How do I create my own personal paycheck protection program?

ABOUT THIS EPISODE

How would you like to have a paycheck for the rest of your life? Financial planning expert John Browning explains how you can create your own paycheck protection program. Reach out to John at GuardianRockWealth.com. Grab a copy of John's Free Report 8 Common Misunderstandinga About Retirement and How to Understand them Better. Go to the Contact Us section and as for this Report.  

Welcome to the build your life podcast with John Browning. Build your life as a relaxed and unedited conversation with financial expert in number one Amazon bestselling author, John Browning Jones the founder of Guardian rock wealth and serves clients across the United States. John's the author of the book build a life, not a portfolio, a guide to your financial future based on your personal values, which you can purchase on Amazon, or stay around to the end of today show and I'll tell you how to get a free copy mailed right to your door. I'm Michael The lawn, your host for the next few minutes as we chat with financial expert and business owner John Browning. Well, hello, John Browning. How is your day going, sir? It is going fantastic. We are getting a lot of stuff done today. A lot of people are asking lots of questions as we come up on starting to play in the second half of the year. So it's been nice. Been Goot. I like being productive. Yeah, amen on that. Hey, that's that's a good thing. People asking questions. I've got some questions for you today. So I was thinking the other day. So the Morail, I we just came past my moral day and as I was driving around town on Memorial Day, John, it occurred to me back in like, Oh, I don't know, one thousand nine hundred and eighty two, my brother and I were on our motorcycles driving up to the lake where my grandma grappa lived, right, and that's where I got my first speeding ticket and I did a bad memory, but the good memory was being at the lake was my Grandpa, and GRANDPA was a he was a retired state trooper, okay, and that didn't help me get out of that ticket, by the way, but he was a retired state trooper. He was retired for a long time and when I was talking to him or my dad about that one time or something, they were talking about a pension and I was asking them what a pension was and they said, well, it's easy, without getting too complex, as a paycheck for life, and I said, well, that's really cool. Well, he'd work there for a long time, right. I don't know many people today who have pensions, John. So my question to use is there any...

...way that I, being an entrepreneur and a business owner, or just anybody else, is there any way we can get a pension? You know, the only way to do it is to make one yourself. Okay, I got a computer and a printer and I just may coming'. Is that what you mean? It's a little bit more complex than that, but right now I'm all Ayers, man, but you can't make one and and people pretend to forget that, that these people who ran the pensions and who still do run the the old pensions. I don't know. I'm sure there are few, like the teachers still have one. There's a few, yeah, places out there that have them. And if you have one, just hang on to it, make sure that you are paying attention and do everything they say to do in order to get it, because it is truly one of those, you know, gems of yester year that most people don't have anymore. Right. Well, I mean it's a it's a paycheck, right, that arrives every month, just a social security in a sense, right sourcecurity check ribs every month. A pinchion adds to that every month and it's kind of guaranteed for life or something like that. Right, exactly, exactly, and is very similar social security and accept a sponsored by the company and the you know, you know, they also have the issues that the government does, whether it's funded or not funded, but generally speaking it's that steady paycheck that keeps coming. So if you don't have that, if you're my age or frankly your age right, we don't have that. So we have to make our own and just for funds, since we just kind of got done with this, what we titled that, and it's a lot of what we do, is creating your personal paycheck protection program. Yeah, love it, because it really when you think about it, we've worked for forty years or fifty years before we get to retirement, and we've had what a check every week...

...or twice a month or whatever. It just it comes because we work. You retire, you stopped working, the paycheck stops and now you have this Big Nest Dag of money. But you're what you're saying today is you can create your own personal paycheck protection program. That's right, and getting started on that, by the way, getting started on that now also protects you from maybe a layoff or say, a pandemic that means that you don't get a paycheck for a little while. It's that same paycheck protection program that we're thinking of more for retirement. Can protect you and unforeseen events like that. Okay, so let's talk nuts and nuts in bolts and nitty griddies, and I mean elaborate a little bit about how would somebody even start this? What's it look like, besides calling John Browning and having him discuss up with you? Right, but I mean at a big level. What is this? How does a normal person like me create a personal paycheck protection program? Well, you know, I hear all the time all the reasons why you don't do it right or either reason. What reasons are there? Well, it's too hard, I don't have the month ends before you know. You know my money runs out out before the end of the month. Is that it right? You hear that all the time. And and so part of it is number one, just like any type of planning, when you get out your road map, the most important thing is to know where you are. You got to know where you are before you can figure out where you're going to go. Second most important thing is where do I need to go? And most people kind of have an idea where they are now, a general idea, right. But you what we're finding is that there's a statistic out there, and I've seen the study. They fairly extensive study all over the United States about Americans and only seventy five percent, or rather the upsite that. So seventy five percent of Americans do not have any type of financial plan. And you and I, because we do plan, and that's kind of what...

I do, find that fascinating. I eat and sad seventy five percent do not have any kind of financial plan. Wow, and eighty percent of him. In the same study, eighty percent all Americans actually don't think they're going to be able to survive, even if so, even if they have a plan, they're afraid of not being able to survive. And why? You start thinking about that just for a minute. I want everybody on this podcast to think for a minute. Mine next fifty paychecks are not coming. What do I do? How do I survive? How do I like groceries? I mean before or after I panic pretty it strikes panic and and a lot of times what people do is, if they start to get there, we try and avoid pain. So as soon as we start thinking about a paychecks gone and not like that, but I'm not getting another one, they start to panic, they see pain, they shut it down and they don't plan, which is of course, exacerbates the problem. Yeah, so that's that's kind of the start. That's where you start. You have to get into the mindset. You know, mindsets one of those things that's so important, but very few people pay it any mind. Yeah, there you go here. That's my plan for the day. As I guess. That's very honey. That's very funny. No, that's interesting because, yeah, you you don't really think about it, but yeah, you've got a paycheck every every month, let's say. Let's say you get paid once a month, I don't know, every month for thirty years or forty years, you retire and it's done. They don't send you paychecks anymore. No, I could see how that would strike fear in somebody's head, you know, at that point. But let's back it up. In your thirty five or forty five, how are you planning for that? Does your I guess the question to ask if you're a listener it, does your company, have a pension plan?...

And if it doesn't, reach out to John, because that's crazy. You're going to you're going to need to create your own, because social security is is not going to do it for you. Say It's say that you believe that. So security is going to be there for you in some former fashion. There are a number of things that are likely to happen and we've seen them happen already. So Security Administration keeps pushing out that age a little bit further, the time in which you can draw it. Yeah, and then eventually is there's something that replaces it, and what would that look like? And even if you get it now, I can put you in touch with any number of people who are on social security now that will tell you you cannot live comfortable. You can't, you can't build your best life that you want. Well, he can. Case in point, and I don't know why we're having this conversation today, John, but over the weekend I went to the well SSA dot go, SOC scarity ministration dot Gov, and I got my report, and anybody can do this, and I looked at the number that I should get from source security when I'm I think, sixty five or whatever, and they give you two or three numbers. But yeah, you can't live on it. I mean it's nice supplemental but it is not going to provide a lifestyle. So it's there, but I think too many people think, well, I'm just going to live on start security. No, you're not. No, no, not well, not well, I am not well, but it's that's part of the planning that we do. Is just look at that number every year ago. Okay, that's a portion of my retirement plan. That what's the other portion? Well, hopefully I've got a personal paycheck protection plan, right, and then I've got some savings and then I've got some investments and not you whatever, but it's that whole building my life and building a portfolio that supports the life, which is exactly what you wrote about in your Amazon best selling book. But that's what you help people do, is think through all these things, because you're right down it is. It's hard work and and it's not fun for most of us.

I know you get giddy and you like my stuff, which phrase God. You know. That's why people should just call you and say, John, what do I do, and you could create a plan for them based on their unique situation. Go here's an option. Let's talk about but before we talk about all that, let's talk about you and your family and your dreams and desires in your life and what do you want, because that's really what it's all about, right, and why you want it. That's that's right, and really thinking through those things and then you do get into the nitty gritty, right, and that's what I'm really there for, because most people is that not what they think about most of the day and most of the time. But you know that whole where do you want to go? I mean, if somebody wants to take just sort of back at the envelope and wants to scare themselves, take what you're making now, take your paycheck, take a look at it and you still have to pay taxes on your capital gains, but you don't have to pay like Medicare, so security, unemployment tax, you don't fail, so we can take those out. That's the good news. Bad News is you now have to pay all of your healthcare and your healthcare is likely to have gone up. You're likely to, frankly, have more time on your hands, in which case, what are you going to do and how expensive is that going to be? Those are some of the things you need to think about when you think about what am I going to need per month or every two weeks or whatever? And then, wow, what do you do? How do you? How do you so you have these savings you've got. Maybe you're making, you know, half a percent in your bank account, which is not even keeping up with the inflation cost by a long shot. So how do I get a paycheck on that? Is it? Is it bonds? Well, no, not really, not now, because fixed income is just not paying. What it used to do. Is it did it in paying stocks, while I don't...

...know, they paid, most of the time they paid quarterly, so not every not twice a month, like your paycheck did. And you know. So how do I do this? And that's what I do. That's what we do here at Guardian Rock, and we actually wrote a white paper, by the way, that you can get if you go to our website, at website Guardian rockwealthcom, and it's called eight common misunderstandings about retirement and how to understand them better. Okay, brand new, and it's just things that people don't think about because they're not doing what I do every day. Right, and then it gives a little stimpet about how you might understand that better and plan for that better. And of course you can always call us and more happy to walk you through it. All right, your free report a common misunderstandings about retirement and how to understand them better. That's free at Guardian rockwealthcom. Is that on the front page or do they have to go see? Actually, they need to go to the contact us section and just right in there what you're looking for. You're looking for your rea. You know our retirement white paper and we're happy to send that out to you for your charge. Doesn't cost anything for this. I'm going to call it a report. HMM, and that's for this. I'm putting that in show notes, by the way, so if you missed all it's in the show notes. But Guardian Rock wealthcom the contact US section and ask John for that. Eight common misunderstandings about retirement report. That's very cool, John, and I bet if they ask you'd give him a copy of your Amazon best selling book too. Absolutely that's a fun read to but it's it's there's so much here and I love the idea of the topic of pre personal paycheck protection plan. How do you create your own paychecks throughout your retirement when the company's done paying you because you retired, you're not on their payroll anymore. You're on your own and John and Guardian rock wealth can help you figure that out. And and take into consideration the things you talked about, John, the health care costs...

...and different things, because everybody thinks in retirement my expenses go down. That's not always the case, and so John can help you just think through some of those things and plan, because that's really big deal, is just planning and making sure that when those that day arrived, are those specific days arrived, how are you going to handle those so that you are not a burden to your family, so that you've got the money that you need to stay alive and healthy and enjoy it? Enjoy life and build a life, not just a portfolio. Maybe a great title of the book with it, though. So that's that's the thought of John's Amazon best selling book, build a life, not a portfolio. And when you reach out to John at Guardian rock wealth, you can get a copy of his new report a common misunderstandings about retirement and how to understand them better. You can get a copy of his book and you can just have a conversation with him, and I think John, that's that's probably the best thing to do, is just have a conversation through zoom or a phone call or in person and just talk about your situation and where you are. Don't wait, don't wait until you get the gold watch to say I need to start planning for retirement. That's a little late. It little bit late. Yeah, it's a little late. You so do it, but it's a little late. But reach out to John and ask him about how to create your personal paycheck protection plan. That's really cool. It's hard to say, but it's all right. We will. We will leave it there and encourage people to reach out to you, John at Guardian Rock wealthcom, and we will look forward to talking with you next time. Sounds good. We'll see you next time. Money really is a big part of our lives, and John Browning can help you and your family learn how to keep money in the proper perspective. It's important, but it's only a tool that can help you build the life that you want. If you like, John Emilie a free copy of his book build a life, not a portfolio. Go to John's website, Guardian Rock wealthcom, and click the contact to US link and send your request. John Will Mell a copy of his book right to your door absolutely free. Thanks for listening to 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's released. Have a terrific day.

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