Do not Trust Your Financial Gurus
We all want to be rich no doubt, in fact, we do so much to listen to financial gurus as well as watch videos from financial influencers but in this post, I want to share a few things that these people say that you might need to carefully look at because why they say some very truthful guides, there are a lot of things that they say that you should not follow because they are far from the truth.
The first one that you might have heard is "Numbers don't lie, but I can make them say whatever I want." This is true because most of these financial gurus and influencers know how to make up numbers and when they tell you that they make certain returns from a business or investment, it is important to check out these figures because hey can make them whatever they want.
You should put it at the back of your mind when you are listening to financial influencers and gurus that they want you to see that they are successful and in doing so, they can make their numbers look real when they aren't real. For instance, a person can tell you that they became a millionaire at the age of 20 and then you begin to worry yourself that you are yet to become one. Meanwhile what you should try to understand is what type of millionaire are they? Are they income millionaires, or Net worth millionaire, or are they liquid millionaires. It is important to understand what these financial gurus are saying and not just accept blindly.
Have you heard financial advisers say they are just like you? This is false because in reality, they are not like you. These people are outlier and they know something that you might possibly not know, and they will not share them with you as well. You see, success is achieved as a multiplication of skills, hard work, Duration spent during, divided by luck. While everyone can be hardworking, not everyone has the skill and these financial gurus make it look like we are all equal, and that you can get what they got without much work like they did. If you are going to learn any financial advise from someone, it shouldn't be from someone who got it easily.
Most of these financial gurus are actually not investing, especially the financial influencers. They do not invest; they are either paid to promote a particular company because of their social presence. This doesn't mean that they are lying when it comes to finance and financial success because they have done their home work but they most times do not have the practical knowledge. They enjoy talking about how much they make but would not want to talk about their loss. They want to speculate instead of invest and so you might listen to what they say but do not believe that they are always investing.
While financial gurus and influencers offer valuable insights, it's crucial to approach their advice with a critical mindset. Recognize that numbers can be manipulated, success is not always easily replicable, and some influencers may not be as invested as they claim. The key lies in distinguishing between inflated claims and genuine wisdom. Seek advice from those who acknowledge the challenges, emphasize skill development, and provide a balanced perspective on both success and setbacks. Ultimately, informed decision-making in finance requires a discerning approach, allowing you to glean valuable knowledge while avoiding pitfalls.
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