As evidence I read pretty much everything, I will admit to reading "Date Lab" just about every Sunday in The Washington Post magazine. It brings together people judged to be compatible, pays to send them on a date which they then rate, and ends up following up to see if they got back in touch.
Anyways...this week the guy featured in Date Lab is a 22-year-old financial consultant; and I got to thinking that this guy was not even born when the 1987 crash occurred, was 14 during the dot.com bust, and still in college when the 2008 meltdown occurred.
My question is pretty simple: would you take financial advice from a 22-year-old?
Nope. I know how much experience and common sense I lacked at 22. Most financial advisors are just salesmen anyway, who have no knowledge or experience with selecting investments beyond what their company tells them to sell.
ReplyDeleteC'mon Grouch...they have passed a couple of tests and do know the difference, presumably, between a stock and a bond.
ReplyDeleteActually I'm showing my prejudice. I believe the active trading schools go after the younger crowd and have actually run into a couple of guys just out of college pursuing a "career" as professional traders.
I wonder if any younger people out there would prefer a younger advisor.
In fact, many companies have younger advisors for their 401(k) plans as I'm sure you've seen.