Quote:
Originally Posted by bizaro86
Every time I go to my bank (usually only if I need a draft or to modify a mortgage) they try to sell me one of two things:
A personal unsecured loan at a rate approximately double the rate they can see I have on my unused HELOC
A mutual fund that will structurally underperform due to institutional imperatives in management and high fees.
I think both would be equally hazardous to my financial health.
|
Lol, yeah well I’m not suggesting that people should go to the bank and it would be a good choice. I mean, I’m obviously biased in where I think people can get useful advice. But the truth is that for someone just starting out there are worse places than a bank. The important thing is to start saving, and while there are better or worse choice to begin this, saving somewhere is really the first step. Once you have a decent amount saved though, you can always move it elsewhere.