It’s shocking to me how inane many personal finance articles are. I understand that handling one’s finances can be a complex topic, but so many articles are just simplistic click-bait.
This recent article from The Motley Fool is a perfect example. The headline teases ‘Three Secrets To Retire Rich”. That sounds like a pretty compelling article, but when you click on it you find it is a mindless puff piece.
Here is their advice: 1) “Start saving as early as possible”; 2) “Determine how much money you need”; and, 3) “Take advantage of employer-matched 401k funds”.
That’s it. Amazingly insightful, huh?
Arguably, you could do all 3 of these things and never retire rich. There is no guidance how much to save, what assets you might want to invest in, or any advice on controlling spending. How the author or any editor thought any of these tactics could be headlined as a “secret” is an absolute joke.
Perhaps it’s no wonder so few people pay attention to personal finance media. When insipid articles like this are commonplace, why bother?
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