Terrible Advice I Hope Young People Ignore (@TMFHousel @MONEY)

Earlier this week on Business Insider, financial writer James Altucher did a video urging young people to scrap the idea of saving in a 401(k). Morgan Housel explains why this is a horrible idea:

Full article at Money Magazine

"I like James Altucher. He’s a sharp writer and a smart thinker. It’s just those kinds of people — people who know what they’re talking about — who deserve to be called out when they say something silly.
Altucher did a video with Business Insider this week pleading with young workers not to save in a 401(k).
It is — and I’m being gracious here — one of the most misguided attempts at financial advice I’ve ever witnessed. It deserves a rebuttal."


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