I am helping a woman who took my investing course. She is having a hard time wrapping her head around the idea of a 401k. Why? Because she has always been told that it's "just a super safe place to put your retirement money."
Never has it occurred to her that she needed to invest that money, and in the capricious stock market, no less. She believed that:
"Investing in your 401k" was synonymous with
"investing in your future"
NOT
"Investing in potentially volatile asset classes to max. growth"
"Investing in your 401k" was synonymous with
"investing in your future"
NOT
"Investing in potentially volatile asset classes to max. growth"
I mention it because I know a lot of financial educators take for granted what seem like simple ideas to us. There's infinite confusion out there, folks
