Is Financial Advice Always Sound?

I love reading about financial help and there is no shortage of it out there. It seems like everyone and their dog are dishing out financial help. You will find help on saving money, investing, retirement and so on. With so much information out there how do you know which information is good or bad? It can be hard. I tend to go with my gut. Everyone has different situations and so different info might work for them and not for others. I stumbled upon a great video that goes over some common advice that many people give that could actually be bad advice for some. The video is directed at youth who are just starting out in the real world. Do you agree with the following advice?

I agree with the advice they give but I do have a spin on the myth save, Save, Save that they talk about. They say that even if you have to stretch a little bit you should try and travel in your youth. I think that traveling is something that can really help someone to grow. It brings enlightenment, and knowledge to you. It helps you understand other cultures and other ways of living. It is a very positive thing for the most part. My spin though is this.. Why make traveling something you have to stretch to do? Why not save for a few months, a year so that you can go while you are young? If you can’t afford to travel somewhere far away and exotic why not save until you can? If that still isn’t realistic, why not save for a trip much closer to home? You can find some great experiences in your own back yard. Take a road trip and discover your own country, state or even city? There are so many ways you can travel that give you the basic benefits of traveling far away. I think we can find a way to save enough to go on a vacation. Sometimes you will just have to change the destination. I’d never tell anyone to not save.

At Accuplan we specialize in self directed IRAs and 401Ks. If you aren’t sure what a self directed IRA or 401k is then follow our previous links for some help. We can help you take your IRA or 401k and invest into things like real estate, gold or even business. If you are trying to take control of your own retirement a self directed retirement account is a great option. For youth out there that are just starting I would say investing in an IRA or 401k if possible is a very solid bit of advice. The earlier you take advantage of these retirement accounts the more impact it can have in your later life.

Contact us at any time for your retirement advice, especially with self directed IRAs and 401Ks

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