In whatever it is that you do, knowledge is power.
The ease with which we can access information is better than it has ever been and people can learn ANYTHING they want from the comfort of their own couch. The problem is that the way the majority of people access their information is messed up. I know many people whose only form of ‘education’ comes from reading/watching what is posted on their social media feeds, and all they do is regurgitate what they have seen without thinking for themselves or questioning what they saw.
Adding to this, the consolidation of media corporations globally means that about 6 companies control 90% of what you see and hear with the intent of making massive profits off you. Don’t believe me? Click here and here for proof. The scary part about this is that many people are completely oblivious and letting it happen.
The sales tactics of these large corporations are making us think we NEED to have that next product or our lives will be miserable, we will have no friends, or be failures at everything we do. As I have grown older I have realized I was, and to some extent still am, affected by this. Luckily for me I have had people around me to learn from, who think for themselves, listen and learn from others, questions their beliefs, and know who they are and what they want.
Coincidentally these are the same people that are the happiest, smartest, most fun to be around, and the most successful people I know. They have also taught me a valuable lesson: question everything. To me this applies in every aspect of life and specifically what is most relevant to me right now: finance and investing.
So often people hear about a speculative stock pick and then buy it right away without knowing a thing about it. It’s absolutely crazy to me, and exactly what is going on with the media and corporations. People are believing everything that they hear, forming opinions and making huge life decisions based on what someone else has said or done; they aren’t doing any research or due diligence themselves.
Another example of people acting before thinking comes when they are picking financial advisors. How does an individual choose an advisor who actually knows what they are talking about, as opposed to getting drawn in by a slick sales pitch? As with anything, you have to educate yourself, and ask questions. Sit down, do some research and figure out the right questions you need to ask, then go and talk to enough advisors. Check out these two previous blogs (1 & 2) where we give you two key questions to ask while selecting a financial advisor.
Instead of getting drawn in by a sales pitch or deafly listening to the next guy, I challenge you to do some research yourself to find the right questions to ask. By doing this you will know far more about how to select the right advisor. A good marketing pitch will get you in the door, but if you don’t know what questions to ask, you might as well have randomly picked a name from a phone book. We love to work with people who want to know what’s going on and who question the status quo. It helps them be confident in their choices, whether that is choosing a financial advisor or voting in an election.
Don’t be a victim of modern day propaganda. Filter out the sale garbage, think for yourself, and find out what YOU want, not what everyone else wants for you, then pursue it with an open mind and curiosity.