Quote:
Originally Posted by Fuzz
To say "they were told to" by people who's careers depend on them saying these things for business, welll...
|
That's an under-rated observation, imo. Thinking about the incentives of people you deal with is super valuable.
One way to do this is ask: "how much money does the person giving this advice make if I follow it vs if I do the exact opposite."
This applies everywhere, not just financial advisors who get paid on invested funds but not mortgage paydown. I had a dentist who wanted to drill a bunch of "micro cavities". I asked him to show me the xray, and he said you couldn't see them on the xray yet. I got a second opinion and (my new) dentist said there wasn't anything there clinically either.