Paycheck Protection Program

ABOUT THIS EPISODE

Listen to learn how you can design your own Paycheck Protection Plan so that you can be fully prepared in case of an emergency or unforeseen disaster? John explains how to create this for yourself and why you need to start today.  

Welcome to the build your life podcastwith John Browning. Build your life as a relaxed and unedited conversation with financialexpert in number one Amazon bestselling author, John Browning Jones, the founder ofGuardian Rock Wealth and serves clients across the United States. John's the author ofthe book build a life, not a portfolio, a guide to your financialfuture based on your personal values, which you can purchase on Amazon, orstay around to the end of today's show and I'll tell you how to geta free copy mailed right to your door. I'm Michael to lawn, your hostfor the next few minutes as we chat with financial expert and business ownerJohn Browning. Well, John Browning, welcome back to your podcast. Howare you today, sir? I'm doing well, doing good. How aboutyou? You know I'm well, things are good and I just I lovespring. I've been saying down on my...

...back deck. It's just great andit's a phenomenal day. So and I get to talk to you today andlearn something, because I always learned something fucking so today I want to talkabout some I want to talk about protection. Okay, so my daughters, greator Needia. They should found down and scrape your name. We hadbut bandaids on her to protect her knee while it healed. Right. Whatthe what? What? How do you help people as we plan for retirementwith specific as were my head is, how do you help them protect thatpaycheck that they've gotten for the last thirty years or forty years, right whenyou retire, that that company stops paying your paycheck? That's right. Howdo you protect that? I guess the income is where I'm going right.MMM, how do you do that? Well, you know, it's somethingwe talked about a lock. We call it our paycheck protection program that youdesign rather than the government. Yeah, and we actually we think about itin terms of retirement, but we actually...

...talk to people about well, whatif the unexpected happens? What if there's a worldwide virus that sweeps through andyou lose your job and the government doesn't have a paycheck protection program? Andhow do you prepare for that, as well as preparing for the PAYCHECK,personal paycheck protection program in retirement? And the answers really the same, becauseyou're using those that same portfolio that you're using to build your life and tobuild your personal paycheck protection program to do both of those things, but youalso want to keep in mind that unexpected things happen. It's very rare thesedays that you work at the same company and get a pension at the endof thirty or forty years plush your gold watch. That just doesn't happen anymore. Right, something happens along the way...

...and it's generally you don't expect it. I just I just talking. You get an apple watch now instead ofa gold watch. But Oh yeah, that's right. Nobody looks joy myage. That's right. I don't know. Yeah, most people hop around twodifferent jobs all the time. So yeah, that probably doesn't happen.And pensions rarely have a school teachers maybe, but outside of that, not many. Not many, if you have one, hold on to that thingfor all its work. Yeah, yes, because they're unbelievable. So talk tous about protecting that. I mean, how do you create a personal pensionplan or a personal pension protection plane? How did how do you do that? Well, you know my one word, because I've talked about itbefore, and that is consistency. Yes, my one word. If you haveto, if you pinned me to the wall and say come up withyour one most important word word in the world, I would say consistency,and that's how you do it. You consistently plan, you consistently execute onthe plan. You do it every day,...

...you do it every week, youdo it every month. So that's number one. And I hear allthe time that's impossible. I can't save that much money. There's no suchthing as fixed income anymore. And you know what, fuck up, buttercup, get to work. You can do it. That's right. As Itell my kids, can't, never could do anything and they if they listento this podcast, they're going to roll their eyes. So, because Isay that all the time, I love it. So step number one,set up your budget. Got It. Even than that. Very few peopleactually have a budget. You know, I've got it in my head.Yeah, now you know, mark set up that budget. So I knowthis is a whole you know, podcasting it up up how to set upa budget actually be too long even for...

...that, but that could be awhite paper right, and there's lots of budgeting systems out there. There's freestuff on the Internet. You can do this. So you can absolutely doit if you if you don't feel like it and you feel like having somecoaching. That's why you give me a call, and that's something. Somethingelse that we do is will help you with that budget. That's that's numberone. And if you just want to quick back of the envelope because you'reimpatient, you never read the directions when you get the kids toy right beforeChristmas and you try and put things together yourself, this is what you do. You sit down, you take your paycheck that you're getting right now andyou, assuming that you're living on your pay check and you're not living paycheckto paycheck, you take what your netting on that, you add back endhealthcare costs that an other company sponsored, things that are on there, andthen you add back in the income tax...

...portion on that. Not The payrolltax, not so security tax, not not that stuff, but but youadd back in the income tax. And that's a general, general rule ofthumb. And if I always get well, why, when I had back intaxes, that's going to make it harder to meet. Well, guesswhat. The government takes their cut, whether you're getting paid by from yourselfor whether you're getting paid by a company, and whether that's capital gains tax orif it's you know, you know, tax on interest or tax on qualifieddividend or unculled tied unqualified dividends or all sorts of things that go intoit when you're living off your own personal paycheck protection program and that's something wecan we can explain and help you with if you want to give us acall. But that's a general rule of thumb of where to start. Sonow we've got your baseline. What is it that I'm aiming for? Sowhat's what's the end goal on my road map? It's my destination. You'vegot that now. So next you want...

...to understand that in inflation is avery real thing. So remember that. We all look forward to, eventhough some of us don't always get it, that cost of living wage increase.That feels really good, but it's there for a reason, because inflationis real. It happens. Ask anyone who was around during the say,the S S, even well, yeah, even some of the s right.There was definitely inflation and we haven't seen it for a while, butit's I'm afraid it's going to come back with a vengeance here and a fewyears from now, but we'll see. That's a that's a WHO knows.Maybe I'm maybe I'm wrong, but but it's never wrong to plan for it. Should it happen or not, you've got a good plan in place.That's right. That's right, and it has throughout history. It's happened.It's always happened and it's tended to happen...

...when a lot of money gets pushedinto the system all at once, after World War Two and several other differentthing after the new deal, all of that that is triggered inflation. Youthink about what we're going through right now, possibly after the pandemic, when we'vehad three stimulus checks. MMM, right. Doesn't mean it's good happen. Doesn't mean it's going to happen this year, but think you need tothink, okay, I'm planning. What how can I plan in case thatdoes happen? What's my plan be? In a sense, right in insertsthere, and that's what John that's what you help people with, because Ican't think that I don't you know what a plan I would be, letalone plan be. That's right, but that it's having that mentality and havingthe plan so that you're not scared, I guess, or anxious when youhear that Oh, the inflation index went up ten percent or whatever it does. Right, right, I'm okay because...

...if I get panicky I'd called Johnand then he talks me off the cliff and we adjust your portfolil right tobetter match you're your personal risk parameters, which is kind of the next step. It is you discover, you talk about with somebody independent third party.Is Very important here, is to talk about what your risk parameters really are, and we have questionnaires that help get to that. But nothing is betterthan giving very specific real life examples and watching the other person's face when youtalker start taring. What if this was your situation? Yeah, and yougive him a real world situation. You had a hundred thousand dollars at thebeginning of March, two thousand and twenty, or, say, being in February. Say Yeah, you know, February two thousand and twenty, andthat turned into, say, seven thousand dollars by the end of March.How do you feel exactly? People kind...

...of choked. Yeah, right.So you know, that's another way in an independent third party, because it'seasy to look things said, oh, I would have doubted not a problembecause it's two thousand and twenty nine sight, but how you really feel as completelydifferent. So you need that independent third party talk the talk you throughthat. Yeah, and that's an important part of how to create this personalpaycheck protection program because you don't want to get out of balance, which we'vealso talked about, and then up taking more risk than you should for yourown psychological wellbeing, because that's I've seen that happening and it's just no fun. Losing sleep is not part of your life' skulls and plans now. Sothat's why John and a Guardian Rock with you. Guys help people build alife, not just the portfoliocause you've got a portfolio that's out of balance,out of whack and you're not sleeping at night, something needs to change right. So you help people figure out what...

...their goals are, figure out whattheir lifestyle is, rebalanced portfolios and put things in place so they can livea life. They don't have to be anxious because they've got the right balance. They've thought through the well, you thought through all these things and you'reasking the right questions to help them have the type of portfolio that they theywant, and that's different for every one of your clients. Right, itreally is. That's right, and that's why we do this podcast, toencourage people to reach out and call you. To go it's yeah, it's toocomplex to do over a podcast. Sit Down and talk with John,have a zoom call, get a copy of his book and talk about thesethings in asking questions about how do I create my own paycheck protection plan,how do I mitigate debt risks? How do I all these things? Andthen I'm sure he has about twenty questions he lash you as well, mostof which you've never thought of if you're like me, and that's good becauseit's those thinking exercises and understanding who you...

...are that makes all the difference inthe world. So, Guardian rockwealthcom John Browning as for a copy of hisnumber one Amazon best selling book and let him help you build a life,not just a portfolio. John, thanks for helping us understand there are waysto have a paycheck protection program in place when you do it properly. Sohope somebody reaches out and talk to you and has that conversation, because that'sa really, really cool thing to have as you're planning your investment portfolio andyour retirement to know that you're going to have income that's protected. bellieve itor not, it actually can be fun. I'm bet yeah, will it?I'm sure it is. You know, it's kind of like putting a bandaidon a on a scratch. It feels better and I'm sure it feelsbetter to happen to know that you have a paycheck protection plan. So reachout to John. John, thank you so much for another great episode.I appreciate it. Always enjoy talking with you. Sir, I always enjoytalking with you as well, and thanks...

...for helping me out. All right, take every buddy. All right, we'll see you. Money really isa big part of our lives, and John Browning can help you and yourfamily learn how to keep money in the proper perspective. It's important, butit'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 rockwealthcom, and clickthe contact to US link and send your request. John Will Mell a copyof his book right to your door absolutely free. Thanks for listening to buildingyour life podcast with John Browning. Be Sure to subscribe to this podcast soeach new episode will be sent to you automatically when it's released. Have aterrific day.

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