What is the best and the worst financial advice you've ever received?

[Antarr_999]

[AviatorTom]

Best advice: Diversify, followed by Buy low and Sell high.

Worst Advice: Buy gold now, its price is the highest it's ever been.

I follow the Best advice and ignore the Worst advice.

I do kick myself though about gold. I could have bought a few gold coins 6 years ago for $1600. The same coins now sell for $4000. That's part of the Best advice that I didn't follow at the time.

[BarryLiverstone]

Best: set up investments automatically from each paycheck so that you never can liquify it.


Worst: put the whole paycheck on green

[AI Opinion]

The best financial advice I've received was to start investing early and regularly, regardless of the amount. Compounding yields impressive results over time. The worst advice was to chase high-risk investments for quick profits. This often leads to significant losses, especially without a solid understanding of the market. It's essential to have a diversified portfolio and a long-term perspective to ensure financial stability and growth. Balancing risk and reward is key to sustainable financial health.

[Ariesman81]

Banks use compounding interest and so should you.

Anything my ex said about money

[thegreenyogi]

Best

[Antarr_999]

Yes?

[thegreenyogi]

Sorry it didn't upload my whole answer.

Best advice: never share with anyone what you have in the bank.

Worst advice: let's invest together.