Advice #1: Be skeptical of people that make you big promises. I’m not saying that extraordinary claims can’t be true but there is a lot of dishonesty in the financial industry. Be a prudent shopper.
Advice #2: Always be aware of how a service provider makes money. They will always have a bias towards the actions that make them the most money, even if they’re not in the best interest of the client. Depending on their honesty and/or fear of legal reprisal they might not hurt the client to make more money but a potential conflict of interest exists nonetheless. Always try to work with people whose goals coincide with your own.
Advice #3: Don’t spend more money than you have. If you can’t afford it don’t buy it. Recordkeeping is wonderful and essential. Know exactly what you have. If you then figure out exactly what you need, you can plan for the future. Figuring out how to convert what you have into what you need is a key part of financial planning.
As I’m writing these to help my readers, I would be very appreciative of any input in regards to what I should write next. If you want me to write about a particular topic, please leave a comment or contact me. If you would like to submit a post to my blog, please contact me.
If anything that I mentioned above interests you, please consider downloading my free e-book. The book contains my thoughts on investment management and some information that I think everyone should know. You can also download it below.
Questions for the comments
Do you agree with the advice I gave? Do you have life examples that proves my advice right or wrong?