It occurred to me that I should establish some meaning around the titles of my current expose(s). “The Unconventional Conventional” and what exactly does that mean? What exactly do I want to get across to you? It may be best to start with the meaning of “conventional” and for that purpose I have selected the Oxford Dictionary of Current English, Third Edition, 2001. Conventional is based upon the root convention which means 1) a way in which something is usually done, 2) socially acceptable behaviour, the next two definitions that follow are not relevant to my topic, YOUR money. The meaning of conventional is, 1) based on or following convention, 2) following social conventions; not individual or adventurous.
To summarize then, conventional seems to mean being one of the sheeple, one of the majority, following what is usually done. Wait a second here, is this what we are striving for, to be like everyone else, especially when it comes to money and finances? Of course not. You the people are reading about money issues to win the retirement game. Not to come in second. Does that make you an individual or are you part of the group? Does that make you un-conventional? Maybe you need to think and act in an unconventional way.
The meaning for unconventional by the way, from the same source is, 1) not following what is generally done or believed. You have to be unconventional to be different. If winning the retirement game is left only for the few, then you are not the majority, you are a minority and
perhaps even slightly unconventional or different yourself. Congratulations! Perhaps we can agree that being unconventional can be a good way to be. And that is what I want to do. Shake up those individuals who are buying financial products because of the herd mentality, because everyone else is doing it. And maybe provide some insight into strategies that will really help.But more than that, I want to shake up the advisors who promote that herd mentality and the institutions that support those advisors into thinking that their solutions are made for everyone.
For example, I detest RRSP season. It comes in the 60 days after your year ends and offers some hope of reducing taxable income for those that do not tax plan all year long. Even the bank tellers chirp their enthusiasm for a single solution product by asking if you have bought your RRSP yet every time you happen to line up.
Financial literacy starts with you, stand out from the crowd, do a little research, get educated, read this column weekly and together we shall shake up the financial community and find a few unconventional solutions to lead us to financial independence.
Copyright 2012 Richard M. Kiernicki. All Rights Reserved.
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