Life & Money: Blind Spots

Life & Money: Blind Spots

March 11, 2022

We all have blind spots, and by definition, you can’t see your own.

Let me give you an example.

One time, I was having a conversation with a friend of mine. Let’s call him Dave. Dave was a retired investment banker who really knew his way around money. If anyone knew how to invest, it was him. But he was looking for help managing his portfolio. I asked him, “Dave, of all the people I know, you’re in the best position to deal with your own money. Why do you need help?”

“Ryan,” he replied, “I could manage my own money, except for the ‘I’ part.”

He recognized that when it came to his own money, he had blind spots. He recognized the value of having someone else help him see the mistakes he might make.

This is an important point to understand: You don’t hire a coach, a financial advisor, or a consultant because you’re stupid. You hire one because they are not you… and by definition, that means they may see things about you that you cannot see about yourself.

And that, my friends, in and of itself, is invaluable.