Can you tell the difference between good intentions and bad advice? Sometimes, even people who are truly trying to help can give you bad information and cause you to question your financial decisions.

Sometimes even the best intentions can result in bad advice. Where are you getting your financial information and advice from? How do you know if you are going in the right direction with your financial plan?

For instance, family might want to help you succeed, but sometimes they don’t know enough to help you. Working with a financial advisor will provide someone with professional experience and able to give you unbiased advice on what to do for your financial situation.

What about friends? Friends maybe are quick to brag about the wins but aren’t as willing to share about their losses. It’s best to get sound advice from a plan, instead of reacting to emotional responses from friends and family.

CPAs are experts in their field when it comes to tax planning. But should you go to them when it comes to investment advice? What if they contradict your financial planner’s advice? How can you get everyone on the same page when it comes to your financial plan?

Listen to the full episode or click on the timestamps below to determine whether you are getting good advice or merely good (but misguided) intentions.

0:47 – The best of intentions may include some bad financial advice.

1:11 – Family may lead you astray.

3:54 – Friends may brag about the wins but not admit to the losses.

5:12 – Should you take investment advice from your CPA?