There's a lot of outdated money advice out there. Reuters Personal Finance Editor Lauren Young points out the popular advice you're likely to hear but should ignore.
▲ Hide Transcript
▶ View Transcript
And I think it -- about money. A lot of financial advice -- -- on our here's our taste and some common financed and it's. Never take a mortgage and corporate giant. This made perfect sense -- -- interest -- super high rates today even with recent hikes are still at historic lows. So that means it makes a lot more sense to keep that market's going to pay -- -- slowly. But invest any extra money in your retirement account -- stashed away in an emergency. You can see -- health care. And then borrow against -- or. This is often cat bites. While most people don't wanna take the organ paying fees. Borrowing money against your -- and came makes sense now particularly because interest rates alone the going rate. Four point 2%. A lot better that you're gonna get from the credit car or even a private -- The only. Less money you should have stuck -- my. That you'll meet him in the last -- but with the average retiree somebody in the -- -- twenty to thirty years longer. You need more money invest in stocks from the nineteenth. 2000 well. Average return for a large -- acts with 10% a year it makes perfect sense to invest in stocks for the long ball. This advice that a live forever. Like discs -- -- when it comes to financial ties him for exploration.