Hitting a Financial Knowledge Peak (and What Really Matters)

I’ve spent the past 2 years+ absorbing all the personal finance knowledge that I possibly can. Books, blogs, webinars, conferences, and more – I’ve read a ton on a wide range of topics. I don’t know everything, but I still feel like I’ve hit a knowledge peak.

Hitting a knowledge peak

In some ways, I’d like to give up my pursuit for consuming more and more financial knowledge. I feel like I’ve definitely hit the point where the return I get for time spent has neared its peak. I don’t know everything, but I do think I know more than I need to live my daily life (and I DEFINITELY know more than the average person).

Can knowing more really help me right here and now? I don’t think so, or not by much at least. It’s more going to come down to how I use the knowledge that I have through the trying time of launching my own business.

Like a lot of things, having the knowledge itself dones’t guarantee anything. It’s how you use that knowledge, coupled with internal and external factors that determines what happens.

Much of what’s really essential to financial success is emotion. It’s how you handle situations in life, like risk, fear, failure, and success.

Emotions

What’s else is wrong with the financial knowledge peak? Despite my wealth of knowledge, I don’t think it will help me most to succeed financially. Not at this stage at least.

When quitting a job or making a career change, it’s ultimately how you act and react in that situation that determines the outcome. Sure, knowledge comes into play, but it can only take you so far. Even with all the knowledge one can possibly have, fear of failure can still snap you like a twig.

I haven’t quit my job yet, but I’ve already experienced just about every emotion over the last several months. Most of them are tied to the uncertainty of my future or working on side-businesses that take a lot of work besides my full-time job. I’ve had times when I was certain that I would succeed, but there’s also been moments where I’ve felt like crap because I’m a failure.

I know it’s going to take even more strength to keep myself on the entrepreneurial path. I’m reminded all the time by others how easy it is to go back to working a steady job with a good paycheck. I’ve seen and heard stories from many people around me that have done that (and they’re often unhappy with their jobs once they go back).

I don’t think it’s always a bad choice to go back to working for these people, but it’s the easy way out in a lot of ways.

Emotion = Living

As much as it sucks to go from the highest highs to the lowest lows, it’s what makes us the most alive. I’ve been in that situation where I just feel numb. No excitement for tomorrow, but not necessarily any resentment for today, either. It just is what it is. It’s easy, but it’s boring.

Creating situations that generate emotion is what defines life and gives it meaning, and I’m all for making those things happen no matter how uncomfortable.

What do you think? Have you hit a knowledge peak?

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photo credit: quinn.anya