Knowledge vs. Wisdom

Nov 15, 2013

An advantage to working with attorneys is that many of our clients have a good foundation of financial knowledge. However, there is a difference between knowledge and wisdom. Anyone can read books and do research on a specific subject to obtain knowledge, but wisdom is understanding how to interpret the data and apply it to your situation.

For example, someone can use WebMD to read about their symptoms but that doesn't replace the wisdom of a doctor; someone who knows how to interpret your symptoms and provide the proper diagnosis and treatment.

As a Senior Partner with North Star Resource Group, Thomas Haunty wrote, "Do-it-yourself financial planning...is fraught with the same problems lawyers can encounter when representing themselves in legal matters. You lose the objectivity needed to consider all the options and issues that can impact your financial decisions" (Real Life Financial Planning for Young Lawyers, pg. 11).

Providing an unbiased, third party objective is just one the benefits of working with a financial professional. Our role isn't to tell you what to do; it's to provide you with all of your options. We give you the raw economics to help you make informed decisions that can otherwise be very emotional.

Written by Kristin R. Brandli, Financial Advisor
North Star Resource Group 

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