This is a question I ask myself a lot when it comes to dealing with other people
What’s their interest?
What’s their motivation?
A good example is a financial advisor selling you mutual funds.
Off the top of my head, I ask:
- Are they salaried employees or commission-based?
- If commission-based, do they make any money off the actual sale, or the final amount of what they sell?
- Do they get more money pushing certain funds over others?
- What is the cost to me?
- How is the cost calculated? In what scenarios?
Not all interests or motivations are bad, and sometimes people have an interest in just being good.
Just understanding what someone is getting out of the situation is always helpful, even if you don’t use the info.