All advice is like investment advice

Take it at your own risk

A friend of mine invests for a living, and not in the boring, pay-the-bills kind of way. He LOVES it.

When recently, in a group conversation, he started talking about his latest investment strategy, his eyes lit up with a fiery passion. 'You wouldn't believe the potential in this sector,' he said, leaning forward, his excitement palpable.

His animated gestures and the urgency in his voice drew us in, and before we knew it, we were caught up in an impromptu sales pitch—and it was working.

We hung on his every word, swept along by his infectious enthusiasm. The air buzzed with energy, and suddenly, his dreams felt like our own.

In that moment, it didn't matter that most of us had never invested before. His vision was so compelling, it felt like the only logical step was to dive in alongside him, and buy some stocks.

Wait a second, I thought—what am I doing? I don’t know the first thing about investing.

This moment of clarity got me thinking about the responsibility we have as advice-takers when listening to others.

Salt to taste

I've been, ahem, gently encouraging people to avoid giving advice for quite some time now (like here, here, and here). Yes, you heard that right—I'm advising against giving advice.

But almost jeopardizing my financial future due to an enthusiastic investment pitch got me thinking about the responsibility we have as advice-receivers.

While it's easy to get swept away by someone's enthusiasm, being influenced by an authority figure, or persuaded by a hero we admire, it's crucial to make up our own mind and take ownership of our decisions.

Sure, I’m working towards a world of coaches, where everybody treats giving advice with care and reverence. But when that’s still not the case, it’s up to us, advice-recipients to stand our ground and detect what is happening in front of our noses.

I.e take every bit of advice, even if it comes in the form of a brilliant presentation, or is delivered by your biggest hero, with a massive grain of salt.

Your mileage may vary

‘Absorb what is useful, discard what is useless and add what is essentially your own.’ — Bruce Lee

Advice, while often well-intentioned, rarely works as expected.

The experiences, backgrounds, and contexts of the advice-giver and the advice-receiver are usually vastly different. What works for one person and their unique circumstances may not translate well to another's situation.

This mismatch can lead to advice simply not working, or worse, frustration and misguided actions, making the advice not only ineffective but sometimes even detrimental.

It’s a bit like that classic genie trope. You make a wish with the best of intentions, hoping for a positive outcome. But without considering all the possible consequences, you end up with something you didn’t quite expect—like food that turns to gold or endless life accompanied by perpetual aging. Just like how a well-meaning piece of advice, when taken without careful thought, can lead to unexpected and often messy results.

Wise people know this. They realize that everybody is different and that ‘mileage may vary’.

Some of the smartest people I know are constantly saying: ‘Don’t take my word for it’, ‘Test it out yourself’, ‘Don’t take it from me’ and for good reason.

You don’t just simply take advice from someone. You evaluate it, make it your own, take what resonates and leave the rest.

Advice vs. information

One question I frequently hear from students—both from peers during my coach training and participants in my workshops—is: ‘Don’t people sometimes just need information?’

Absolutely. There’s valuable information out there that could hugely benefit you.

However, as information consumers, we need to reflect on our motivations for seeking this information. Are we genuinely interested in finding useful insights for ourselves, or are we influenced by the authority or enthusiasm of the person giving the advice?

We frequently seek advice from those we view as experts, believing their guidance will solve our problems. And I get it, quick fixes, easy answers, and silver bullets can be incredibly tempting. 

But the eagerness to follow expert advice can overshadow the need for critical reflection and double checking the relevance to our own situations.

Understanding the distinction between interpreting information ourselves and simply following advice is crucial. 

Luckily, straight-up advice is very recognizable. It’s explicit and directive. Like ‘I think you should …’ or ‘You need to …’ It’s prescriptive and leaves little room for personal interpretation or flexibility.

As advice assessors, we should beware of this. Exploring the ideas presented for ourselves, makes it more likely we will find value and relevance in the information.

So, just as we’d approach a genie’s wish with caution, we should be equally wary of direct advice, no matter how enthusiastic the presentation.

But please, don’t take my word for it.