You Don’t Know What You Don’t Know

There’s a quote often attributed to both Socrates and journalist Bob Woodward that has become a guiding principle in my life: “You don’t know what you don’t know.” I’m currently reading The Invisible Gorilla by Christopher Chabris and Daniel Simons, which explores how our minds handle attention, perception, memory, and reasoning. One of the book’s most powerful conclusions is this: our minds don’t work the way we think they do.

In one experiment, Chabris and Simons found that 50% of people completely miss critical information, even when it’s directly in front of them. Why? Because we tend to see what we expect to see and create connections based on assumptions, not facts. This has profound implications—not just for how we process the world, but for how we make financial decisions.

Is Your “Finance Guy” Really the Right Fit?

Everyone seems to have a “finance guy.” When asked why they work with that person, the answers are often based on familiarity rather than expertise: We’ve been friends for years. We go to the same church. We met in college. But when it comes to managing your financial future, are those the right reasons to entrust someone with your most critical decisions?

The real question is: Is this person putting your best interests first? Are they proactively identifying opportunities and risks, or are they simply reacting to what’s in front of them? Your advisor should be focused on your specific needs, not just maintaining a relationship.

How to Make Smarter Financial Comparisons

Improving your financial outcomes starts with clarity. First, make sure your data is accurate, well-organized, and interconnected—this allows you to draw conclusions from real information, not guesswork. Then, if you’re comparing multiple advisors, make sure you’re comparing apples to apples: same data, same timeline, same expectations.

At Gainplan, we’re passionate about helping people cut through the noise, uncover what they don’t know, and make confident, informed financial decisions. If you’re ready to see your financial picture more clearly, we’re here to help.

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