Your Parents’ Financial Advice Is (Kind Of) Wrong

The personal-finance playbook followed by past generations doesn’t add up for many people the way it used to. It’s time for some new money rules.

Liz Weeks listened to her parents. Go to college, they said. Then get a good job, save for a down payment and buy a home. That was how they achieved financial success.

So she followed their playbook. She borrowed more than $165,000 to attend the University of Rochester, and then law school at Syracuse University. Now 32, she is a regulatory attorney in Seattle.

Julia Carpenter | WSJ

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