This third blind spot refers to the fact that your own cash has value and this is related to opportunity cost based on how we use our money on a day to day basis.
This personal finance blind spot has helped Kim stand apart from other financial advisors since opportunity cost is not something that most financial advisors talk about. Also, Kim shows us the importance of educating the clients about this matter.
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- Kim shares with us the third blind spot in a series of seven for personal finances – 1:44
- Kim talks about Financial calculators – 2:10
- What it’s the Third blind spot?: opportunity cost – 2:30
- The typical financial planner does not talk about opportunity cost -3:20
- Kim explains to us the issue with opportunity cost – 5:38
- She talks about the importance of losing interest by removing cash from an account – 6:30
- Kim tells us that our own cash has value and cost – 6:44
- Every day your cash can earn you interest or lose your interest -7:19
- On the advisor section of the podcast we get to listen to Noah Kelsch at the 2018 Summit for Prosperity Economics Advisors – 7:54
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