Free Investing Advice: Why and How Often

As a seasoned professional with over three decades of experience in financial services, I often get asked if and why I provide free investing advice. My approach is rooted in a belief that investing is both an art and a science, and that the pressure to be right and do well can be immense. On platforms like Quora, I am able to offer my wisdom on a voluntary basis, without the confines of financial gain. Here, I provide advice two or three times a week, purely to help others navigate the often murky and misleading waters of financial advice.

Why Do I Provide Free Advice?

My motivation stems from a desire to inform people about the realities of investing and to help them avoid potential pitfalls. I do not push a specific investment or suggest specific stocks, but rather emphasize the importance of common sense and due diligence. For instance, when someone asks about investing a sum as small as $1000, I encourage them to address essential questions such as have you paid down debt?, have you paid for your (or your kids') education?, and can you afford to lose this money? If these questions are satisfactorily answered, then they might consider investing, but only after careful consideration.

My Crystal Ball for Stock Picking Is Not Reliable

It's important to note that my advice is based on what I have learned through experience and reading from renowned investors. My stock-picking abilities are no better than a crystal ball - they are not reliable. Instead, I encourage investors to rely on broad index funds, which offer diversification and a steady long-term growth.

Addressing Skepticism and Providing Balanced Advice

I often provide advice by pointing out possible scenarios and circumstances, even if they are not universally agreed upon by everyone. This approach is not about steering people to a particular investment or gaining self-promotion. Instead, I quote or reference others on both sides of investment decisions. This helps to illustrate the complexity of the market and the importance of considering multiple perspectives. I believe that genuine advice, even if it comes with its own biases, can be more valuable than biased advice motivated by profit.

Beyond Selfish Motivations

The cornerstone of my advice is to inspire others to detach from selfish motivations and consider the well-being of others. Honesty, even if it is in the form of truth and ignorance, still holds value. The quest for pure, unselfish advice is essential in a world where financial advice often comes with conflicting interests. Freedom of thought is the greatest of all bargains and is far more valuable than monetary gains.

Conclusion

While I provide this advice voluntarily, the true value lies in the freedom to think independently. In a world that often seems driven by profit, a genuine willingness to help others and inspire them to do the same is invaluable. If this resonates with you, consider this a call to action - to share your knowledge humbly and without expectation of reward, for the betterment of others.