Don't be fooled by these 9 common money myths, finance gurus say

This used to be true, but has changed in the Covid era, credit expert John Ulzheimer said.

"Where does that huge gain come from? It comes from eliminating costly mistakes and taking advantage of sure wins," said Benartzi, who along with Nobel laureate Richard Thaler pioneered the concept of "nudging" investors to boost their savings over time. Conventional thinking holds, where can you get the highest return with your extra money? If your mortgage interest rate exceeds your likely return in the market, it generally makes sense to pay off the mortgage faster.

But a mortgage paydown is akin to a guaranteed "return," she said. The only fair comparison is to the return in an account that's similarly guaranteed, such as FDIC-insured investments, said Benz, author of "30-Minute Money Solutions: A Step-by-Step Guide to Managing Your Finances.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CNBC Special Pro Talks: How top women in finance are putting money to workCNBC Pro is rounding out Women's History Month with three of the best female investors around. CNBC 'Halftime Report' Supervising Producer, Patricia Martell, sits down with Requisite Capital Management's Bryn Talkington, Gilman Hill Asset Management's Jenny Harrington, and SoFi's Liz Young to discuss their impact on the industry, how they are investing in today's market, and to answer your questions.
Source: CNBC - 🏆 12. / 72 Read more »

Investors prefer dividend stocks into the second quarter as volatility persists, CNBC survey showsAsked which area to concentrate on to start the second quarter, 34% of respondents said high dividend stocks. Vol is at record lows lol
Source: CNBC - 🏆 12. / 72 Read more »