March 2024

I admit it. I am a nosy neighbor. I justify this by telling myself it is better to be a nosy neighbor than a noisy neighbor. Now, in my defense, I don’t stick my nose in my neighbors’ business, I just joke about it behind their backs. I even have little nicknames for some of my neighbors: Backyard Neighbor, Floodlight, Mystery Neighbor. In reality, I am probably paying way too much attention to what my neighbors are doing but it is all with good intentions.

While I might know when my neighbors leave their lights on or their garbage cans out too long, what I don’t know is what is going on inside or with their finances. That really isn’t any of my business unless they ask me. Interestingly though, neighbors talk, friends talk, family members talk. In fact, last Spring we had a small party with our neighbors and what does the conversation turn to, but finances. I didn’t provide any advice or recommendations, because as you know, everyone’s situation is unique and blanket advice is not what we do, but I found it interesting that the conversation turned to that topic. What I also found interesting is that much of the information shared or discussed wasn’t the whole story or wasn’t completely accurate. No one was being purposefully deceitful, but seeing how I was the only financial professional in the room, I recognized that the data was incomplete.

When the topic at hand falls under your professional expertise, you probably hear this too. Maybe you are a master gardener, and someone talks about a plant in the shade that should be in full sun. Maybe you are a doctor, or a nurse and you know the knowledge someone is sharing came straight from WebMD instead of a medical professional. The fact is, that unless it is something we study, know, and do day in and day out, we might not have all the facts.

Misinformation is everywhere. The next time your hair stylist or dentist starts sharing financial tips with you – beware. Where did they hear this? What is the accuracy of what they are saying? Remember the telephone game? Maybe they were given valuable information from their financial advisor, but by the time it trickles down to you, its more fiction than fact.

Talking with your neighbors and friends is good. When the topic of finances comes up, just check with us on what is true and what fits for you. And, if your neighbors need to chat, we are happy to talk with them too.