Episode 3: Finding Your Values

ABOUT THIS EPISODE

Welcome to the Build Your Life Podcast with Financial Expert John Browning.

On this episode, you'll hear about how to discover your personal values and how John's process of delving into your values will help you create the best portfolio possible. Why ask why? Tune in to find out how this works!

For more information, visit www.GuardianRockWealth.com to learn more about what John can do for you.

Welcome to the building your life podcast with John Browning. Building your life is a relaxed and unedited conversation with financial expert John Browning. Hello, John, how are you today? I'm doing great. How are you? You know I'm doing fabulous. It is always always good to be alive, but always good to have a few minutes to talk with you as well. It's always encouraging. So this is your podcast where you get to talk to people about their values and about building a portfolio that supports their personal values. And in your book you talk a little bit about the process that you have created and that you followed to help your your clients, understand their their values so that you can help them create the right fuel, as you call it, the right money, the right money strategies to support their values and to live the life that they really, really want, to want to live. So on...

...this episode, John, what I really want, would love for you to do, is unpack that port that that process that you have developed to help somebody really find and understand their values. Can you do that? We do is is we contrary to what what many financial advisers will start with, is we don't really get into tactics and strategies. That to me as the the easy part of managing and building a Portfoli of that's specifically built for you, the client. But where we start is I'll ask the question and almost every every meeting I'll say, Michael, what does money mean to you? And the answer to that question is is more diverse than you might think and people generally take a few seconds or even a minute or two to really think that through just based on the way that we ask it. They're not really expecting...

...that as a question from a financial advisor, but it's so important and that really begins our process. Usually there's a little bit of stumbling around is somewhere in there. We get to safety and security, we get to then we started digging down deeper because, well, why, why do you believe that safety and security is important to you? And that would seem obvious, right it would? Well, I've got to live, I got to eat, I got to do all that. Right, well, again, what's important about that to you and we start going up the essentially what becomes the maslow's hierarchy of needs and and we begin to uncover for that individual, and usually it's not something that they've thought about or at least not deeply, about about what's really important to them, and maybe it's family or maybe it's travel, or whatever it is for that person, and it's all based on their perspectives...

...that have been built up for their entire lives. What's important to them? About Money? And then we talked about money is fuel to get them to the things that are important to them, and I challenge them a bit again each step along the way is you know, well, well, again, what about that is is important to you? And eventually we get into, generally speaking, we get into legacy and what they want to leave behind, what they want to do while there's still alive. That makes a difference, a lasting difference, on the world that they leave behind, whether that's their kids or literally the world. And then from there we go into setting goals based upon those values that we've discovered and we use the the idea of the smart goals where where we make a very specific and we put a time frame...

...on it and the question is there, well, what are some things that that are going to require some time and planning, financial wherewithal to accomplish, and then we'll when, when would you like to accomplish that? A lot of people have ideas about I want to accomplish x, but they really haven't thought about when and they haven't put a price tag on it. And and the question is, then, if you could have someone with the experience, say thirty years of experience on Wall Street help you get to those places, would that be of interest to you? And you know, that's that's kind of how we go and then we move on to the third section. Once we've come gone through that. The third section is where you now. With any with any map, the most important thing, or least very high on the list, is where you now. If you don't know where you're starting from, truly are to get going. First thing I look at when I go to them all and I'm looking for a store that I need to get...

...to, is because I'm a guy, so I'm a hunter, not really a shopper. Okay, I want to go to the map and if I don't, where where am I? And then I look at where I want to go. So getting all those documents together, which is a little bit of a pain and requires some effort on the part of the client, but once they do that and we have that, it doesn't really take a lot of time. To figure out exactly where they are and from there we use the goals as the stops along the road map that we go for them, and then we get into a little bit of the tactics and the strategies, which, again that's the fun parts, for me at least, as to how they get there. Very cool. So your vehicle analogy continues to come come to play that money's a fuel we're basically driving in. You're the shock absorber because you're the you're the no Gui that we talked about, I think, in the last time, but here is really talking about what's money mean to you? Where do you want to go? So a destination, you always have to get on the map. If you're gone from, you know, New Jersey to La, you've got to lay the map out, whether it's Google maps or whomever. I know where you're going. We're what where...

...do you putting behind it? Do you have the money saved for that trip? Are you got hotels along the way, things of that nature, which is what you're talking about. And what are the goals? Are The road sauceware that? What are the things along that that path that are going to get you there? And when are you going to get there. So it's really interesting, as you think about that analogy of a vehicle and in car trips and vacations which we've all taken. That's really what you're doing when it comes to to building a financial plan with someone. But under underneath all of it it's almost like the road that they're driving on as their their personal values, right, and it's that aspect that makes you and your firm and what you do a vastly different than everybody else, because you're not talking strategies and tactics up front. Those come later, but you really have to understand people and what makes them tick and what are their personal values, because I'm sure if you have twenty clients, you've got twenty clients and twenty different personal values...

...at some level. Yes, you definitely do. You know, they all need fuel, right, they're all they all need money. That's why they're talking with you, because you're the expert in money management and all of that. But without the personal values you're not going to be able to help them understand their goals, where they want to go, where they are and have they really you mentioned something that was really cool. Have they put the money behind it? Is the way I phrased it right. We all have dreams and goals and aspirations, but we don't put a time frame on it and then we don't start systematically putting money aside to achieve that goal, and then we reach a point where, like you know, that never came to happen. Well, why not? Because it didn't systematically put money behind. And that's part of what you help people do through your process, right, is, is not just say well, this is what I want, but why do you want it? What's the plan, what's the time frame and how much is it going to take on a regular basis of investing to get you to that goal, whether that's retirement or inheritance for your kids or whatever it is? Right? Yeah, that's right, and I what I have found...

...is that there's if somebody asked me, what's your one word that could sum up kind of everything that you're about, and that word for me is consistency. So having a system and a road map that you consistently follow over time that will get you to your destination. You'll have to adjust and adapt along the way because, again, the markets are complex, adaptive system and your life is complex and men have to adapt to that as well. But as long as you keep the destination and why you're going there in mind and you're consistent about it, you'll get there right. Well, every vacation that I've ever taken has had detours along the way and accidents that made me go different directions are slowed me down, but we kept our eyes on that goal right and you may go through Albuquerque when you weren't expecting to, but you can don't get to La right right exactly. That's good and that's very much just like our financial world and our plans. Is Understanding our values, our dreams,...

...our destination and why we want to get there. That will help us through up, up turns, down turns and sideways. Turns out that life brings us to the financial markets bring us, but it's always that consistency of this is what we're doing. Going back to the what the old rabbit and hair story, it's that consistency of the turtle that caused him to win the race, and I think that's the same in a financial planning and wealth management is we get unfortunately, we get bored with it right or something happens and we want to make a change, and then usually those change ages our walk can cause us to go backwards if we're not proactive in making those changes. But, like you said, there's always changes that are happening, but they need to be focused on the goal and things, and that's why having somebody like you, John Is, is really important in our life, more than just a financial manager, more than a wealth manager, but an expert in it. You spent thirty years on Wall Street. You're you really kind of a coach, a mentor to people, to say to ask the right questions,...

...and I know through my life when people have asked me good questions, I've been able to produce answers that have really helped them help me. And that's what you're really all about as you work with people, is helping them understand their their personal values, and that's why your book, build a life, not a portfolio, is really such a great read at a great resource for people. Highly recommend they get a copy either on Amazon or go to your website and request to copy at the contact us form. It's a guide to your financial future based on your personal values, and that's really important. To sit down and talk with John and just see where where you are, where you want to go and how could he help you get there, because building your financial future is a big deal. It's something we all need to do. And if you don't want to wead through all the details of those fine prints, John Likes to do that, so let him do that and bring some strategies to the table and have conversations. And that's the other thing...

I love about you, John, and you're not high pressure at all. You've been around the block a few times and you are just happy to talk with people and help them and clarify for them and help them clarify their values and how can you add some fuel to their financial vehicle to get them where they want to go. So thanks, John, for helping US understand a little bit about finding values, finding our values. How you help clients walk through a process to get to their values and to understand why they are chasing what they're chasing, and then you can help them build a financial portfolio to support that. And I think that's so critical that we build our financial world to support our values in life. So, John, thanks again for being with us. We're going to leave leave our listeners to day with your one word, and that's consistency. And I want to encourage our listeners to consistently come back here and listen to this podcast on a regular basis and consistently work with John and his team so that you can build a portfolio that supports your...

...values. Thanks John. Have a great day, sir. All right, thanks a lot. So thanks for listening to the building your life podcast with John Browning. Be Sure to subscribe to this podcast so each new episode will be sent to you automatically when it is released. Have a terrific day.

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