Episode 5: What is the Snowflake Theory?

ABOUT THIS EPISODE

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

Just like we all have our own unique fingerprint, we all have our own points of view when it comes to what we want out of our retirement. That's why we all have different goals. Understanding this is crucial for a financial expert to understand. Learn more on today's episode!

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

 

Welcome to the building your life podcastwith John Browning. Building your life is a relaxed and unedited conversation with financialexpert John Browning. Well, Good Morning John. How are you doing today? Doing greed? How much self? You know, couldn't be better.It's really good. I remembered asking that question some guy and he's like,I'm now he was. We were talking about busy asaid, you know,he's always I'm busy, I'm busier than a one legged pogo stick guy,and I'm like, that's interesting. Never heard that one before. Right,we're all busy, but love, love what you do, and it's funnythat as you do what you love doing, time goes by faster and you justget motivated. And I know, John, you love what you doin helping people build a life and not just a portfolio. Right, that'sright. Now you you live up in the Chicago area of the world andIllinois and you have dealt with some snow in your life. Yes, Ihave quite a bit more than I care to admit. There you go,there you go. Well, in your...

...book, John, you talk aboutthe snowflake theory and my question to you is, what in the world areyou talking about with the snowflake theory. Well, the snowflake theory is sortof much like every every one of us has a different fingerprints, right.We also are are very different in that every snowflake is different. So everyperson is different and there are a myriad of reasons for that. And ifwe look at any two investors, they comment things from different perspectives, includingwhen we speak to spouses, significant others, and we find very different points ofview and those points of view have been formed from, frankly, thevery beginning, from maybe it's elementary school or wherever it was, and uncoveringsort of why you feel the way you feel can be a really interesting process. But because of those differences, we...

...all view investing and building a portfolioand building a life and building out our goals and very different ways, andunderstanding those differences and the why behind them becomes very important to building a lifeand then building the portfolio to support that life as well. So one ofthe things that I did a lot of, especially when I was younger, buteven even now I enjoy it, is photography, and that was thatwas back. This gives away my age a little bit, but you hadto like actually had film, you had low the film. Yeah, ejectedpat to put the film in the camera. You had to then then you hadto roll it up and you had to send it away wait for itto be developed. I mean this sounds crazy today, right. Remember that? I remember the little KODEC drive through places. I'm parking about that.You have to go to an hand them your thing and yeah, week lateryou come back. That's wow, what a memory. And you never knewhow it was going to really turn out.

You thought everything right, but thenthe exposure could be completely off, yes, or but one of thethings I learned, is is when I was really learning about photography and reallygot into it, is that you can take a picture of a very ordinarything and the way you take that picture, how the exposure is set, thatangle you take it, from the background that it has, can resultin a very different picture. And again that goes back to our different perspectivesin the snowflake theory, the idea that we're all very different and how weperceive the world and thus how we want our lives to turn out. Andmy job is first getting clarity on how you want your life to turn outand what those goals are. But then my job, and frankly, maybea little bit of the easier portion of it, is to arrange your portfolioin a way that accomplishes that object active, in a way that you're going tolike and enjoy and can handle interesting.

Okay, so the snowflake theory I'mgoing to I'm going to relate it to basic personality types. In asense, we all will have a unique personality, bent and make up,just like a snowflake, which really leads to the next question I have foryou, John, is is do some types of snowflakes, some types ofyour clients? Not that you're calling them flakes, we don't do that,but they have they have different personalities. Do do some of them bring tothe table some some different thoughts and perspectives of well, you know, Ican do it myself because that's the type of Snowflake I am. Other othersmight not be that and they really look for your council. How does that, how does that play out as you meet with different people in different snowflakeaspects, different snowflake aspects? I like that. Yeah, well, thereis a pervasive theory out there. That really started, it will started probablyten, fifteen years ago, the the...

...idea that, hey, you cando this yourself. And you know what, that that's very true. I actuallyI mentioned that in my book. If, if that's what you wantto do with with your most valuable resource, which is time, something that youcan't make more of, and you don't know exactly how much you have, really enjoy this, then you should. Absolutely, we should do it ifit's something that you really really enjoy. But consider, I encourage people toconsider, the fact that this market place that we are in, firstof all, over the past fifty years or so, it's turned into aglobal marketplace. HMM. So you literally have seven over seven billion people allmaking frankly, fairly emotional decisions. We talked about that in the book aswell, that are all feeding into this massive, complex, adaptive system,and the idea that you can read enough and keep up with and understand everythingthat you need to know in order to manage your finances would that would arguablytake all of that time that you have...

...plus a few more lifetimes, right. And and so that's why we use a team. We've got we've gotour own team that works with Guardian Rockwealth and with me and on top ofthat we have an extended team from thirty years on working on Wall Street connectionsout there that can feed us information, and not just all the information thatyou get from from the new sources, but pertinent information that's really impacting people'slives and portfolios and the economy right now, and we can filter out the noisebecause we've done this for thirty years and we've been we like what wedo. So I would tend to disagree you that it's something that an individual, no, even if you do enjoy doing it, should attempt to doon their own. But there might be differing levels of assistance that you mightwant to get hang and you're taking a look at it. Well, andthat's good and that's a great question that I'll just throw it at you.mean an unscripted conversation. This was not on the question, but different levelsof service to somebody when they work with...

...you, John, do they haveto take it from a to Zee, the whole package, or is itsomething that it's like, you know, John, I've already got, let'ssay, I've already got my life interns taken care of because I work fora corporation and they've got my life interns or whatever, and I'm putting moneyinto a four hundred three one or whatever. But can they come to you andsay, I think there are some holes in my bucket, John,that I might need some help with? I don't I don't want you todo everything. I like doing these other things. Or how does that work? Yeah, absolutely, we'll do whatever the client, you know, needsand whatever they think they want. And of course there's different price points forfor those type of things. We do encourage folks if they're going to create, if they'd like us to. We have some folks I just want youto help me with the plan and and run it through your systems and doall the populations and I just want the plane and and that's fine. Wecan. We can do that for them and we can talk to them andget an idea of, you know, their why and their goals and helpthem set those things and will spend spend...

...the time and we'll charge the curveaccordingly for that. But we do encourage people. That unfortunately tends to happenis that people have the plan and then life happens. And those for allof us and this is our full time job and we are absolutely dedicated toour clients that are with us full time and and ask delegate that responsibility outto us. It's just what we do all day long, every single day. And what happens when people just get the plan is we tend to seethat they come back and they say we we ask them, well, howdid the plan work out? Makes it well, we've never actually executed didit right the plan, or we only executed part of it, or weare we executed in month one. We set up our investments in this way, but it's along the way it's gotten completely out of whack. Right andand you know, a big part of what we do is the rebalancing andkeeping things in check and that's a huge...

...part of successful portfolio management and investingis again adjusting along play it is. It is a investing is definitely nota hands off adventure. You need to have your hands on it and routinelybe looking at things. So well, good. Thanks for asking that outof the ballpark question as we start this episode talking about the snowflake. Verydifferent types of investors and why really, as we're winding up here, whyhow you work with people differently and why it's really important to have an experiencedfinancial advisor that you can lean into and somebody who does this all day,every day, and who's going who's really got your your best interest at heart, because they know sure you're why, they know what your goals are,and John and his team will help you identify your goals and work through aprocess to make sure that you are are really building a life, not justa portfolio. That's the title of John's book and I know he'll give youa free copy if you go to his website. And John, I appreciatethe council that you're giving today. This is great co coming up on afuture episode we're going to talk about some...

...action steps that people can take increating a life and a portfolio at the same time. So thanks for beingwith us. John. Thanks for you you're always great counsel and wisdom whenit comes around not just financial advising and financial planning, but living a lifethat that is really meaningful and purposeful. As we're running towards retirements with thanksfor doing that, man, sure thanks. So thanks for listening to the buildingyour life podcast with John Browning. Be Sure to subscribe to this podcastso each new episode will be sent to you automatically when it is released.Have a terrific day.

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