Be Wary of General Advice … Even from Buffett

Buffett has famously stated that he’s told his family to just use index funds once he passes. Never mind the implied arrogance of the comment, the more important takeaway is there is no such thing as one size fits all advice. We often walk through with people’s advice and “must-do’s” that friends and family have shared with them that have no applicability to their goals and/or situation. Is your net worth the same, your expenses, etc? Before you determine your path, you need to determine the principles that will shape it — that’s where a good advisor can be of great value.