What Financial Advice Did Your Dad Give You?

1. What is the dumbest financial advice you've ever heard?

The dumbest financial advice often includes get-rich-quick schemes, like "invest all your money in a single volatile asset" or "debt doesn’t matter." For example, Elon Musk has joked about dubious advice like "put your life savings into Dogecoin," which highlights the risks of following hype without research.

2. What is the best financial advice you’ll hear today?

The best financial advice is timeless: live below your means, invest consistently in diversified assets (like index funds), and avoid high-interest debt. As Warren Buffett says, "Do not save what is left after spending, but spend what is left after saving."

3. Why is 'This is Financial Advice' a risky disclaimer?

Phrases like "This is Financial Advice" can be misleading if the source isn’t a licensed professional. Always verify credentials and remember that generic advice may not suit your unique situation. True financial planning requires personalized strategies.