Making bad financial decisions by the average investor can be excused – we were never taught financial literacy and the complexity of investment choices, taxation, estate planning, insurance, etc., does not make it easy. Not to mention the financial press doesn’t help with their need to get our attention with frequent “end of the world reports”. In many ways we are not wired to manage the volatility of the equity market given our very healthy instinct for self-preservation. However, giving bad financial advice, as a financial professional, is inexcusable and unfortunately, still too common.
This short article from Ben Carlson will help you know when you’re getting bad advice: Are you getting bad financial advice?