October 19, 2014

When identifying who to trust when getting advice on money, what concerns should you have? Where do you turn? Where do you avoid? Why?

2 thoughts on “October 19, 2014”

  1. Garrett Haag says:

    You need to avoid people with a conflict of interest, sales people want to sell you stuff that makes them money so they will not sell you the best products, you want to learn from teachers who have your best interest in mind. Books by John Bogal, Warren Buffet, and others like them are the way to go. You do not go to a life insurance agent to ask him if you need life insurance, he will aways say yes to the most expensive type because he wants paid.

  2. Mike Finley says:

    Well said, Garrett! Let’s review.

    (1) Did they know what they are talking about? (2) Do they have a conflict of interest based on the products they sell through commissions. Take your time when listening to people about money. Most people are not as wise on the issue as they may appear (and that includes the investment broker, your local financial advisor and life insurance agent).

    Focus on learning from people like John Bogle, Burton Malkiel, Charles Ellis, Jane Bryant Quinn, and Eric Tyson. When seeking help with your investments, look toward a fee-only financial planner. You can find one by going to napfa.org. Awake!

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