Why you can’t afford free financial advice?
Nearly everyone wants to be rich, yet very few people take the necessary steps.
A 2015 study by Northwestern Mutual found that roughly 34% of the 5,000-odd survey respondents had not planned for their financial future and 43% had never sought any advice on retirement planning. Also, quite tellingly, 58% of the respondents believed their financial planning efforts required serious attention.
Yet, just a small fraction of these individuals will consider actually paying for financial advice. Most of them will invariably turn to a friend, family member or a salesman masquerading as an investment adviser to prepare a financial blueprint.
And that’s how the best-laid plans go awry.
Free service is a myth—it simply doesn’t exist.
The financial advice from free sources is generalised and offered on the assumption that one-size-fits-all. In reality, every individual is different. They may be working in the same organisation, earning the same salary and living in the same housing society. But their financial situation can be poles apart.
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