Since the beginning of time, long before Benjamin Franklin came up with the aphorism, “A Penny Saved is a Penny Earned”, people have been giving, and receiving financial advice, particularly about investing. Some investing advice is sound, and some–not so great. Over the average person’s lifetime they see thousands of financial investment articles in print and online, listen to numerous talking heads, and perhaps even sit down with a financial advisor.
Many consumers who make great decisions in the supermarket about value for their money listen to myths and falsehoods when it comes to laying down large amounts of cash. For newbies to investing, it can seem like an arena full of hungry lions, and you are a lamb. Investment choices can impact whether or not your children will have a college fund, and how well you will be able to retire.
Along with the sound advice are several myths about investing that are poorly substantiated and have little factual value for the average investor. Here are 20 such myths.