What is the worst financial or investing advice you were ever given, hold on, that is not in anyway related to Bitcoin or any crypto.
Best answer gets 1000 sats! Comment below 👇
Discussion
Bet against Celtics this last season
Marry the house, date the rate (post 2021)
Here's a piggy bank son. You put your small change there, and one day it'll buy you something you really want. Turns out I couldn't beat inflation.
Get a college degree.
took a loan to buy shitcoins
If you are willing to accept the thing working 90% of the time you typically only have to pay 10% of the cost.
If you put 10% into your TSP you'll be a millionaire by the time you retire at 20yrs. -US Navy Million Dollar Sailor course.
Edward jones said to invest in family dollar instead of apple… just before apple released the first iPod… because they were starting to put coolers in stores
Amway
When my parents told me to get a savings account with 2,39% interest rate with a 3 year lockin period. Imagine how many sats I could have bought with that money.
Go into debt so you can raise your credit score to qualify for a better interest rate on a home mortgage.
lock up all your excess energy in retirement funds. what a fking scam could be using that energy to scale business, invest in self instead its in some inaccessible account thatll most likely get rugged.
Before I got into Bitcoin, I read the intelligent investor by Ben graham. He talked about how investing in all the businesses (e.g. S&P500) is the best strategy. He said that investment companies rarely outperform the S&P500 and, the ones that do, eventually perform worse over the long term. So just buying the S&P500 and waiting long term is better than any other strategy. The worst advice I’ve received is opening a retirement account. Retirement accounts fuck you hard with fees. By the time you retire, the average person has lost millions.
Pension
Spend what you earn because you can’t take it to the grave.
To never take any debt.
"You should go to college so you can get a good paying job"
Buy a condo (in 2007). Get told it is good debt. Realize mortgage plus tax plus association dues plus maintain equal more than I could ever rent it for. Sell it in 2014. Realtor takes 20 percent of proceedes. Wife wonders why I don't want to buy a house.
i listened to advice from motley fool twice. lost money both times.
Best odds at the casino is craps (prolly true)…as long as u stay offa the bets in the middle…thousands of dollars later I realized why the casinos can run those golf courses at a loss…I’ve got a lot of golf left to play if ima catch up😖
"Buy Sirius XM because Howard Stern is a radio legend."
Only invest what you are ready to lose
A college degree will pay for itself...
If I win send zaps to open sats or ur fav dev….id prolly jus lose them on the craps table or on a golf bet😖😉
SS is great! You don't have to worry about it. 🙄
Rather difficult for me to say, to be honest. I grew up with very financially responsible parents and grandparents. 🤔I can, most certainly, tell you some of the best advice I've received.
put 40% of your savings into bonds
Buy Delta airlines right before it crashed to zero and was restructured.
Diversify.
This is for people who can't or won't spend time doing research and monitoring of an investment
Just the tip
“You need to go to college.”
Put your life savings in a silver mining company named silver dragon in 2009
Peak oil
"Silver is always a good investment"
Work for 60 years, save and invest with compounding and once you are in the verge of your dead, you will have a million dollars that won't buy the same and you will be to crippled to even enjoy.
Have been given a few and majority were followed by “Trust me”
Based upon what I would think, this has to do primarily with getting yourself a credit score (which is programming for a social credit score of some sort in the future), combined with working your butt off, letting bad actors steal your assets because you practice bad OPSEC, and you even support those that burn your money to keep their feet nice and toasty. Thank the BOOKS for it (some know which ones I am talking about).
The food pyramid
Dave Ramsey - “just buy mutual funds”
First time I visited Puerto Rico in 2014. I ran into Peter Schiff on the beach, he recommended I sell all my Bitcoin and buy gold. I know you said not to mention Bitcoin but this was by far the worse advice I have ever gotten in my life to date. If I listened, my life would have been so much worse off... Luckily I already had a strong conviction.
Privacy.com is the single best fiat payment tool. Should be used anywhere you cannot use Bitcoin. Credit to nostr:npub17u5dneh8qjp43ecfxr6u5e9sjamsmxyuekrg2nlxrrk6nj9rsyrqywt4tp
Ahh fuck, I read as best advice. Please ignore 😂😂
Save 1/3 of your income in a bank account & lock it away at a high fixed term interest for a couple of years.
My school teacher telling me not to worry about learning about how budgets work because that is what you hire accountants are for... 🤦🏻♂️
"Gimme yr money and I'll do the rest" — best advice ever 🙄
"Microsoft will never amount to anything." I had 10k to invest. 1998. - Father.
Trust the state, that it will take care of you.
To invest my life time and health in physical labor to get some colored pieces of paper.
Just save