In The Loop With Andy Andrews

On this week’s episode, I address a listener question on the distinction between coaching and mentoring. The question we received is, “What are the differences between coaching and mentoring, and does the distinction really matter?” I think the distinction does matter, at least financially. Mentoring is less in your face, and it’s a little more guidance oriented. When a specific relationship is outlined and you have a detailed goal, you are getting into the coaching area.   I’ve been mentored by people that don’t know it and people who are already dead. George Washington Carver and Joshua Chamberlain have been mentors for me — people who have been written about or have a large volume of work that I can follow. The length of time is a defining feature. I could coach you for 15 minutes, but mentoring is an ongoing process.   A buddy of mine a few years ago told me that his mom left him some money, and he was thinking about hiring a person he knows as a financial planner. I asked how much money the financia