Banner

Orange on Green: Taking it with a Grain of Salt

Orange on Green: Taking it with a Grain of Salt
With today's new media, more information is available at your finger tips than ever before. So this week, our financial gurus help prevent that information from turning into disaster.


In the 21st century, forms of communication that were previously unimaginable have become part of our everyday lives. Can you remember a time before cell phones with Internet access, instant messaging and blogs were not part of your life?

 

As beneficial as these forms of communication can be, there is a potential downside to them. Blogging, for example, can be a terrific forum to introduce new ideas about a business, share thoughts with people who have a common interest, or simply introduce your opinion to the world. The key component with many blogs we've seen is that they are filled with opinion.

 

With some subjects, like which new restaurant to patron or your impressions of the various museums around town, opinions are fine. However, with certain subjects, like financial or money matters, opinions can be harmful, if not devastating to your financial world. For example, a blogger may have an opinion that "you should put all of your investment money into a Roth IRA" or "you should only buy term life insurance because all of the other types of insurance are a waste of money."

 

These are blanket opinions at best. Writing these types of opinions makes no sense to us. You should check out your options, whether you are facing an investment issue, insurance situation or a tax problem. You probably wouldn't trust a doctor who claimed that "you should only take penicillin" or "never take antibiotics." You'd check out your options, compare your choices and then decide if penicillin or antibiotics are best for you. It is in your best interest to apply this same approach when gathering financial information.

 

While the Internet, instant messaging and blogs are incredible new means of communication and enable us to stay connected like you could never have imagined before, with that information comes a responsibility — to yourself. Make sure that what you are gathering is relevant to you and your situation. What may be applicable to one person could be just the opposite for another. In the financial world, we have found that everyone's financial situation is unique, and the education provided must be individualized.

 

Even with all of the information available to you 24 hours a day, information alone may not be enough. You need to have the wisdom to apply that knowledge. You don't have to do it yourself. You still may need the help of seasoned professionals to make sense of your new information. So whether the issue is financial, medical or something else, blogs can provide useful information and insight, but be sure to apply some analysis and thought to the information before taking any action.

Tom And Brad Cunningham -

Tom and Brad Cunningham are Cincy Chic's financial columnists, and they are the co-founders of Orangefinancial. If you want to share your comments or inquire for more information, e-mail them at This e-mail address is being protected from spambots. You need JavaScript enabled to view it and This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Read More >>


More articles by this author

Orange on Green: Budgeting for a New Pet
Orange on Green: Budgeting for a New Pet Pets add so...
Read More >>
Orange on Green: Nine Ways to Save on Your Big Day
Orange on Green: Nine Ways to Save on Your Big...
Read More >>
 

subscribegraphic

eventsgraphic


Banner
Banner
Banner
Banner
Banner
Banner
Banner
Banner