7 signs you're taking money advice from the wrong people
ESB Basic/Getty Images
- If you're taking money advice from the wrong people, you might be getting inaccurate information.
- If you're following trends, not doing your own research, and not consulting a financial professional, you might be taking money advice from the wrong people.
- And, if you wouldn't trust them as your financial planner, you might not want to be taking their advice.
- SmartAsset's free tool can help you find a licensed financial professional to help you build wealth »
If you're taking money advice from the wrong people, it will probably be easy to tell.While there is a lot of good money advice out there, there's an equal amount of bad money advice. If you find yourself blindly following advice without doing your own research, following the latest financial trends, and acting on advice impulsively, you might be getting some bad advice.Advertisement
And, if you aren't consulting with a financial planner before making moves, you could be taking some of that bad advice.
If you're taking money advice from the wrong people, you might notice one of these red flags.
Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.
1. The information you're getting is out of date
2. You're not fact-checking your informationAdvertisement
3. You're trusting blindly
4. You haven't consulted a financial plannerAdvertisement
5. You're following the trends
6. You're taking advice impulsivelyAdvertisement
7. You wouldn't trust that person as a financial planner
- Assam reports 365 new COVID-19 cases; total mounts to 9,799
- Eight deaths, 1,892 new COVID-19 cases in Telangana
- Letter to Prez over DU not holding ECA trials in view of COVID-19
- Pvt labs starting TrueNat/CBNAAT based tests for COVID be encouraged for NABL seal: ICMR to states
- 2,520 fresh COVID cases in Delhi take tally to over 94K; death toll rises to 2,923