NoBS Wealth®

35,000 Decisions a Day Is Wrecking Your Judgment | Dr. Preston Cherry

NO BS Podcast

Use Left/Right to seek, Home/End to jump to start or end. Hold shift to jump forward or backward.

0:00 | 35:04

Tax season's over. Kids getting out of school. Tariffs, war, graduations, business cycles, household pressure, all hitting at the same damn time. You're tired. You're stretched thin. And you can't figure out why more money isn't quieting the noise in your head.

Dr. Preston Cherry is back in the booth, and we went where most people won't go. Financial wellness and mental wellness are not separate conversations. They're the same one. You can't out-earn the inner work. You can't out-hustle the self-audit you've been ducking. And the gap between knowing what to do and actually doing it? That gap is you.

We get into the honest self-audit (admit, acknowledge, act), the 35,000 decisions you're making every single day, and why your capacity is the most valuable currency you own. Across every income bracket, 32% of Americans think their finances will worsen in 2026. Highest pessimism Bankrate has clocked since 2018. That's not whining. That's the moment we're living in.

Dr. Cherry drops one of the most important reframes in the episode: wealth funds wellbeing. Life and money alignment gives you money assignments. Translation, until you do the work to know what you actually value, no amount of income is going to fix what's broken on the inside. It'll just magnify it. More money doesn't solve the problem, but it does fund the solution if you've already done the audit.

If you're a first-gen wealth builder, a business owner running on no sleep, or just someone exhausted from carrying decisions nobody else sees, this one is for you. Drill deep, not wide. Stop splitting your capacity across 14 directions. Start with the person in the mirror.

If this hit home, drop a comment. Tell me where you're feeling it most. I read every single one.

New episodes every week on Spotify, Apple Podcasts, and YouTube. Subscribe so you never miss a real conversation.

The Weight You're Carrying Right Now

Dr. Preston Cherry

Well then, it's time.

Stoy Hall

It's gonna be May. See, I'm not a singer though, folks, so you know this. But it's May, right? Tax season's over. Business owners, we've gone through Q1. We're, you know, almost done with Q- or we're getting through Q2. We have tariffs going on. We've got a war going on. We've got kids getting out of school, graduations. There's a lot of things that are hitting, uh, us all at once. I know you have things in your life going on. I've got my things. Dr. Cherry, our boy Dr. Cherry has things going on, too. But have you ever sat down to just think about them? How you relate to them? What ha- actually is something in your life that you can control? And I couldn't think of a better person than Dr. Cherry to come on and, and talk us through, um, his journey a little bit, but also just hit us with some, some cold, hard facts. If you guys don't follow his content, which by now you do, um, we s- we speak the same language. We speak it a little differently, and we wanna get through to you because things are tough. We all know that. But you're not alone in the situations, and so we wanted to make sure that we hit upon that. So Dr. Cherry, welcome back, brother. I know it's been a while. I know you've been getting back in the booth and everything, but, uh, we- we're glad to have you back.

Dr. Preston Cherry

Man, Story, I really appreciate the outreach, man. This is gonna be a special topic, so, uh, man, let's get into it, brother.

Stoy Hall

Yeah. So first gen wealth builders, business owners, those who have created something that maybe they've never seen or done before. I wanna start with, with the, the whole topic of like what is financial wellness, and is it

First-Gen Wealth Builders and the Stage You're Actually In

Stoy Hall

or is it not separate than mental wellness?

Dr. Preston Cherry

Mm. Well, you know, we were just talking in the, in the, in the green room just a minute ago, and you know, generations have their own set of events and trials that they go through. And, uh, you know, first generation business owners, uh, they're probably in their late 20s, early 30s. Uh, you have mature business owners, you know, Gen X, they're go- you know, they're going through a lot right now. Uh, you know, but, you know, the common theme is, is if you're a first business generation owner, then- Uh, you, no matter what generation you're from, Stoya, you, you, you're experiencing ebbs and flows for the first time. And, uh, not only it's important to know w- what stage that you're in, maybe one through f- one through three, three through seven, or seven to 10, those are the years, right? That, that stage is very important, and how many events, uh, uh, social, uh, economic, global, uh, household events, how many of those have you ebbed and flowed, and at what stage is very important there. And then what are you dealing with? Not just the cash flow that may be coming in or not be coming in, but how is your, like you mentioned, you know, how is the, the wellness in- inside the home? And I, I, I'll, I'll touch on the financial wellness here in a minute. But I, I think those are the, those are the key elements there. Cash flow, house flow, uh, heart flow, and, you know, where you are as far as your ebbs and flows of events that you're dealing with externally.

Stoy Hall

I, I couldn't agree more, and we'll get on the financial wellness side of it is... But it's so important to, to grasp what the mental side means. And I know a lot of people hear that, although it's getting better nowadays. But like, "Hey, I, you know, I don't need to see a therapist. I'm good," right? We got generations that wouldn't see a therapist if, if anything happened to them, right? It's just not gonna be a thing. But I think it's less now that people are understanding that, like, my money, my financial wellness, my physical wellness, my mental wellness- Mm-hmm my ability just to be a, an adult and a human, th- they're all, they're all kind of the same. They're all, they're all, like, really tight-knit. It's not like, "Hey, I could... I'll deal with my mental side later. I gotta focus on business and stuff." That's- Yep that to me, that's wrong because not focusing and helping this is gonna hurt that. And then now what, what spiral you into. Um, and so I think it's very interesting

Financial Wellness Is a Continuum: Mind, Heart, Money, Meaning

Stoy Hall

that that topic is now becoming one. Financial wellness, mental wellness, we're all, we're all together in that because money is so intertwined with what we do, both mentally, physically, everything, that I think it's something that we can't, you know, we can't abide by. We can't, we can't forget about at all.

Dr. Preston Cherry

Yeah, 100%, 100%. Uh, you know, financial wellness is a continuum, Stoya. And so you have the, the mind and the heart in the, on the continuum, and you have, uh, money and meaning in the continuum of financial wellness. Financial wellness is about the confidence that you have in managing your finances in a way that helps you achieve the life that you want. So the word is confidence, and then secure the life that you want. So how... Th- there's a couple of things in there. Uh, s- you know, s- experience and value systems, beliefs around money, uh, how you're making your decisions, uh, as a household- And how confident do you feel in them? Have you looked at the, or just sat down to take an honest account of the aspirational life that you wanna live now and later? It doesn't even have to be like this dream pie in the sky type of stuff, Stoy, you know? It, it can be, "Hey, you know, I, I wanna take a couple of vacations a year." Uh, uh, I wanna, uh... Perhaps if you got a little money in your pocket, maybe, "I want a second home." Whatever that is, how confident-- the confidence that you have to manage your finances in a way that, uh, helps you secure the life that you want. And the life that you want is, is different for each household, so there's no... Ev- It's, it's so unique, like a, like a fingerprint. So there's no use looking left or right and seeing what, you know, Susie Joe's doing or, you know, John Doe is doing. I mean, th- th- it's-- What we doing? That's not you, you know? So what is it, what-- On a piece of paper, you and your household, what's important to you, w- how do you wanna go about securing it, and what confidence do you have? And I, and I'll say this lastly, which is what I said about the heart and the mind. If people are not being understood, Stoy, then the mind is not gonna open up. So you have to open up the heart first. And then once you open up the heart, then you can open up the mind. Because somebody feels valued, they feel understood, it's like, "Oh, man, I got to tell my story. Thank you for listening. Appreciate you. This is where I'm coming from, and now I'm open to suggestion." And then that, that kicks off the decision mechanism and the stick-to-it-iveness and the commitment that is ne- necessary in order to have that confidence and that security.

Stoy Hall

How do you help people through those conversations, right? I mean, you, you li- listed off a lot. I think the, the important piece I wanna hit upon a little more was how do you wanna live your life, right? Like, I think we get stuck in-- Some people. I won't say everybody. We get stuck in like, "Hey, I... This is my business. This is what I do. This is where I'm at. This, this is me," right? But I don't think a lot of people have done the exercise to know, like, who, who are you and what do you want? Just because you do this right now or you live this way or you grew up this way, that doesn't necessarily mean it's you. Can you talk through maybe some things that you've done or, or you talk to your clients about of like figuring out who they are so they can translate all of this to things that they actually wanna get done and not just what mama and pop said or- Yeah or what society's told them to do, but like truly live their life? 'Cause if I wanted to move to Hawaii because I wanted to, I'ma go do it 'cause that's, that's me, not I need to stay here because,

Dr. Preston Cherry

you know, this is what I was told. Yeah. Right. Well, you know, uh, funny you should say it-- things that have always been done, so we need to continue to do 'em that way. It-- In some cases, yes. Like a, a black suit, black tie, white shirt, that's classic. I mean, you, I mean, you can go to call that casket clean. You, you know, you're never gonna outlive the casket clean suit. You could wear that anywhere, right? And then you have- Things that maybe need to change. And there was one time when my dad is from the country, and he likes to put syrup on biscuits, and my mom wanted us to cut out on sugar, right? And, and so they had to make this decision early, and my, and my dad was like, "Go ahead and put some sugar on the, on them biscuits," right? And I still-- I'm, I'm 47, I still like sugar on the biscuits. I can, I can do a little bit more on my weight. But the point is, is just because, you know, syrup was done in the country doesn't mean that you gotta continue that, you know, that, that tradition or that culture or that value all the way through to the next generation, you know? Gen X, we were, we were raised on sugar. And so now the next generation, I have a two-year-old son and then my 19-year-old, uh, niece, they're not, they're not a su- neither one of those are sugar generation. So the point is, is some things are you carry forward with your belief system and your experiences and your values with money, and then there's some things that you work on because they may

The Honest Self-Audit: Admit, Acknowledge, Act

Dr. Preston Cherry

serve as, as a barrier and, and we have to do something differently. And doing more of the same is, is, is all, all that's gonna do is, is harm. But to your point, when, uh, w-when I'm, when, when you have discussions with people, they have to be affirmed on where they are 'cause it takes courage in order to come out and say, "Well, this is how we did it, you know, in our household," or, "This is my experience. This is my lens. This is my story." And, uh, I've had several conversations over the years, but you know, a couple here recently just point out, uh... And but the model is still the same. It's called the honest self-audit. And ironically, we have the, the... As of this recording, the, you know, the Michael Jackson movie just came out, and one of the timeless songs, "Man in the Mirror." So person in the mirror if you wanna say it like that, but man in the mirror, what are you gonna do to affect change within yourself? Take personal agency. And, uh, the model I've, I'm talking about, I don't necessarily speak with my clients and say, "Okay, here's step one," right? No. But this is a, this is the, the journey. The honest self-audit is admit where you are. A-admit where you are. You know, it's like, "Hey, you know, I feel stuck. Uh, I may be a little bit confused. I..." And it's gonna be in any, uh, you know, on alongside the income spectrum. But for business owners, like, hey, uh, uh, there's a special kind of loneliness of being a business owner, you know? Uh, you're trying to be the breadwinner for your family and your business. You're trying to make it through that first stage, and if you're in the middle stages, then you have to deal with ebbs and flows. So where are you? You know? That takes a lot of courage to, to, to look, be the person in the mirror and say, "You know what? This is, this is where I am right now, and this is where I don't wanna be. Uh, this is where I wanna do better." And that takes courage. Number two is acknowledge really how you feel about that. Uh, is there guilt? Is there shame? Is there anger? Is there frustration? Is there, hell, do you wanna cry? I mean, you know, I, you know, they've to ca- a, a, a cry is a, is, is a good rinsing of the soul, you know? It's underrated, matter of fact. And, uh, do you, do you wanna be still? Do you want, do you want to f- uh, you know, do you have someone to talk to that you blame? Or so, hey, how do you feel about this? So acknowledge how you feel about it, because then you have to process that feeling, and then it's cleaning the palate. Tr- uh, so you, you kill, clean, cleaning the palate, so then you have a fresh mouth, you have a fresh spirit, and you can say, "Okay, now I can take the action." That's the three steps. It's like, okay, now I'm ready because I've been through the steps, and now I have the capacity to go do what I need to do next.

Stoy Hall

That's beautiful. Well, Dr. Cherry, now we're getting to our Noise Versus Truth segment, and this one, this one's fun. We pull things from the internet, the interwebs, and we get to tell you and ask you, is this no- noise? Is this truth? A- and get a little feedback from you on that. So the first one, noise. Let's think

Noise Check: "Stressed About Money Means You Suck At It"

Stoy Hall

through this one. Stress about money means you're not managing it well.

Dr. Preston Cherry

Yeah, that's noise right there. I mean, w- w- there's not enough con- there's plenty of content out written and on video out there, but there ain't no damn context out here, you know? So w- it's a great, it's a, this a decent statement, but then there's a lot of assumptions in that thing too, right? Uh, just because y- you, you know, you have, uh, money, uh, challenges or money uncertainty, okay? Uh, that doesn't mean you're mismanaging money. That means y- you, you know, you're not out there making it rain, you know? Doing a Ludacris style at the club, you know? You know, you, that, that doesn't mean that. Um, it can mean that, uh, I'm uncertain about where the direction of the world is going and how that's going to affect the income and my business, you know? I, I'm, I'm stressed about the ebbs and flows quarter by quarter in my business, depending on what sector you are, and how the, you know, the domestic and the global economy's affecting my business, how's that gonna affect my household? So that's two things. You know, my, my household and, or the business and the household together, because one is funding the other. So that's a form of stress. Uh, a- and it's different from, stress is different from guilt and shame You know, uh, you know, g- shame is I'm a bad person. You know, I, you know, I'm doing these things because there's something, uh, you know, there's a character flaw in me, and there's something I did in order to cause something. Guilt is I did something. It was either, uh, b- because I, I did something or something did something to me, or there's a, there's a pattern of, uh, shortcomings, uh, that, that decisions that really are-- There's, there's regret inside of guilt, right? And so stress, guilt, and shame are, are all different things. And then also you could have, uh, external in all three of those or internal. So we don't know which one that is. We can't readily assume. I know you have another one here, but you, you can't readily assume, this is why it's noise, that somebody has a financial defect in management because they have stress, because stress is a, is, is so broad. And

Stoy Hall

let's be real, folks. I have not met one business owner in, in, in my entire 15-year career that hasn't been stressed about money because of the things you laid out,

32% of Americans Think 2026 Gets Worse (And That's Truth)

Stoy Hall

whether that's internal, external, global, not global. There's too many to that. So if you see that or if someone says that, "Well, you must not be managing your money well," mm-mm. Mm-mm. You go ahead and walk away from that one. That's, that's not the truth.

Dr. Preston Cherry

Yeah, yeah, yeah. And that's some, uh... Well, I wish we had a button that said, you know, "That's some bull," you know?

Stoy Hall

I ought to get one of them. Right, right. Um, so th-this, this statement, this, this fact, this truth comes from an article with Bankrate, um, in regards to how Americans feel about, um, their finances in 2026. So here, here's the quote: "Financial anxiety is documented at epidemic levels across income brackets." Again, across income brackets. I didn't say one. I said across them all. 32% of Americans think their finances will worsen in 2026, which is the highest pessimism it's ever been since 2018. What does that truth say to you? Like, what does that-- When you hear that stat, what does that, what does that come out of you with?

Dr. Preston Cherry

Yeah, that's, uh, definitely not noise, actually. That's not noise. That's, that's a good, that's a good stat right there. Uh, there's a lot of pressures out here, Stoy, that are, that are real talk. Uh, like you said, across income statuses. Obviously, at the, at the, uh, the lower ends of income, there's a lot more challenges because there's no, there's no space. There's no capacity. You know, you got a limited amount of income and so many responsibilities to make. So that's a whole 'nother story at that type of income level. Let's talk about the middle class and the upper middle class and, and even, even some, uh, high income folks, right? Well, in upper middle class and, you know, and little rich folks. Listen, right now, uh, there's a lot of uncertainty going on. I mean, when we talk about leadership, institutional leadership, institutional governance at the government level, institutional, uh, governance and leadership at the corporate level, right? We're reading stuff every other day, uh, about, uh, some uncertainty. It was like, "Hold on now. Didn't you just tweet about this stuff? I mean, what the hell?" You know, it's, it's like, it's like, let me get a week. You know, let me get a month. Let me, let me get something right here so I can have some sort of certainty of, of direction of what's happening outside my home in order to get some clarity of what's going inside my home. Yeah, yeah. House prices are, are high at all levels. Supply is low. Um, food, they've been making food choices. Even rich folks, they're like, "You know, uh, maybe I may not have, you know, so many steaks this year," or something like that. You know, maybe I swap out some chicken. That's old school economics, supply and demand, you know, with the switcheroo, right? Or, you know, the complementary items. So people are making choices. Uh, high-income folks are traveling less. They're still traveling, but you know, they're traveling less, and some of them may even back up a class. They're like, "You know, maybe that Delta one, you know, I don't need that 10,000 Joan. Maybe I'll go to Delta Comf- Comfort Plus," right? You know. So there's a lot of, uh, school prices, uh, are, are high. Taxes, insurances are going up as far as your local, uh, uh, you know, local economies are concerned. Those are going up. Insurance is going up, home, autos. So listen, yes, uh, that's not noise, and that's also, uh, it's, uh, it's also an indicator of how people are feeling, and it's not an indicator of mismanaging finances. Sometimes the decision there is to, um, make... You have to adjust, and it may not be self-destruction. It could just be those are the externalities that are going on. What are we gonna do? Are we gonna survive on one income so people can watch the kids? Because, uh, kids' costs right now are very high. Uh, ch- uh, you know, ch- uh, what is that? Child daycare and all that, those are equaling rents and mortgages in some cities.

Stoy Hall

Right.

Dr. Preston Cherry

So that means somebody has to stay home perhaps, you know? So, uh, definitely not noise there. There's a lot more. That's a short list, but all those are real and affecting people.

Stoy Hall

They're decisions

Wealth Funds Wellbeing: Why Money Alone Won't Fix You

Stoy Hall

that are being made, and they're gonna keep being made 'cause there's no quick fix to the, the situation we're in right now. Uh, what about this one? Once you're earning more, the psychological stuff works itself out. So o- once I have more money, I'm good, right? Mentally, I'm good. We'll, we'll figure it out.

Dr. Preston Cherry

Well, you know what? I, I, I know what you want me to say here, Story, 'cause I, 'cause me and you, we, we, we friends, so I already know. I already know. I... Th- this... In, in, in one sense it could be, oh, more money is not gonna solve the problems, you know, and they're not gonna go away. But I, I'm gonna, I'm gonna do a timeout. I'm gonna do a 20-second Pat Riley timeout real quick, you know, and I'm gonna do a timeout and say what money does- Is it allows you to find the resources to quicken the pace of fixing or working through, uh, and getting resources in order to address what's going on. Uh, so I, I, I like to say wealth, whatever dollar amount that is to you, funds wellbeing. So you use your dollars, Troy, uh, Story, to, to fund what you value most and what's going on with all your wellbeing elements. And there's several domains in the wellbeing elements. There's, you know, there's physical, there's mental, spiritual, relational, you know, j- all this, right? So how are those dollars flowing into those areas? And, uh, know the problems won't go away if there's no internal addressing first, because that's the key, is w- w- you know, where, where did the problem stem from and has it been addressed? If it's internal and there's no addressing, uh, then, then no. All, all the money's gonna do is magnify that jawn. Right? Right? Yeah, I said jawn. Like you, I think that was Rocky VI with, uh, J- B- B.P. Yeah, yeah. He said, "What's a jawn?" But so, so yes, if you haven't addressed it, then all that's gonna do is magnify the shortcomings inside. However, if there is that courage step of what I just said earlier, say, "Okay, uh, you know, I'm, I'm having some sort of issue." May- may- maybe it's a mental, maybe it's physical, maybe it's, uh, awareness or, or whatever it is inside that's, that's, uh, puzzling you at the moment. Well, if you admit it, then you, now you can use it. Now that's a value. That's a wellbeing and that's a value. And like I say, life and money alignment gives you money assignments. Now you have something that you can assign your dollars to. So although if you don't have that self-awareness and self-reflection step first, then no, money is not going to solve those problems. However, if you, if you say, "You know what? If I had a few more dollars, I can get some help," or I can, you know, pay down this, or I can invest in this, or I can do that, because why? Because you've identified the value, you've identified the wellbeing domain, uh, first. You've, you, you've, you've reflective of self first. And now life and money alignment gives money assignment. Now you can go assign those dollars to that. And at the end of the day, I'd rather have, uh, money in my pocket solving a problem than, than no money because... And that's, and that's real talk.

Stoy Hall

It is. I mean, let's be real. Having more money, it, it's gonna help you, right? We'd all rather have more than, than less. But I think the way you, you, you spun that, um, not even spun it, you, you just went a different route than what people thinking, right? Most people are gonna say, "Oh, yeah, yeah, more money, more problems." Like that's what was coming out. But it's not, it's not the truth per se, and I think it's what you hit is knowing who you are, right? Work- doing this work- No matter what we do and what we say in our roles, our jobs, and what we speak, that part, you do that part, then I can say we can work on anything else, right? We can figure it out. But if that's not aligned, there's nothing me and you could say. No matter how much education or things we can put at you,

35,000 Decisions a Day Is Wrecking Your Judgment

Stoy Hall

if that work isn't done, something will crumble. It will crumble. You will revert back to old ways. You, you'll do something. Uh, and so I, I love how you went with that. And yeah, you're right. I, I mean, I teed that one up, you, and you went a different route. I'm, I'm glad you did. I'm glad you did. This one, um, this one's interesting 'cause this one actually came from, uh, another one of our, our members with No BS Wealth, um, in our collective, um, Tessa. She, she works with all the brain stuff. She's a, she a brain woman. She does all the science and the testing. Um, and this is one that's... It'd be interesting for you, for you to, uh, see how this correlates. Um, the average American adult, I don't feel like an adult sometimes, I'm a child at heart- uh, makes an estimated 35,000 decisions per day. 35,000 decisions, the average adult. Now, we're talking about business owners here, right? So I think we're gonna, we're gonna be a little higher than 35. And it's confirmed through their research, through, through a lot of doctorate-level people doing this, not me, that mentally exhausted people make measurably riskier and more impulsive financial decisions and/or are not able to avoid necessary decisions entirely. Like, they can't do the avoidance of the decision. They will always make an inherently usually poor decision, but more impulsive decision. When I, when I lay that out to you, what... where does your mind go with that?

Dr. Preston Cherry

Uh, yeah. That goes immediately right next. We're both business owners, and we're both husbands and fathers, and, and what that goes to me, if I ain't had no sleep, then you know somebody Oh, if something comes up and I... A, I'm not gonna make a whole, uh, the best decision perhaps because I'm, I'm lacking. And this is a human element, but business owners in particular, since we're talking about them, there's so many stresses. So if I haven't had any sleep or something like that, my decision-making is not gonna be good. And also too, my judgment, my clarity, uh, my, uh, you know, who, how I work with folks, so my compatibility is gonna be off. So the culture may be off, the energy's gonna be off. And so what we're talking about here is capacity. We're talking about s- self, uh, healing and, you know, dealing with the self You know, it's almost therapy of the self. It's taking a break, waking up with a, some sort of a regimen. Uh, how about not checking your phone? I, I, I'm... When, when I check my phone every morning before- that's the first thing I do, it's, it's not my day is terrible. However, I do see a difference to where when the first thing I do is I, I say good morning to my wife and son, I give some gratitude out loud, I do some stretching, uh, I take a moment as, you know, some silence, some, some, uh, solitude, uh, I'm- to take a walk perhaps. Uh, you- it's wherever that is in, throughout your day. So it's about self. Or maybe writing in a, in a, a few sentences in a journal. You don't have to sit there and write a whole book. I mean, literally three, three sentence is... You might have something that's heavy on the heart or heavy on the mind, it's like, man, get it out so you don't have to, uh, you know, pull a Queen Latifah move from way back in the day. She goes, "Take these Excedrin before you have to cuss a MF out," right? So, so yeah, y- you wanna settle yourself. You wanna say out loud, particularly for business owners, you wanna say, you know, uh, your entrepreneurship is, is, is very challenging sometimes. It's not always a flex. Uh, you say, "Oh, I don't have any bosses." Yeah, you do. They're called clients. Right? And then, and then you also have your responsibilities, you know, for your home and all that, you know. So it is t- to that stat- you know, that, that line is, is, is very, uh, relevant, uh, to capacity and what you need, how you need to handle or self-care in order to do the other care, you know, for other folks in your business.

Stoy Hall

Well, now we're done with that segment. What's, um, what's a good exercise to figure out your capacity, right? Like you've been through it. I, I don't know if you've done one that written down or you have it, but we all think through it. Like when did it like, uh, occur to you that like, oh, okay, my capacity's reached for a day. I gotta figure out how to either expand my capacity or understand that I actually do have a capacity. 'Cause folks, we all have it.

Drill Deep, Not Wide: Dr. Cherry's Burnout Reckoning

Stoy Hall

We all have certain brain energy. We only have so much capacity in a day. Don't care who you are or what you do, you have your own limit. But do you know or have you thought through like how you figured out your capacity?

Dr. Preston Cherry

Well, this is one of those things, Stoy, that if you don't figure it out, uh, uh, it's, it's gonna be found, it's gonna be figured out for you. And bitch, it's just real. It's just, that's just real, you know? And I could te- and I could say that from personal experience. I know you can as well Uh, I- I'll give a personal story. Uh, you know, recently I decided to focus on my wealth management business and my speaking platform. Uh, just a s- few short six months ago, I had those two items along with running a, a, a university financial planning program, to teaching, and, uh, doing a- all type of, uh, pro- professional non-paid work, uh, mentorship, uh, writing in the media, all this other stuff. So, you know, my plate was loaded, and for a number of years. So, uh, I'm-- I like to tell the audience, I'm 47. I- when I started my, this phase of the journey, people said, "Well, man, Dr. Jerry, man, you, man, you, you somebody now." I, I'm like, "Well, it's been 10 years in the making," you know? And m- and maybe even longer than that, to be honest with you. Probably 20 years, right? And so my, my point is, uh, 47 ain't 37. And so when I had all that in my, on my plate, then I was like, "Man, shoot, I just outworked this bad boy," and I, that's it. 'Cause I had all that energy. Man, I'm, 47's not old, but you know, I, I, what's, what's the main saying? I ain't got no time for that. Yeah. So what it did was, it been, this is one of my substacks, it's like I burnt out. So when I said that if you don't find, figure it out for yourself and, and do that, uh, that processing and that audit, then it's gonna be found out for you. Because you're gonna feel the weight of having too much on your plate, uh, not having, uh, the, the direction that gives you fulfillment. Uh, it's something-- And, and running your capacity low because it's split. Uh, speaking of the, the, the Michael Jackson movie, I haven't seen it yet, I'm about to go. But the point about, but I know everything about Michael Jackson 'cause I'm, I'm a big fan. But the whole point about it is, is uninterrupted, uh, sc- uh, time in order to work on something, right? Singularly, right? So when you do that, these are the outcomes. So you singularly work on yourself and your family. It's all in one. You work on that, and you work on one element. You know, if it's y- that what's your business? You know, if you have a side hustle, that means your main hustle got, it ain't, you know, it, it ain't as stable, right? So what is that, what is that one thing that you need to be focused on? Drill, uh, uh, deep not wide. Drill deep, not wide. So you can have the capacity to, uh, do business, uh, make good

The Gap Between Knowing and Doing Is You

Dr. Preston Cherry

decisions, be a leader in your family and your business, and not, uh, uh, just rub the stub so low that you don't have... Your, your capacity is split so many different ways, Stoy, that you don't have enough capacity for any of the domains because it's so low.

Stoy Hall

And folks, as we wrap this thing up, the, the difference between, I guess you should just say the gap between knowledge and action. Most of us know what we need to be doing or should be doing or have an idea of it, and we know most likely what it's gonna take to get it done. That gap that's stopping you right now from achieving whatever goal that may be is all mental. It is all a mindset shift, and a lot of that comes down to the fact that you are exhausted, you are tired, you are thinking, "Well, what if I just did this?" But then you start scrolling. All of those things. That is the gap. The gap isn't typically you don't have enough knowledge and you don't know what to do. There's too much content and research out there that is very easy for you to get to. The gap is you. So take time now to dig deep. Go straight down. Don't go wide like Dr. Terry just said. Let's go deeper. Let's go down. Figure that out for yourself. And you don't have to do 37 to 47. I'm 37, he's 47. See how we're talking about this? Uh, it, it could switch quicker for you. It could be the next six to nine months. But it does take that work, but it has to be singular. And I know this 'cause I use it on my boys all the time. You got chores to do. Don't try to do them over the course of a day because you aren't gonna get 'em all done. Then I'm about to yell at your ass. Let's focus and get 'em done in the 30 minutes, 'cause that's all they take. All right? I appreciate you, Dr. Terry. And hey, everybody, he, he slightly put it in there. His Substack. Come on now. Yeah, yeah, Substack. Come on, that's a great one. Got a

Dr. Preston Cherry

Substack, got the podcast on YouTube.

Stoy Hall

Yep. Follow his brother. Let's, let's get at it. I really appreciate it. Folks, I'm on Substack too, and there's only a few of them that I actually will comment to and, and, and use in both my own content and my own self, and Dr. Terry's is definitely one of them. So make sure you check that out. Um, we'll have all his links and everything, as you know this. But he's getting back into podcasts, getting back in the booth, got everything running. Um, make sure you get at it.

NoBS Wealth

The preceding program was sponsored by Black Mammoth. Any awards, rankings, or recognition by unaffiliated third parties or publications are in no way indicative of the advisor's future performance or any individual client's investment success. No award, ranking, or recognition should be construed as a current or past endorsement of Black Mammoth. Information regarding specific awards, rankings, or recognitions is available on the Black Mammoth website, www.blackmammoth.com. All investment strategies have the potential for profit or loss. Investment strategies such as asset allocation, diversification, or rebalancing do not assure or guarantee better performance and cannot eliminate the risk of investment losses. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. This broadcast should not be construed by any client or prospective client as a solicitation to effect or attempt to effect transactions and securities or the rendering of personalized investment advice due to various factors, including changing market conditions. The information discussed in this broadcast may no longer be reflective of current positions or recommendations. While information presented is believed to be factual and up to date, Black Mammoth do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. The tax and estate planning information discussed is general in nature and is provided for informational purposes only and should not be construed as legal or tax advice. Listeners should consult an attorney or tax professional regarding their specific legal or tax situation. Past performance is not indicative of future results.

Podcasts we love

Check out these other fine podcasts recommended by us, not an algorithm.

Planning & Beyond® Artwork

Planning & Beyond®

Ashley Quamme
The Out and About Podcast Artwork

The Out and About Podcast

Out and About Communications
MONEY WITHOUT MATH Artwork

MONEY WITHOUT MATH

Karen Coyne, CFP®
Demystifying Money Artwork

Demystifying Money

Misty Lynch