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When scrolling through Facebook, you may have seen posts for GoFundMe’s asking for money to cover anything from charities to surgeries. Overreliance on these types of financing has created what can be called ‘The GoFundMe Dilemma’.
In this episode, Michael Labos dives into the unfortunate connection between GoFundMe fundraising and financial planning, the downsides to using GoFundMe as an emergency fund and three types of insurance benefits for avoiding stressful financial situations.
Michael discusses:
- The role of GoFundMe in society
- The importance of starting a conversation about money
- Why financial agents are beneficial to creating a financial plan
- How guardianship provides protection to children
Related: The Power of Working Alongside Niche Advisors with Evon Mendrin