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April 9, 2013

Look with Your Eyes Not with Your Mouth

by The 401k Study Group ®

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My wife is the keeper of any and all information worth knowing in our household. She is the expert and I get to ask her for everything from the checkbook to the TV remote. One day she wondered aloud if I were looking with my mouth instead of my eyes. Ouch!

Question: Are you looking with your mouth instead of your eyes when it comes to learning the 401k business? The most common trait of our Intentional members (those with many plans) is that they are in the habit of looking with their eyes. The result is a knowledge base that serves them for the future.

On a trip to Cleveland to visit one of our Sponsor/Members recently I was reminded how important reading and self study is for successful advisors. Darrin Farrow an FA as well as President of Adviceware the 401k participant advice tool provider, researched a complicated question for me on Social Security benefits. He eagerly rolled up his sleeves and studied for the answer from a detailed series of documents. RESULT: He accurately answered my question and built another few mega bits into his personal knowledge base.

If you are in the habit of looking with your mouth in our industry you might be missing a big learning opportunity. You will also be overlooking one of the key habits that Intentional Advisors do as routine.

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