Hire Elon Musk??? Not so fast.

There is an interesting life-learning opportunity playing out at the moment. 

Elon Musk has been appointed by the Trump administration to head up the Department Of Government Efficiency or DOGE. You know that.

On paper it seems like a great appointment. The need for government efficiency is hard  to argue against. Especially as South Africans.

But would you hire Elon Musk as your advisor?

There are a few hundred million people who would probably answer yes to that.

My take is slightly more nuanced. 

The obvious argument:

• • He is smart. IQ smart at least.

• • Super analytical.

• • Clearly he understands complex systems.

• • Has a proven track-record of success.

• • Experienced risk-taker. 

• • Happy to make mistakes and correct from there.

• • Well connected. He has the US President as his car salesman for goodness sake. 

The counter-argument:

• • He is impulsive. Makes changes, asks questions later. 

• • Prone to oversimplification: Despite understanding complex systems and nuances he seemingly chooses not to always factor that in.

• • Favours speed over accuracy. Wants to get things done quickly rather than properly.

• • Focuses on the outcome with disregard for the journey.

• • Misses or intentionally ignores the unintended consequences of his actions.

• • The trade-off’s he is comfortable with may be different to yours.

• • His risk-management-framework may not align with yours.

• • What about his values and principles. Will he treat you like you want and expect.

• • Integrity & Intent – He can have all the knowledge and skill in the world but if he acts like a self-serving salesmen you won’t get a good outcome.

• • Lacks EQ or empathy. What kind of relationship will you have?

Making smart financial decisions—like fixing government—requires more than bold claims and gut instinct.

The Takeaway: What makes financial advice good and what makes it great.

Good advice takes real analysis, long-term thinking, and the willingness to embrace uncertainty.

Good advice will look at your finances from an overall perspective. It incorporates investment strategy, risk planning, tax planning, estate planning and cashflow management.

But great advice takes this even further. It comes through the understanding that financial advice is as much ‘personal’ as it is ‘finance’. It’s about aligning your financial decisions with what truly matters to you—your purpose, values, and vision for your life.

Great advice considers that there are two sides to every financial decision. The money math’s and the money happiness. Spreadsheets don’t always lead you to the right decisions about what is best for you.

When done well, financial planning becomes not just a process to manage money effectively, but a way to create the life you want to live.

iLoni Maskandi, from Okumhlophe Investments, understands this well and incorporates it into how he looks after people.

Maybe he would make a better advisor for you? 

You can visit his frequently asked questions page HERE

#orderpurposeprogress

Credit to “The Kiffness” for the name and image of iLoni Maskandi used in this piece. 

Reach out if you have any questions on the above or if you would like help making progress in your financial life.

Email Dominic

Follow White Investments Facebook Page for insights, motivation and sometimes a bit of fun.

This article first appeared in White Investments monthly newsletter. Sign up at the bottom of this page or check out past editions here.