Pathways we take to a better life have some basic tenets that everyone can agree upon: education, a well-paying job, and preparing for the future.
Sometimes we can allow the external signs of success to lull us to sleep about what more we can do to ensure a better foundation for the future.
For proactive folks, there is no shortage of options. From franchises, to real estate investments, to network marketing, to the more traditional financial services industry, lots of providers want your business.
Minding your Business
Are we overstepping our bounds when we talk to friends and family about choices they are making?
As much as we may be concerned about the financial circumstances of our loved ones, telling them what to do outright is not such a simple matter. For starters, people may be suspicious of ulterior motives.
For another, regardless of our own educational or work experience, only qualified, impartial, and credentialed professionals should take the risk of advising them. Taking that upon yourself can bring undesirable legal consequences.
Pathways and Blockers
The person seeking advice must perform their own due diligence about the character and competence of that advisor. How many times have we heard of Ponzi schemes that originated in circles as intimate as churches?
Some fears are not without reason. In recent years, we have seen ample evidence of malfeasance. Families living in marginalized neighborhoods have fallen victims to bad lending practices; people of means trusted conmen whose polished appearance belied their true intentions.
The landscape may appear scary. Nonetheless, it is best to arm ourselves with information.
Where to begin? Different people may need different types of financial products, within the context of their goals, risk tolerance, and other conditions.
Do your homework, and research their background, to make sure that they take your financial well-being seriously.
You may not have all the answers yourself, but you can encourage others to do the right thing, even as you are also climbing towards your own financial milestones.