There are many misconceptions about financial intelligence that exist within our society. One of them is about taking loans. Many people believe that debt is essential for success. We are constantly encouraged to buy things like apartments, cars, or expensive goods, often using credit. Debt has become such a normal part of life that many cannot imagine living without it. But is debt truly a tool for prosperity? Or, maybe debt is a trap that holds us back?

Some argue that debt allows people to reach their goals faster. Buying a house, starting a business, or going to school may seem impossible without borrowing. However, growing evidence shows that debt may not be as helpful as we think. In fact, many successful people and companies have a rule to avoid debt. For example, 75% of the wealthiest individuals in the world recommend staying debt-free. Companies like Harley-Davidson and Cisco operate without debt and are still thriving. This shows that being free from debt can be more valuable than the quick rewards loans may offer.

Retirement is another area where misconceptions persist. Some people believe that retirement will automatically solve their financial problems, but this is untrue. Waiting for a magical solution, like a large inheritance or government assistance, is risky. Instead, it’s crucial to take responsibility for your future by saving and investing wisely. Relying on someone else to rescue your financial situation is unrealistic.

Another common myth is the idea of "get-rich-quick" schemes. Many people are drawn to these methods, hoping to find a shortcut to wealth. However, the truth is that building wealth takes time, discipline, and effort. There are no secret formulas or magic investments with which you will wake up a billionaire the next morning. Wealth is created through consistent actions like saving, investing, and making smart financial choices. This process may not be easy, but it is simple to understand.

Lastly, gold is often seen as a safe investment during economic crises, but this, too, is a myth from a fairy tale. While many believe gold will protect their wealth, historical data shows that its performance is mediocre. Gold’s value barely keeps up with inflation and offers no real protection in tough times.