Beware of one-size-fits-all financial advice

Are you relying on the advice of the television financial personalities and pundits to manage your financial future?  Or maybe it’s a friend, relative, or co-worker.  If so you are not alone.  In this time of instant news and information overload many of us have turned to the internet or CNBC for financial salvation.  We are hoping to find that guru who will provide us with the information and strategies that will ensure our financial success.

Newsflash:  Jim Cramer and Suze Orman are not your financial advisers.

While financial personalities, the financial press, and even some people we know may provide some useful tidbits of information it is very dangerous to assume that it applies to your situation.

A good financial plan is unique to you. What works for you may be a disaster for the family next door.  It takes a bit of work to put together your plan but when it’s in place you will have a road map for success that that cannot be derailed by the effects of one-size-fits-all advice.

Remember, free advice is usually worth exactly what you pay for it!