Sun Jun 16 2024, by Tyler Gardner

4 Biggest Investing Myths Debunked

Here are the four biggest investing myths that I heard throughout my time as a financial advisor. I'm Tyler, a former financial advisor and portfolio manager, and I create financial content for free so that you don’t have to pay for it.

1. Investing is Only for the Wealthy

Wrong. Investing is how you build wealth. You are bombarded by lies from fake financial gurus telling you they are self-made millionaires by 25 with 12 streams of income. This creates a completely false image of what investing is. It’s not your fault. Investing is not sexy; it’s the 1% of your paycheck that you put into a 401(k) or a Roth IRA to feel like a badass.

2. You're Too Young to Invest

You will never, and I mean never, have a better chance of becoming a millionaire than by investing today. This isn't because of market timing or some get-rich-quick scheme. It's because today you have access to more time than you will ever get again for the rest of your life.

3. You're Too Old to Invest

If you're in your 40s or 50s and really think you’ve missed your investing window, ask yourself: do you think 20 to 30 years of investing isn't a big enough window? Start today. Open up that Roth IRA and invest in a low-cost index fund. Your 75-year-old self is going to thank you over and over and over again.

4. You're Not Smart Enough to Invest

Congratulations! That’s exactly what the finance world wants you to think. Otherwise, they’d be out of a job. But guess what? You are smart enough. If you type, “Hey, help me get started investing in a low-cost index fund” into ChatGPT for free today, you'll be on your way.

If any of this information is helpful, please like and follow, and I’ll keep sharing insights to help you get one step closer to where you need to be. And sorry about the sun; it's a very low-budget operation we’ve got going here.

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