You know him from Ferris Bueller’s Day Off, several game shows branded with his name, numerous commercials, etc., etc. But did you know Ben Stein is also an economist and personal finance maven? (He doesn’t call himself a personal finance ‘expert’—but, y’know, he’s an economist, so that’s probably modesty talking.)
He’s also an award-winning author, and his latest book, How to Really Ruin Your Financial Life and Portfolio, is a New York Times bestseller. In it, he discusses the common pitfalls that have taken down more than a few Americans’ bank accounts and life goals—and how to avoid them.
Quizzologists think it’s worth a look, so read this interview Ben Stein did with Forbes.com and consider checking it out.
But, hey, maybe you’re pressed for time, so here are his top three pieces of financial advice for young people, as told to Forbes:
- Start saving regularly at a very young age. Start summer jobs or part-time jobs, save as much as you possibly can.
- When you do save, save in a safe way which I would say by buying index funds and buying funds that do not rely on stock picking.
- Make a very careful plan for how you’re going to eventually retire even if it seems like it’s an unimaginably long way away, it comes up upon you very, very quickly.
Young people, are you paying attention? Bueller…? Bueller…?