A Narrow Lens

I asked in the past if the financial independence community is close minded and got quite a response. Obviously, we as a community, do things in a different way. This difference not only defines us, but is often what we like to consider the secret sauce. There are tenants to financial independence. We like to ruthlessly apply them, and sometimes go as far as to shame people who do things differently. But are we close-minded? Are we looking at the world with a narrow lens?

I have been asking myself this question often lately. Maybe there are many different paths to wealth and happiness, and mine is just one. No better or worse than the others.

Here are a few of my viewpoints that are changing.

Financial Advice

Everybody knows by now that I fired my financial advisor. After much reflection and thought, I wonder if I am too hasty at decrying the benefit. While it is quite possible that I no longer needed an advisor at that point and time in my life, it does not mean that there is no value. Even if returns can be better and costs lower, a good advisor can help with so much more than just investments.

Was I looking at the world through a narrow lens? Even if I wasn’t benefiting at the moment, there are many who don’t have the patience nor time to learn what I have. Maybe anxiety about asset management is enough to make help worthwhile for some of my readers.

Better yet, maybe when the market tanks, a good portion of individual investors will panic without the steady hand of a knowledgeable advisor. There are many who are guilty of selling low and buying high. Couldn’t they use some help?

Stock Picking

Ok. So I will never be a stock picker. I have neither the time, interest, nor insight. But should I let my proclivities dictate how I feel about others? I have in the past.

In the past, I would hear about some stock investment or another and sneer. I remember thinking so clearly. If they just invest in an index fund they will do better. They may, or they may not. But I suffer from a narrow lens if I dismiss such behavior without understanding it more.

If done correctly, a well thought out non index allocation can perform well too. Even if that’s not how I do things.

Spending

There is definitely such thing as a frugality treadmill. Communities always tend to push groups of individuals to the extremes. So it is not surprising that I have started to criticize people about spending. How do I not get judgy when I see others complain about having enough when they are driving expensive cars and wearing high priced clothes?

It is easy to see life through a narrow lens, and just tell them that they are doing it all wrong. And possibly they are. Or maybe their priorities are just very different than mine. There is nothing wrong with spending money. In fact, that’s actually the purpose of having it in the first place.

It is none of my business how people spend. These are individual choices that have individual consequences.

Final Thoughts

I am trying to evolve. I am trying to not see life through a narrow lens. In order to do so, I have to question my assumptions. When it comes to personal finance, this means letting go of my tirade against financial advisors, stock picking, and spending in general.

These are individual choices whose value and merit have little to do with my opinions.