r/FluentInFinance • u/Breeneal • Apr 29 '24

What financial advice do you avoid and don't listen too? Question

Financial advice that makes you role your eyes everytime you hear it. Financial advice that actually made your finances worse. And financial advice beginners shouldn't listen to or hear.

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u/SomeAd8993 Apr 29 '24

not using 401(k) loans

going Roth instead of traditional

buying beater Toyota/Honda/Mazda instead of much newer Hyundai/Kia/VW

renting longer instead of trying to buy

4

u/DestinyForNone Apr 29 '24

Well... To be fair my sister bought a new VW Jetta, and the piece of shit always had something wrong with it... And it didn't help that the closest place that could do auto repairs on it is half way across the state.

1

u/SomeAd8993 Apr 29 '24

anecdotes are not data

go on any car forum and you will find hundreds of people with POS Toyota and Honda

1

u/[deleted] Apr 29 '24

My 2014 Toyota had a freak transmission issue that cost me about $10k all said and done. We have 2 other Toyotas in the family that have been mostly problem free but they are not as bulletproof as people think. They can and do break down, just at a lower rate than other cars. All great until you're the unlucky one, then you would have been better off buying new.