The Wall Street Journal

Why so many people get financial advice that is wrong for them

Why so many people get financial advice that is wrong for them
Not everyone struggles to save – some struggle to spend. (Image: File)
The Wall Street Journal
By Shlomo BernartziThe typical American consumes about 4.5kg of chocolate a year. That’s a lot of chocolate. The typical Kiwi consumes a little bit more: 4.8kg.But averages can be misleading. Around 10% of Americans don’t like chocolate at all.So, what does chocolate aversion have to do with financial planning? Quite a bit, actually.Just as some people reject chocolate despite its popularity, many Americans have financial preferences that deviate from conventional assumptions. Some want their money locked away rather than liqui...

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