I am sure that you have heard the common statement, “There is no such thing as a dumb question.” This cliche statement is often made to encourage people to be vulnerable and not be afraid to ask questions in front of large audiences out of fear of sounding ignorant, being off base or being the only one in the room who does not understand something. Here’s the thing, dumb questions do exist, but that does not mean that we shouldn’t ask them.
Curiosity is what drives improved knowledge. At some point, we did not know what we know today. How did we learn it? Either through experience or questions. If we choose not to ask questions we learn through experience. By not asking dumb questions, we learn things the long and hard way. Would you rather learn something after one year that you can learn just by asking?
This reminder can be applied universally. Most applicable to the content on the Learn to Invest blog is the use of dumb questions when it comes to finance and investing. If you are a potential passive investor and do not know what a cap rate is, ask the question. If you are not familiar with the difference between physical vacancy and economic vacancy find out. Do not be ashamed of learning. By asking you are short-cutting your knowledge and on track to make results happen and build wealth sooner than those smart people that never have questions.
I have challenged myself to do the same in my investing journey. I am constantly networking with people more experienced than me and certainly smarter than myself when it comes to real estate investing. I consciously have to condition myself to ask when I do not understand or seek clarification. And you know what happens? I get smarter. I instantly learn the answer and never have to wonder again.
New knowledge instantaneously becomes part of my compounding base, used to build upon for more future knowledge and application. So yes, there are such things as dumb questions, and yes, you should ask them. Read, network and get experience and along the way, you will have questions. Be the bravest person in the room and just ask!
