Financial expert says you can’t just save your way to secure retirement

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Once upon a time, all a person had to do was go to school, get a job, work hard, save money, buy a house, get out of debt, and live happily ever after.

But those days are long gone.

In 1970, it was possible to save your way to wealth and a secure retirement. But today, negative interest rates mean savers are the biggest losers. Tragically, most people continue to worship at the altar of saving money hoping that saving money will save them, their family, and their retirement from this global financial crisis.

Financial expert Robert Kiyosaki joins Fox 2 News at 11 to discuss the importance of financial literacy, and which finance strategies have become obsolete.