Feel the Fear and Do it
Posted by siteadmin on Wednesday 17th January 2018.
As you may have seen from my last Vlog and to celebrate our 30th wedding anniversary my wife, Caroline and I, returned to Hong Kong where we honeymooned. This time however, we had our children with us who are both now in their twenties.
To relax after the glorious hustle and bustle of Hong Kong, we spent the remainder of our time in Thailand. And it was whilst lazing on my sun lounger that I got the inspiration behind this blog.
Caroline had gone for a swim and the book she was reading had a title which caught my eye. It was called 'Feel the Fear and Do It Anyway'.
The brief introduction to the book set out clearly what it aimed to help the reader with. It made some great points about people fearing new beginnings and endings, fearing change but also being anxiety filled about being stuck.
I put the book down after reading that introduction because Caroline had returned and wanted it back. And even though the book falls under the ambiguous self-help category, it could for sure apply to lifestyle financial planning as well.
I often see clients who are worried about making a decision and the fears they have are varied, such as:-
- Will I have enough to retire?
- How can I protect myself?
- Am I able to live the kind of life I want to?
And a fundamental fear of what if my financial plan is flawed (that’s if they have one)?
All the above, and more, I’ve seen and helped people overcome over the 28 years I’ve been in financial planning.
An element of fear is healthy. But when it leads to decision paralysis it is also dangerous, as there’s often far more risk in taking no risk at all. It’s not just clients who feel fear. A lot of financial planners are fearful of the myriad of rules and regulations within the industry too. The regulations are there for a good reason, to protect people and ensure the right way of doing things and that these are adhered to.
There's absolutely nothing wrong with that. But the fear of regulation can sometimes distract from focusing on the most important element of making sure the client’s fears, ambitions and financial goals are listened to and acted upon. Basically, it's not about the money (although it is). It's what you do with it or are able to do with it that matters.
So if there is a part of you that fears getting your life as well your financial plans in order, you know what to do. Action is the first step in overcoming this. Feeling the fear is natural and going beyond the fear is necessary where you have to be brave too.