FREE NEWSLETTER

What popular financial advice do you ignore?

Go to main Voices page »

Subscribe
Notify of
12 Comments
Inline Feedbacks
View all comments
ishabaka
ishabaka
20 hours ago

Any economic predictions to two figures or more are bumpf as far as I’m concerned. I see a lot of headlines similar to this “Expert X predicts the market will be up 18.26% this year! Really? Why not 18.27%??? All nonsense.

Purple Rain
Purple Rain
2 days ago

“Buy indices no matter what’s in them or how they are priced”.

Scrooge_McDuck88
Scrooge_McDuck88
1 month ago

Buying Crypto’s!

Last edited 1 month ago by Scrooge_McDuck88
Laura E. Kelly
Laura E. Kelly
1 month ago

We keep far too much of our investable money in cash, due to my husband’s distrust of the stock market. Combination of minuscule interest rates, missing out on the recent bull market, and now inflation rearing its ugly head really brings home why all these years we should not have ignored the popular financial advice to mostly invest our too-large rainy day fund.

ishabaka
ishabaka
1 month ago

Judging by the number of articles, the most popular financial advice consists of predicting the markets. Took me a long time to wise up, but now I know there are two kinds of market analysts:

  1. those who know they can’t predict the markets
  2. those who don’t know they can’t predict the markets
Mike Zaccardi
Mike Zaccardi
2 months ago

I have no saving goal.

I just spend small then save and invest the rest. Most people should have goals and habits because it’s so hard to keep them without some structure. For me, I get a thrill out of saving, so it’s kind of like my ‘fun money’. Which does not sound so fun, I’m sure.

Saving 10% of my salary is never something I have thought about. I can’t even tell you what my saving rate is.

Catherine
Catherine
2 months ago

Right now I am ignoring the popular financial advice that borrowing for college is worth it because college provides a double-digit return on your investment.
This is just one more instance of popular financial advice on when to borrow money and how much debt load is okay, including car loans and home loans.
Old fashioned idea, but at this point in my life, if I can’t pay in full, I won’t buy it. Amazing how my interest in purchasing things fades away when I think of real money going out of my pocket to get it.
Honestly, I had a friend from college laugh and say, “Haven’t you heard of leverage?” as he described his hobby farm, which I wondered how he could afford. He may have been correct, and he may be multiples richer than me at this point, but that is not how I roll.

Rick Connor
Rick Connor
2 months ago

At this time I steer clear of the flavors of the month – NFTs and crypto. The other one is to buy gold as a hedge against Armageddon. I never understood that one.

Joe Kesler
Joe Kesler
2 months ago

I hate the click bait headlines like, “Six stocks you need to buy now!” Why would I think some journalist trying to get readers with a seductive headline would know how to beat the market? I don’t.

David Powell
David Powell
2 months ago

Many personal finance writers love to tell you to get the biggest mortgage you can afford and never pay it off. Yes, it is the cheapest debt you can buy but I still say phooey. Ignore that advice when you’re able.

Andrew Forsythe
Andrew Forsythe
2 months ago

I ignore all the pitches to invest in the latest, greatest, hottest “thing”. Even if it were a good investment, if “everybody” is already buying it, it’s too late!

R Quinn
R Quinn
2 months ago

I’m long past advice doing me much good, but I did follow the save early, save regularly and stop trying to beat the averages. Today popular advice seems to be around retirement withdrawal rates and how much one needs in funds to retire. With the wide range of advice given in both, I’m guessing ignoring the experts and using some basic math on each individual situation is best.

Free Newsletter

SHARE