Traditional methods have evolved over the last 50 years. What was once solid advice doesn't work as well anymore. For example, the basic advice used to be: Get a good job, stay with that company until you retire and they will take care of you with a good pension. The problem with that advice is that people change jobs frequently. Most employers discontinued pensions and replaced them with 401ks, and even the wisdom of investing in a 401k is now questionable. Another traditional piece of advice was to save a little money, buy a house, and pay it off as soon as you can. One problem with that advice is that people move from house to house frequently and you lose your tax deduction that way. Here is a piece of traditional advice that worked and still works today: 1) Stay out of debt except for the purchase of a house. 2) Save money out of every paycheck for retirement. I have lots of other great advice. Wouldn't it be smart to compare financial ideas with me to learn some new ideas to help yourself? |