Are Financial Blogs a Good Alternative to Your Financial Advisor?

[WhiteStone Wealth Management Ser]

The time when personal articles and thoughts were published on blogs has long since passed. They are now formidable forces and many of them provide knowledgeable guidance and information on a variety of topics. But when it comes to financial problems, there are a few key distinctions between financial advisors and bloggers, leading to conflicting advice from the two separate authorities.

Investing versus saving

When faced with difficult financial circumstances, financial bloggers frequently begin their articles by sharing personal tales, such as how they managed to get out of debt. They typically enjoy saving money, and since more advanced financial planning calls for investments and insurance, they frequently don't offer much information on these topics. In essence, they are primarily concerned with saving money and paying off debt.

On the other side, financial counsellors adore making investments. They are aware that healthy financial planning must include investing. Financial experts prefer to invest that money and watch it grow rather than save it.

the debt problem

Most bloggers, as was already noted, got their start when they were having financial problems, and as a result, they despise debt. Some bloggers who specialise in finance not only paid off their bills quickly; they also managed to pay off their mortgages quickly. Generally speaking, personal finance writers urge readers to avoid debt at all costs.

Financial counsellors, on the other hand, utilise debt as leverage to accomplish many objectives concurrently. In most cases, they do offer bonds and auto financing. They don't mind their debt because they prefer the simplicity of monthly payments to one large payment and because they can deduct their loans from their taxes.

What should I insure?

Financial bloggers frequently lack insurance and generally advise against purchasing any kind of insurance since they view it as just another monthly expense. Bloggers frequently lack formal financial education, which makes it possible that they undervalue the significance of insurance. This is another explanation for why they are not generally pro insurance.

Financial advisers would strongly advise against not purchasing any insurance, despite the fact that their stance is understandable, as they are aware that insurance is an essential part of financially insuring yourself and your loved ones. Most financial counsellors would not advise against it because they have witnessed the tragic results of persons lacking disability or life insurance.

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