I enjoy the Gurus. I enjoy seeing popular media personalities talk about life, living the dream, and hearing their personal views on finance. I’ve read all of their books, listened to their shows, taught some of their classes, and enjoyed almost all of it. More often than not, the general advice they give is pretty good. Or at least, much better than the population of their followers. Most people would benefit from following the baby steps, getting out of debt, or riding a bike. But are all the gurus right for you?
The great part is everyone has their guru. In the financial community, it’s Buffett, Dave, Suze, C. Howard or even Mr. Money Mustache. They are all in the big game of trying to get financial information to us in entertaining and occasionally educational ways. They build audiences, platforms, and have followers that most small time authors or bloggers only dream about. And they are pretty good. But, are they good for you? Is it even possible for one person to give accurate advice for everyone in the world?
The trouble with gurus is that they have to ascribe a one size fits all approach. To really build a platform, one needs consistency and quotability. It is more important to have a uniform message than to try and navigate all the unique situations that arise in real life. Continue reading When The Financial Gurus Are Wrong (For You)