The Best Decision I Never Made

ABOUT THIS EPISODE

On today's episode, Financial expert and Amazon best-selling author John Browning talks about how to NOT get upside down by purchasing more home than you can afford. Banking on the future raises is not always the best decision. Learn more when you Connect with John by texting "LIFE" to 21000 or GuardianRockWealth.com.

Welcome to the build your life podcast with John Browning. Build your life as a relaxed and unedited conversation with financial expert and number one Amazon best selling 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's 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. John Browning, welcome to another fantastic episode of your podcast. How are you today, sir? I am be leavable. Love it. Mean I've used that phrase for a long time and people go they stopped in their life. Is that good or...

...bad? I'm like you figure it out. So I love it. I love it. Speaking of unbelievable now, we just booked a vacation down the Gulf shores, like in another month or so, and I love going to the beach most of the I mean for most of the part of the beach I love, all right. So the things I don't love anymore now that I'm older and I've got kids in things, is when those those girls combining those really skimpy bikini things. You know, that's that's not good. And so I always have a book in bouncing my eyes and all that stuff, and I wish they would just cover themselves. But we're not here to talk about Bikini's, but we are. Well, in a sence, we're talking about skimpy bikinis. Another UNMENTIONABLES and other UNMENTIONABLES. Yeah, other UNMENTIONABLES, because we talked last time about the best decision you never made and we were we were starting to talk about leveraging yourself, over leveraging yourself, maybe buying a too big of a house or something and getting just strapped with cash and and that causes a lot of other anxieties, but it also causes you to...

...skimp on other areas of life that are really important, that are well, they're unmentionable, they're taboo topics that people don't want to talk about because, well, I'm I'm skimping on that kind of like you and Christine first year, your marriage. You skimped on food, right, you live on rubmen noodles. You had a purpose around that. Let's talk about skimpy bikinis and other unmagtionable let's talk about things people skimp on when we are over leverage, with with maybe a house or car or whatever it is, or college debt, and we're not able to do some things that are really important. Let's talk about those really important things that people skimp on when they're leveraged. Well, it's like, you know, things that people shouldn't skimp on. You know, I don't think some of these young girls should skimp so much on their bikinis either. You know, once they have daughters, you kind of you kind of have a whole different view on that, but maybe when you were, you know, a teenager yourself. But yeah, it's anyway.

We'll get away from that because I'll get myself in all kinds of trouble with my wife, Christine. That's right, that's I. But what that unmentionable thing is? Nobody wants to talk about it. We actually did a podcast episode, episode number one, hundred and six, and we had Bruce Weinstein on that episode. We talked about insurance and we talked about. Nobody wants to talk about but yeah, when it was to talk about this unmentionable. But what's one of the first things that we tend to skimp on when it comes to and you don't quite have enough money? You know, it's it's probably not the Netflix or the Disney Plosser, whichever one that you like to do, but it's probably one of the things that I know I've looked at as like my car insurance. Well, way second, if I adjust the coverage down a little bit here, it's a little bit less every single month and while you do that, you know, times twelve and that's that's all. That's a lot of money. Yes, and one of the problems that...

...we have down on the East Coast, Florida, more so than say when I lived in Chicago, because in good Chicago you can't drive these things but about three or four months out of year, but you'll see Lamborghini's Frari. So here's the thing. I might be in my you name the car, my camery or whatever it is. I have a Honda Civic, so I might be my little Honda Civic and I might be pretty happy with my chief, really chief insurance but suddenly I run into him and Claren. Yeah, you know, I want none of us are perfect. And you know, Florida's an no fault state. Suddenly I'm past my maximum on my car insurance and they're coming after me personally and I've skimped on my insurance. Yeah, it's happened, right, or maybe or maybe it's your life insurance. Now a lot of people, like I, don't want to pay for life insurance. You know, my kids don't need that much money. Or let's go...

...down a little bit lower, a little bit low, little bit lower, because nobody likes to think about the idea that we just don't know if tomorrow's guarantee it's right. So you skimp on the life insurance. And with covid nineteen, unfortunately, we kind of found out that life is really not guaranteed for that next day. Doesn't kind of matter how old you might be. Yeah, and you know if you've been in a car accident or or, like myself, I've been in a motorcycle accident, and I mean a few inches to the right, few inches the left, a minute. That's right for me. I'm in a better place. I know where I'm going. It's right. I know Christ I know I'm going to have it. I mean, but what about my wife and my kids? I'm leaving them with no casual so, number one, if I have a lot of that, that that than they have to. They have forgot. How they going to...

...pay that off. Number two, if they've been depending on me for my cash flow and what I'm bring in when I go to work, and maybe maybe my wife works, but we're using both of our salaries, well, what happens then? Yeah, that's right. These are the things that we tend to skimp on in order to buy that bigger house, for the bigger boat or the nicer car or whatever it is, which which really it doesn't make sense, because you buy the bigger car or the bigger house or the boat wider, let's a house, and now use the bread winner. You get taken out with a disability or you get taken out totally, you're just going to have to sell that house. Right. All of that because you've skimped on insurance, whereas if you had the right type of life insurance, if you get taken out, then the life interns could pay the house off, because it's really not life interns for you. It is family protection for your family. If you get taken out, how are you going to replace yourself and keep them at that same standard to live in? Wonder people don't think about it that way. They just look at the cost. Well, okay, it cost a whole lot more when you're gone in your widow is...

...sitting there going how am I going to do this? Not Always, not only is your widow or your widow were or whatever, your kids upset that you're gone and they have to deal with that and that grief of missing a loved one, they also have that overwhelming fear of how am I going to be able to pay for the mortgage? How am I going to be able to pay for whatever it might be, something, maybe even food. Well, it is. Yeah, and and I mean I know I know some ladies that. I mean they are in there, you know, early S. they've been raising kids for the last ten, fifteen years. Their husband dies and now they're not really ready to go back into the workforce because they've been a stay at home mom and they're like lock and they'll get a in. It just it adds so much more stress because they chose to skimp on insurance in order to live a lifestyle that was kind of probably outside of there. There means possibly, but it's decisions like this that unfortunate. Maytimes we...

...make these in isolation, whereas having somebody like you, John, a financial advisor who's in our corner, that we can talk to say okay, John, here's what we're thinking, what do you think? And then you just get to chime in and it's my decision, but I need counselors like you. Right, is is that? That's part of what you do when you help people. Right, it's exactly. I mean we talk a lot about stocks and bonds and the economy and what's going to happen when this happens, and this happens, then what's Gomming with my investments? Right, and that tends to be what people mostly look to me to help them solve. But really, when we get into it, it's a lot deeper and more than just that. It's about these things like should I pay off the house, or should I actually maybe should I take out a little bit bigger mortgage in order to do this? That the other thing, and what tax implications does that have, and how do I get to the point where I don't have to hide something from my wife, because this is the this is like the...

...number three reason for divorces today. Don't if you do that now finances and what begins to happen as things get to be more stressful because you bought maybe a little bit too much household, too much car, whatever. You start like you hide something or maybe you just omit a little bit of information about the finances and suddenly your husband or your wife tryings out about it and then they're upset and then it's a real problem. So this is bigger than finance. This is all about building your best life. I can tell it's no fun to right when I have my wife and I are fighting, we're in an argument. It's just not fun. It's not at all now, especially especially when you're in a situation your over leverage and you can't get out easily. Right, right, you get into an overleverage housing situation, that is not a quick fix most of the time. Right, all right, that's right, and it's like get anything else. And we do talk to people...

...who are not investing at all. We help people who are trying to climb out of that that that is happening for whatever reason. By the way they're they're actually good reasons for people are there's a lot of medical debt. Sure one of the top reasons for bankruptcy in the United States is medical debt, and there is usually no way that that could have been avoided. Right, I get it. And, yeah, you know what, I've made decisions that weren't the greatest decisions and things happen. I get it and I'd like. I like to help people find ways to cons again, the plan and the consistency of how you implement and execute that plan is all how you for maybe you have to first dig out from debt before you can invest for that best life in the future. So, yeah, we do all of that together. Yeah, and that's really important because, well, I af told you many times, what you do is like Spaghetti to me. It's you...

...start talking to me about finances in my start getting that deer in the headlights. What? It's just not my sweet spot. It's my wife, but not mine. But a lot of time somebody you like, you can just ask a lot of questions, you have a lot of conversation and just lay out of plants. Okay, here's where we need to go, and the next three months let's do this one or two things, then we'll meet again and the next three months let's do deep right and you, you just you help people take a systematic approach to life because you want them to build a life. And, Oh, by the way, make sure you're having some fun, some date nights, some vacations in the midst of digging out of that dead otherwise it gets overwhelming, overwhelming any and it's just like a diet that's too egregious. Yes, suddenly you go bene on Donuts, right, because you know your body, your mind, you're most of the can handle it. You have to build in some rewards for things that you accomplished and did great and great on. You need a coach and and we do do...

...that. I actually spent at an hour on the phone this past week with they may be clients in the future, but I I invested in an hour and in them as a couple and just chatting. I got nothing from it. Maybe they'll be come client down the road, but I think where we ended up at the end of the call was that they had the beginnings of a plant. Yeah, and then they felt like all there is, there's hope here, there's are to hope. We Are we can do this, we can do this. Yeah, yeah, and that's a great place for them to be. It's a great place for you to be, and I know that's your heart to help people, because when you give them that hope of if they don't have that, they're diving deep into despair. Right now, what was me and we don't want that. We want people to know that you can have a great life. You can't have a great future. It does take a plan and that's what John and his team at Guardian Rockwell, they help you do. They have conversations with you and they help you...

...create a life, not just a portfolio. So, John, people can reach out to you a number of ways. I know you got this this thing. They could text the word life to twenty one tho, they can reach out to you at Guardian rockwealthcom. They can request a copy of your number one Amazon best selling book, build a life, not just a portfolio, and they that phone called zooms whatever. And that's what your heart is to help people make sure that they are not skimping on things that are really, really important. And there might be a there might be a season when they need to write, as you talked about. But if you build a plan you can get out of that Bikini and put on a real swimsuit financially and stop skimping around and getting those stairs, because John and I want you not to skimp through life. We want you to have a full, robust life. That's what John Helps you do. So reach out to him. Text the Word Life to twenty one tho, or go to Guardian rockwealthcom and come back for another great episode of John Browning's podcast right here next week.

John, thanks for being with us, buddy all right, thank you. 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 could 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 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. Nothing in this podcast should be construed as personal investment advice and past performance is no guarantee of few results. Investing is not appropriate...

...for everyone. There is a risk of loss associated with investing in the markets. No representation or implication is being made that using any methodology or system will generate profits or ensure freedom from losses. Please remember that investing carries risk. Guardian Rock Wealth LLC and its affiliates are fiduciary investment advisors. Please consult with US or another experienced qualified investment advisor before making any investment decisions and or trying to implement any of the strategies and tactics we may discuss in any of our publications or podcasts.

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