September 9, 2014
When educating yourself on money, conflicts of interests must be identified and should be eliminated. Why? How?
When educating yourself on money, conflicts of interests must be identified and should be eliminated. Why? How?
You should not go to sales men/ladies to learn about money, they will tell you that the best thing for you is the thing that makes them the most money, you need to learn from teachers that are looking out for you best interest, the person who cares the most about your well being is you. As the crazy man in the pink wig says you are the answer. You need to read books that tell you what you need to know, John Bogle, Worn Buffet and others like them are the ones you should be learning from.
Right again, Garrett. It is key that we understand how the “helpers” in the financial industry are compensated. Most are paid via commissions. Those commissions cause the conflict of interest as they “educate” you on the products and services they provide. Avoid talking to commission based salespeople.
Go out and find people who teach, rather than sell. Here are a few: Jane Bryant Quinn, Eric Tyson, Jonathon Clements, Jason Zweig, John Bogle, William Bernstein, Burton Malkiel, Rick Ferri, Daniel Solin, and Charles Ellis. By all means, take some time to listen to Warren Buffett as well. You can go to the investing basics tab on this website to see, hear and read more on this matter.