Amazing how people come to me purportedly for advice. Great.
Once upon a time when I was much younger had a head full of black hair and foolish ideas, I used to feel thrilled. Would spend hours on end and come up with what I thought was a great solution. People would thank me and go away. I had no clue whether they used it or just told themselves ‘what a stupid idea’. No clue. Really no clue.
Then came a time when I used to feel bad that they did not use my advice. Financially it did not matter that they did not heed my advice. Anyway I was not billing them.
Then came a stage when I decided whom I will help and whom I will not. So now there is a very small set of kids for whom I will go out of the way, sit, teach, learn, and hand hold them through a problem. Obviously these are kids I love and I help them through career, personal, health, relationship problems, and I feel happy that I am there for them to ask. No ego / expectation that they will listen to me. They do, mostly they do. If they do not, there is a solid reason why they do not. But yes no money, no expectation, no hurt.
Now come to strangers who come to me for ‘help’. I genuinely try to help people when they come with a sensible question but see how some of the conversations go:
Me: You have too many mutual funds in your portfolio.
Reader: Maybe, but is there a reason why I should reduce them?
Me: No, you need not. But hey, you need not ask me too, right?
Or if I tell them “Sell x, y, a, b, d, and m schemes”
R: Why? x is doing well and y is just started doing well. ‘a’ i have invested for the long run and it is now only 5 years…I am sure going forward it will do well, do you not think so? b, d and m are small amounts to see how the fund is doing..see i have only 25,000 in each fund.
It is really exhausting. And doing it for free is foolish too, do you not think so too? For a fee at least some effort is sensible.
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