Bad Personal Finance Takes (Part 1)

The internet is a dangerous place. It's full of amazing resources yet also some really bad advice. This is especially true in the realm of personal finance. TikTok has some of the most terrible and untrue statements about personal finance but Twitter (X) is always reliable right? Wrong. In this episode, we take you through some really terrible takes on personal finance and share our opinions. We hope you have as much fun listening to this as we did recording. The main tweets we cover include: "You can't personal finance your way out of poverty" "If you struggle to save anything, allow yourself the opportunity to go broke" "401Ks are a scam" "The best form of leverage is to be debt free" "Most people who are successful are actually quite dumb. Most were lucky." Making an argument that young people shouldn't save -> "Getting a taste of the good life (going out to nice dinners, nice vacations) will make you want to work harder for those things" Defining a credit score -> "It's an I love debt score" "If you're working on paying off debt, the only time you should see the inside of a restaurant is if you're working there." "How people don't retire early: dividends, real estate, side hustles, Biz Insider BS" If you enjoyed this episode, please share it with a friend! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)