Why You Are Not Rich: Financial Misconceptions That Hurt Your Bottom Line

Personal finance is rife with misconceptions, myths, and bad advice. For many, bad advice is why you are not rich.

Following the wrong advice and making bad investment decisions can make it difficult for you to reach your financial goals and prevent you from getting rich in the long term.

Here are seven personal finance myths that explain why you are not rich and what you can do to overcome them.