Running_Man
Thinks s/he gets paid by the post
- Joined
- Sep 25, 2006
- Messages
- 2,844
Every person needs to assume responsibility for their own finances. I believe this because it takes money to live in this world. There are plenty of fine books to learn this from. You can survive quite well in this world without woodworking skills, and if you do not have good wood working skills can still probably tell a fine piece of furniture from mass produced junk. But every woodworker needs to know how much to charge for their product.
An individual who is ignorant about money and relies on a financial advisor has set himself to the whims of the quality of the individual they deal with, hopefully they will find an individual of the quality of Finance Dude. Yet only upon acquiring the knowledge they need to run their own finances can they independently judge how good their financial advisor is, and then they should not need one!
I would support an early consultation as a means for mentoring to learn about money while one is young and early in the accumulation phase. It is unfortunate for anyone ignorant about money to become suddenly thrust upon a pension cash-out or an inheritance or life insurance proceeds later in life with little interest in managing their money.
An individual who is ignorant about money and relies on a financial advisor has set himself to the whims of the quality of the individual they deal with, hopefully they will find an individual of the quality of Finance Dude. Yet only upon acquiring the knowledge they need to run their own finances can they independently judge how good their financial advisor is, and then they should not need one!
I would support an early consultation as a means for mentoring to learn about money while one is young and early in the accumulation phase. It is unfortunate for anyone ignorant about money to become suddenly thrust upon a pension cash-out or an inheritance or life insurance proceeds later in life with little interest in managing their money.