Raise Your Financial IQ
Fear has a funny way of changing our perception of things. It can colour our decisions and make us react instead of act.
For instance, let me tell you a story about a couple I met recently 2019. They had run a factory for around 30 years. They sold it a couple of years before I met them. But they didn’t get what they wanted after three decades of hard work.
Now, their previous cash flow allowed them to set themselves up in a reasonable position. They didn’t feel fully secure. But their finances were decent. They paid off their home and had another holiday home that was also paid off. They also one investment properties and a bit of cash in the bank.
Yet, they still weren’t financially secure in how they were set up. They didn’t have the cash flow to fund the lifestyle they wanted. So, this couple in their 60s did what they thought they had to do…what they had always done.
The went back to work.
My first thought when I heard this was, “What are you guys doing?”
I could see that from their situation it would take me six to nine months to restructure their portfolio and set them up. And they would be set and never have to work another day in their lives. And yet, their reply to every suggestion I made was, “I’m not interested in that.”
You see, their fear of risking what they felt they had created was much greater than their desire for a certain outcome.
The way to counter this type of fear is by raising your financial intelligence. When you do that, you become empowered with your money. And that, in turn, allows you to create effective strategic decisions.
Fear stops taking over when you try to make decisions about your money. You can see a whole new vision. All of a sudden, you get the power to make decisions in your life again and are not being pulled by some hidden strings in your mind.
The fear of risk can happen to any of us. But raising our financial intelligence can combat that fear and give us access to better strategic decisions.
Are you ready to raise your financial intelligence?
— Todd Polke
Data Science implementation for Supply Chain | Bringing Data to Life though Visualisations |
4yClever post and well laid out. Completely agree with you.