When You Don’t Know What You Don’t Know


“Thanks for offering to answer my questions but I don’t feel like I even know enough to know what I should ask. I’d rather not waste your time.”

That was how a perspective client started a conversation with me the other day. We have been personal acquaintances for about five years now and a few weeks ago when I had advertised my financial planning seminar she had wanted to come but couldn’t make it work with her schedule. I causally offered to meet for coffee sometime and answer her questions directly. The next time we spoke, a few weeks later, that’s what she said.

The sentiment expressed in this comment is all too common. It comes from a place of self deprecation and humility but also a false belief that professional advice is somehow reserved only for the “elite”. Nothing could be further from the truth.

statsStudies have shown that of households who consult with a Financial Advisor 60% feel prepared for a financial emergency, 65% feel they could manage through tough economic times and 73% are confident their families will be taken care of if they died.

So I said to my acquaintance and perspective client;

“I am actually glad you feel that way, the entire advice industry is based on the assumption that we don’t know what we don’t know so I start by asking you a series of questions to help frame your goals and dreams. The fact is you do know what questions you want to ask, you just don’t have enough confidence to ask them yet. My first task is to help you see that your questions have merit so you feel comfortable asking them.”

We’re meeting next week.

The fact is life can be complicated. When you hesitate to ask questions about things you don’t understand it makes things even more complicated than they need to be. Back in college I had a professor who used to say that the only stupid question is the one you don’t ask. When you don’t know what you don’t know you need to ask questions, even if you don’t quite know what to ask.

I’m in the advice industry and my best advice, regardless of the situation boils down to one thing – Ask Questions.

anglesA good Financial Advisor will provide integrated advice that will ensure your security is viewed from every angle. From tax advantages and protection from market volatility to personal risk management and paying attention to debt, a sound financial plan gives your financial security the attention it deserves. By guiding you through a goal setting process your advisor it will start to answer questions you might not even know enough to ask.

Don’t ever feel like you don’t know enough to talk to an expert. That’s what we are here for.

Lauren C. Sheil is a serial entrepreneur who has been in business for over 25 years. He has operated farming operations, a recording studio and a music manufacturing plant, has written 3 books on Economics and Christian Ethics and presented his ideas to business owners and ministry leaders from all over the world. His latest book “Meekoethics: What Happens When Life Gets Messy and the Rules Aren’t Enough” is available on Amazon.com.

Mr. Sheil is currently a Financial Security Advisor and Business Planning Specialist with one of Canada’s premier financial planning organizations.  He is passionate about helping entrepreneurs to live life to the fullest while Eliminating Debt, Building Wealth and Leaving a Legacy.  

He can be reached at themeekonomicsproject@gmail.com or by calling 613-295-4141.

 

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