Useless Advice

Most people who are looking for advice on the internet have no clue about the capability of the adviser. That is a disaster. Also:

• The biggest worry about such investing advice is whether the person getting the advice has understood it in letter and spirit?
• More importantly, will the person know how to implement it ?
• Also, who would handhold such investors in tough times ?

Personal finance cannot be generalized. Broad principles are universal, but actual application requires that decisions be made based on the specific situation. It is a set of principles and ideas, heavily borrowing from various disciplines and developed by practicing professionals from experiences. Therefore, a specific set of steps will not work for all.

For instance, one of the biggest risk that advisors manage is the untimely exit by the investor. Highly unlikely that it can be managed by advice on the web.