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 to the Uncommon Wealth Podcast where I'm your host Philip Ramsey and today you found myself in the new podcasting room at Uncommon Wealth Partners, World Headquarters Uncommon Wealth Partners. it Feels good to be here, it's not exactly set up exactly how I wanted it but I felt like it's starting to come together like anything.
Speaker: It's a work in progress. So today i thought we would cover a topic about an analogy that I've used around when I'm out in the street, when I'm talking to somebody and they ask me, hey, what do you do?
Speaker: This is maybe a little bit longer explanation than I would give them, but it's a podcast, so you're going to get it all. So my analogy that I use is is like people are flying in an airplane and they're looking at dials and they're trying to figure out all this stuff and the ultimate goal is to land on a runway.
Speaker: That's usually the goal of all airplanes up in the air. So my analogy is that we are in air traffic control. we're the We're in the tower that's right next to the landing strip.
Speaker: And the first thing that we do with our clients, and one that I feel like really is missed with a lot of advisors, is to define their runway. What does it look like?
Speaker: Does it need to be a short runway? Does it need to be a long runway? ah What exactly, what age do you want to retire? When does it start? How long do you think they're gonna live? That's how long it could be. And it doesn't matter. it it really doesn't matter. And this is where you can really customize a financial advice and plan is by figuring out what is the runway that they are landing on. There's so many questions that go into that. So it's easier said than done, but for this analogy, we'll just stop there.
Speaker: Is how and what does their runway look like that they're flying in on? The second thing ah is now to try to take inventory of the plane that they're flying. And this example is how much assets do you have? Have you accumulated over the years or lack of accumulation?
Speaker: What do we have to work with? Are you flying with two engines? Are you flying with just one engine? How much fuel do you have? Has your engine blown out? One of the engines blown out.
Speaker: Maybe you only have one engine and that's blown out. yeah And our job is to try to help you land on your runway safely. Okay. The third thing is the weather.
Speaker: Turbulence. No one really likes turbulence when you're in in ah in a plane. So our job is to help you try to navigate the crosswind of you coming into your runway so it's a smooth landing.
Speaker: And the cool thing about this analogy is there is an actual line that true air traffic controllers then map out for every plane that's gonna run on their runway. And and they that tracks from the point of the airplane down to the runway. And if they are too low, they'll radio out to the plane and say, hey, you're too low, you're gonna have to pull up or you're gonna crash and burn.
Speaker: And then if they're too high, they radio out and say, hey you're too high. if You're not gonna land on the runway that you want to. You're gonna do a flyby. so you're gonna have to adjust. So we help people adjust after we've made their financial plan. We try to figure out where they need to go, how what they can maybe spend a little bit more on, what can they spend less on, what if there's some crosswind we weren't we weren't planning for, what if there's some turbulence, if you will.
Speaker: So that's our job. We get to sit in the air air traffic controller and we have about 250 planes flying around up ah up and doing their life and flying. Everything's good. Some of them are closer to the runways than others. And our job is to glide them down or or land them on the runway of of their plan.
Speaker: and So we get to this every day. It's it's amazing. and can be stressful, but so can flying a plane. And so when you're up there or you're living your life and you have no idea what your plan is or if there's any trajectory or where are you gonna land, that's when I would say you gotta call us or call some advisor, because a lot of people can help you at least map out what your path is. Okay, but the two things that we do a little bit different is one, we help you define your runway.
Speaker: What does that look like? And the other thing that we do is we not only map out from where your plane is to the runway, but we try to make efficiencies. How can we do this more effectively or efficiently so you can have more fuel in the tank after you've landed? um and maybe you can have more fuel for their next flight or for the next generation. But we do all these different tweaks to see like, would this be more efficient or would that be more efficient? So we take your plan and where you're gonna go. one we wanna make sure that you're looking like you're gonna be close to landing on your runway.
Speaker: And we try to tweak it to make it more efficient. So not only will you land on your runway, you have two people or however many people we have at the time here Uncommon Wealth to help communicate with you on what's going on on your plane because everything can happen. Things can happen and you just need somebody to help. Hey, I need bounce some ideas off of you. But this is going on. So for all the planes that are up in the air that we're going to be the air traffic controller for, we love them. I think they love us. At least at least that's what I tell myself.
Speaker: And we're grateful to do it. So that's the podcast. If that analogy resonates with you and you've been flying without air traffic controller, I'm not saying you can't do it, you absolutely can do it. There's a lot of air pilots that do that, but if it it feels safer to have but an air traffic controller or somebody guides you through this, We'd be happy to be those people. So reach out to us. Go to uncommonwealth.com. Click on schedule 15 minutes call. We'd love to try to help to get you one efficient, but to help you be confident in where you're going.
Speaker: That's I think it. Until next time, go be uncommon. Thanks for listening.
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.
