USA Today published 10 financial myths April 18. I thought I might spend some time with them and you.
The first myth is: The more I know about investments, the less likely I am to fall for scams.
It seems a little knowledge can lull folks into overconfidence which may not help detect frauds or inappropriate investment products.
Some might say my limited knowledge can be a dangerous thing.
The second myth is: Your fund's performance is the main factor in the growth of a retirement account.
The most important factor in growing your retirement nest egg is not the fund's performance (over which you have no power) but rather your saving more. It's more important to set savings goals and work toward them than trying to select a hot fund.
'til later
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