Now, this is fun. A U.S. blogger has taken a run at trashing some of the most popular ideas from personal finance writers like me. Among his targets: Emergency funds (not required by everyone), adding bonds to a portfolio for safety (he’s kind of down on bonds) and robo-advisers (they charge too much).
All of personal finance is debatable. I think at least a small emergency fund is a no brainer, as much for your peace of mind as financial security. Bonds are a hedge against a stock market crash and an economic downturn. And robo-advisers provide something essential for the fees they charge – a disciplined approach to investing that too many investors can’t stick to on their own.
But I’m not militant about all of this. If you have a different view based on sound reasoning, go for it. Personal finance doesn’t work on a one-size-fits-all model. More like one-size-fits-most.
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