I was counseled about finances three times in my life and two times I lost money in the low thousands because they sold me ok things way too expensive.
One time the financial counseling was sound, but the house was crap and I lost thousands for that.
Luckily I was always budgeting, so these things never ruined me.
The best advice I have, don’t trust your financial advisors, particularly those who emphasize the importance of trust.
Take the time to understand what you are investing in and the cost structure. This can take months and don’t let yourself get pressured. Do not trust the advisor! Be skeptical and ask all the questions. If they get impatient they have nothing good to sell and rely on the customers inexperience. Very similar things are sold for vastly different prices, and you need to understand that. Particularly for security the cost can easily ruin an otherwise good product.
I was counseled about finances three times in my life and two times I lost money in the low thousands because they sold me ok things way too expensive.
One time the financial counseling was sound, but the house was crap and I lost thousands for that.
Luckily I was always budgeting, so these things never ruined me.
The best advice I have, don’t trust your financial advisors, particularly those who emphasize the importance of trust.
Take the time to understand what you are investing in and the cost structure. This can take months and don’t let yourself get pressured. Do not trust the advisor! Be skeptical and ask all the questions. If they get impatient they have nothing good to sell and rely on the customers inexperience. Very similar things are sold for vastly different prices, and you need to understand that. Particularly for security the cost can easily ruin an otherwise good product.