Personal Training and Financial Planning

What command to Mr. Stillman's opus.

Another episode coming your way.

I got a great one for you today. I believe it's about staying in shape financially and physically. John, are you guy that's has a great workout plan sticks to it that tries to keep yourself healthy as possible.

I go through different stages way. I've always going to the gym very consistently, but have different phases that I've gone through in terms of how strict my actual plan is like there'll be times where I have a very specific lifting and strength workout that only twice a week of the cardio. Once we go to court.

Absent once a week.

So in others for good days right there. There are other times where it's all I can do to just show up and do something three or four days a week, and it's not quite as regimented canaries. I know that that's the case by wellness is important you the right and that's something that you find especially for people you work with in your family that that's important to living a good life. Well, mainly it's just I'm too vain to be out of shape I think is pretty much what it boils down to the Kennedy half okay, fair enough. I thought you wanted me to be healthy, but okay that I don't care of your health, wellness, and that the reason I ask is because today's topic is personal training and financial planning.

There's a lot of principles that we can take from personal training in the fitness world. We can apply to retirement planning. So today on the show with John Stillman who is the president and founder of Rosewood wealth management. We are going to take the similarities between the two, and learn how we can increase our level of financial fitness much like we try to do with our part personal fitness as well. So first things first is that a lot information out there right when it comes to personal training.

Probably, you know, pick up some things, but you can't just read a book and find everything you need to know so several months ago we were at Barnes & Noble and I grabbed the book from their clearance section was six dollars or something but it was like the Navy seal workout plan and it was a lot of the stuff that they do and seal training which I thought are AWOL for six dollars. I can probably get some nuggets from this book and I read through it and it was interesting but I haven't actually designed to work out for myself based on what was in that book it's in my nightstand. Now every time I open that drawer is all the book I should get that book out design workout have not yet actually done so just because in the book doesn't mean it translates to me actually applying at my life and so often that's what I see with people who want to constantly learn all they can about the financial realm is yet you get all the magazines and books and listen to the podcasts and whatever articles you will read but at the end of the day you have to implement something and just because you've taken in a lot of information doesn't mean that you're able to implement so often in ERC this with business owners to business owners constantly get advice are are paying for advice from coach is an idea.

People like think tank sort of folks you might join up mastermind group for your industry will most of the time, what small business owners need is not more ideas. They need people that can help them implement the ideas they arty have and help them execute and that's really what you need in your financial life to is the ability to implement and execute not just more theories and ideas. I think about that book that you have in your nightstand and you know I worry that you might look through it. You might come through it in and see some workout plan that you want to put together then you might try it yourself and your in great shape.

John Butcher no Navy seal and trying to do it yourself. My college a little more harm than good that that's a matter of pain is not a Navy seal Seth who you can you can try to do stuff on your own is not always a good idea right to your point it out let's see you doing lap holes at the gym. The bar of failure, simulating pull-ups right by your: the bar down with weights instead of actually doing pull-ups. Well, if you do that you want to be pulled on the bar down in front of your face behind your head behind your head. That's bad for your neck. You can damage your neck doing you know if you're doing squats don't go down to lower you miss your knees up and so if you just may watch other people do these exercises and you say I want to do that myself.

You can cause yourself some damage if your form is right and so in a lot of cases.

If you're not familiar with things like that. The gym you want to start out by working with somebody who can show you how to do things properly and again.

It's no different with your financial life. So often people say yeah well I'm going to do under take advantage of this particular strategy rhyme invest in this particular fund, and if you don't do it right, you can cause yourself more damage than if you just hadn't done it at all. So you want to be really careful that any time your diving into something new. Even if you think it seems intuitive, but maybe it's not as intuitive as you think you want to be sure you have a coach or a trainer to keep you from messing up your financial needs or whatever your financial back yeah for sure no matter what you do with planning dislike person personal training you have to have goals in mind, you can just say I want to start working out, lose weight would be in great shape later this year.

You got out specific goals in mind, that helps you put a plan in place to get there.

Let's suppose he's walked up to a trainer at the gym and said all right I just signed up for a personal training package. I want you to draw up a training plan for me will advocate droplet because they don't know what you want to lose weight.

Are you trying to get huge. I mean, there's a very big difference between yeah I'd like to add some several inches to my biceps and like my chest to get bigger my waist to get smaller on a really big thighs like that's a very different workout plan from you know what I did want to lose the love handles, so depending on what you want that's going to dictate what the training plan looks like. So a good trader is going to use their knowledge and experience to help you figure out what you want because one people know a lot of people to say well I want to be in better shape.

Okay, what does that mean what does that look like with let's quantify what you mean by being in better shape so that trader is going to ask probing questions and and help you uncover goals that are important to you.

You may not even be consciously aware of. Maybe you haven't even thought about yourself again same thing.

The financial realm. A lot of people say well you guys need to get organized financially or I will really know what I'm doing. Someone smelled okay what we have to figure out what you want out of life. Are you 60 years old and you're trying to retire in five years. Are you 50 years old and trying to retire at 55 or are you 68 and say you know what mouths work forever. I like what I do. I does want to be sure that you know if I have to go to the nursing home some damage to be okay. What is it that you're trying to address enough for most people are going to be multiple goals. It's not just one thing, but we want to take all those goals into account and have a financial workout plan.

It actually addresses all those goals and you a lot of this is just the first step is you sitting around thinking what is that I do that I do want in retirement where I want to live, how much do I want to travel who like to hang out with when I'm I going to work every day how often am I going to eat out things like that but I can answer for you but you need to sit around and spend some time thinking about that and if you married try to get both spouses roughly on the same page with that lifestyle. Understanding yourself is important. That's the first step in internally building a plan and I don't understand myself. John whenever I'm into personal training and fitness is that I don't have a good workout. End of saying you know what I burn a lot of calories that would go out on either I can have some pizza tonight because this week to deserve these cheese fries and much like finance to like sometimes she will say okay I really good month.

I saved it and got it a lot so I splurge a little bit this month, but it's important that you always stay on track and you don't give in these bad habits you will you nail it. There was famous trainer who said great abs are not made in the gym there made in the kitchen which means you don't do crunches at the gym you go home and you do your crutches in the kitchen that no well to get good apps so obviously a great fitness plan can change your body but if your nutrition isn't right.

Along with it than your canceling out everything he did, the gym, I mean there was a time in my life when I was younger, where if I sit who you know I need to lose a little bit of belly fat. I can either eat really well for a few days or I could go run every night for a few days and define old and there was a time where I had to do it for a longer. I could still be one of the other either eat well or exercise well will now I have to do both constantly hurt.

It's going to get out of control. Thank you age. Yeah so you have to have the right habits and again when it comes to your financial life. Let's suppose that you do something that's good for you from a financial standpoint like get a better job and you have a substantially increased income from what you had before, but then you celebrate by spending too much. Your lifestyle increases.

We talked in the past episode about lifestyle creep in your lifestyle to take Nick up with your income and your never really making any progress. Just because yet you fuel the economy. We all appreciate thank you, but you're not really improving your own financial situation and so now it could be that you doing a better job of being more disciplined about putting money in your 401(k) every month but then your canceling that out with bad habits with what you invested in the 401(k) and you're trying to time the market and get in and out of the wrong time in your shifting money around within the account in your cutting off your nose to spite your face in the 401(k) even though you done a better job putting money in your eating badly or in this case, investing badly so very important that all of your habits line up together so you're not canceling out your progress know one thing that my mom always try to instill in me was and when you get a raise at work when you start making more money continue to live the same lifestyle so much easier said than done.

You want to God by the new TD year new car or whatever it is when you get that payraise but does bad habits can hurt you. Blasting to this comparison between training, personal training and financial planning is to understand us a journey.

You can't just like when you go to the gym.

That first night he stepped on the skillet next morning you see any any difference much like if you check your bank account every day you looking to see them. If you stick to the process that's gonna get you to your destination. So I think it's important for a lot of people to understand some things just take time. I mean, I actually see this with myself about talking to a financial advisor whose 25 years older than me, mean he's in his 60s has a very successful business for me as I think 25 employees is not necessarily in the office that much himself. He got overseas everything but he has five or six advisors under him. Meeting with clients a huge support staff and he was talking about how so many advisors are are coming him trying to get the keys to the mint like how do I have the same business that you have any statement you just can't understand like some things just take time. I didn't build his overnight he says I haven't been in the business for 40 years and it took me a long time to build up where I am now so sometimes you have to just grow slowly and be patient.

In building a business and same thing in personal fitness same thing in personal finance. Sometimes you just can't experience those overnight changes. I've seen people who get started on a personal training thing and you know they'll go for their first 30 Day Way in and find out that they weigh more than they weighed when they started well.

The reality is you're replacing fat with muscle.

So yeah, muscle weighs more than fat. You probably have gained weight but that's not really a true indication of your progress. Or it could be that you know what your body just is going to take longer to respond to what you're doing and it might be three or four months before you actually have any positive progress and no same thing with your contributions to retirement. I mean, you're not gonna fund your entire retirement this year. It's something that you do over the course of many decades and you have to understand there's going be a lot of ups and downs along the way in your account balances gonna take a big hit when we have a market crash, but if you keep plugging away and keep putting the money in over long enough period of time, you'll be just fine.

So don't get too shortsighted and try to fix all of your problems likely if you made some bad financial decisions in the past will more than likely that's not something we can fix overnight. It's probably going to take time to help you recover from those just important to keep that perspective. Yet an air of social media for every picture you see on Facebook and Instagram that in result that you see you know that there was a long process behind it is not all about this. That is to that gratification and asked the same way with fitness and finance. It's it's about putting in the work over a long time and following the steps to getting there and you can do that by working with an advisor professional to get help lay that out. You follow the plan and by the time you get there you can look like those pictures of the thick lovely couple on the beach holding holding hands at the sunset right you enjoying it however you want to do so. If you need help ever reach out to John Ms. Tina Rosewood wealth management will be happy to do so.

So let's wrap up this episode of Mr. Stillman's opus John enjoy the time out the your workout plan with the Navy SEALs starts pretty soon hold around how let you know enough notice for us. Thanks for joining us on this episode of Mrs. Tillman's opus