Back in the good-old days of the 20th century, building a financial nest egg made good common sense and consistently succeeded to fulfill goals for later-years security. But not anymore. Even though the sacred mantra of save, save, save, falls from the lips of financial advisors everywhere, it is losing strength as the all-powerful personal finance strategy.

Your financial advisor is not likely to tell you this, however, because 1) he or she is uninformed or, 2) if they are, informing you might very well put them out of business.

Who would argue against the fact that times have changed, including economically? And yet, personal finance strategies have remained frozen in time: Work for a company that hopefully has full benefits, save a nest egg, purchase a home and invest as soon as you can, create a budget to manage your spending, etc.

Of course, financial advice gets tweaked per an individual or family situation, but at the end of the day, such advice is founded on historical, strongly held beliefs about how money works. Heaven forbid should anyone question them!

As a result, no matter how good you might be at making, spending and investing money, you