Olde Hornet
Well-Known Member
http://biz.yahoo.com/wallstreet/070701/sb118323893642354294_id.html?.v=1&.pf=banking-budgeting
WallStreet Journal
Popular Advice You Shouldn't Take
Sunday July 1, 3:30 am ET
By Jonathan Clements
If you're in your 20s, the world may not throw money at you -- but you'll get plenty of free financial advice.
For instance, you have no doubt been told to save diligently, fully fund your employer's 401(k) plan and avoid credit-card debt. And those are all good suggestions.
But there are other suggestions that aren't quite so good -- including these four popular pieces of advice.
1. AMASS CASH
If you are just out of school, you probably have all kinds of financial ambitions, including buying a car, purchasing a home and trying your hand at stock-market investing. But according to some financial experts, your top financial priority should be amassing an emergency reserve equal to six months of living expenses, with this cash tucked away in conservative investments like money-market funds and certificates of deposit.
WallStreet Journal
Popular Advice You Shouldn't Take
Sunday July 1, 3:30 am ET
By Jonathan Clements
If you're in your 20s, the world may not throw money at you -- but you'll get plenty of free financial advice.
For instance, you have no doubt been told to save diligently, fully fund your employer's 401(k) plan and avoid credit-card debt. And those are all good suggestions.
But there are other suggestions that aren't quite so good -- including these four popular pieces of advice.
1. AMASS CASH
If you are just out of school, you probably have all kinds of financial ambitions, including buying a car, purchasing a home and trying your hand at stock-market investing. But according to some financial experts, your top financial priority should be amassing an emergency reserve equal to six months of living expenses, with this cash tucked away in conservative investments like money-market funds and certificates of deposit.