As a new investor, you are probably keen on making money when allocating your funds in an investment account, like a mutual fund, 401(k) or directly in the stock market. However, what is often forgotten is that, like any other financial service, there are likely fees to contend with at every corner.
Whether this person asks you for financial advice or the topic of his debt surfaces in some other fashion, he might be sensitive about the subject. Matters of money and debt are often associated with personal, emotional concerns. You'll want to be tactful in your discussion to avoid making matters worse.
The news is already filled with advice on how to build better finances or warnings that Americans' balance sheets are tilted too far toward debts and not enough toward savings. Yet following the advice or heeding the warnings is easier said than done without policies that help families and individuals save and build assets.