The changing economy and the changing financial systems may be making some of that advice outdated and downright wrong. Here is some outdated financial advice to rethink.
1
Well, that largely depends on your situation. If you’re buying a home, you need to put a lot down. Real estate agent fees, taxes, advisory fees, and more.
2
For the US real estate market they tested for home renovation projects and they found that zero home renovations had a positive return on investment.
3
I agree that not all debt is created equal, but generally, student loan debts are still a burden.
4
While it can be great to rent an apartment and pay off your student loans first, it should be possible to buy a house while having student loans.
5
Think about your risk appetite and the general market returns (7%) versus your mortgage interest rate. Don’t blindly pay off your mortgage early.