Why I don't always agree with the experts.

There will be times in this blog that it may seem like I'm not in line with the experts in the field.  The reason is very simple.  Experts are paid by someone and because of that they are going to represent someone else's agenda even if you are paying them.

Consider this:

• It was experts that made all the subprime loans that resulted in the morgage bubble that broke.
• It was the experts who encouraged Americans to invest their money in the mutuals funds and now  hard working people I know have lost their retirement funds.
• It was the experts who encouraged customers to get multiple credit cards and are now garnishing their wages.
• Need I continue?

So who do we turn to?  There are basic financial principles that have stood the test of time and are most commonly known by those over 65.  They are the ones who have made it through the great depression and have rebuilt our society in a way that allowed all to prosper who were willing to apply these principles and work hard.

Thankfully, they have shared this information in many ways.  We just have to seek it out.  It's still there.  Like gold that has to be mined.  We need to watch, learn, and question.  They may not tell us the answers in the quick, attractive, catchy slogans we see in the commercials but they will tell us if we are willing to listen.

Think of your grandparents.  Some of the things that they might have said are:

• Work hard.
• Stay out of debt
• Close the door, you're letting the heat out.
• No, it costs too much.
• We can't waste this.
• Don't be in such a hurry.
• A stitch in time saves nine.
• Don't forget your offering for church.
• If you're cold, put on a sweater.
• Save something for a rainy day.
• Why pay someone if you can do it yourself?

 Should we seek out the knowledge of experts and financial professionals?  Of course, but, if what they are saying contratdicts the basic principles that our grandparents have taught us we need to get more information and think carefully before we jump in to a decision.  Remember, all professionals are there to make money.  Your money.