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Value Creation Blog

Remember To Ask Why? – Wealth Management

Posted by Victoria Gehlmeyer

whyI was just reading Jay Goltz’s recent entry in the You’re the Boss Blog on the New York Times website. The topic was avoiding the growth trap. 

In the post he had a great question:  “And last but not least, the second most important word in business: Why? I need to know why exactly I should take the risk.”  For me, the word that stood out was why.

We often go forward and don’t understand why we’re doing it.  Having a good answer for why we want to take certain actions often helps us understand if we want to take the action in the first place. 

Too many times we start a project, get half way into it and then ask why.  Many times we believe it’s too late to stop.  It’s that belief that can get us in trouble. 

When we don’t have a good answer for why it’s important to just stop.  Most of the time stopping won’t cause any harm.  Taking a pause until you have a good answer to why will often help you not do any harm. 

Life is about having a great experiences.  Too many people glumly go through life.  My belief is that many of these people have never asked why, they just keep going.  Having a good answer to why you’re doing something builds safety and fun into your life.

What and how are important, but without why there is no purpose.  Deciding what and how we’re going to accomplish something is important.  If you skip the why step, the activities we pursue can become empty.  I want to live a life that is full and has meaning.  That means understanding why I want to do something is something I need to pay a lot of attention to.

Life is not about accumulation.  Really, those who have the most toys don’t always win.  Those who have passion for life and understand why they live their life in a particular way are those who seem to have lives that are the most fulfilled.

If your why helps you understand what about your goals and dreams is important you will likely work through the dips that occur.  Why helps me when life gets a little tough.  Without a good answer to why I might just stop and never complete the hard projects that bring the most joy.

What about you?  Where does why fit into your life?  Either write me at Jpatrick@stage2planning.com or click here to set a time for to talk.

Josh Patrick

We’ve put together a special report on the Financial Life Of A Private Business Owner.  We’re sure that you’ll enjoy this report and it will help you think about some of the important issues in your financial life.  To get this special report, click on the button below.

 

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Securities and Investment Advisory Services offered through NFP Securities, Inc. (NFPSI), Member FINRA/SIPC. Stage 2 Planning Partners and NFPSI are not affiliated.

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Topics: wealth management, wealth, valuation for wealth management firms

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