The most treacherous beliefs are the ones that are never questioned.
This doctrine applies to both your health and wealth.
The fitness industry isn’t immune to spreading misinformation on a colossal scale. Many “Influencers” are more concerned with clicks as as opposed to facts. Our health hasn’t profited from this new age of unlimited data and advice.
Here a few myths we confuse for truth.
- Cardio is the leading way to lose weight – Running and the like burn calories and are heart healthy. The problem is no exercise can outrun a bad diet. If you burn 2000 calories running 10 miles and consume 2,500 in a post-meal workout, the math doesn’t math. Strength training improves metabolism and burns calories all day. Cardio is the consensus for weight loss while weight training is overlooked to the detriment of long-term results.
- Carbs make you fat – Carbs are the body’s preferred energy source. They provide energy for the brain and physical activity. Eating quality carb sources and not exceeding your daily caloric intake goals won’t make you fat.
- You can only absorb 30 grams of protein in one sitting- Nobody is quite sure where this urban legend came from but it is patently false. Protein is essential for muscle maintenance and growth which is vital to ward off metabolic diseases like type-2 diabetes. Protein also satiates and keeps you from overeating. Most people don’t consume enough protein.
- You can spot-reduce fat- Fat loss occurs evenly across the body and everybody stores fat differently. This is why some people have trouble losing it from their midsection. Caloric deficit is the way to reduce fat, not the Ab-Blaster from HSN.
- Lifting weights is dangerous- The fact is losing muscle and mobility as you age is lethal. Resistance training is the super drug for longevity and and also provides data tested mental health benefits.
Not to be outdone, the financial services industry provides its fair share of misconceptions designed to sperate you from your hard-earned money. Many of these falsehoods don’t survive because they’re true. They endure because they’re convenient ways to sell products.
Source: A Wealth of Common Sense
- You need to buy a home because it’s a great investment. Real Estate Brokers and Mortgage Bankers push this idea because it’s how they get paid. The truth is more nuanced. When you factor in the costs of home ownership, purchasing a house often lags other investments which could’ve been acquired by renting and saving the rest, A home is a place to live and there’s nothing wrong with buying one. The idea of it being a great investment is much more debatable.
- Diversification means owing a myriad of stocks and funds- A person with 3 or 4 ETF’s could have considerably more diversification than someone who owns dozens of investments. It matters what the funds own, not how many you possess. Diversification equates to spreading risks, not accumulating products.
- Variable Annuities and Whole Life Insurance are tax-advantaged wealth building tools – While these products work for a select group of investors, the vast majority of individuals should stay far away from commissioned salespeople hawking these commission -laden products. It’s far wiser to maximized your 401-K and Roth IRA (if eligible) before going anywhere near these “investments.”
The bottom line is question everything. In this brave new world of AI generated deepfakes, it’s never been easier to trick people into actions that destroy both health and wealth.
The only beliefs worth holding are ones than can survive being challenged.
