Getting Out of Our Own Way

Over time in this column, I have frequently returned to writing about the way that different psychological impulses can push one into bad financial decisions. These are not really anyone’s fault, for they are things that are hard-wired into our brains. One of the best ways to combat this is by having outside help whose distance helps them see that situation in a different, and possibly more correct, view.

Earlier this month, such forces were part of an article in The Journal of Accountancy that said it was one of the key issues that CPAs should take away from the AICPA ENGAGE conference held in Las Vegas. This was actually six conferences that brought together many ideas in the finance and accounting spheres. I must have been onto something then.

​So I wanted to just write this quick piece as a hopeful reminder of how good it is to get out of one’s own head. I am sure we all know of some times when that has been positive for us, and we need to remember the way it can help us in our financial and business lives, as well.  Let it also be a warning that we cannot only ever seek one answer, or one viewpoint, and decide that it is the correct answer.

It seems this may be even more important to remember now outside the financial realm – respectfully listening to others rarely leads to a bad place, especially when we are open to receiving their message. The bad things happen when we refuse to change, refuse to move forward, and refuse to think we could be wrong.