#Uncertainty February 27

by Coach4aday · Published February 27, 2020 · Updated February 27, 2020

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I had a chance to listen to Peter Mallouk who is the President of Creative Planning. If you want to listen to what I heard go to the Tim Ferriss Podcast

I loved a number of things that he had to share on the topics of investing, assets, and the quality of life. He made me feel great about the advice I receive from my financial advisor Alfredo Dipinto the President of Legacy Asset Management Partners.

Peter and Alfredo both love to talk about the word UNCERTAINITY as it relates to investing. We cannot eliminate all risk but what is most likely to happen.

The key to dealing with UNCERTAINITY is education. When we are not educated about investing we have a default setting to let fear rule our decisions and behaviors.

Dave Ramsey in his book EntreLeader says that “fear is the ultimate cause of paralysis when it comes to making a decision”. He also says the bigger the decision the more information (or education) you need to obtain.

Peter and Tony Robbins co-authored a book called “Unshakeable”. I found a summary of the book online if you want to learn more click this link.

Dealing with UNCERTAINITY all comes back to how much can you learn about things you don’t know. Investing, health, and leadership all require decisions.

When we spend time learning it helps us make good decisions. Studying problems helps minimize our UNCERTAINITY which reduces our fear. Decisions made out of fear are not the way we should approach our lives.

Titus, the Roman Emperor said:

“We fear things in proportion to our ignorance of them”