Unintentionally Bad Advice

  • If a professional advisor is too risk-averse, due to being liable for potential loss, the advisee suffers from a lack of good advice.
  • If the advisor is too close to the advisee, things get personal and both parties try to compromise on the risky decisions so that the social bond is not strained or broken, leading to long-term opportunity costs.

These psychological factors contribute to conflicted and substandard advice from the professional advisors.

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Bad Advice From Professional Advisors

There are advisors for everything: fashion, investment, career, relationship, nutrition and spirituality, all with best intentions. And professional advisors commit an unintended mistake of being too cautious with their clients choices, and are significantly more risk-averse due to many factors.

To off-set accountability, or because of not being in the best interests of the client (due to factors such as envy), many advisors give more weightage to the negative aspects, rather than focusing on the potential benefits.

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Money by itself is a tool that can provide us with food, shelter, comfort and clothing. The connection between our happiness and our own wealth is overshadowed by the connection between our happiness and other people's subjective socioeconomic status.

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Avoid tension and build rapport

This underscores the importance of starting on the right foot.  If you upset the person you’re trying to help, they’ll wall themselves off. 

It's important to use empathy, but don’t get too friendly. Take a careful balance between making someone like you and asserting your authority.

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It's a set of proteins that form the primary structural component of connective tissues like skin and cartilage. Of the 28 different types of collagen, 90% is of 'Type 1', found in the skin, tendons, organs and parts of the bone. The other types of are found in cartilage, bone marrow, basement membranes, hair and cell surfaces.

Our body makes up collagen by breaking down dietary protein into amino acids.

A balanced diet, rich in foods like chicken, beef, eggs, dairy, legumes, nuts and whole grains along with fresh fruits and vegetables is essential to provide the body with the specific building blocks to produce collagen.

What is collagen?

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