Why you must understand finance BEFORE seeing an advisor

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This is an extract from my book, The Poor Man’s Guide to Financial Freedom: A Realistic, 10-Step Manual to Building Liberating Wealth on a Low to Medium Income.

            You might be wondering, why write a whole book about finance if you’re just going to tell me to see a financial advisor at the end anyway?  Couldn’t I have skipped the book and let the professional tell me what to do?

No.

You see, there are all sorts of problems with this industry.  Consider what happened the three times I’ve received professional financial advice in my life:

On the most recent occasion the advice was good.  The advisor explained how my investments would be taxed in my case, being a foreign resident, and this helped to confirm that the path I was pursuing was appropriate for my situation.  However, this advisor didn’t bother recommending his usual products to me as he realized from our conversation that I was canny enough to know that my existing investments Read More