Great book out--
Pound Foolish - Helaine Olen: "Pound Foolish also disproves many myths about spending and saving, including: Small pleasures can bankrupt you: Gurus popularized the idea that cutting out lattes and other small expenditures could make us millionaires. But reducing our caffeine consumption will not offset our biggest expenses: housing, education, health care, and retirement. Disciplined investing will make you rich: Gurus also love to show how steady investing can turn modest savings into a huge nest egg at retirement. But these calculations assume a healthy market and a lifetime without any setbacks—two conditions that have no connection to the real world. Women need extra help managing money: Product pushers often target women, whose alleged financial ignorance supposedly leaves them especially at risk. In reality, women and men are both terrible at handling finances. Financial literacy classes will prevent future economic crises: Experts like to claim mandatory sessions on personal finance in school will cure many of our money ills. Not only is there little evidence this is true, the entire movement is largely funded and promoted by the financial services sector."
In other words, forget about the financial gurus--they are just trying to sucker you into spending your money on their products and services!
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When the facts change, I change my mind. What do you do? -- John Maynard Keynes
Monday, February 25, 2013
Pound Foolish by Helaine Olen
The Big Picture
Financial Crisis - The Telegraph
JohnTheCrowd.com | The Sailing Website
Craig Newmark - craigconnects
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