131-Filter Your Financial Advice Through the Lens of Scale

I read a lot of financial advice from many different perspectices. I also frequently am asked about financial advice. "Is this a good idea?" "What do you think about this investment idea?" Over the years, I have noticed that I have developed a filter that many people don't have: I view all financial advice through a filtering lens of scale. When I hear advice, I don't immediately accept is a blanket statement; rather, I think, "what type of household profile would this be appropriate for?" When I talk to someone who's asking for financial advice, I try to ascertain where they are in their financial journey so I can give them the most appropriate advice. Having this filter helps me to give advice that matters. It also helps me to coach myself more effectively by identifying where I am in my own journey so that I can focus on the things that are most appropriate for me. In today's show I share with you many examples, including: Buying large commercial real estate can be a great investment. But is it right for you? Should you be buying low-dollar mobile homes instead? Investing in low-dollar real estate can be great. But is it right for you? Should you be buying larger commercial projects instead? Investing in stocks of publicly traded companies can be a great plan. But is it right for you? Should you be investing in the tools of your trade or business so that you can be more effective at work? Investing in the tools of your trade or business can be a great idea. But is it right for you? Has it reached the point of diminishing returns and now you'd be better served by investing in the stocks of publicly traded companies to get you closer to your financial goals? Etc. Enjoy the show! Joshua