Below you will find answers that someone should have given you when you were 25.

“You can be a millionaire.”

Good news! Just probably not if you try to be one by 30. Pull up a financial calculator. Plug in $1,000,000. Number of years to age 65. A reasonable rate of long term return. Calculate how much you need to save monthly to reach it. Want to increase your amount or speed? Save more.

“Get rich quick, easy, and sure.”

You may hear it constantly. Someone will get rich quick. Only it’ll be the guy selling the scheme, not you. Don’t chase genies.

“Time the market.”

In the midst of a correction, people say, “I’m cashing out before I lose more. I’ll get back in when it’s safe.” I respond, “Describe for me what the day looks like when it’s completely safe. Then you have a plan. Otherwise, it’s a fairy tale.” Of course, fairy tales always have happy endings, right?

“Buy low, sell high.”

A neighbor, who’d never invested, was telling me how easy investing is. I responded, “That’s brilliant.” Only one problem. Most people do exactly the opposite because of emotion. So instead invest every month. Up or down. When down, you buy more shares.

“You can’t lose money.”

Someone announces about the latest perfect investment. “You’ll double your money fast.” I’ve watched it with dotcom stocks, houses, gold and Bitcoin. Believe me, someone will always figure out a way to lose money. So spread the risk.