Category: Financial Advice

Is Your Financial Advisor Giving You Bad Advice? Modest Money6 Comments

Bad Financial Advice2 (1)

Bad financial advice can cause you to defer your retirement date, reduce your standard of living during your retirement years, and run out of money late in life. It is common sense that bad advice should be avoided at all costs.

However, you have to be able to identify bad advice to avoid it. This is easier said than done. You will need data and hindsight. For example, you get a quarterly performance report that shows you lagged your benchmark by several percentage points. Or, you find you are paying expenses that are so excessive, they are undermining your ability to achieve your financial goals. By the time you have this information – you have already lost money.

Source of Bad Advice

If you are like most investors, you do not have enough investment knowledge to second-guess the advice of your financial advisor. You tend to buy what the advisor recommends. After all, that is why you have an advisor – he is the expert.

However, bad advisors are the source of bad financial advice. It is much easier to learn how to avoid bad advisors than it is to learn how to be your own financial advisor.


You cannot avoid bad advice by…

This entry was posted in Financial Advice, and tagged Modest Money6 Comments
By : Adam | 4 Mar 2015
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Re-launching Your New Year’s Resolutions – Step 1: Be Money Conscious

By : Adam | 24 Feb 2015

This is a guest post by David Auten and John Schneider from Every year two goals top the lists of New Year’s Resolutionists, get healthy and get out of debt. Whatever the reasons, stress, laziness, financial duress or any other, these two goals appear …

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Here is Why You Should Never be Realistic Again

By : Adam | 21 Feb 2015

The other day I attended a conference about the economic crisis of 2008 and its impact on the French economy (I am French so that kind of interested me). The speaker basically told us that we were pretty much screwed for the upcoming decades. He …

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5 Ways to Make Extra Money with Less Time than You Think

By : Adam | 19 Feb 2015

Face it. Everyone can use some extra cash. Maybe you need to supplement your income in order to pay off some outstanding debts. Maybe you need to supplement your income in order to save more money for retirement or a large purchase. Or maybe you …

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A Different Take on Saving Money on a Used Car

By : Adam | 17 Feb 2015

It’s personal finance 101 that you’ll always get a better deal when you buy a used car. The original owner takes the depreciation hit and you get a barely-used car for 2/3rd of the price (or less!). You can take this a step further, though, …

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How to Buy an Impressive Diamond Engagement Ring on a Shoestring Budget

By : Adam | 12 Feb 2015

Every year on February 14, star-crossed lovers from around the world take to bended knee to profess undying love and adoration while asking for their partner’s hand in marriage. The diamond engagement ring, now a staple of the traditional engagement ceremony, is often the third …

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Three Things You Didn’t Know About Personal Injury Laws

By : Adam | 11 Feb 2015

Navigating the legal landscape can be challenging for those who are not attorneys versed in car accident laws or personal injury lawsuits. If you’ve been injured in a car accident or a fall, you may not know your rights. Here are three things you may …

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