Ever hear phrases like "common knowledge" or "conventional wisdom"?

Typically, the reason knowledge is common and wisdom is conventional is because it's true, or at least makes sense. Otherwise, it presumably wouldn't have a long shelf life and get passed around for years.

But here's the thing: sometimes conventional wisdom is stupid and common knowledge is wrong.

Here's one of many examples: Ever hear someone say, "After you retire, your expenses will be much lower."

While it's possible that will be true, it's also possible it will be laughingly false. Depending on what you plan to do during your retirement years, you could easily be spending a lot more than you did while working. That's why you need to think about how you're likely to spend your golden years, then plan on where the gold will come from.

And that's just the tip of the iceberg when it comes to questionable, irrelevant, outdated or just plain bad money advice.

That's what this week's "Money!" podcast is about. We're going to list 20+ bad bits of advice, explain why they're off the mark and replace them with new conventional wisdom that's wise and common knowledge that's knowledgeable.

As usual, my co-host will be financial journalist Miranda Marquit. Listening in and sometimes contributing is producer and novice investor Aaron Freeman.

Want more information? Check out these resources:
13 Dumb Investing Moves — and How to Avoid Them
11 Dumb Money Mistakes That Are Holding You Back
My 10 Dumbest Money Moves — and How You Can Avoid Them
Stop Making These 10 Dumb Money Moves
7 Crucial Money Mistakes You Must Avoid
Penny Hoarder: 6 Pieces of Dumb Financial Advice That Most People Believe
Entreprenuer: 5 Pieces of Free Financial Advice You Can't Afford to Take
The 22 Most Foolish Financial Decisions Ever Made
The 23 Worst Pieces of Financial Advice We've Ever Heard
7 stupid things people do with their money that feel smart at the time
Subscribe to the Money Talks News newsletter
Take our course The Only Retirement Guide You'll Ever Need
Take our course Money Made Simple
Miranda Marquit's website

Ever hear phrases like "common knowledge" or "conventional wisdom"?
Typically, the reason knowledge is common and wisdom is conventional is because it's true, or at least makes sense. Otherwise, it presumably wouldn't have a long shelf life and get passed around for years.
But here's the thing: sometimes conventional wisdom is stupid and common knowledge is wrong.
Here's one of many examples: Ever hear someone say, "After you retire, your expenses will be much lower."
While it's possible that will be true, it's also possible it will be laughingly false. Depending on what you plan to do during your retirement years, you could easily be spending a lot more than you did while working. That's why you need to think about how you're likely to spend your golden years, then plan on where the gold will come from.
And that's just the tip of the iceberg when it comes to questionable, irrelevant, outdated or just plain bad money advice.
That's what this week's <a href="https://www.moneytalksnews.com/podcasts/">"Money!" podcast</a> is about. We're going to list 20+ bad bits of advice, explain why they're off the mark and replace them with new conventional wisdom that's wise and common knowledge that's knowledgeable.
As usual, my co-host will be financial journalist <a href="https://www.moneytalksnews.com/author/mirandamarquit/">Miranda Marquit</a>. Listening in and sometimes contributing is producer and novice investor <a href="https://www.moneytalksnews.com/author/aaronfreeman/">Aaron Freeman</a>.
Want more information? Check out these resources:
<ul>
<li><a href="https://www.moneytalksnews.com/12-dumb-moves-investors-make/">13 Dumb Investing Moves &mdash; and How to Avoid Them</a></li>
<li><a href="https://www.moneytalksnews.com/sidestep-these-12-common-money-mistakes/">11 Dumb Money Mistakes That Are Holding You Back</a></li>
<li><a href="https://www.moneytalksnews.com/my-10-dumbest-money-moves-and-how-you-can-avoid-them/">My 10 Dumbest Money Moves &mdash; and How You Can Avoid Them</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/slideshow-dumb-money-moves/">Stop Making These 10 Dumb Money Moves</a></li>
<li><a href="https://www.moneytalksnews.com/10-dumb-money-moves/">7 Crucial Money Mistakes You Must Avoid</a></li>
<li>Penny Hoarder: <a href="https://partners.thepennyhoarder.com/dumb-financial-advice-instagram/">6 Pieces of Dumb Financial Advice That Most People Believe</a></li>
<li>Entreprenuer: <a href="https://www.entrepreneur.com/article/302163">5 Pieces of Free Financial Advice You Can't Afford to Take</a></li>
<li><a href="https://www.newretirement.com/retirement/most-foolish-financial-decisions-ever-made/">The 22 Most Foolish Financial Decisions Ever Made</a></li>
<li><a href="https://www.stackingbenjamins.com/23-worst-pieces-financial-advice-weve-ever-heard/">The 23 Worst Pieces of Financial Advice We've Ever Heard</a></li>
<li><a href="https://www.businessinsider.com/personal-finance/stupid-things-people-do-with-their-money-that-feel-smart-at-the-time-2017-5">7 stupid things people do with their money that feel smart at the time</a></li>
<li>Subscribe to the <a href="https://www.moneytalksnews.com/#newsletter">Money Talks News newsletter</a></li>
<li>Take our course&nbsp;<a href="https://unb.moneytalksnews.com/retirement-guide/">The Only Retirement Guide You'll Ever Need</a></li>
<li>Take our course&nbsp;<a href="https://www.moneytalksnews.com/courses/money-made-simple/">Money Made Simple</a></li>
<li><a href="http://mirandamarquit.com/">Miranda Marquit's website</a></li>
</ul>

Welcome to Money Talks News: The Podcast, a podcast devoted to everything money: how to get it, how to grow it and how to keep it. From the creators of MoneyTalksNews.com, a leading source of personal finance news and advice since 1991.

Welcome to Money Talks News: The Podcast, a podcast devoted to everything money: how to get it, how to grow it and how to keep it. From the creators of MoneyTalksNews.com, a leading source of personal finance news and advice since 1991.

Money Talks News: The Podcast

25 Examples of Popular Financial Advice You Shouldn't Follow

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