Why Financial Advice Today Sucks

The Ramsey Edition (as I assume many will be)

Welcome back Anon.

I assume many, if not most or all, of you are similar to me in your avoidance of most mainstream information. It is all junk targeting the lowest common denominator audience.

Maybe you check-in from time-to-time out of morbid curiosity, but after a few seconds you have to turn away in disgust. Either it is sensationalized, incorrect, or heavily skewed.

But sometimes there is no avoiding it. Whether through work or acquaintances or family they throw something at you and look to you for an opinion.

Well this week was one of those weeks.

A financial service at work that sends weekly emails sent a post and a day later Mama F’er texted the same post. And boy, its a doozy.

I may fry a few of your braincells this week by sharing snippets of this, but it is an interesting view into the type of advice that is getting thrown around at the masses. (And don’t worry, this isn’t limited to Boomer news articles, as twitter is full of atrocious takes as well).

But today, we will stay focused on the Boomer of all Boomers and his most recent Grandpa ramblings of “talkies” and “nickel hard candies”:

The irony is this is the exact reaction I had when reading the “advice”.

So this week we will go down the rabbit hole and find out why ‘saving 15%’ of an average income will not, in fact, make you 8-figures. Why following Boomer advice won’t make you a millionaire. And even if, by some feat of God Almighty, you happen to hit $1,000,000 at retirement following the advice, it really won’t be what you are envisioning.

So come join F’er as we have a hearty but sympathetic chuckle at the expense of the masses, disprove every claim in this trash heap, and learn a thing or two to ensure we do much, much, much better than our age cohorts.