Saturday, February 10, 2007

Free Financial Advice is Dangerous

People all around the world keep soliciting free financial advice. In reality, many billion of people on the planet today and not even a single soul has ever become rich from free financial advice. On the other hand, rich people pay money for financial advice and get quality advice from professionals (e.g. tax advisers, bankers, brokers or lawyer).

So, stop getting hot tips from people and stop soliciting for free financial advice. Free financial advice is dangerous and sometimes may cost you more if you listen to the wrong advice. Pay for financial advice.

Having said that, paying for financial advice doesn’t mean guarantee wealth. It also depends on the motives of your financial advisor. They may have different motives when they give advice to you. Probably they just want to sell their product to you and get the commission out of it regardless of your financial situation. Therefore, choose your financial advisor wisely. Personally, I prefer independent financial advisor who doesn’t belong to any company. This way, I know at least the advice that he gives me doesn’t have any bias. Of course, the best is if you could find an advisor who is handling your rich friend’s financial and get a good recommendation from your rich friend.

Paying for financial advice is not limited to financial advisors. It also means paying for financial books, financial seminar, financial qualification certificate, and etc. Why still wait? If you don’t wan to hire any professional, just go and buy some books to read.

See my Financial Books Reviews

P/S: I'm not a financial professional either. I just like you trying very hard to become financially independent and achieve financial freedom.


Blue Planet said...

Very well said. Nothing comes free...

ChampDog said...

Yupe, nothing comes free. The sad news is sometimes even though something does come free and we miss it.

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