When Knowing Isn't Enough

“Knowledge is power.”
- Francis Bacon, 1597

Indeed, knowledge is powerful.  But knowledge alone isn’t enough.  It needs to be followed by action.  We “know” a lot of things - things we should be doing, things we should stop doing, things we need to do more of, things we need to do less of.

Personally, I know - both from scientific research and first hand experience - that I feel infinitely better when I am in bed and asleep by 10:30pm, when I have a good portion of protein for breakfast, and when I’m getting regular cardio exercise.  

And yet … it’s rare for me to be in bed by 10:30, I skip breakfast more than I eat it, and my cardio exercise is mostly displayed in playtime with my kids.  Why is that?  Because I don’t make them as high of a priority as I should.  Things always seem more important (I want to watch my fantasy football team lose again; I need to get started with Fident; I hate running.)

Financially, we all know a lot as well.  We know the sooner you get started investing the better.  We know we shouldn’t carry credit card balances.  We know we shouldn’t worry so much about the daily stock market movements.  We know we need that life insurance (term, please!) policy.  Yet all too many of us don’t act on it.

Here’s my challenge.  Write something down that you know you should be doing but you’re not.  Share it with a friend, or a spouse.  And think about what obstacle is preventing you from doing it.  
Interesting Resources 

1. Twitter (@ConcentusWealth) - Redesigning Market Return Data Tiles
Loved this tweet on the idea of redesigning financial media’s reporting of the stock market indices.  Instead of only showing the daily movement, showing it right alongside the 1 year, 3 year, 5 year, and 10 year returns.  I’d probably say it’d be even more ideal to show annualized returns (instead of total returns), but I’ll take whatever we can get to move away from the obsession over daily movements.  

2. The Art of Manliness - The 7 Habits: Sharpen the Saw 
Such a good personal reminder to me on the value of taking time to “sharpen the saw,” one of Steven Covey’s 7 Habits of Highly Effective People.  Sharpening the saw means taking time, regularly, to renew and refresh our four dimensions of our nature: physical, spiritual, mental, and social/emotional.  Doing so makes us more effective in our life’s work.  If you’ve read Covey’s book, this is a great refresher.  If you haven’t, go give it a read.  

3. MAKE Films - The Day I Became Alive (YouTube) 
I am truly blessed to count Derek and Ashley among my friends, and he and his team at MAKE did a tremendous job creating this mini-documentary (12 minutes) chronicling his journey with discovering he had colon cancer at age 31.  MAKE is a film-maker located here in Lancaster who does world-class work.  Take the 12 minutes to go watch this and be inspired by Derek’s faith and strength.  
Anything click in your mind with something that you know you should be doing - or stop doing - but haven’t quite yet?  Let me know in a quick reply.  And don’t worry, I’ll have by no-blame-no-shame hat on.  

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