Ramit Sethi says these old tips from your parents don't work anymore and they can end up costing you millions

"Saving is important. However, simply hoarding cash will not help you build wealth. Because of inflation, you have to keep growing your wealth, not just keep it tucked into a savings account."

"Sticking to the 'old' advice can potentially cost you millions. Many of these older habits simply don't work in the new world."

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