If you've been reading ESI Money for more than 15 seconds you know that I am not a big fan of financial advisors. This stems from a couple issues. First, I'm a big believer in DIY finances. The concepts that will make you rich are not that hard to learn, so anyone can do it. And there really aren't that many things you need to master to become wealthy, so it doesn't … [Read more...]

I'm starting to create a collection of stories about financial journalists who are not money experts. It's not difficult to find examples. Oh, they are experts alright, but not at managing money. They are experts at writing, radio broadcasting, or TV broadcasting -- whatever their specific, journalistic specialty. So far I've written Mainstream Financial Experts Are … [Read more...]

As you know, I'm a big fan of pointing out people who claim to be financial experts but aren't really. But doing that several times got me to thinking: Just what is an expert? What defines one? How would I know an expert when I saw one? So I thought I'd do a little research and put down some thoughts. Then you can add your two cents and we'll chat about it. With all the … [Read more...]

The more I write about various so-called financial "experts" (who are not really experts) the more it seems I run into additional examples of their non-expertise. In the latest example, I was listening to the Masters of Money podcast (I enjoy and recommend it!) interview with Joe Saul-Sehy from the Stacking Benjamins podcast Joe spilled the beans on both financial advisors … [Read more...]

In my post Not Experts: Financial Advisors. I had a reader ask (in part) the following: So let me ask you, if you ruled the world, how would you change the system? My answer (in part) was as follows: If I ruled the world the world would be in a lot of trouble! Theoretically, financial advisors would: 1. Not only know what they were talking about intellectually but also be … [Read more...]

Do you feel another ESI Money rant coming on? Me too. :) I've noted previously how many "financial experts" (or at least people who hold themselves out to know something about money) in the media really know very little about it. If you want to see my thoughts on the subject, see Why Another Financial Website? and Buying in Bulk is Always Cheaper. This has been my … [Read more...]

I started my Not Experts category so I would have a common location for my ramblings about the mainstream financial media and how they know little about managing money. But it appears that the category may have broader applications than I first anticipated. As exhibit #1 of that, let me take you to a recent conversation I had. A Long Path to Financial Advisor Several … [Read more...]