Have you ever received money advice that made you scratch your head in confusion? I was once told that I should buy a new car every few years because it would save on maintenance costs….I think the person giving me that advice forgot how much it costs to buy a car. Good news for you, our roundtable today discusses top money myths and how you can avoid making these same mistakes. Our regular contributors, Paula Pant, Len Penzo, and OG give their take on these top myths and share some of their own as well.
And you don’t want to miss Doug’s trivia!
Our Topic: Personal Finance Myths
Top 5 Personal Finance Myths That Need To Be Busted (Forbes)
During our conversation you’ll hear us mention these five financial myths:
- Savings = Money to be Kept in Savings Account
- A Retirement Plan Before 40 is Too Early
- You Need a Lot of Money to Invest
- Risk is Risky, It’s Only Savings
- You Don’t Need Emergency Liquidity
A big thanks to our contributors! You can check out more links for our guests below.
Check Out Paula’s site and amazing podcast: AffordAnything.com
Follow Paula on Twitter: @AffordAnything
Visit Len Penzo dot Com for the off-beat personal finance blog for responsible people.
For more on OG and his firm’s page, click here.
Doug’s Game Show Trivia
- When Calvin Klein sold his business, the deal included about $30 million in stock, as well as licensing rights and royalties that were estimated between $200 to $300 million. How much cash did Klein get as part of the sale?
- Lilly joined us on stage to ask a question about interest rates and give her take. Follow Lilly on Twitter!
- What the Happiest Retirees Know: 10 Habits for a Healthy, Secure, and Joyful Life by Wes Moss
A big thanks to our contributors for joining us to talk about financial myths!
Miss our last show? Check it out here: Restaurants, Your Health, and Your Wallet
Written by: Brooke Miller
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