Reports that say that something hasn't happened are always interesting to me, because as we know, there are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns—the ones we don't know we don't know. And if one looks throughout the history of our country and other free countries, it is the latter category that tend to be the difficult ones.
-former U.S. Secretary of Defense Donald Rumsfeld
Knowledge is the key to succeeding financially. As the above quote illustrates, we all have a certain amount of “knowledge” – some of which is correct and some of which is not. We are also all aware that there are facts and knowledge that exist outside of our range of education and experience. But most of us are blissfully ignorant of those things that we don’t know and aren’t even aware that they exist.
To complicate matters, there are people who stand to profit from our ignorance and all too often we allow these people to control our money. There are also a number of truly honest people that teach us incorrect “knowledge” because that's what they were taught incorrectly as well. However, if you place your hand on a hot stove, whether you know it’s hot or not, the result is the same – you’re going to get burned. Many times the public can be confused between what is good, sound advice and someone’s desire to sell books and media advertising or be recognized by a company for their sales activity. Because of this confusion, most people may lose more money, unknowingly and unnecessarily, than they can ever accumulate in their lifelong savings.
You can see the dilemma that people must deal with. In every aspect of their lives, from the media, left and right-wing politics and even some religions, people are being told what to think, not how and why to think. And because most people don’t spend a great amount of time studying financial matters, it’s easy for them to get their hands burnt on the stove so to speak.
At Compass Financial Strategies, our goal is to take our years of learning and experience in this area and simplify things for you by transferring that knowledge to you – not to play the “game” of retirement for you, but rather to teach you concepts and strategies that are time-tested and have proven themselves to be effective. Not just the “what,” but the “how” and “why” as well. We want you to break through all the misinformation that you may have accepted at face value and understand the principles so well that you won’t need our help with most financial decisions going forward.
The opinions voiced in this article are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision.
