Why You SHOULDN'T Invest
I have a contrarian viewpoint that differs from the general consensus of 99% of finance books and the guidance offered by finance experts. Many people hate my take on this topic. However it is my belief that it is crucial to heed advice based on experience rather than mere theory. In my personal experience, I have found most finance books, gurus, and conventional advice to be plain incorrect or difficult for the average person to successfully pull off while living a quality lifestyle. One of the most misguided recommendations I have heard is to invest one's money. Specifically, I’m referring to investing in stocks, bonds, 401ks, Roth IRAs, etc. Effectively, anything that involves stocks or tools that function similarly to stocks. Let me preface my remarks by acknowledging that investing in assets, building one's wealth, and harnessing the power of compounding interest are all essential. However, the issue with much of the counsel imparted by finance experts is that they exhort people to start investing as a primary goal. I have read countless finance books, and they all espouse the same advice- if one has only a thousand dollars, a significant portion of it should be directed towards a Roth IRA, which will compound over time, eventually making one a millionaire. In my opinion, this is flawed advice.