Transcript
Speaker: Everyone dreams of living an uncommon life and the best asset you have to achieve your dreams is you. Welcome to the Uncommon Wealth Podcast.
Speaker: We're going to introduce you to people who are living uncommonly. We're also going to give you some tools and strategies for building wealth and for pursuing an uncommon path that is uniquely right for you.
Speaker: Hello and welcome everybody to another episode of the Uncommon Wealth Podcast where I'm your host, Philip Ramsey, and I love the intro to our podcast. It just gets me hyped up, just for the record. Okay? Just haven't talked about that for a while.
Speaker: Every time I turn on it just to check on the audio and stuff, I'm always like getting hyped because of the music. So, anyway. Today I'm going to talk about ah basically the emotional weight of financial decisions and how that is crippling in in many cases and which then kind of props up financial financial advising, I'd say Uncommon Wealth Partners, but how crippling it is to have a financial decision in front of you.
Speaker: Not exactly sure why. um Probably many reasons. But maybe just because people just don't want to make a poor decision that they're going to have to regret later in life.
Speaker: That totally makes sense to me. Money decisions are rarely just about the money. Let me just repeat that. Money decisions are rarely just about the money. And I all i i see that having a financial advisor just to be able to call and have a relationship with them that understands the direction they're going is really helpful when you're talking about financial decisions. Big financial decisions, small financial decisions, they all add up. um And so the people who have financial advisors, I feel like feel a little bit more confident in taking some of these decisions um and then bouncing it off of somebody that can help them guide and and navigate through those treacherous waters at times.
Speaker: So financial choices often carry fear, guilt, pressure, identity things, family expectations. um All these things weigh in on a financial decision and it can be exhausting. You can wake up in the middle of the night. I mean, just think about how many times you've done that. I've done that. um But not only just financial decisions, but I think just decisions in general. There are times where I feel like it's such a decision heavy decision.
Speaker: season in my life that I just get bogged down by just tiny, small decisions, which basically this is a confession. Awesome. This is a great confession podcast, everyone.
Speaker: um But here we are. um And then financial stress just of this emotional weight can distort decision making. um This like hesitancy. I think the scarcity mindset versus the abundant mindset could be probably talked about in a whole nother podcast.
Speaker: But I often feel like I think about things if they go to like the worst case scenario. Instead of the best case scenario. And what are the probabilities of both happening? Chances are in my, in my, I guess, history, the worst case scenario that I keep thinking about is probably the least likely to happen.
Speaker: Probably not the best either. So there's that, but it's probably going to be a little bit more than what I think is going to be even average. Honestly, if I'm being honest, so financial stress can distort decision-making.
Speaker: And then also peace comes from having clarity, community, and trying to be the best steward and humility, I guess. I don't know. I'm making those up, but clarity, community, and humility um to know that we're probably going to screw up. Let's just talk about the humility and every decision that we make probably won't be the best one, ah but have a community around you to be able to bounce ideas off of. And then just having clarity and focus on what,
Speaker: what your success is. I just did a podcast on that. Defining your success, having community around you to say, hey, here's my definition success. Here's the financial decision that I have in front of me.
Speaker: Can you, does this line up? um And then have the humility just to ask somebody. so There's my podcast on just the emotional weight. I've seen it happen time and time again. I'm 15 years in the industry.
Speaker: Man, there is real weight that happens when you're thinking about a financial decision. So if you think about retirement, man, think about that big decision. You know, like that's a big deal. So when people come to us with that.
Speaker: I guess, question about retirement. Like I am so honored to be able to walk through some of those emotional decisions for people. In fact, we have a meeting coming up here on Friday and they've done things so uncommon. It's awesome.
Speaker: And so for me to be able to encourage them on the uncommon path that they've already taken and where they've gotten and the Lord has blessed them to where they're at now, to be able to encourage them when what we call the plan reveal of once we understood their Their definition of success.
Speaker: We've taken their numbers. Now we we bring them back and say, okay, if we were sitting where you were at with the knowledge we have, this is what we think would be helpful for you to educate you to figure out what we want the next phase to be. I can't wait for that. That is going to be such a sweet, sweet meeting where these people finally see that what they've done in the past is actually valuable and helpful for the future. And it actually lines up with their goals and their definitions of success. Super fun. um so So we inherently, I think, make decisions based on the goals that we have, even if they're not articulated. um
Speaker: We just, I think, inherently do that. So kind of cool. But anyway, this is what you need to know is your financial decisions do carry a heavy emotional weight.
Speaker: And if you need to go around and give people clarity on what your success is, get around community, don't do this by yourself and have humility to ask, you'll be all right. You've been listening Uncommon Wealth Podcast. I've been your host, Philip Ramsey. Until next time, go know that you have got just the emotional weight of financials, but also that you have people around you that can help you make those decisions. Until next time, thanks for listening.
Speaker: Bye-bye.
Speaker: That's all for this episode brought to you by Uncommon Wealth Partners. Be sure to visit UncommonWealth.com to learn more about our services. Don't miss an episode as we introduce you to inspiring people who are actively pursuing an uncommon life.
