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Episode 3278:
Kalen Bruce unpacks five damaging money myths that sabotage retirement plans, like believing a high income ensures future savings or that investing is only for finance experts. He urges readers to rethink their strategy by starting small, learning the basics of investing, and distinguishing between good and bad debt for a more secure financial future.
Read along with the original article(s) here: https://moneyminiblog.com/investing/personal-finance-retirement-myths/
Quotes to ponder:
"Many people take no care of their money till they come nearly to the end of it."
"To guarantee a comfortable retirement, get into a saving mindset starting with your mid-20s, even if that means setting aside just $100 every month."
"You don’t need a degree in finance to be successful."
Episode references:
Camp FI: https://www.campfi.org
4% Rule (Investopedia explanation): https://www.investopedia.com/terms/f/four-percent-rule.asp
The Federal Reserve Survey of Consumer Finances: https://www.federalreserve.gov/econres/scfindex.htm
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