Comments on: When to Offer Financial Advice/Opinions

By: Awesome Finance Carnivals This Week | I've Paid For This Twice Already...

Awesome Finance Carnivals This Week | I've Paid For This Twice Already... — Fri, 29 Feb 2008 17:23:47 +0000

[...] Micah: When To Offer Financial Advice? My answer… never. You find that funny do you, since I spend so much time blogging about [...]

By: Carnival of Personal Finance #141 - The College Years Edition — Broke Grad Student

Mon, 25 Feb 2008 12:06:28 +0000

[...] What do you do when friends and family start asking you for financial advice? Mrs. Micah from Mrs. Micah: Finance for a Freelance Life tackles the issue of determining When to Offer Financial Advice. [...]

By: Weekend Readings Over My Cup of Tea (Ask Mr Credit Card’s Blog)

Weekend Readings Over My Cup of Tea (Ask Mr Credit Card’s Blog) — Sun, 24 Feb 2008 19:22:23 +0000

[...] Micah wonders when to offer financial advice. Well, all I would say is rather than advice, share your experience and only to those really [...]

By: Sunday Roundup

Sunday Roundup — Sun, 24 Feb 2008 18:36:17 +0000

[...] needs help to determine how he should increase his foreign equity (maybe buy more Canadian?). Mrs. Micah had an interesting post about talking/advising relatives on their investments. The Wisdom Journal [...]

By: RacerX

RacerX — Sat, 23 Feb 2008 02:34:18 +0000

The best advice that I give is to get a lot of opinions and then form your own. It is YOUR retirement, you must be an active driver and not a passive paasenger!

By: RC@ThinkYourWaytoWealth

RC@ThinkYourWaytoWealth — Sat, 23 Feb 2008 02:14:20 +0000

Thought provoking post. Some of my friends know I am into personal finance and investing, but when they ask me questions sometimes I find myself “holding back” for fear of getting them into something they might not really be comfortable with, or more commonly, that they might not be paying enough attention to what I am explaining.(And I am not talking about very sophisticated things either). Some people do not even know which funds they have their 401k money in. So I usually let the conversation take its natural course, but I normally do not talk @ individual stocks.

By: CT Mom

CT Mom — Fri, 22 Feb 2008 20:23:28 +0000

I know what you mean. I feel comfortable talking about budgeting, savings, good consumer habits, but not about mutual funds and investments as I’m just learning myself. I’ve offered my help to my SIL who is starting over again after a bad marriage, but only on the subjects above. She’s not ready to go down the investment route yet; when she is, I’ll defer to the experts.

By: Becky@FamilyandFinances

Becky@FamilyandFinances — Fri, 22 Feb 2008 20:16:53 +0000

I work in personal finance for a living, so I have no problems looking at my friends’ and families’ portfolios. I would definitely NOT give a stranger (through blogging) specific advice like that, though. Too much risk!

By: Julie

Julie — Fri, 22 Feb 2008 19:56:25 +0000

My friends don’t ask me questions about finance because of my blog, they just know that I know a lot about finance and economics because it’s what I’m interested in. I definitely like to give my opinion, but I would never force someone to take my advice. I think that if they ask for my advice, it’s up to them to decide how much they want to trust me.

By: Pinyo

Pinyo — Fri, 22 Feb 2008 19:17:58 +0000

Thank you for the referral. My friends and family occasionally ask me to help. I don’t give individual stocks advice, but I am comfortable talking about mutual funds versus ETF, taxable versus non-taxable, 401k vs IRA, why low expense is good, etc.