Red flag advice
Not all advice is good, unfortunately.
How do you recognise poor advice and what should raise the red flag?
Here are Living Money’s views…
There is no such thing as a high return, low risk, highly liquid and tax free investment, so advice to buy such an investment more than raises a red flag – it makes me run a mile.
There is good debt and bad debt. Borrowing to fund a course that leads to growth and personal development is good debt. Borrowing long term to buy a home is good debt. Borrowing for day to day expenditure, spontaneous expenditure, a holiday or to fund an investment is bad debt and advice to borrow in these circumstances would raise a red flag fore me.
What do you think?
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