There are some who want to take control of their finances by reading a book or consulting a financial advisor because they were good enough to realize they are not financially savvy. But you must be aware that there are several challenges and disadvantages when choosing a consultant.
It's also a problem when you learn to learn how to manage your finances. While reading a book is a good and fundamental part of your learning process, you can find sources that are not too reliable and get misinformed and there is something to avoid at all costs.
You might think that any restructured investment expert would make you rich but beware of it. I remember a one-time, best-selling personal finance book, which says "buy health insurance only if you are in poor health or an accident". There are two main problems with that statement. First, how in the world would you find a insurance company who is worried about making profit that expands policy when you have fallen into poor health? And secondly, please tell me how would you know when you're accustomed to an accident? It seems to me that if you follow this kind of advice you need your horoscope help to see disability come.
Also consider the famous Investment Sessions offered everywhere. These courses present a promising high yield that does not seem credible. The majority of these courses promise to return 20% per month to your investments and compare a 10% yield on the stock market in the long run, you can easily find some kind of fraudulent coverage.
Therefore, you must understand how all investment professionals become so popular, even with visible flaws in their advice. In most cases, these professionals work the media and, as many media members are financially illiterate themselves, they get a lot of coverage and coverage and get to know the media and get the opportunity to comment.
Be aware that talk shows and the media generally provide useful information about a wide variety of issues, but sometimes the bad advice appears. Do not assume that just because someone with something to sell is getting a good review is to be a good advice to you. It can only be a good job in public relations and marketing.
More importantly, remember virtually all newspapers, magazines, websites, TV, radio, etc. Are entirely dependent on advertiser money. And in some cases, these advertisers are the ones who rob the material you read, listen or view in the media.
You may be wondering how to distinguish or separate good editions from biased publications, and the following are some ideas about the subject.
First, consider how dependent ad serving is. For example, most of what appears on the internet is driven by advertisers. Many of the places that publish investment advice on certain stocks are obtained from securities companies looking for more customers.
Your feelings must always be clarified to determine whether any publishing, television show, or broadcast is intended for consumers and if you believe that they are looking for your interests or advertisers. For example, if you are reading a car edition and you see a lot of car manufacturers, are these publications talking about the importance of saving money when you buy a car or just telling you to buy a car in any way?