Most Indians believe that financial advice should either be free or in most cases, is not needed at all!
In fact, it’s quite common to come across people who will tell you (if asked) that:
- Why should I take financial advice from anyone? I already know it and isn’t that difficult.
- My father (or other relatives) does this and that. They can’t be wrong.
- And even if I do have to take advice from someone else, why should I pay for it? It is available freely.
Sometime back, I wrote an article for MoneyControl on this topic. If you wish to understand why Free Advice can be dangerous (and so can be not taking financial advice), then please do read the article by clicking the link below:
Hope you find the article useful.
You may also like to read why taking Financial Advice from Banks is harmful.