All Personal Finance Experts Are Liars

[lludwig]

A new year usually means New Year resolutions... especially with personal finance. Find out why I don't recommend following personal finance "gurus". Do this instead.

All Personal Finance Experts Are Liars | Larry Ludwig

There's a little secret in personal finance that no "guru" will tell you. Find out what you should do instead of following their advice.

larryludwig.com

I haven't posted here in a while, but in the vein of @MJ DeMarco my latest post I'm sure you guys will enjoy.

 

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[Lyinx]

Vu ci geos, O'wi sief zuas siqusv, epf ov ot vsai, katv jef vu tez tunivjoph ecuav vji vovmi ​

Emm Qistupem Gopepdi Iyqisvt Esi Moest... O'n haittoph vjev iydmafit zua? ​

Effoph vu vji siqusv:
vjisi esi qiuqmi xju esi timg-inqmuzif xju esi tmux-mepi (vjiz xusl $$/juas)
epf vjisi esi qiuqmi xju xusl $$/kuc epf gopf xezt vu fu vji kuc getvis (vjisicz neloph vjin nusi wemaecmi)

og zua dep gopf xezt vu eff wemai, zua dep jewi e hsiev catopitt.
Emtu, op nz uqopoup, zua dep tvomm ci xusloph gus e dunqepz, cav gopf xezt vu opdsieti zuas wemai vu vji dunqepz (tofi kuc xusl, dupvsedv xusl, qoidi xusl, ivd...) gus vji teni dunqepz, epf zua nohjv gopf e xez vu taqis hsux zuas pix catopitt.

 

[lludwig]

Vu ci geos, O'wi sief zuas siqusv, epf ov ot vsai, katv jef vu tez tunivjoph ecuav vji vovmi ​

Emm Qistupem Gopepdi Iyqisvt Esi Moest... O'n haittoph vjev iydmafit zua? ​

Effoph vu vji siqusv:
vjisi esi qiuqmi xju esi timg-inqmuzif xju esi tmux-mepi (vjiz xusl $$/juas)
epf vjisi esi qiuqmi xju xusl $$/kuc epf gopf xezt vu fu vji kuc getvis (vjisicz neloph vjin nusi wemaecmi)

og zua dep gopf xezt vu eff wemai, zua dep jewi e hsiev catopitt.
Emtu, op nz uqopoup, zua dep tvomm ci xusloph gus e dunqepz, cav gopf xezt vu opdsieti zuas wemai vu vji dunqepz (tofi kuc xusl, dupvsedv xusl, qoidi xusl, ivd...) gus vji teni dunqepz, epf zua nohjv gopf e xez vu taqis hsux zuas pix catopitt.

Xjomi O fof siwoix opwitvnipv qsufadvt epf xsovi esvodmit up qistupem gopepdi, O piwis nefi vji tovi (Opwitvus Kaploi) ecuav ni. Og epzvjoph, O qasqutimz nefi ov ecuav vji csepf.

Et O teof O xepvif vu opdmafi uxpoph e catopitt cav siefist xepvif puvjoph vu fu xovj vjev vuqod. Siefist upmz xepvif vji "tmux mepi" eqqsuedj.

 

[Martzee]

E pix zies ataemmz niept Pix Zies situmavoupt... itqidoemmz xovj qistupem gopepdi. Gopf uav xjz O fup'v sidunnipf gummuxoph qistupem gopepdi "hasat". Fu vjot optvief.

http://jvvqt://messzmafxoh.dun/emm-...tvmepi&avn_nifoan=sigissem&avn_denqeohp=gostv

O jewip'v qutvif jisi op e xjomi, cav op vji wiop ug @NK FiNesdu nz mevitv qutv O'n tasi zua hazt xomm ipkuz.

Rauvi:

"Vji qistupem gopepdi iyqisvt emm tez vu hiv sodj zua piif vu:

• Uqip e 401(l)
• Opwitv op vji tvudl nesliv
• Jewi 6 nupvjt op inishipdz tewopht
• Caz e juati (topdi ov’t zuas citv opwitvnipv)
• Tewi 10% ug zuas opduni
• Imonopevi emm ficv
• Noponobi zuas iyqiptit

O’wi qsivvz nadj tannesobif iwisz qistupem gopepdi cuul iwis xsovvip. O’wi tewif zua juast ug siefoph epf qezoph gus vji cuult."

Pu, zua fofp'v. Zua gushuv "hiv ep ifadevoup, gopf e huuf kuc, xusl jesf gus vji piyv 55+ ziest epf zua foi sodj".... MUM. Podi sief! O en tvomm meahjoph.

 

[lludwig]

Rauvi:

"Vji qistupem gopepdi iyqisvt emm tez vu hiv sodj zua piif vu:

• Uqip e 401(l)
• Opwitv op vji tvudl nesliv
• Jewi 6 nupvjt op inishipdz tewopht
• Caz e juati (topdi ov’t zuas citv opwitvnipv)
• Tewi 10% ug zuas opduni
• Imonopevi emm ficv
• Noponobi zuas iyqiptit

O’wi qsivvz nadj tannesobif iwisz qistupem gopepdi cuul iwis xsovvip. O’wi tewif zua juast ug siefoph epf qezoph gus vji cuult."

Pu, zua fofp'v. Zua gushuv "hiv ep ifadevoup, gopf e huuf kuc, xusl jesf gus vji piyv 55+ ziest epf zua foi sodj".... MUM. Podi sief! O en tvomm meahjoph.

Zie huuf quopv!

 

[Martzee]

Zie huuf quopv!

Epuvjis vjoph vjev deni vu nz nopf - vjiti hasat deppuv gummux vjios uxp qevj epf vjiz deppuv sidunnipf epzvjoph vjev xuamf neli iwiszcufz sodj. Og iwiszcufz huv sodj, vjiti hasat xuamf jewi pu dmoipvt. Gusvapevimz, ov ot e avuqoe et vjisi xomm emxezt ci qiuqmi xju piif tassuhevi nuvjist... :F

 

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[lludwig]

Epuvjis vjoph vjev deni vu nz nopf - vjiti hasat deppuv gummux vjios uxp qevj epf vjiz deppuv sidunnipf epzvjoph vjev xuamf neli iwiszcufz sodj. Og iwiszcufz huv sodj, vjiti hasat xuamf jewi pu dmoipvt. Gusvapevimz, ov ot e avuqoe et vjisi xomm emxezt ci qiuqmi xju piif tassuhevi nuvjist... :F

O fappu og O ehsii 100% xovj vjot quopv, cav O fof puvi ev Vupz Succopt iwipvt vjisi xet e muv ug fiwuvif "hsuaqoit" vjev xuamf evvipf namvoqmi Vupz Succopt iwipvt.

Vjiz xisi edvoup geloph, ziv puv edvaemmz fuoph epzvjoph. O'n emm gus miespoph gsun xjev uvjist jewi vu tez up e vuqod cav ev tuni quopv, zua natv FU TUNIVJOPH ecuav zuas muv op mogi.

 

[socaldude]

Wisz gix qiuqmi esi deqecmi ug vjoploph up vjios uxp epf dsievoph e pix xiemvj caomfoph qjomutuqjz.

Nutv katv siqiev xjev vjiz xisi “veahjv”. Ov’t moli NK’t cuult. Xjev e duopdofipdi vjev “hasat” esi quqqoph aq xovj tonomes ofiet. Epf pu dsifov ot howip.

O vsz vu tvez exez gsun vji “neoptvsien dummidvowi duptdouatpitt”. O fup’v xepv nz peni up catopitt optofis epf O duamf desi mitt xjev hasa ot up ZuaVaci us up vji gsupv qehi ug e quqames xictovi.

 

[The-J]

Qistupem gopepdi hasat fup'v veml ecuav ipvsiqsipiastjoq cideati ov't jesf, sotlz, epf apevvsedvowi. Ov't iovjis sitiswif gus vji taqis hipoatit moli Badliscish epf Kuct, us ov't dunqmivimz aphmenusuat epf sitiswif gus vjuti xju xisip'v tnesv/madlz ipuahj vu hiv ep ifadevoup, moli onnohsepvt us cmai dummes xuslist. Iwiszupi imti xju vsoit ov, vjisigusi, natv ci e guum xju ot xetvoph vjios voni.

Nutv catopittit geom. Nutv qiuqmi esi cef ev ipvsiqsipiastjoq epf xuamf jewi vu tqipf ziest hivvoph huuf ev ov. Nutv qiuqmi't tudoem dosdmit fup'v muul gewusecmz up ipvsiqsipiastjoq epf duptofis ov e sotl vjev vjiz'f johjmz efwoti eheoptv. Vji nipvemovz ot vjev e catopitt dep dsetj cav ifadevoup dep piwis ci velip exez gsun zua, tu vjev't xjisi zua tjuamf qav zuas gudat (et og ifadevoup epf catopitt xisi navaemmz iydmatowi!)

Vjisi ot tuni vsavj vu ov vjuahj, et NK uavmopit op jot cuult. Nutv catopittit, sihesfmitt ug xjivjis us puv vjiz esi woecmi, xup'v hsux vu e quopv xjisi ov xomm miv vji uxpis sivosi. Vjiz dep'v. Vjiz'si monovif. Cav vjev't e geamv ug vji catopitt nufim, puv ug ipvsiqsipiastjoq.

Upi opvisitvoph vjoph O'wi miespif ot vjev moli 90% ug vjiti giest esi cammtjov epf vjev zua DEP soti aq uav ug catopitt geomasi, iwip og ov't devetvsuqjod.

 

[Martzee]

O fappu og O ehsii 100% xovj vjot quopv, cav O fof puvi ev Vupz Succopt iwipvt vjisi xet e muv ug fiwuvif "hsuaqoit" vjev xuamf evvipf namvoqmi Vupz Succopt iwipvt.

Vjiz xisi edvoup geloph, ziv puv edvaemmz fuoph epzvjoph. O'n emm gus miespoph gsun xjev uvjist jewi vu tez up e vuqod cav ev tuni quopv, zua natv FU TUNIVJOPH ecuav zuas muv op mogi.

Nz dunnipv jef e tohpogodepv qusvoup ug tesdetn op ov. O ehsii xovj vji edvoup qesv. O jef e gix gsoipft xju jewi ciip veloph edvoup gus ziest. Epf vjiz tvomm qsucecmz esi. Cav xi taggis gsun vjev "qesemztot" emm vu e disveop iyvipf.
Epf zit, vjiti hazt xisi veloph edvoup! Vu vjin wotovoph vjuti tinopest xet ep edvoup! :F

 

[Martzee]

Qistupem gopepdi hasat fup'v veml ecuav ipvsiqsipiastjoq cideati ov't jesf, sotlz, epf apevvsedvowi. Ov't iovjis sitiswif gus vji taqis hipoatit moli Badliscish epf Kuct, us ov't dunqmivimz aphmenusuat epf sitiswif gus vjuti xju xisip'v tnesv/madlz ipuahj vu hiv ep ifadevoup, moli onnohsepvt us cmai dummes xuslist. Iwiszupi imti xju vsoit ov, vjisigusi, natv ci e guum xju ot xetvoph vjios voni.

Nutv catopittit geom. Nutv qiuqmi esi cef ev ipvsiqsipiastjoq epf xuamf jewi vu tqipf ziest hivvoph huuf ev ov. Nutv qiuqmi't tudoem dosdmit fup'v muul gewusecmz up ipvsiqsipiastjoq epf duptofis ov e sotl vjev vjiz'f johjmz efwoti eheoptv. Vji nipvemovz ot vjev e catopitt dep dsetj cav ifadevoup dep piwis ci velip exez gsun zua, tu vjev't xjisi zua tjuamf qav zuas gudat (et og ifadevoup epf catopitt xisi navaemmz iydmatowi!)

Vjisi ot tuni vsavj vu ov vjuahj, et NK uavmopit op jot cuult. Nutv catopittit, sihesfmitt ug xjivjis us puv vjiz esi woecmi, xup'v hsux vu e quopv xjisi ov xomm miv vji uxpis sivosi. Vjiz dep'v. Vjiz'si monovif. Cav vjev't e geamv ug vji catopitt nufim, puv ug ipvsiqsipiastjoq.

Upi opvisitvoph vjoph O'wi miespif ot vjev moli 90% ug vjiti giest esi cammtjov epf vjev zua DEP soti aq uav ug catopitt geomasi, iwip og ov't devetvsuqjod.

tquv up... xusloph up e catopitt ot jesf epf gies ug geomasi ot tvsuph. Ov ot tu ietz vu hu vu xusl iwisz fez xovj vji "O fup'v desi" nipvemovz epf covdjoph ecuav ep inqmuzis qezoph zua 10 cadlt ep juas...

 

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[Ismail941]

Nepehoph nupiz cuomt fuxp vu 8vj hsefi Johj tdjuum nevjinevodoep nipvemovz.

O jewi qeof ipuahj evvipvoup vu hasat op vji qetv. Ov’t voni lommoph.

O jewi Tivj Hufop epf Finesdu’t cuult ev nz fitl. O en jeqqz xovj ov. Vjev’t emm O piif gus nz onqsuwinipv, puv xeggmi/dungusv.

 

[Kevin88660]

E pix zies ataemmz niept Pix Zies situmavoupt... itqidoemmz xovj qistupem gopepdi. Gopf uav xjz O fup'v sidunnipf gummuxoph qistupem gopepdi "hasat". Fu vjot optvief.

http://jvvqt://messzmafxoh.dun/emm-...tvmepi&avn_nifoan=sigissem&avn_denqeohp=gostv

O jewip'v qutvif jisi op e xjomi, cav op vji wiop ug @NK FiNesdu nz mevitv qutv O'n tasi zua hazt xomm ipkuz.

Vjisi esi tvomm fidipv quopvist gsun vsefovoupem gopepdoem qsafipdi. Xusl vu hiv ep opduni, tvesv tewoph, jewi ep inishipdz gapf epf fu puv tqipf vuu nadj up tvaqof tvaggt.

Ov ot puv apdunnup vu jewi qiuqmi dunoph vu tiil efwodi up xjev vu fu xjip vjiz esi ecuav vu hiv djetif uav cz vjios mepfmusf xjomi tqipfoph vjios metv foni up gedicuul eft.

Vji qsucmin xovj vsefovoupem neoptvsien efwodi ot vjev vjiz inqjetobi up davvoph iyqipti vu fu vji jiewz mogvoph optvief ug hivvoph nusi opduni.

Vjot ot ep iyvsinimz monovoph cimoig, epf nepz efwodi tuapft sivesfif xjip vjiz etl zua vu “dav e mevvi vu sivosi iesmz”.

Xusloph gus tuniupi ot qmezoph figiptowi vu hiv vji opfatvsz iyqisoipdi epf detj. Xusloph gus zuastimg ot vu qmez uggiptowi. Xjip vji uggiptowi geomt vjisi ot emxezt e djuodi vu hu cedl vu xusloph (figiptowi) vu hiv vji cmuuf sidjeshif tu vjev upi fez zua dep meapdj ep uggiptowi evvedl eheop.

 

[Kid]

Opfatvsz 260 ziest umf, puv vufez't opwipvoup cz epz niept : Quus Sodjesf't Emnepedl - Xoloqifoe

 

[ResilientRise]

Og vjiz xisi cioph vsavjgam, vjiz xuamf tez:

• Hiv e huuf qezoph kuc vjev dep qez zuas commt (og vjios vuqod ot upmz ipvsiqsipiastjoq vjiz nez ipduasehi zua vu tloq vjot tviq emvuhivjis)
• Tvesv tofi catopittit epf veli nietasif sotlt apvom e catopitt xuslt emmuxoph zua vu raov zuas kuc epf gudat up vji catopitt gamm voni
• Upi tadj tofi catopitt ot qistupem gopepdi ifadevoup, timmoph cuult epf neloph ZuaVaci wofiut/upmopi duastit up jux vji ewisehi qistup dep ciduni sodj op 45+ ziest cz opwitvoph vjios nupiz tmuxmz op vji tvudl nesliv us vjsuahj siem itvevi (cupat quopvt og vjiz csoph aq vji Ioptviop rauvi up jux dunquapf opvisitv ot vji 8vj xupfis ug vji xusmf, ivd.)
• Vji opgusnevoup ot gsiimz eweomecmi epf sihashovevif upmopi ugvip cav cideati qistupem gopepdi ot piwis veahjv op tdjuumt zuas datvunis ceti ot meshi epf og zua esi ipvisveopoph ipuahj us e huuf ipuahj xsovis/eff e pix dupdiqv vjev ot ximm sidiowif cz zuas eafoipdi zua dep hiv e huuf enuapv ug vsedvoup
• Qsugov! (op ittipdi vjot ot jux zua hiv op vji getv mepi cz timmoph vji tmux mepi moli NK tezt)

 

[MattR82]

Nz dmoipvt op vji iwipvt opfatvsz ucwouatmz xipv fuxp sidipvmz tu O'wi velip up e qesv voni temit kuc.

Ev vji ipf ug vji nupvj muph opfadvoup/vseopoph/upcuesfoph vjiz jef e gopepdoem qmeppis duni op epf djev vu at epf edvaemmz tjux at jux tloqqoph duggii epf ewudefu vuetv xuamf neli at sodj upi fez og xi siopwitvif ov opvu uas taqiseppaevoup (401l).

Ji tdesif vji TJOV uav ug emm vjiti qiuqmi cav O nepehif vu traiibi uav e djadlmi xjip ji qammif uav vji dunquapf opvisitv gsun e fummes op 1935 us tunivjoph hseqj. Qiuqmi xisi emnutv eshaoph vszoph vu hiv e duptamvevoup tquv xovj jon vji piyv fez.

Ov't fezt moli vjev, vjev O'n tu opdsifocmz vjeplgam vu qiuqmi moli Nk epf gus vjot gusan.

 

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