Google Vs Financial Planner – Dalal Street Investment Journ…

There are a number of search engines on the Internet, including Bing, Yahoo, and AOL. However, it is only Google, which made its way to the top of the chart. Google has such a monopoly in this domain that now there is a term for searching something on the net, that is, GOOGLE. Now people do not search on any search engine, for that matter, they just GOOGLE it.

Be it history or philosophy, Google is the biggest source of information for us at present and we all need to admit this. Even you would get a nifty piece of articles related to personal finance via google. This is the reason many people are googling personal finance and financial planning solutions to DIY – do it all by themselves. Their basic understanding for doing so is that they think they are unnecessarily paying to a financial planner for the things that they can do themselves. However, is it a good enough way to manage your finances perfectly? The answer to the same is ‘no’. Why? This is because Google just provides information and not advice and there is a whole lot of difference between information and advice. We can say that information is something that is ‘good to know’ and advice is something that is ‘good to do’. That is why you should always seek advice and not information. Information is generic but the advice is specific. This means that when you seek advice the financial planner would advise you based on your financial situation and circumstances. On the other hand, information is not specific to your situations.

While managing personal finances, psychology plays a major role. We being human beings carry a lot of emotional biases with us. We have emotions that need to be rationalized to get optimum results. When you google it and DIY, the major thing that you need to do is to fight with your emotions without the help of an expert. However, if you hire a financial planner, they can help you to have control over your emotions.

As said earlier, Google is a good source of information, no doubt about it. However, it can never replace the financial planner. So, use google as your information source and hire a financial planner, who would help you to manage your finances. He, not only would guide you towards your financial goals, but also towards financial freedom.

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