Don't take financial advice from a newspaper

One of my pet hates about reading mainstream financial media is the silly advice one often counters. For example, you might come across comments like 'you should invest in shares/property/[pick your favourite asset class] because the 'rule of 72' says that, with growth of 9%pa, your investment will double after 8 years.' Financial types love non sequiturs as much as politicians! Earlier this week, News.com.au ran an article that possibly takes the cake when it comes to nonsense, illogical 'investment advice'. 'Many super savers miss out on maximum investment benefits' suggests that one of the disadvantages of retail super funds...

One of my pet hates about reading mainstream financial media is the silly advice one often counters. For example, you might come across comments like 'you should invest in shares/property/[pick your favourite asset class] because the 'rule of 72' says that, with growth of 9%pa, your investment will double after 8 years.' Financial types love non sequiturs as much as politicians!

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