MoneyWise


Three Money Myths

August 31, 2018

Myths can be wonderful things inspiring and cautioning us. The noble King Arthur and his round table, or Icharus flying too close to the sun and melting off his wings. Myths only become a problem when people believe them. Money is the subject of many myths, and too many people have come to believe them as truth. On this edition of MoneyWise, Rob West and Steve Moore looks at three of the most common financial fantasies. 

Next, they answer your questions at (800) 525-7000 and questions@moneywise.org about the following:

  • If you recently bought a house for your daughter - a single mother of 5  with no support from her ex-husband, how do you now free yourself of that mortgage?
  • Are there any current tax laws or government incentives to help first-time home buyers?
  • If you just turned 67, what are the pros and cons of applying for Social Security now versus later?
  • If you recently sold and investment property because owning it caused financial problems and your credit cards are in a state of collection, what’s the best approach to pay the credit cards off with the proceeds?

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