For young professionals new to the workforce — particularly recent college graduates — here are four common money myths that have been passed down through generations, debunked.
The idea has likely inhibited women and people of color in particular from being confident about investing, Ransom-Cooper says.
The gap has begun to close, though, with 58% of Black Americans investing in 2022, compared with 63% of white Americans.
What's more, young professionals do not have to wait until their student loans or other outstanding debt is completely paid off to begin.
Investing early and growing your retirement savings, for example, are valuable ways to build wealth outside of the real estate market.
Persons:
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Organizations:
Zenith Wealth Partners, CNBC, Investor Survey, Roth IRA