I was working on an idea for an article but it took longer than expected. So instead I’m going to post something simpler in the mean time.
Imagine that our health is our most important asset. We do medical checkups once a year and when we are sick, we go and see a doctor.
Now imagine wealth is another one of our important asset. How do we do our checkups and when we have a financial issue, who do we go see?
We used to have witch doctors and traditional herbs to treat our health. The effectiveness is suspect and may have more to do with emotional beliefs than scientific method. Now we have medicines that is scientifically tested and proven.
Similarly, we have friends and families giving us financial advice. The effectiveness is based on anecdotal experience and hardly scientific. So question is: is there any financial medicine that is scientifically tested and proven? How would it look like and how would it work?
A few questions to ponder and discuss.
(All images from internet and not owned by me)