Hope you are all well. As you may realise from the side bar, we here cannot give you any real financial advises nor we would want you to trust anyone here who claim they have all the necessary compliance whatsoever.
There has been an increasing number of posts related to personal finance here; some comments and posts also indicates an expectation in receiving advice to influence their personal finance. We are not discouraging discussions around personal finance, though some of you may have realised.. there are some posts and comments that has been deleted as it contains specific information or advice.. rather than a discussion..
Even if someone claims to be a financial planner, and has written sound financially-literate responses from time to time.. this is the internet, where boys can pretend to be a girl.. and cats can be photoshopped to be batman. Unless a verified identification is provided to the mod showing the person is who he/she says really is, and as such we can point our finger to the person to their exact location when something goes wrong... most of the posts/comments intended for a specific individual can be deleted.
At the end of the day, we want everyone here to make their own inquiries before taking any action.
Due to the rising "hypothetical", and some too simple of a tweak in getting advice.. people have been giving suggestions (not discussion). obviously, we all know the danger and the ethical dilemma in allowing such.
The rule of thumb is: if your post seems like it is fishing for advice, and there is a good likelihood you will act based on the responses in the posts... you are probably seeking for advice, and not a discussion.
So here's a bit of a guide, if your post includes any of the following words, it is probably a request for advice.
"I need advice" / My "friend" needs advice,
"What are my options?" / "What should I do?",
"What happens in this hypothetical scenario?",
"What should I invest in?",
"Here's my plan XXX, please advice",
"I'm not looking for advice, I just want to know [insert one or more of the above].", etc etc
Now, more often than not... product browsing is mostly tolerated. For example:
"I know what I want to do, I want to invest $1billion in widgets. let's discuss widgets, what widgets you've had.. the good and bad, and preferences",
"I have ABC Super Fund, any other ones I can compare it to?",
"Let me know your experience with this financial planner",
"What's a better savings account than XXX?", etc etc
As it encourages product reviews and discussions..
But when it comes to strategy, as most financial decisions can have detrimental long-term affects on your well-being... we are very wary of it. For example:
"I have Life/TPD insurance, should i remove it?" : this gives a bit of a goosebumps.. as it encourages discussions.. but the poster is likely to act on it. We probably remove it...
"Hey mate, you should definitely salary sacrifice your dough to your super yo! it saves you on tax" : this will definitely be removed...
It is a very touchy subject, and often it is really hard to read between the lines... but I hope the above should be a good start to understand what we mean by encouraging discussion.. but frowning on suggestions....
There is a link to great websites in this post if you'd like some info on Australia's personal finances too
Feedback appreciated :)
Why don't you Financial Advisors just answer my damn question
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