Since starting Financial Samurai in 2009, I’ve encouraged folks to keep an open mind and embrace as many different perspectives as possible. So often, we get set in our ways and think our approach is the only right way to do things. But I can assure you, you’re probably missing something—or could do something a little better—that could significantly improve your wealth or quality of life.
One different perspective I recently shared is how the richest people in the world are not index fund fanatics. I think this viewpoint is important because it helps wealth builders expand their minds to what’s possible. Yes, simplicity sells because it’s easy. However, if you want to break free from the herd, you’ve got to take more calculated risks.
Another perspective I offered was highlighting the value of paying someone to manage your money. I try to minimize fees as much as possible. But after managing a relative’s investment portfolios for a year, I absolutely see why fees are justified. Managing money for someone else can be incredibly stressful. I’ll never do it again for free.
In another post, I discussed how cultural differences may impede your chances of getting ahead in the workplace. If you’re part of the majority, you don’t have to spend as much energy assimilating or “sucking it up” to fit in and be liked. You just expect others to conform to you.
The Latest Shocking Perspective That Blew Me Away
While visiting my parents in Honolulu, I came upstairs and found my dad in his recliner watching Wimbledon. I glanced at the TV, which was showing Jannik Sinner vs. Grigor Dimitrov, and immediately asked, “What’s wrong?”
“What’s wrong with what?” he replied.
“Your TV,” I said. “It’s blurry!”
“I don’t know,” he shrugged. “Nothing’s wrong—except this horizontal line sometimes appears at the top.”
“What do you mean nothing’s wrong? It’s totally fuzzy!” I said.
“Oh really? I thought I just couldn’t see clearly anymore,” he answered.
He had gotten cataract surgery a couple years ago, which improved his vision. But he thought maybe it was declining again.
The Blurry 55″ TV My Parents Thought Was Normal
For a year and a half, my parents had been watching this blurry TV and blaming their eyesight instead of questioning the product. Zoom in closely: the name “Sinner” and the score are relatively clear in the top left, but his image is blurry. Even worse, the lower right-hand corner—where another match’s names and scores are displayed—is almost unreadable.
Watching tennis, with a tiny ball zipping across the screen, on this TV would’ve driven me nuts. I fiddled with the antenna just in case, but no improvement. I flipped through multiple channels over WiFI, same problem.
After just three minutes, it was obvious: the TV was failing, and they needed a new one. I couldn’t believe they had put up with this for so long, thinking they were the problem instead of the screen. I’ve seen this type of situation play out in marriages, but not with something as simple as a TV!
A New TV With A New Perspective
While I was already shopping for a new washer, dryer, and refrigerator for the in-law unit, I figured I might as well replace the old TV too. I hadn’t bought a TV in eight years and was blown away by how cheap prices had fallen. For just $650, I got them a 65″ Samsung, had the old one removed, the new one installed, and all their apps set up. It was $485 without the delivery and extra services.
When the installers arrived, they confirmed the issue right away—the inverter was broken. That was a relief, honestly. A part of me had started questioning my own eyesight and worried that even with a new TV, things might still look blurry.
The clarity of the new TV was so much better. Given how many hours a day my parents watch TV, I’d argue this was the highest-impact quality-of-life improvement I gave them this trip. The second was fixing the drip in their kitchen ceiling that had been leaking for over three years!
But the real win wasn’t just a clearer picture—it was helping my parents realize that their vision wasn’t deteriorating at a rapid pace after all. I think as we age, we’re sometimes too quick to accept physical decline as inevitable. We stop questioning things and chalk up discomfort to “just getting old.”
This new TV helped restore not just visual clarity, but confidence.
Please Get a Different Perspective On Your Finances
I hope this story demonstrates how having a fresh set of eyes, literally, can dramatically improve your life. We often let inertia push us forward in the same direction, assuming what we’re doing must be fine. And if we have optimized our finances and lifestyle, great. But if we haven’t, the hidden costs can really compound to the point where we wonder where all our money went 10 years later.
It took me five years of underperformance in my son’s 529 plan before I finally shifted a greater asset allocation toward the S&P 500. With an 18-year time horizon, it made no sense for him to be in a target-date fund with a significant bond allocation. That’s not how I would invest my own money over that duration, as evidenced by my rollover IRA being 100% in equities since I left my job in 2012.
If only someone had reviewed the portfolio with me in 2017 and talked through the logic, his 529 would be $100,000+ larger today. One hundred thousand dollars! Ugh. At the time, I thought I was doing all the right things. I guess the situation is better than not contributing to a 529 plan at all.
When it comes to your finances, please seek out a different perspective. You are likely missing something that could cost you a fortune over time. Maybe it’s being stuck in a high-fee active fund that’s long past its prime. Maybe it’s choosing an expensive target-date fund over a cheaper index version. Or maybe it’s simply forgetting about the idle cash sitting in an old rollover IRA you haven’t touched in years.
Don’t wait 1.5 years watching a blurry financial picture before realizing something’s wrong. A clearer perspective could make all the difference.
Get a Free Financial Check-Up From Empower
If you have over $100,000 in investable assets—whether in taxable accounts, savings, 401(k)s, or IRAs—you can get a free financial analysis from an Empower financial advisor by signing up here. There’s no obligation, just an opportunity to have a seasoned professional review your finances with a fresh set of eyes.
Empower’s advisors build and analyze portfolios for a living. They may uncover hidden fees, inefficient allocations, or overlooked opportunities to optimize your financial plan. Even if you think everything is in great shape, getting a second opinion might help you spot what you’re not seeing—just like my parents with their TV.
The referral is brought to you by Financial Samurai, who has a partnership with Empower Advisory Group, LLC. You can read more about how it works here.
When it comes to your money and your future, don’t go it alone. One conversation could be worth tens or even hundreds of thousands of dollars over time.
To expedite your journey to financial freedom, join over 60,000 others and subscribe to the free Financial Samurai newsletter. Financial Samurai is among the largest independently-owned personal finance websites, established in 2009. Everything is written based on firsthand experience and expertise.
Read the full article here
