Bad Financial Advice That Will Makes You Poor
Introduction.
There is so much bad financial advice out there.
How many of these advisors are rich? Should you be listening to their advice? When it comes to advise about money, the most important thing to remember is to consider the source.
Much of the financial advice you’ll hear will come from people who work for mutual funds companies, and their agenda is to get you to put your money into mutual funds, They have their agenda that doesn’t involve your best interest.
What are those pieces of advice that makes you poor?
1. Always Find Ways To Save Money.
You always hear tips on how to save money.
“Make your coffee in the morning instead of going to Starbucks”,
or
Get an Uber, instead of thinking of buying your car.
The reason why this is bad financial advice is that the more focused you are on saving your money, the less focused you’ll be on making money.
2. Put Your Money Into Mutual Funds.
Putting some money away in a mutual fund won’t get you rich. If you put a bit of money into a mutual fund every month for 10, 20 or 30 years, what will happen? When you retire, you will be okay.
Not even comfortable.
Because of inflation, you won’t be rich. Hopefully, if the market doesn’t crash, by the time you retire you will have a little bit of money to live off of.
If the market does crash, your entire life savings will vaporize, just like that.
3. Hustle.
Hustling will only make you tired, not rich.
If you develop a high-income skill, you can make very good money without working around the clock.
Without hustling every hour of the day. It’s ok to have a side hustle to generate extra income, but don’t think that hustling around the clock will get you rich.
Conclusion.
Now that you know, I think it high time you get started.
Here is an article I recommend you read to help you start a business.
10+ Money-Making Online Business To Start In 2020
Final words.
Dear reader, I want you to know that we are predestined to meet in this world but maybe not physically, I am so glad that we could meet on this platform today.
I want you to know that I value relationship and friendship and I want to get to know you more, connect and express feelings towards each other.
That is why I am appealing that you visit my website.
You can as well connect with me on social media platforms like
Twitter.com/_udemezue
