How Versus Who

If you have a bad toothache, what’s the first thing you do?

You might give it 24 hours to see if it begins to feel better. Or you might go to WebMD and search for your symptoms in an effort to self-diagnose.

Let’s assume for a minute that with the help of the internet and talking to a friend or two, you’re 90% sure you have a tooth that needs a root canal.

For me, the next step would be to schedule an appointment with a dentist to get a second opinion on my amateur diagnosis.

The dentist might confirm that I do indeed need a root canal. Or she might diagnose something altogether different.

Ultimately, regardless of the final diagnosis and prescribed treatment, are you going to attempt to perform a root canal (or whatever needs doing) yourself, or will you seek the help of specialist?

If you search YouTube for “how to perform a root canal on yourself” you’ll get over 450,000 resulting videos.

Me? I’m calling the dentist.

And while I shouldn’t have to even write the following words, in order to keep my compliance officer happy let me encourage you not to attempt dentistry or any other medical treatment on yourself.

Based on what I’ve described above, maybe you would give it 24 hours, and maybe you would reference WebMD or other websites to try and figure out what’s bothering you. But I hope when it comes to getting a professional diagnosis and course of treatment, you would seek the guidance of a qualified professional.

In this example, a dentist.

And I’m sure you’d agree that this makes sense for any scenario involving your health and well-being.

But what about something a little less obvious?

What about fixing something around your home?

Now, this is where YouTube has been a time- and money-saver for me over the years.

With the help of various YouTube videos, I’ve been able to repair our washing machine, re-grout the tile in our shower, learn how to properly lay carpet, do all sorts of things with our TVs and other gadgets, and more. Much more.

I don’t consider myself to be super handy around the house, but through a variety of summer jobs growing up and with the help of YouTube, I’m willing to tackle many smaller jobs inside and outside our home.

I’ve replaced light fixtures and ceiling fans, fixed plumbing issues, and transplanted azaleas in our yard.

But let me be clear – our home and our yard will never grace the cover of Southern Living magazine.

And there are many times when I haven’t thought twice about calling in a plumber, an electrician, or other professional to make sure the job gets done right the first time.

When I attempt to fix something around our home, it’s driven more by a desire to learn something new or figure out how something works. It’s not a frugal move to avoid paying someone else to do something I think I can handle.

As I write this, there is a long list of things Elizabeth and I want to “upgrade” at our home. Among them, building a new patio off the back of our house. We envision gray flagstone, maybe with some built-in seating around part of the perimeter.

While this stone patio is technically in the realm of something I could do, we’re definitely going to get estimates from at least 3 folks that can do it for us.

Sure, we could save money if I did it, but whereas it would take an experienced contractor and crew a few days, it could take me weeks. This is primarily a decision based on the value of my time.

I can make more money, but I can’t make more time.

I could give other examples.

This really boils down to an issue of “how versus who.”

I can either figure out “how” to do something and attempt it on my own. Hoping I get it right. The first time.

Or I can instead identify “who” can do this for me at a reasonable price and with the expectation that they WILL get it right. The first time.

When it comes to your toothache, the one that may very well need a root canal, I hope we can agree that it’s a “who” issue. In this case, your dentist would be the who.

When it comes to repairing the water pump on your washing machine, that can be either a “how” or a “who” depending on your preference and your comfort level.

What about grocery shopping?

Traditionally, we’ve always taken care of that ourselves because we know how it’s done.

But with services like Instacart and Amazon Fresh, we can now choose someone else to do it for us. And have it delivered to our homes.

Just so we’re on the same page here, I’m not passing judgment on when it makes sense to figure out “how” versus figuring out “who.” That’s a personal decision, and only you can make that call.

The same is true when it comes to your money.

For some of you, money is a “how” matter. You’ll read a book or some blog posts, and take it upon yourself to handle your financial planning, investments, estate plan, and more.

Most of us start this way early in our careers when we’re dealing with our first 401k plan or have some savings we need to deal with.

Or maybe it’s dealing with credit cards, student loans or other forms of debt, and you’ve decided to figure it out on your own.

But there are some of you, including my clients, who have instead decided to find someone (a “who”) to partner with and help you with your personal finances.

Maybe someone like me.

Again, there isn’t a wrong way or a right way to do this. There is only your way of doing this, and only you can decide the best way to address your personal finances.

There isn’t a certain income level or net worth that makes the hiring of a financial planner a foregone conclusion. I’ve met multi-millionaires that handle all their financial planning and decision-making on their own.

I say, good for them.

But what’s good for you?

What makes the most sense for your money-related decisions and more importantly, your life?

I don’t believe everyone needs a financial advisor. And I know I’m not the right financial advisor for everyone I meet or am introduced to.

But if you’d like to discuss things to determine if you might benefit from working with a financial advisor, whether that’s me or someone else, please feel welcome to get in touch. It starts with a conversation.

And if we never speak, I wish you the best with your money and your life. Whether you’re tackling things on your own or are working with a professional.

Photo by Masaaki Komori on Unsplash