The difference between good options and great options when it comes to your financial plan

ABOUT THIS EPISODE

See what "great" looks like in your financial plan. Don't settle for a "good" plan; you deserve a great plan. Your plan should be as individual as you are.

Welcome to the build your life podgastwith John Brownie, build your life as a relaxed and unedited conversation withfinancial expert, John Browning John's the founder of Guardian Rock Wealth,with offices in Hawaii, Colorado and Illinois Johns. Also, the author of thebook build a life, not a portfolio, a guide to your financial future, basedon your personal values, whath you can purchase on Amazon or stay around tothe end of today's show and I'll tell you how to get a Frea copy melld rightto your door. I Michael Delan your host for the next few minutes as we chatwith financial expert business owner and author John Browning, hello, John Brownie. How are you todaymy fine friend? I am doing fantastic. It's been a wonderful day so far howabout yourself? CORRIFFIC, Hey! I can't complain. It's really good, it's littlerainy here in Little Rock, but we need the rain to make the trees grow and thegrass grow, and I can pull out my lot lower in a few months. Temole yeah yeah.I hope it happend sooner rather than...

...later is yeah s col there. It has beena little cold here, yeah, they keep teasing us with snow, but it doesn'tget cold enough for us to get snow. So yeah, that's, okay! You know rain isnow that's a good thing. sledding in the snow, that's a great thing, but dhave to go somewhere else to do that right now, but anyway, that's a goodsugway. I think, because what I want to talk about is good to great. I don'tknow if you ever read that book by Jim Collin s years ago, good to great yeahgreatbook. It is a great book, not just a good bud. It's a great one s talkingto friend of mine today at lunch, and I was talking to him about priorities inlife and I said many times. The good is the enemy of the great and we have tobe cautious there, but when it comes to finances in a financial plan John, whatwhat are the differences between having good options and having great optionswhen it comes to a financial plan? Well, I think, first of all as a greatquestion,...

...and you no thanks for asking it,because so many of us settle for good or or even more some good average right.I've never understood that I've never wanted to get upbout a bit everymorning say Iam Gointo be average today whic is doesn't really make a lot of sense tome. I've always wanted to be fantastic or great or or something like that right. Well,it's your financial life. Why would you want to sell it right F for that,especially when you have goals hops and dreams that are very unitu to you thatyou want to accomplish, and if you just settle for good or average, then it'sgoing to be a lot harder to get there. So a lot of people setterfor sort ofthe okay or good rather than great- and I think mainly the reason is they don'tknow what grank looks like so to answer your question moredirectly, you know great plans. This is Talkin about the financial plan itself,Theyre. First of all, they're going to...

...include everything right, they're,going to include tax estimates, a're going to include inflation, not justCPI, but how about the fact that you know health care inflation which islikely to be you know more necessary as you get older, has been greater thanregular, just old CPI or the consumer price index. Thank it needs toinclude include inflation for maybe highereducation. If Youre you have children or yourself that you want to put in theinner through school and, of course, that's all changing right now hasn'tconsidered how that's changing or might change given the pandemic and onlinelearning, and all that increase healthcare, caust possibility for longterm care needs insurance costs and how those might change as you get olderwhen you get into the whole medic Medicare years, and all that, how isthat effective once your employer stops paying for aportion of your healthcare? How does...

...that impact things? You know a lot ofthese will call them the free online, which are okay, the free online plans,and you can just build things out, but they don't necessarily explain and tellyou all. The assumson assumptions that should be there and you know great plans, don't put everyone into abox right. We've talked about that before, where, if you're ex years old-and you have this number for your risk number- then yougo in this box, and this is all you get right because we're all unique we allhave different life- expect ther the expectancies yes, but also haveexpectations of what we want our life to be against my book. Buill, a lifenot just a portfolio right and it needs to be individualis. The plan needs tobe individualized for you and that's the those are the biggest differences Ithink between a good or an okay...

...financial plan. But you know a lot of people and a lotof advisors. Think well, that's just too much work and that's not the way wewant to be at Gardin rock that the way I want to be because I got into thisbusiness because I really truly wanted to help people build their best life yeah and then that's good because yeah,it makes total sense, and I don't want to be just like my neighbor right. A myhouse is different than my neighbors. My car is different than my neighbors.My retirement plan and financial lanth should be different than my neighbors,because we have different goals and objectives and things- and youmentioned a just a littany of things there John- that people are don't haveto go back and listen to, but they're all important. They all play intoholistic financial plan that helps me build the life that I want now andplaying for laer. I love the whole college thing. That was that's huge.How do you plan for that? Making an enterable part and we've talked aboutthat on other episodes and that I part...

...of having a great plan for you, whichis really interest, because a great plan for you, John, might be a goodplan for me, because we have different goals and objectivs right. Yep, that'sright! Yeah, that's exactly Ri and- and you know pretty much, every financialplanter out there is going to tell you O Kn, hey. We treat clients like familythet. You know we don't been doing this for a long time. We do our right thingfor acclint, so you kdow't. We all say that right, because hopefully we all dothat, and the truth is that you know most advisers out there. Do it good, agood job, unfortunately not all of them, which iswhy the trust factor in our industry is one of the lowest right there with youknow car sales bun and things like that and you think of N. it's you know it'safortunate, because there are a few folks out there that have given thefinancial advisory practice. You know...

...kind of a bad name which is terriblyunfortunate, because then people shy away from it when they really need tohave it and think about that. You know if you, if you tried to fix the breaks on yourcurrenty than no idea just because you didn't trust aning a can account there that could be devastate right. Thetcould be you know you could be collecting on that life andshareince alittle bit quicker than you a hope right. That's a great Aalegy, but agood plan doesn't just involve putting people into a box. It doesn't involve.You know just doing an automatic rebalance with thecomputer program that just automatically rebalances you need tohave a conversation with people and say hey what what's happened in your life.How has your plan potentially change and be talking o Talkin and really havean actual relationship with your clients and glancs with their financialadvisor, so that you' have a great plan for you, yeah well, and Ithink you just hit it there in one...

...thing at that, sets you apart, John andGuardian rockwealth is the relationship right. You start with a a very ininvolved, detailed, intimate conversation with your clients, you'reasking why many times to understand what are you trying to accomplish? Whatlife are you trying to build and you stay with them through those lifechanging situations? You know, kids growing up, kids, moving out, kidscoming in whatever job Chai, all of that place into building a life, notjust a portful, it's not just about the number or the balancing act of your ofyour portfolio. It's about your life and that comes out of relationshipright. Exactly yeahi would say that that's howyou move from having a good plan to a great plan as having somebody like Jawnon your team, who can help understand what you're trying to get to, becausesometimes we don't even know what what we need to get to right and and that'swhy? Having those questions that you ask Johna are so helpful to be able tocreate a plan that each of your clients would say. This is a great plan for us...

...me cause really the that's the only onthe matters yeahony on Amais to you, yeah. It really does N and if you'reone of a million in a big box financial thing yeah, you probably have a goodplan. It might do what you needed to do, but why take the chance when Youcanreach out to John Guardian rockweltcom have a conversation, and he canprobably tell you in a short period of time. What's going on and where yousituate in position, and you have a conversation, you build another assetand John's the type of guy. That will tell you if he can help you or notright, and so having that don't don't settle. I guess that's that's a goodway! Don't settle for good when great is within your reach. That's a that's agreat way to put it out like that. That'Sright we'll end on that one, andit's really easy to reach great, because you just have to go to Guardianrockwelthcom and schedule call with John Browning and you're going to havea great conversation and let him help...

...you just talk through the issues ofwhat needs to be. How do you create a comprehensive financial plan for yourfamily that allows you to build a life, not just a profolio so John, that was agreat episode on your podcast. Thank you, sir. All right, thank you. Ood!Well, Tak we'll talk to you next week. Buddy all right! Bybye money really is a big part of our livesand John Brownie can help you and your family learn how to keep money in theproper perspective, it's important, but it's only a tool that can help youbuild the life that you want. If you like, John Admell, you freak copy ofhis book, build a life, not a portfolio, go to John's website, Guardianrockwealthcom and click. The contact o US link and send your request. JohnWillmella copy his book right to your door. Absolutely free thanks forlistening to building your life, podcast with John Brownie be sure tosubscribe to this podcast. So each new episode will be sent to you automagically when it's released have a...

...terrific day.

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