The 15 Worst Ever Pieces of Financial Advice

Every bit of financial advice you hear should be taken with a grain of salt, including advice you read here on this story.

There’s a LOT of advice about money out there. While some of it is okay, a lot of it is just plain bad.

Here are the worst pieces of financial advice I have ever heard.

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With proper money management skills, your 9-to-5 CAN MAKE YOU RICH. It happens all the time. I was able to retire early because of my 9 to 5 job.

You can’t get rich working a 9 to 5

Though it sounds good on the surface, this is bad advice for most of us. Here’s the problem: Your passion won’t pay your bills, but your strengths will.

Follow your passion

A standard 10% savings rate won’t cut it for most of us any longer. Fund your 401(k) and Roth IRA. Build an emergency fund. Aim to save and invest at least 20% of your paycheck.

Save 10% and you’ll be set

College graduates earn more than non-grads. Them’s the facts. Exceptions apply but never count on being an exception. Don’t allow people to talk you out of a smart career move.

College is useless

In other words, “Spend your cash on temporary happiness crap“. How about this: You only live once. Achieve FI & do whatever the heck you want for the rest of your life. That sounds much more satisfying to me.

You only live once

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