Why is the personal finance genre so lucrative? Why do finance gurus get their own TV shows? Too much of the time their advice is utter garbage. Here’s why you might want to throw out what doesn’t work:
5. Financial “experts” want you to see what’s important to them and implement solutions their way. Dave Ramsey: all debt is bad. (It’s not.)
4. Every guru has his/her own perspective, and their advice is relevant to that perspective. If you’ve been reading what we’ve been saying you’ll know that we believe we all have one of 7 natural financial paradigms, and the recipe for success for one probably won’t work for all. One size does not fit all. (Find your paradigm here.)
3. Financial authors may try to scare you into taking the action they think is right or treat you like an idiot. With titles that include words like “apocalypse” and “for dummies” it’s no wonder most people feel alienated from participating fully in their own financial lives.
2. Their “easy” tips and steps toward financial success aren’t easy at all. Have you seen the contents of Tony Robbins’ new book? No. Not easy at all.
1. Sometimes financial gurus prevent people from getting to where they want to go. Maybe they don’t mean to, but canned advice is rarely implemented well and keeps the market for financial self-help ready to spend more on more advice!
If you follow their wisdom to the letter and it doesn’t work, do you blame yourself? Or do you recognize the fact that the guru didn’t create their system for anyone but themselves or whatever group they’re endorsing? Have you noticed that following canned financial recipes often require you act contrary to your nature? Who wants to live like that? It’s like trying to stick so some insane diet!
Our solution: To redefine financial truth so you can actually understand it and use it easily and well. Our goal is for do your next thing, experience your next level, and live a wealth-based life without changing who you are. We can help you enjoy your money.
Know yourself. Know what you want. Find the right coach. Evolve with your money.
Disclosures: The opinions voiced in this material are for general information only and are not intended to provide specific advise or recommendations for any individual. They do not necessarily reflect the views of LPL Financial.
No strategy or process assures success or guarantees against losses.