7 Personal Finance Myths Preventing You From Being Rich

Myth #4: “Having a Debt is Bad, No Matter What”

Getting caught in a debt trap and paying interest for years on end is something that no one wants to go through, but it does not mean that you should not go into debt at all. There are certain cases where going into debt might actually be beneficial for you. For instance, if you wish to pursue college, you may have to obtain a federal student loan, which typically have low interest rates. In many cases, the interest you pay can also be deducted from your taxes. Considering the fact that a college degree can open the door to better, higher-paying job opportunities, a degree is vital for most people. Similarly, if you have a steady source of income and have saved up enough money to make the 20% to 30% down payment, usually necessary to obtain a decent interest rate, buying a house might be a worthwhile idea.

Small-cap winners galore

The big stock market winners share one common attribute: Near the beginning of the ascent of their shares, the companies offer revolutionary products or services, are market leaders in their respective industries, or both. Some big stock market winners that possessed the attributes outlined above are Netflix (NFLX), which we recommended to investors in October 2002; Intuitive Surgical (ISRG), which we bought and recommended in July 2004; Baidu.com (BIDU), which we bought and recommended in August 2006; and MercadoLibre (MELI), which we recommended to investors in October 2010. Get up-to-date small-cap stock picks from David Frazier, editor of Small-Cap Profit Confidential.
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Smarter cryptocurrency investments

The stock market crash of 2008 was the catalyst for his journey into alternatives. And interestingly, it was the impetus behind the creation of Bitcoin and the blockchain technology behind it. Keene Little wasn’t ready to risk his money yet but he was very curious, so he began charting Bitcoin’s technical patterns. What finally convinced him to dip a toe into digital currencies was seeing that they followed familiar price patterns that could be analyzed and successfully acted on. Now he shares those insights with subscribers to the Crypto Wealth Protocol.
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