When I first began working in finance, I thought building wealth only meant becoming a CEO or investing in venture capital.
However, I quickly learned that this isn’t necessary to become an everyday millionaire. True financial freedom isn’t about getting rich overnight—it’s about making smart, sustainable choices with your money over time.
In a similar sense, today I want to debunk some common finance myths that often try to steer us in the wrong direction.
Buying Stocks is a Good Idea: This one is controversial. To clarify, buying individual stocks usually isn’t the smartest move for most people. While it’s exciting to find the next Tesla, it’s extremely risky and unlikely to happen—no matter what your friends might tell you. Instead, as Jack Bogle, the founder of Vanguard often advised, focus on low-cost index funds tracking broad indices like the S&P 500 or Total US Stock Market. These funds spread your risk across a diversified portfolio, allowing your money to grow without the stress of constantly monitoring the markets.
Credit Cards are EVIL: Let’s clear this up: credit card debt is evil—I fully believe that. But credit cards themselves? Not at all. In fact, they’re some of the most powerful financial tools available when used responsibly. By paying off your balance on time and in full every month, you can take advantage of perks including cash back and travel rewards for purchases you would be making either way. To learn more about top credit card options, check out our reviews here.
Money Doesn’t Buy Happiness: Honestly, I believe money does buy happiness—to a point. One of the biggest stressors in life is financial instability. If you can’t afford to pay your utility bills or meet basic needs, it’s challenging to feel truly happy as your fundamental physiological needs aren’t being met. Still though, you should never let money be your biggest focus in life since we cannot take it with us in the end.
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Your feedback and suggestions are always welcome, so feel free to let me know what you think!
Keep Saving,
Steve | Feasible Creative
"My only regret about money is that I don’t have more to give away." - Jack Bogle
Disclaimer: The content provided in this newsletter is for informational and educational purposes only. It is not intended to be a substitute for professional financial advice. Please consult with a financial advisor before making any financial decisions.
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