3 Money Lies Your Parents Told You (keeping Your Broke)

Your parents gave you the best advice they had.

Lie #1: “Just save money”
Reality: Savings accounts pay 0.5%, inflation is ~ 3%. You’re literally losing purchasing power every year sitting in savings. You need to INVEST to beat inflation

Lie #2: “Wait until you’re older to invest”
Reality: Someone who invests $500/month starting at 25 will have $1.4M by 65. Start at 35? Only 700K. That 10-year delay cost you $700,000.

Lie #3: “All debt is bad:
Reality: Consumer debt (credit cards, car loans for depreciating assets) = bad.
Debt for appreciating assets (rental property, business) = leverage that builds wealth

#moneytips #personalfinance #moneyhacks #financetips #smartmoney #generationalwealth

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