There are no “secrets” to success with money

If you’re searching for a financial “secret”, you’re going to be disappointed. You’d be better served by a better understanding of yourself.

I tend to roll my eyes at products that promise to tell you “secrets”.

“ Secrets of the ultra-rich!” “ Secrets of the top-performing athletes!” “ Secrets of weight loss (or weight gain)! “

I mean, I understand that there’s a strong allure to finding out a secret. If there was something that you could find out that would allow you to do something you couldn’t do before, wouldn’t you want to know?

But I’ve found over and over that there aren’t any secrets out there worth considering when it comes to money. That’s what you think you need to know, but it’s not.

The information is out there

Eliminate debt. Build wealth. Invest in assets that produce returns. Minimize volatility to reduce risk of loss. Utilize tax-advantaged accounts to maximize return.

Etc.

In general, all the personal finance info you need can fit on an index card.

People can disagree on the details (and disagree vehemently), but the fundamentals of personal finance are pretty much agreed upon. There’s nothing secret about it.

When someone claims that they have secrets, they’re probably trying to sell you something.

Read more at Empathic Finance…