13 Statements That Are Outdated Financial Advice

Technology is changing, societal values are shifting, and financial markets are evolving. With this changing world around us, it would only make sense for financial advice to change too.

The changing economy and the changing financial systems may be making some of that advice outdated and downright wrong.

They don’t know anything about the stock market nor have they ever invested. Still, they are convinced that the stock market is risky.

The Stock Market Is Risky

Determine what is your risk attitude and determine based on that what you want to do with your portfolio. Rebalance your portfolio regularly and adjust your plan when needed.

Asset Allocation Is Determined By Age

When you don’t have it, you are busy building it. It is extremely important to have cash available when something unexpected happens in your life.

Keep An Emergency Fund Of 12 Months Expenses

For many people, talking about money is still taboo. It is extremely important to break that taboo and talk openly with people about money.

Don’t Talk About Money

Make sure that you always have reliable work experience that you can switch jobs whenever you want to.

Find A Job You Like And Never Change It