We’ve been raised to believe that saving for retirement is an absolute truth. What if everything we’ve been told was wrong?

A Bloomberg Business report notes that Thomas Anderson thinks so. He is a former financial adviser at Morgan Stanley and now works as the leader of Supernova Cos., a firm that sells educational materials and tools to advisers. He also wrote a book, titled The Value of Debt in Building Wealth. He has some interesting takes on debt;.

Thomas Anderson

“In our anti-debt world, most people are taking on too much debt too early in life and paying down that debt too aggressively. As a result, they are not saving until later in life.”

In his book, Anderson says it is important to try to save at least 15 percent of your income. He also offers some advice that will perk up the ears of real estate professionals.

“The best way to feel rich is to live in a less expensive home than you can afford.”

Anderson isn’t one for solutions that fit everyone. He views people in a range of financial states, from just starting out to super rich. Anderson also writes that it is important to carry more cash and assets that can be divested in case of an emergency, such as a job loss.

“You’re not going to want to take just the first job that comes up. You’re going to need to ride it out” for three months, six months, or even longer.”

Anderson stresses liquidity. He notes that having $1,000 in the bank may be better in the long run than having the same amount tied up in a retirement account that penalizes you when you need to take it out. He also takes a wary view of stocks and real estate, which he describes as being at “record prices.” He notes that markets that go up ultimately must come down.

Liquidity, the ability to access your money when you absolutely need it, is a key concept for Anderson. A thousand dollars in the bank is more useful than $1,000 tied up in a retirement account that charges a penalty for withdrawals—or in collectible figurines.

“Then you have the flexibility and liquidity to step in and buy.”

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