Never listen to a financial advisor you can’t trust
A competent financial advisor can help you set your budget and finances straight and assist you in taking some of the most important financial decisions in your life. This is why it is also extremely important to choose and work with someone you know you can fully rely on and trust with your financial future. “Never invest your money with someone you don’t trust, even if you can’t pinpoint the source of the mistrust,” said Julie Rains of personal finance blog Investing to Thrive.
The best way to find a trustworthy financial specialist is to get recommendations from relatives and friends you trust. You can also find out more about their designations and experience at the Securities and Exchange Commission website or on the Financial Industry Regulatory Authority site.
Speaking of trust, read also 13 Lies Professionals Are Always Telling Clients.
Never co-sign a loan without the financial means
Michelle Schroeder-Gardner of personal finance blog Making Sense of Cents recommended to never co-sign on a loan for someone unless you have the financial means to pay it off. “The fact is that you never know if the person will be able to pay every single payment, so it’s best to prepare yourself,” she advised.
