Ever hear phrases like “common knowledge” or “conventional wisdom”?
Typically, the reason knowledge is common and wisdom is conventional is because it’s true, or at least makes sense. Otherwise, it presumably wouldn’t get passed around for years.
But here’s the thing: Sometimes, conventional wisdom is stupid and common knowledge is wrong.
Here’s one of many examples: Ever hear someone say, “After you retire, your expenses will be much lower”?
While it’s possible that will be true, it’s also possible it will be laughingly false. Depending on what you plan to do during your retirement years, you could easily be spending a lot more than you did while working. That’s why you need to think about how you’re likely to spend your golden years, then plan out where the gold will come from.
And that’s just the tip of the iceberg when it comes to questionable, irrelevant, outdated or just plain bad money advice.
That’s what this week’s “Money!” podcast is about. We’re going to list bad bits of advice, explain why they’re off the mark, and replace them with new conventional wisdom that’s actually wise and common knowledge that’s actually knowledgeable.
Sit back, relax and listen to this week’s “Money!” podcast:
Don’t listen to podcasts?
A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone, or by listening online. They’re awesome for learning stuff and being entertained when you’re in the car, doing chores, jogging or, if you’re like me, riding your bicycle.
If you haven’t listened to our podcast yet, give it a try, then subscribe. You’ll be glad you did!
Want more information? Check out these resources:
- 13 Dumb Investing Moves — and How to Avoid Them
- 11 Dumb Money Mistakes That Are Holding You Back
- My 10 Dumbest Money Moves — and How You Can Avoid Them
- Stop Making These 10 Dumb Money Moves
- 7 Crucial Money Mistakes You Must Avoid
- Penny Hoarder: 6 Pieces of Dumb Financial Advice That Most People Believe
- Entrepreneur: 5 Pieces of Free Financial Advice You Can’t Afford to Take
- NewRetirement: The 22 Most Foolish Financial Decisions Ever Made
- Stacking Benjamins: The 23 Worst Pieces of Financial Advice We’ve Ever Heard
- Business Insider: 7 stupid things people do with their money that feel smart at the time
- Subscribe to the Money Talks News newsletter
- Take our course The Only Retirement Guide You'll Ever Need
- Take our course Money Made Simple
- Miranda Marquit’s website
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