Avoid costly financial products from "summary" of I Will Teach You to Be Rich: The Journal by Ramit Sethi
One of the most important principles when it comes to managing your finances is to be wary of expensive financial products. These products can come in many forms - from high-fee mutual funds to complicated insurance policies. They are designed to make money for the companies that sell them, often at the expense of your own financial well-being. When you invest in costly financial products, you are essentially giving away a portion of your hard-earned money for no good reason. These products may promise high returns or fancy features, but in reality, they often underperform simpler, more cost-effective alternatives. By avoiding these expensive products, you can keep more of your money working for you and avoid unnecessary fees and charges. One common example of a costly financial product is activel...
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