Financial Ignorance is a Strength

By Noel LaMontagne

Although it can be perceived as an ugly word, “ignorance”, by definition, is a lack of knowledge and information. Ignorance can be bliss, as the saying goes, but it can also be dangerous. When you talk specifically about financial ignorance, it most certainly is ugly and absolutely dangerous.

So, let’s turn this around a little bit and use ignorance as a strength as it pertains to your financial world. Knowing what you do not know about the financial world is one of the best weapons athletes and entertainers can have in navigating what can be one of the most intimidating aspects of your overall personal and professional wellbeing. Performers of all types are supremely confident in their craft and comfortable as the masters of their domain. After all, who else can do what you all can do without even a second thought?

Well, just because you might know it all in the arena or on the stage, it does not mean that you must know it all everywhere else. The personal perception that you always must know and be in control of everything can be intimidating. Our pride and egos as individuals do not want us to be perceived in a certain way if we do not know something or must ask a question to understand or get clarity. Think about it like asking for direction or coaching because you are not getting something right after trying to hit your mark repeatedly. If you have an awareness about where you are lacking, you know exactly what you need to ask questions about to learn and understand.

This is the same in the financial realm. Being open and honest with ignorance makes it easier to go to the right place to get the advice you need, and it empowers you to become a smart and more confident investor.

See how quickly a perceived weakness can be turned into a strength, so long as you are honest with yourself and your trusted advisor as to where you may need some help? There is nothing wrong with ignorance, it really can be bliss by helping you find the help and get the answers you need.