text: 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 The lawn, your hostfor the next few minutes as we chat with financial expert and business ownerJohn Brownie, well illlod. John Browning, welcome back to your podcast. Howare you today? Doing doing well, I'm glad. Well, yeah,how about you? That's a good answer. I'm doing really well.Also, I like that. I told...
  ...somebody at Church on Sunday I wasdoing. They said how are you doing? It unbelievable and they kind of lookedat me. They physical look on like can you can take it eitherwe want. I'm always doing great, though, and especially when I'm heretalking to you, because I get to learn a lot of stuff about financesthat I it's just not in my sweet spot. And and here's here's kindof where I've been talking to some people, John, about lifestyles, right,and not lifestyles with the rich and famous, with what's his name,but lifestyles of you know, can I, is it okay if I ride goby a Harley Davison? Can I put a swimming pool in now?And what's that going to do to my life down the road? And soreally I guess that question is how, how did your particular lifestyle today affectyour lifestyle later? Or how can it? Maybe that's the better one. Howdo you talk to people about that concept? What do I do todayversus how that's going to impact what's going to happen down the road? Okay, yeah, let's let's talk about that a little bit. I do answerthat question, you know, sometimes when...
  ...it's not even asked, right,yeah, because I feel like people need to hear it right. But theone thing that I go back to, and somebody says this, is isAlbert Einstein. We all know him, right. Yeah, kind of smart, knew what he was doing, although people didn't think he was smart whenhe was first, as you know that they actually don't hum. But hewas in school. He frankly, what happened, we think, is thathe was bored. So he did have to do well in school. Butwe found out that he was actually brilliant. Yes, maybe one of the mostbrilliant minds that's ever walked right. They math, but one of thethings that he said was that compounded note. A really smart guy. Right.He came up the the theory of relativity, which we use for everythingtoday. Right. He said that compounded...
  ...interest is the eighth wonder of theworld. Okay, okay, so you know what the seven wonders of theworld are, right, or you know what some of them are? Anyone? Right, Geral? I? Yes, yeah, right. So, sothose are pretty cool things and for him to say this is the eighthwonder is kind of a big deal. But he also said that compound interestis the eighth wonder of the world and he who understands it earns it,he who does not pays it. Huh. Okay, so you think about itthis way. Let's do a little bit of math, and I promiseI won't make it too hard. We're going to keep things round. Numbershere. So if you were to invest, as some of them at ten percentfor five years, you'll multiply. You'll multiply your wealth by about onepoint six times. Right, right. If you invest your capital at thatrate for ten times longer than that,...
  ...say fifty years, you'll you won'tmultiply your wealth by sixteen times, even though that would seem to be themath. That's not actually what happens. If you actually do the math,you'll actually multiply it by a hundred and seventeen types. That's the power ofcompounded interest. That's great. Now some people are going to need to rewindthis and think it through, because I did. I had the math donein advance. Okay, there you go. I have an advantage. But rewindit and listen to that again, because it's a tough concept because,like Albert Einstein says, it's kind of tough to get kind of stuff towrap your mind around. But it's extremely powerful and if you understand it,you can use it for you. If you don't understand it, it mightuse you and interesting. Okay, all right. So now now I've gota concept of compound inters. How's that...
  ...going to affect my decisions? Todayversus later. All right, the reason that diet, that I went throughthat first and could that makes all the difference in the world. Right,okay. So, while I you know, because you've read my book build alife, not a portfolio, that it's extremely important to be that,myself, my clients and people that I know experience their best life now aswell as later on. So I'm not saying deny yourself everything and then you'llbe great, you know, excellent years from now. That's that's not thepoint of this. But here's an exercise to think about. When you reachinto your wallet or you pick up the digital wallet. That's I don't evenquite understand here. I still struggle with using my phone to pay for things, but I'll get it one of these days. I'm old. But whenyou reach into that wallet and you go to paint for something, especially whenyou're looking at a big ticket items,...
  MMM, just ask yourself the question. Am I'm willing to give up ten times what this cost me today?Because if I if I didn't buy that, if I invested it, compounded interestsworking for me, I could actually have so if I say it's sayI'm going to buy a big ticket I don't like a car. Is thisthirtyzero dollar car worth now? Worth Three Hundredzero? MMM? ME, tenyears from now, or as so many cars are today, if it's aFiftyzero car, is it worth five Hundredzero? For me, ten years from now, it's now. Sometimes he answer to this is yes, okay,right, absolutely is. But it's an interesting practice habit. You know,not all habits are bad habits. You can develop good habits. It's aninteresting habit to get into because maybe you...
  ...won't. Maybe you won't do thestarbucks thing every day. Now you will. That brings you joy, absolutely,but but maybe you won't do something else. Right, maybe you notspend that money there. Maybe you do something. Maybe go for a hike, is said, going to movie or some yeah, yeah, well,casing points. I'll reveal some stuff. Right. So in our family we'vethought about this for years and years, to a swimming pool. Well,I've got girls at home, whore, twelve and ten, and my wifecame to me finally said lest she has do it. So we're running outabove ground pool in this year. Well, that's a chunk of change and wehad to go through that analysis to go. Well, we have thismoney. We could put it in a swimming pool and a deck and Anda, or we could put it in our retirement. And what's going to happen, Johns? We're going to put it in the pool, but we're goingto live life for the next decade with our kids and all their friends.We're going to have a life and hopefully get a little bit of money outof the appreciation of the bool. I don't know, but it's that tradeoff. That's what you're talking about. Is that trade off that sometimes it saysI'm going to spend the money because it...
  ...builds my life today, versus goingno, we can't do that, we are saving for retirement. It's thatback and forth. I wouldn't do that every day and we've thought about itfor many years. But that, that's kind of the the tradeoff for thethat's what you're talking about, right. That's that's exactly where. Right.Good, you thought it through. Oh yeah, no, and any butmost people don't think it through. You know, it's just natural. WhileI need a car and I want the red one with the power windows that'sgot five hundred horse power or what exactly? Yeah, and we've saved some money. So we're not going into massive debt to buy this thing, right, and so it's all of those factor into it's not an impulse decision,even though a lot of our friends think it is. It's like, no, we've thought about this for a long done. Yeah, that's right.It goes to like judging people, right, you have no idea what's behind what, what that person has been through or or what that person has thoughtthrough. But but you brought up another...
  ...great point, right, is ifyou finance it. Oh My yes, more working against you, unless youcan finance below the rate of inflacier, which you might be able to nowthese days. Yeah, yeah, yeah, Guy, really good credit and allthat. And how you do that. That's part of debt management, whichwe've talked about a little bit before. To Yeah, is is debt thatthat maybe isn't so bad for some people. Any debt is bad,but but they we're we're getting off topics, right. If you do invest insomething like a car and it costs, you say, four or five sixper in on the financing of it, well, that's even worse, right, that's that's damaging the future even more. The yeah, we cantalk about that forever because you know, I live in a near or wealthyarea and people are always driving new vehicles. I'm sure they're lea seen it forfour or five six hundred dollars a...
  ...month and I always think, youknow, if you just drive a car for a long time and put thatmoney in an investment or a portion of that money and investment, you're goingto have more money long term and still have a good car. That's justa philosophy, right. That's my philosophy. They may not abide by that,but that's okay. We tend to buy, use cars and drive themtill they die and use that other money that we would be making a carpayment on in putting that in the investments long term. So hopefully we're makingsome good long term decision while enjoying a good, reliable vehicle. That's justone thought. Yeah, yeah, bottle line stuff, things like that.Right. I buy their least cars. You know, they're exactly, exactlygreat, brand new, but those are individual decisions and that's okay, that'sright, that's right and and you know it's okay like people. You know, people talk about dieting and healthy lifestyles the same thing with your financial lifestyle. It is so you can sit on the couch every day and meet abunch of sugary snacks all day, which...
  ...sounds really good. But longer term, ten years from now you're going to have a few extra pounds wrong ground, your waistline most likely, and your knees are going to hurt a littlebit more. Your feet are going to hurt a little bit more and youpay for it later on. Just like that. There's good financial habits andbad financial habits. You can get into. Yeah, well, and I thinkat the end of the day, these lifestyle questions, most of it, are not yes or no, black or white. It depends on yourunique situation. And what are you what are you doing? Why are wethinking about putting a pool in? Well, these are the reasons and it justmakes sense. You know, five years ago it didn't make sense.Fifteen years from now it won't make sense. It makes sense today, right,and but having somebody like you trying to bounce these ideas off of Imean we called a lot of counselors in our in our life to say here'swhat we're thinking about doing, and you know, and most all of themsaid, yeah, that sounds like a good idea. So having a counselorlike you that to bounce an idea off of and say, I'm thinking aboutdoing this. Yeah, okay, here,...
  ...have you thought about this? Andlisten, thisn't this. Okay, that's fine. At thing of day. It's their life. But you're helping them build that life and think throughsome some questions that many of us don't think through because we're just emotional beingsthat we just want that Ding Dong and I want to sit on the wantto sit on. Let's keep my being dogs and never be out of shape. I won't look like Jack Lane. Right. Many of our listeners won'tknow who Jack Lane are, but hopefully many of them will. So anyway, it's all about living in a life, if that you want to live,building the portfolio that you want to have and doing both of those atthe same time. That's what John and his team at Guardian Rock Wealth helpyou do. So reach out to Him Guardian Rockwellscom and let him help youunderstand how your particular lifestyle today can affect your future, for good and forill. But John will have a great conversation with you. John. Thankyou so much, sir. Here they always a pleasure. All right,we'll talk to you again soon. All right, money really is a bigpart of our lives, and John Browning...
  ...can help you and your family learnhow to keep money in the proper perspective. It's important, but it's only atool that can help you build the life that you want. If youlike, John Emilie a free copy of his book build a life, nota portfolio. Go to John's website, Guardian rockwealthcom, and click the contactto US link and send your request. John Will Mell a copy of hisbook right to your door absolutely free. Thanks for listening to building your lifepodcast with John Browning. Be Sure to subscribe to this podcast so each newepisode will be sent to you automagically when it's released. Have a terrific day.