Check out my latest Expert Blogger Column at Findthebest; Watch Out for Volatile Money Market Funds
In the car ride this morning, a friend and I were discussing publishing. As an academic and widely published author, she stated, “The thing I hate about the internet is that anyone can write anything, and there’s no way to validate it’s accuracy.” She continued, “I write an article, and it goes through a peer review board and is frequently rejected or sent back for revisions.” In contrast, anyone can set up a website and write whatever she wants with no oversight.
I’ve had graduate students in my MBA Class submit research papers with citations from Wikipedia. For those out there saying, “What’s wrong with Wikipedia?” The answer is that anyone can add their 2 cents worth to the online encyclopedia and there’s no way of checking the accuracy of the information!
My Inbox is Filled With Finance Junk Mail
Personally, I’m sick of the crap that’s filling my inbox telling me how to get wealthy. If the sender has not achieved financial independence, why should I listen to him or her? Some of the ideas are just filling the blogosphere with useless information. There are so many people out there selling you the route to success, money, and happiness…. so who do you believe?
I have a nagging doubt that everything written on the internet is not true :).
In print publications, there are fact checkers for stories. While reading a story, you have confidence that the story in the paper is based on truth.
Today, there are nameless and faceless internet website owners touting the path to riches and success.
Why Should You Believe My Personal Finance Information?
Who or what do you believe? This topic has bothered me quite a bit. Personally, I would not disclose my personal financial situation online, so how do you know I’m not feeding you a bunch of crap? I could be some idiot with a laptop spewing garbage.
The articles that profess how easy it is to set up a blog or website and make tons of money are just plain wrong. That is Fiction.
As a blog owner and editor in chief for over two and a half years, I look at everything I read with skepticism. Very few sites show screenshots of their paychecks like Sunil does at Extra Money Blog. There are very few quick and easy paths to wealth. Some people get lucky once in awhile, but that’s rare.
The path to success is littered with folks who got tired of trying and gave up too soon. There are always a few Mark Zuckerberg’s out there who drift to the limelight. For the rest of us, life is a grind. Money, success, fame or whatever you are seeking comes only through years of drudgery and hard work.
You should believe what I write, only if it rings true to you. Ask yourself as you traipse across the internet if what you are reading makes logical sense. Is the blog owner selling you a program for hundreds of dollars about a topic which sells in a book for $15.00? I can’t wrap my mind around the idea of buying an internet course for hundreds or thousands of dollars.
As a long term investor and personal finance enthusiast, I’ve been to my share of “Make Money Seminars.” These shams get you in the door for free and then up-sell you expensive kits with the secrets to their wealth. I’ve also invested in real estate, bought properties in foreclosure, and am the portfolio manager for a real estate holding corporation. The “no money down” promise is insane. Sure, maybe one person in one thousand can swing it, but if you don’t have any reserve cash, who’s going to pay the mortgage when you are between tenants?
Believe what you read here if it makes sense to you. If the guidelines for wealth building are reasonable, stick around.
Don’t check your brain at the door when you turn on your laptop or tablet.
Here are a few articles worth checking out:
- Get Rich Slowly hosts Charles Duhigg as he writes about The Power of Habit in How to Change Your Spending Habits
- Manisha Thakor writes about Jean Chatzky‘s favorite 3 Favorite Money Rules
- Lazy Man and Money gives 5 Financial Quick Fixes
- The Millionaire Next Door author, Thomas J. Stanley writes The Millionaire in the Mobile Home
- Moneycone explains The Five Minute Retirement Plan
- My Wife Quit her Job; Why Owning Your Own Business Shouldn’t be the End Goal
- The Yakezie, Financial Samurai discusses, Social Security Benefits for Early Retirees
- Money After Graduation promotes Giving as an Integral Part of Personal Finance
- Prairie Eco Thrifter; How Pinterest Can Save You Money
Barb Across the Blogosphere
Check out these sites which showcased my work;
- Len Penzo dot com; Black Coffee Celebrating 16 Years of Marriage
- Funny About Money; Festival of Frugality
- Arbor Investment Planner; Self Directed Investing for Retirement Carnival
- Wealth Informatics; Favorite Reads, Travel Edition
- Free Financial Advisor; Blog Post of the Week
- Financially Digital; Editor pick, Carnival of Financial Camraderie
- The College Investor; Editor pick, Carnival of Passive Investing
What do you think? Is the internet filled with a bunch of empty promises?
