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Is Google a good financial advisor?

by TodayDigitNews@gmail.com
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Everyone has Google on their phones, computers, desktops and laptops. And within seconds the information will be flushed. However, there is a difference between “investigation” and “research”. Google is a treasure trove of information. But who decides whether the information is in your best interests?

Whether in academics or sports, teachers and coaches deserve all praise for every success of their students. Without the help of teachers and coaches, it would have been impossible for the students to achieve anything. Humans are the most intelligent species on earth, but intelligence alone is not enough to succeed. Therefore, each of us craves that spiritual support and encouragement to go beyond and achieve success. Coaches, mentors, and teachers have remained important in academics and sports since the advent of the Internet, but the same cannot be said for investments and personal finance.

Investing in the future means preparing for the toughest tests in sport and education. One wrong move and your future financial life is effectively in jeopardy.

Perhaps unawareness or simply procrastination of putting one’s future in jeopardy is part of the reason why advisors are not given the weight they deserve when making financial decisions. There is a possibility. But that’s why Google isn’t the safest choice for financial decisions.

The results are yes, but are they relevant?

That’s the big question. Simply put, Google feeders tend to use Google search engine optimization to include websites and information in the first two or three links. To queue information, we use keywords to help. As a result, when a Google user enters such a keyword into her Google search, her website in the feeder flashes first, even if the information is irrelevant.

The lesson here is that information provided by Google is unverified and not necessarily relevant, so acting on such information is like driving a car with one eye closed. that they are similar.

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Difference between search and survey

Google is just a platform for all information fed by feeders. Therefore, Google is not the owner of the information displayed there, but rather the owner of the feeder or his website, which may or may not be an investment advisor.

Similarly, Google has a myriad of feeders. They exist to provide information, not to help you make the right decisions. Search means finding information, but research means finding the right solution for your needs. Therefore, even though Google provides a great deal of information, it is up to you to decide whether that information is useful or worthy of your attention in making decisions.

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lack of liability

Investment advisors are people with knowledge, expertise and experience, most importantly, registered with the relevant governmental authorities and entrusted with the responsibility of managing an investor’s funds. As I’ve said before, Google provides all information without knowing its legitimacy or truthfulness.

Google will not be held responsible for any problems that arise as a result. Neither the Capital Markets Regulator, the Securities and Exchange Board of India (SEBI), the Reserve Bank of India (RBI), the Government or the Courts are liable. That is why recently, regulators and even stock exchanges have started warning against opting for investment schemes that are ubiquitous on the internet and mobile.

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Not necessarily the latest update

Google is neither a financial advisor nor a government spokesperson, and information available on Google may not always be current or updated. Therefore, investing based on outdated information can have fatal and destructive consequences. Imagine buying a car without knowing it was the best car available on the market or that the manufacturing company was going out of business. Lack of up-to-date knowledge can lead to this. Therefore, it is always wise to be aware of all options and the latest developments available for all such options.

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There are many choices, but the evaluation is zero

In the early days, investment options were very limited, with fixed deposits being the primary option for most investors. But today, with so many choices in mutual funds alone, it’s not just hard to choose, it’s even harder to evaluate. Each investor has their own risk appetite, aspirations and income criteria, and choosing an investment option without analyzing such factors is simply an act in the dark.

While investment options may be good for some, they may not be ideal at all for others. Therefore, blindly following something is nothing but gambling on your future. Google offers a lot of options, but unless you do your own research, you won’t find one that’s right for you.

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