Winnie Sun parents myths Winnie Sun

3 Common Money Myths Debunked

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TRY THIS: rounds up each of your purchases and invests the spare change.Another assumption about investing is that it carries unmanageable risk, akin to gambling.“Investing is the first step to ,” says financial adviser Winnie Sun. “Change your perception of market volatility and see this as an opportunity.”It’s easy to be scared by the hype of short-term .

But in the long term, study after study makes the case for investing as a sound . A stock market analysis from shows an annual average return (after inflation) of 6.8 percent since 1871—even with wars, crises and multiple market crashes.If anything, the gamble is to not invest.

When your money sits in a savings account, even with a decent 1 percent interest rate, it fails to keep pace with inflation and loses purchasing power over the long term.The myth of paying your dues upon entering the workforce is ingrained in our culture, but there’s a big difference between the “paying your dues realities” of the 1970s and ’80s and the new normal of graduating with five figures’ worth of Since the Great Recession, the median wage for 25- to 34-year-olds has fallen in every major industry except health care.

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