Forrest Gump famously said several times that, “stupid is as stupid does.” Wouldn’t the opposite of that then be “wisdom is as wisdom does?” When we prefer wisdom then we need to seek it. Wisdom is where knowledge meets experience to have good judgement.
As wisdom relates to personal finance the team at Syverson Strege has spent years getting the knowledge through book smarts. And as we have applied this knowledge to more than 500 households over nearly three decades, we’ve gained experience. This results in wisdom that is shared throughout the office.
This is the culture that Johnne and I envisioned for a fee-only personal financial planning firm – one where there is freedom and incentive to share our individual wisdom with one another for the benefit of the client. Through this we help households put this wisdom into action to realize the benefits.
A young professional asks an older professional how they became so successful.
“By making smart decisions,” replies the older professional.
“How do you make smart decisions?” the young professional asks.
“By learning from bad decisions,” replies the older professional.
Along with learning from each other, we also seek what other firms and professionals have experienced. What is working and what isn’t. This way we can learn from others’ mistakes instead of having to make the same error ourselves. This is a more efficient way to gain wisdom. Thus, we participate in national and local study groups, and we attend industry conferences to keep learning what is being applied and what is working.
With more than 500 households that we serve we have experienced and helped people work through various life events – having children, buying a home and starting a business, as well as preparing for successful transitions to a new career, to retirement or out of their business. Life also happens with health issues, disability, death, and divorce. Each of these requires a unique blend of strategies to navigate properly to allow people to still pursue an enriched and fulfilled life.
In my opinion, a wise person:
- Understands that to get wisdom you must seek it.
- Knows their purpose and what they value in life.
- Understands what is important about money to them.
- Keeps an accounting of what they own and owe.
- Prepares a plan before proceeding down a path.
- Builds the plan on a firm foundation.
- Puts the plan into practice with diligence.
- Learns from their mistakes.
- Keeps learning and growing.
- Seeks wisdom of others.
- Knows when to hold their tongue.
- Realizes that pride brings disgrace and with humility comes wisdom.
- Accepts correction graciously.
- Knows that wisdom is better than money.
- Has conversations that are full of grace.
- Is peace-loving, submissive, full of mercy, impartial and sincere.
- Seeks righteousness.
- Loves life and,
- Truly serves others with love.
Those who are wise will shine as bright as the sky, and those who lead many to righteousness will shine like the stars forever. As you want to seek financial wisdom for your own household, reach out to us at Syverson Strege at (515) 225-6000 or contact us online to enhance your journey down this path.
