The opposite conclusion is that you are more risk-taking when it comes to dictating the actions of others, because neither their gains nor their losses directly accrue to you. But human beings feel loss aversion more keenly than they desire gain, so this biases the advice you would give others (but not yourself) riskier in general.
I think this is exactly it. It's easy to see that there's a chance to improve things while ignoring the ways it could make things worse when they won't affect you.
Should you quit the job you don't like? "Of course" the friend will say. But then you might just end up with a job you hate more that pays less, or even no job.
Whether the outside perspective is helpful probably depends on how much your own perception deviates from reality. Though people do have a tendency to prefer the status quo until things change, so maybe you should always prefer the "change" option when you aren't sure.
