Updated: March 8, 2015
I believe that beauty is in the eye of the beholder.
And the same principle goes for personal finance and investments.
What I mean is… if you ask an insurance agent if you need life insurance, then you’ll probably get “Yes, you need it!” for a reply.
Alternatively, if you ask a stock broker where’s the best place to put your money, then you’ll surely hear “The stock market, of course!” as the answer.
Each person has their own bias, depending on their education and experience – and there’s absolutely nothing wrong with that.
However, if you’re an individual who is still “learning the ropes” of wealth building, then you should remember that every financial advice that comes from others will always be anchored to that person’s principles, business and advocacy.
So my tip, as someone who spent years of self-study, always make sure that you’re getting educated on every aspect of personal finance and investments – not only on its many subjects, but also with respect to the different points of view available.
What do I mean by this?
Take for example Ms. Salve Duplito – she is a financial journalist, and as such, her views on personal finance and investments are certainly built upon her experience as a financial consultant and business columnist.
Check out: ANC: On The Money, a video collection of “Salve Says”
Meanwhile, if you get to meet Mr. Rex Mendoza, current CEO and President of Philam Life, then you’ll see that his points of view on personal finance and investing are slightly different as he’s coming from the world of insurance and mutual funds.
Check out: Mr. Rex Mendoza, How An Insurance Agent became CEO of Philam Life
How about Mr. Antonio Moncupa Jr., current CEO and President of EastWest Banking Corporation, and now a “lifestyle” columnist on Inquirer? Yes, his points of view are different as well, because he’s from the world of banking.
Check out: Demystifying Banking by Mr. Antonio Moncupa Jr.
So what happens now?
If you’re currently educating yourself on financial matters, then never limit yourself to just one point of view, and learn from as many different sources as you can.
Too often, I’ve met people who have been so “blindly fanatic” about one person, or one book that they’ve read – that they already stopped seeking new ideas and dismissed other opinion on personal finance and investments.
From my experience, it always pays to be open-minded about different points of view, specially about wealth and money management.
Not only does this enrich your wisdom and widen your perspective, but it also gives you more than enough information that you can process and use – to craft your own personal finance and investing strategies, which will work best for you.