the amount of information asymmetry in finance is massive & it breaks my heart to hear about people who trusted a person or institution losing money to frauds. i watched my parents get taken advantage of by a sketchy financial advisor & it was an incredibly formative experience.
maybe this is oversharing but it completely & permanently altered my worldview wrt understanding the nuances of finance and i don’t have some grand plan of how to educate people about being responsible w their money & being careful about who they listen to or trust but its hard
for me to watch this all go down & not say anything in support of better disclosures & overall better financial regulation. its easy to be like “well its just crypto they prob should’ve known what they were signing up for” but the general point of there being a massive knowledge
gap between the person saying “trust me w your money” and the people who are like “well idk anything about finance & they seem legit” - continues to be prevalent in all corners of finance and i just genuinely wish there was some way i could help.
one of the things abt the situations w my parents was that they were so embarrassed that it made them scared to ask for help. w the internet it’s easier than ever to find information but that doesn’t mean it’s easy to parse some of the jargon or understand how to manage your own
money. i’m not sure if there’s any resources about how to evaluate financial advisors but maybe at some point i’ll make a notion or a google doc w some helpful resources & maybe ppl could help share the ones that they’ve found helpful & we could curate at least a starting point
for people to educate themselves on navigating personal finance, investing & relationships w the “professionals” who want to advise you & manage your money. for so many people finance is this black box that only “pros” understand and if i can help even a bit ill do whatever i can
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