Episode 160: Personal Planning. A Practical, Proven Process for Entrepreneurs.

This episode, the guys dive deep into the concept of 'Life 3.0,' an era post-business exit where entrepreneurs can create meaningful, fulfilling lives into what some may call retirement. They discuss the importance of personal planning alongside business and financial planning, offering a comprehensive roadmap to better wealth and well-being. Key topics include the importance of time as a finite resource, the concept of 'who not how,' forming a robust personal planning team, and practical steps for life optimization through various asset classes such as health, relationships, superpowers, and values. The episode also underscores the significance of experiences and provides actionable steps to kickstart the journey towards a fulfilling life post liquidation event or sale of the company.

To learn more about some of the programs recommend for self assessment, here are the various links. "Print" can only be performed through certified professionals. 

Clifton Strengths

KOLBE Index

Working Genius

Chapter Timestamps

00:00 Introduction: The Finite Nature of Time
00:36 Welcome to the Wealth Journey Podcast
01:01 Gratitude and the Concept of 'Who, Not How'
01:22 The Exit Planning Conference Experience
02:25 Collaborating with Cultivate
04:56 The Importance of Small Steps
07:46 The Personal Planning Process
09:24 Building Your Personal Planning Team
13:34 Understanding Yourself Through Assessments
31:24 Exploring Natural Strengths and Working Genius
33:13 The Power of the Clarity Compass
34:41 Identifying and Leveraging Your Superpower
39:14 Optimizing Time and Health Assets
42:34 Building and Auditing Your Health Team
46:38 Enhancing Relationship and Values Assets
53:44 Experience Asset Planning
56:40 Integrating Money and Whole Wealth
58:47 Immediate Action Steps for Life 3.0
01:01:46 Conclusion and Final Thoughts

Learn more about The Whole Wealth Journey and get periodic updates or helpful content by getting on our email list HERE. Entrepreneurs, exit strategies and personal financial planning before the sale are topics you can count on every episode. You can follow us on Instagram @thewholewealthjourney.

Transcript

Matthew Grishman: [00:00:00] We have a finite amount of time and we don't know how much it is, and we completely don't know when we're gonna be out. Right? Could you imagine having a 401k account that you're drawing money off of and you have no idea when the day comes that you're gonna run out? I mean, that would be the scariest shit in the world when it comes to financial planning.

So why is it that we look at this one asset in our life and don't realize that not only is it finite, but it's gonna run out one day and we won't see it coming?

Hey, what's this whole Wealth Journey podcast thing all about? 

Jim Gebhaardt: It's a podcast for entrepreneurs where we're trying to help them connect the meaning with their money. Who are you? Jim Gehart. 

Matthew Grishman: Oh, I'm Matthew Grishman, and we're a couple of financial guys having a. Not so traditional financial conversation called the Whole Wealth Journey.

Here we go.[00:01:00] 

What are you grateful for today, brother? 

Jim Gebhaardt: Oh, I was hoping you were gonna ask me that. Oh, 

Matthew Grishman: yeah. Yeah. Were you like waiting all week? I've 

Jim Gebhaardt: been sitting here chomping in the, uh, the bullpen. Just waiting to 

Matthew Grishman: answer 

Jim Gebhaardt: that one. 

Matthew Grishman: Attaboy. Well fire when ready. 

Jim Gebhaardt: We have talked a lot about, and we'll continue endlessly to talk about this concept of who, not how.

Oh, yeah. That's not a new concept. Not a new concept. And back in May, you and I went to one of those things in a big building where lots of people gather, I think they call 'em conferences, right? Conferences. So we went, as we do with most things, with great intentionality around exploring the field of who's, and specifically in this, in this work that we're very passionate about with regard to exit planning.

This was an exit planning conference. You and I are more than qualified in the lanes of financial planning and personal planning. I might go so far as to say we're some of the best in the world at it. The business planning is a completely different [00:02:00] animal. There are specialists in that area, right. That we wanna collaborate with.

Right. We went through that maze of people with all the tables and all the, you know, they're hawking their wares and their services and their this and their thats. And we, I, we listened to this one breakout from this company called Cultivate, and we were like, huh. Yeah. That sounds like the kind of people that we want to go get to know.

Well, fast forward here we are four months later, three months later. Early May. Early May, so we're almost four, four months. We're Labor Day ish. Four or five 

Matthew Grishman: Monthsish. Yeah. Labor. Labor. 

Jim Gebhaardt: We've gone through our own due diligence process with, you know. Who they are, what they do, why they do it, all that good stuff.

And we've decided to collaborate with them. But start with us first, right? As you and I so often do, we are going to experiment and do our own due diligence on whatever the solution is before we're gonna recommend it. And you and I, I [00:03:00] think, are excited about the ability to be able to refer them and introduce them to some of our entrepreneurial clients that need this kind of strategic consulting for the business to really get into the business and really do what they do.

Matthew Grishman: Blind spotters. Mm. Huge blind spotters in the business of, oh yeah. 

Jim Gebhaardt: So you and I are just coming off a call yesterday with our consultant, Michelle, who works for Cultivate, and I am so incredibly grateful. For not just Michelle specifically, but for the WHO that has shown up in the role that they're playing on our team and helping us with blind spots in our strategic planning.

We just had a retreat, you, me and Allison. Allison is our Chief Operations Officer and we went away for three days to do a little strategic planning and getaway and went through this whole exercise with, you know, KPIs, right? Key performance indicators. Sure. And to our entrepreneurials who munch this stuff for breakfast every day.[00:04:00] 

You can probably sneeze and come up with three or four KPIs, but that was kind of new terrain for us. This isn't something strategically that we've ever really identified. And for me, the confidence that this is giving me in terms of our focus and where we're headed and what, where, where we need to spend our time, our effort, our energy, our resources.

Is that has been an unbelievably vital who that showed up. Absolutely. And they wouldn't have shown up if we didn't put our shoes on and get out the door. 

Matthew Grishman: Thank you for sharing that gratitude. 

Jim Gebhaardt: Yep. We, we talk a lot about, you know, when the teacher's ready, the student will appear. In this case, when the student is ready, the teacher will appear.

Right. I just love it when you set an intention. We, we did. We went to that conference not knowing who we were gonna meet, 

Matthew Grishman: but we set an intention that there is a who we wanna meet and we did. Yes. 

Jim Gebhaardt: Funny how that happens. Right. What are you grateful for today? 

Matthew Grishman: Well, speaking of small steps, that's my [00:05:00] gratitude.

I'm grateful for small steps. What I mean by that is I have been challenged my entire adult life to change my behavior by changing my mindset, and yet I've always been challenged by that. It's never really been something that's clicked for me. Then one day I was taught that to change my mindset, I need to change my behavior.

Action will lead to better thinking versus better thinking leads to better action. For me, I'm just saying, you know, my personal, what has worked for me is this thinker, this brain of mine, which is the thinker that has gotten me in trouble over the years, is not the same thinker that can think me out of those bad ways of thinking that I used to think.

I've had to act my way out of that, I've had to take action and do things to change the way I see and think about things. Just about two years ago, [00:06:00] I was recovering and in some of the worst condition of my life, about 

Jim Gebhaardt: the time this episode drops is gonna be right around your second anniversary, 

Matthew Grishman: almost the two year anniversary of the surgery, a month after the surgery, sitting in my house staring at a wall, wondering how am I ever going to.

Get my health back, let alone I went into the surgery not in the best condition. I was one of those business owners that kind of put myself down the list, a little bit of priorities and took care of everybody else instead. And, you know, this was a, a great thing that happened for me because it helped me reprioritize putting my oxygen mask on first.

But I'll tell you, sitting in that recliner chair in my family room, staring at the white wall, looking at this massive project called Getting My Health Back was a near impossible thing for me to get my head around. And thankfully, somebody taught me the secret to eating a massive elephant. The secret is one bite at a time.

And where that has come to help me is [00:07:00] that somebody said to me, Hey, stand up. Put on your shoes and step outside. And that's how I got unstuck. I stood up, I put on my shoes, I stepped outside. I took a huge deep breath. I turned around, walked back in my house. Amy had to take my shoes off for me because I was so exhausted.

This week in the gym, I'm stronger than I've ever been. 

Jim Gebhaardt: I might go so far as to say you're in, not just stronger, you're in the best shape. Oh, you've ever been? 

Matthew Grishman: Best shape I've ever been, and my goal was by 55 years old to be in the best shape of my life, and I'm pretty much already there two years ahead of time.

But I had to start with this tiny little step of putting on my shoes and stepping outside. The secret to that, that I've learned, because now I get to help other people do this. You and I get to help other people do this. We're doing that with this show, and we're gonna do that with this episode today, because we're gonna get into how we go about the personal planning process.

And again, I'm gonna be a little bit of Billy Crystal's character. And when Harry Met Sally, which by the [00:08:00] way, his name, what's his, what's his character? His name is 

Jim Gebhaardt: Harry. What's his character's name? His 

Matthew Grishman: character's name is Harry. How? I mean, how many times have I told that story on the show and in life?

And I'm like, I can't remember what his name is. Well, you know, it's only in the fricking title of the movie. 

Jim Gebhaardt: It's all good. 

Matthew Grishman: But like, you know, like Harry kind of knowing where we're going, right? He always reads the last page of the book before he reads the book. So I'm gonna tell you, the little trick to putting on your shoes and stepping outside is physics.

An object that gets in motion stays in motion. That's the trick to the little small step to the fact that you only have to get the anchor up an inch. You don't have to get it all the way in the boat to get yourself in motion. So I'm super grateful for the small little steps that accumulated over time and led me to where I am today.

That's beautiful. Super duper grateful. Alright, where are we going today then? Alright, so 

Jim Gebhaardt: on the how campaign, 

Matthew Grishman: we're getting deep into really the core framework and, well, I said deep we're, we're gonna start from 30,000 feet and we're gonna work our way [00:09:00] down a little bit and get into the different phases.

We've got really, what is it, three different phases we're gonna get into today on how the personal planning process happens in our practice. And first and foremost, I mean, again, this goes to the theme that we've been talking about for a long time now. This kind of who, not how, I mean that's really what phase one.

Of the personal planning process is all about, it's about who assembling your personal planning team and you know, what does that look like? I mean, you've said it we'll. Say it again. Personal planning is not a DIY project. There's way too many blind spots, way too many jackpots. You have to start with who, and for us, we've found success in building a personal planning team.

And, and really the way the architecture starts is with that very critical quarterback role. And this is the role that you and I enjoy playing the most. A hundred percent. This is where we get to be the primary planning partner. We [00:10:00] organize the collaborative group. We go out and, and do a little 

Jim Gebhaardt: audit of their team, the client's team.

Absolutely. Who do they have? Are they the right fit? Are they in a, a stage with. Their consultancy and what they do for our clients that still fits what our client needs. Absolutely. Right. I'm thinking of a client last week where we got into a pretty nitty gritty detail financial planning wise, not necessarily in the personal planning side of things, but it was very apparent that they had kind of a ghost in the estate planning department.

So we're in a process of introducing them to more than skilled and talented and, and respectable professionals that can help fill that. So we like to do a little audit of Oh yeah. Of the client's team. What's working, what's not working. 'cause all the while we are always looking for new, who's ourself that we can collaborate with.

Sure. So we get excited about playing that quarterback role and helping 

Matthew Grishman: [00:11:00] identify, you know, what's needed. Well, there there's four other categories of who's. In some cases will play the role in some of these other categories, knowing that, you know, the quarterback role is really our bread and butter, but you have the clarity providers, the assessment specialists, the experience guides, and the accountability partners.

So what do they each do? The clarity providers, right? When we talk about the very first thing you get from the personal planning process, it's clarity. Well, that's not gonna come all by yourself just sitting with us. The quarterback. There's a team of people that may or may not get involved in the clarity process.

Jim Gebhaardt: It's also not gonna come from sitting in your lazy boy looking at the white wall all by yourself. No, 

Matthew Grishman: it did not for me. And it took me a minute to get out there and find these clarity providers. 

Jim Gebhaardt: Yeah. 

Matthew Grishman: Yeah. In my world, that's okay. Yeah. It's, it's therapists. Mm-hmm. It's potentially psychiatrists, it's coaches, it's trusted friends who've been through this [00:12:00] before, and 

Jim Gebhaardt: sometimes that may be the easiest place to start.

Sure. Right. Is having a peer, having a friend, having a relative that has gone through a successful exit and is the embodiment of a life 3.0 that is something you aspire to. Sure. Right. And it isn't necessarily all just, you know, comfort in rainbows and butterflies. Yes. Right. That they're still trying to grow, they're still trying to stretch themselves.

That's, I find, if we're gonna go pick on a who to start with, that's one of the easiest twos because sourcing a therapist, sourcing a coach, life coach, sourcing a psychiatrist, that's gonna take a little time. 

Matthew Grishman: It is. 

Jim Gebhaardt: Unless you've and our anxious entrepreneurs really want to get in motion. Sure. 

Matthew Grishman: So that's gonna take a lot of time if you're trying to figure out how to get that person yourself.

If you reach out to us Sure. We might be able to shortcut that for you because I still believe whether it's our financial planning part of our practice Yep. Or the personal side of our [00:13:00] practice, this is one of the most valuable things our clients pay us for. And our exit planning institute folks, which is the network that you and I have built of who's, because you and I in the second half of life have finally figured out it's not how, it's who Trust your catty.

Abso. Absolutely. So once we get the Clarity providers, there's another whole group of people that are going to help us. Really do some assessments as to where we actually are. We can't figure out where we're going if we don't do some of the left brain work of analyzing exactly where we are. And so bringing in some assessment specialists, people that can administer things like Kolby and print and Clifton strengths and working genius.

These, I know these are all foreign concepts to many in our tribe. Yeah. These, these 

Jim Gebhaardt: words are gonna sound like crackers, andraza, andro, and snide. 

Matthew Grishman: Exactly. So spend a minute looking at what these different assessments are. Yeah. Or get in touch with us. We can talk about what some of these assessments are, but these are the [00:14:00] assessments that are gonna help you start to measure the amount of clarity, confidence, and capability that you currently have, so that you can ultimately see the gap in where you need to go.

Right. We're we're big fans of data. Oh, totally. And this is data about getting to know yourself. 

Jim Gebhaardt: Yeah. Kolbe as in K-O-L-B-E. You can go to kolby.com. 

Matthew Grishman: There you go. 

Jim Gebhaardt: Clifton, C-L-I-F-T-O-N. Clifton Strengths, and then Print Capital. Yeah. Just as it's all in 

Matthew Grishman: caps, right? Yep. Absolutely. Yep. And these are, 

Jim Gebhaardt: these are wonderful tools that you and I have been working with for years.

Personally. We've been using them in our team. We've been using Kolby with our clients for 20 years. And the whole part of it is to just have a better understanding of your natural style. Of your natural strengths. I think a lot of people get worked up with taking an assessment as a test, right? It throws them back into seventh grade English with Mrs.

Kier, who's going to test them on [00:15:00] the prepositions, right. And hit you with a ruler over your knuckles. If you don't do well, there's no rights or wrongs to these assessments. There's no, it just, you're you, you're holding a mirror up to your innards Sure. To be able to see who you are. At a very core level.

Yes. And what we found when we sit with teammates and clients, so that have gone through these assessments and they go, oh yeah, that's me. Oh yeah. Oh yeah. I totally, oh no, I do that. 

Matthew Grishman: Oh, absolutely. 

Jim Gebhaardt: And it's, it's funny in a, in a little revolutionary way because you know, sometimes these folks have been around the block for six decades and they're just.

Coming to the realization of some of these natural habits, natural aptitudes, natural ways of doing things. 

Matthew Grishman: Sure. Because they're familiar. I mean, anybody who's been in the business world for a minute or two is familiar with things like the Myers-Briggs assessments or the disc assessments. Right. We've all gone through that and, and those are a [00:16:00] little cumbersome and they're nice and they don't really tell us much about ourselves.

Other than if I take it multiple times over years, it's going to change. What I like about these specific assessments, oh, you're gonna use my, one of my favorite words, print, Clifton Strengths, Kolby and Working Genius. They're all trying to tap into more of your conative wiring, excuse me, Uhhuh. It's the wiring that's kind of preset.

That just doesn't change over time. Even as we evolve as humans, these are kind of our core tendencies in, in how we react, how we tend to handle problems, how we tend to collaborate with each other, how we tend to see partnerships in our lives, and they're just really great assessments to understand more about how you act, how you react, how you ProAct.

Jim Gebhaardt: Accountability is such a big part of this, right? Once you get in motion on this, having someone that you can kind of lean on when you don't feel like putting your shoes on and [00:17:00] getting outside, right? Those accountability partners. Do a little audit on that too. Is it your life partner? Is it your, your best friend?

So I've come to the, none of this 

Matthew Grishman: is have to brother. This is all very suggestive. Let let, let's be very clear. Sure. This is, none of this is have to, we're just simply sharing our own personal experience, right. That we've personally experienced and the experience of clients that we've taken through this process.

So this is all suggestive. It's not have to kind of like, if you're going to jump out of a perfectly good airplane with a parachute on your back, we suggest you pull the rope. Just a suggestion. Sure, sure. It's just, just like that. Yeah. Just like that. Yeah. There are people who are important. People who are essential to this process.

And we've talked about the quarterback, the clarity providers, the assessment specialists, the accountability partners. And last but not least is the experience guides people living the life you want to create. We learned a long time ago that if we want [00:18:00] to live a certain life, if we want to be the very best at something, go find whoever it is that is the best at that right now and go literally copycat the way they live their life if possible.

Get to know them a little bit. Absolutely. And ask if you can learn from them. Absolutely. So this idea of who not how a bit of 

Jim Gebhaardt: a revolutionary concept in today's age. Unbelievable. Right. Oh, wait a second. They appear to be living a life that I want. I covet. 

Matthew Grishman: Yeah. 

Jim Gebhaardt: So let's go get to know 'em and explore that a little bit and be curious with their journey.

Be curious with how do they deal with life post exit? How do they fulfill themselves? What are they building? What are they reading? What are, are they still going to those conferences? 

Matthew Grishman: How do they eat, sleep, dress, [00:19:00] walk, act, behave. Yeah. Treat one another. Yeah. How do they think, how do they feel? Right. Get to know everything about that person.

Yeah. And have curiosity be your guide. So once we tee that up, right, we, we, we tee up the personal planning team architecture. Then we take you through a framework that helps you start to inventory who these people are already in your life, if you have some of these people in your life already, and where in your life they exist.

So we call it our concentric circles exercise. 

Jim Gebhaardt: I love this exercise and when we introduce it to clients. Sometimes to me it feels like they're old pair of slippers that they forgot they had. They're like so far back in the closet, they forgot they had 'em and then they find them and they're like, oh, there they are.

Because one of our favorite Cs, they start to have clarity. Right? I I, there there's this one guy in particular, Matt, it's not you different Matt. I got a lot of mats and I got a lot of Kevins [00:20:00] and I got this one guy, Matt, who our kids have grown up together, not like vacationing together and all that, but they grew up on the pool deck.

They went to the same elementary schools. We've gone to the same soccer meetings and the PTA meetings and the parties and the, and whenever I see 'em I'm always like, oh yeah, hey, it'd be good. Let's do that. Let's get together. I've always had a little guilt over that Oh. Until we kind of developed this exercise.

Sure. Because I think most people. And I'm thinking of another very dear friend of mine, Joanna, who has every friend on the planet since she was in first grade. Right? 

Matthew Grishman: Every sock she's ever paid 

Jim Gebhaardt: for, she still has in her sock drawer. No, that's not so much. Figuratively. Figuratively. Thank you. And she has just recently started to go through a bit of a thinning exercise.

Ha ha ho. This is news to me. Yeah, nice. And I'm [00:21:00] ecstatic for her to have the courage to do that because she's come to the realization that, you know what? Not every one of these relationships in this concentric circles exercise, and just let's visualize this together. 

Matthew Grishman: Well, it's a big dart board, right?

It's a 

Jim Gebhaardt: big, yeah. It's a big dart board. Where in the absolute center of the bullseye are the most absolute trusted people in your life. 

Matthew Grishman: Well, the, the very center of the bullseye is you. 

Jim Gebhaardt: Oh, sure. 

Matthew Grishman: Right. The, so if you think of a dartboard, the, the a hundred points, the red.in the middle, the bullseye, that's you.

Yeah. You nobody, you're not gonna have a relationship with another human being that is more intimate than the relationship you have with yourself. You know yourself, hopefully in, in a way, ideally in a way that is virtually impossible to know anybody else because you're in your own head and you know what you're thinking.

Right. So that's the closest relationship you can ever have one band out for that. So again, imagining the dartboard. Now you go from the a hundred point bullseye to the 75 pointers. 

Jim Gebhaardt: That's your inner circle. [00:22:00] Yeah. That is your immediate, immediate family. 

Matthew Grishman: Well, it's what we call the 2:00 AM club. 

Jim Gebhaardt: Yes. 

Matthew Grishman: Right. I was getting there and it may be the immediate family, it may be by blood and I mean immediate.

Right. Like those that you are closest to. So I like to think about if it's 2:00 AM and I'm in trouble and I need somebody to show up with $5,000, those people who would do that without asking questions are on that list. The 2:00 AM list? Yeah, the inner circle. 

Jim Gebhaardt: That is a specialist of people. 

Matthew Grishman: If you have one of those in your life, you're fortunate.

I did my inventory recently. Mm-hmm. I have 22 people in my 2:00 AM list. Mm-hmm. Yep. That felt awesome. 

Jim Gebhaardt: Yep. I'm not sure I'm at 22, but I'm definitely above 15. Nice. I'm below 22. Nice. When you start to have that conversation with someone, like would really stop and think about someone you could call. And then I [00:23:00] think, I think the inverse is also true.

Who would you do that for? Right. Who? Who's 2:00 AM list for you on? It's, it's reciprocal. Sure. Right. And if they're on your list, you better goddamn well be on your, on their list. You know, you probably are right. Hope so. Yeah. And I love the energy that comes from that because you, we meet all these people and we gather all these friends and relationships and contacts over the course of our lifetime and we somehow think that they all need to be priority.

I gotta make time for everybody. Everybody. Sure. Everybody. 

Matthew Grishman: I am one of those very, very blessed, lucky people who has lots of people I wanna spend time with and not enough time in the day. To do that. 

Jim Gebhaardt: It just, it so you don't run yourself ragged trying to spend time with all those people. I used to, 

Matthew Grishman: oh, and I still sometimes catch myself doing it, saying yes when I shouldn't say yes.

But then I go back to my concentric circles and I look at where people are prioritized in my life and it becomes a lot easier for me to say no. When we get outside the [00:24:00] 2:00 AM circle. Now we're getting into what I like to call the trusted friends and family. This is where, you know, people, they're close to us.

These are people who have kind of stood the test of time in our relationships. Yeah. They have 

Jim Gebhaardt: meaning in your life 

Matthew Grishman: and they're people that I'm gonna continue to be close with. It's a lot of my family is here. A lot of my extended family, they're, they're always going to be part of my life. They may not be the first priority like the 2:00 AM club or even more so myself, but they're always going to be more of a priority than the next band out on the concentric circle, which is our situational friends.

This is where we meet everyone. 

Jim Gebhaardt: Yes. Every human stay there. And move inward 

Matthew Grishman: or they come there and go out and they bounce out. Right. So every single person we're ever gonna meet in life is going to happen because of a situation. That's my friend Matt kids are on the same swim team 

Jim Gebhaardt: who, who was in that circle for a long time.

Yeah. Kind of moved into that trusted friends category. [00:25:00] I betcha he could have been, you know, number 22 or three or four on the 2:00 AM club. Like if I, if I called Matt and said, dude, I'm in a sitch, as my kids would say, I need 10 grand now, he'd probably wire it. You, I think he probably 

Matthew Grishman: would. But something has kept you guys apart from having that relationship.

Yes, exactly. So I would challenge you and I just, 

Jim Gebhaardt: I always used to struggle with like, oh, I, I 

Matthew Grishman: need to, I gotta spend more, but I don't Well, because the situation that brought you guys together is gone. Correct? 

Jim Gebhaardt: Correct. 

Matthew Grishman: So I would, I would push you and say he never got into the trusted friends and family circle.

But he was a great situational friend, 

Jim Gebhaardt: a hundred percent. And I no longer have any, as we haven't used this word in a long time. KU on the show good. Over where he sits in that ring. 

Matthew Grishman: Good. That most people, most people we meet, let's, let's make sure we're clear on this. Most people we meet as situational [00:26:00] friends when the situation is gone.

So is the relationship and we've gotta get 

Jim Gebhaardt: okay with that, whether it's personal or professional, 

Matthew Grishman: right? It and it, we just, we gotta get okay with that because that's just the way it is. So when you think about this from an asset allocation standpoint, right? If I think about my whole wealth and, and one of the most valuable assets in my whole wealth are my relationships and those relationships are connected to the financial decisions I'm going to make is someone who's a situational friend, inviting Amy and me, my wife and I to go on this, you know, 10 couple romp around Europe at 20 grand a person.

Is that an experience with those situational friends? I'm gonna invest that kind of time and financial resource and money into, if those are all situational friends, that really, if the situation's gone, it'd be nice. So are most of the friendships, 

Jim Gebhaardt: but it's not, it's not worthy of the investment. Right?

Matthew Grishman: Right. So, so you can see where identifying those concentric circles have specific [00:27:00] financial implications as well as how you allocate things like your time. So just like business and financial planning, this is not something we expect you to figure out on your own. So we guide you through this exercise where you visually can take an inventory of who in this personal planning process already exists in my life?

Who from these different circles could potentially help me get a little bit more clarity, confidence, and capability in my own personal plan for life 3.0 

Jim Gebhaardt: a fun little exercise is to take out, take out your phone. Go to your favorites. Oh. And scan through your favorites. There you go. And I'm gonna guess the vast majority of those are in your 2:00 AM club.

Not all of them. Most of them. 

Matthew Grishman: And if they are situational friends right now, they're probably gonna wind up moving inward to trusted friends and family or 2:00 AM club if they're on that favorites list. Yeah, [00:28:00] good call. Yeah, I, I'm gonna go take a look at that. I didn't think of that. Okay. Phase two, keep me around a little longer.

Well maybe we'll see. We'll see how the rest of the episode goes. So we've kind of covered phase one, which is really about establishing the who's. Now we're gonna get into the what's, and this is where we're starting to dive into the assessments and some of the discovery tools. And this is really all about knowing yourself.

This is all about inventory. This is no different than what we do on the financial planning side when you come see us. And we're trying to dive into the money part of your life. The very first place we start is by taking an inventory, not just of the money that you have, but the experiences you've had with money.

The stories around money. What was it like for you growing up with money? Did you have enough? Did you have too much? And, and we just, was it a 

Jim Gebhaardt: stressor? 

Matthew Grishman: Oh, absolutely. Or was it the grease that made the world go round for you and your family? It's the same thing here. This is all about doing both some left brain analytics as well [00:29:00] as some right brain exploration.

And since you've got the biggest, most beautiful left brain I know of, 

Jim Gebhaardt: uh, you always say that. I know you're nice to say that. I know, but there's a, there's a lot more right brain than left brain. Left brain is a learned skill. 

Matthew Grishman: That's what makes it so beautiful is that it is a learned skill. I know you've got a lot of right brain.

Jim Gebhaardt: Your, your, your left brain is pretty well developed too there, Sam. We're 

Matthew Grishman: getting there. Yeah, we're getting there. We're starting to like processes. So the, tell me about left brain analytics. 

Jim Gebhaardt: Well, these. These assessments that we were referring to earlier. So, you know, Kolby A is an, is an in kolby a index, specifically when you're on their website Print Clifton Strengths Working Genius.

These tools are all designed to help just bring light on your natural style, your natural strengths. And if you're stuck or you're feeling a lack of clarity, this is a wonderful place to start. Sure. Because it's going to probably remind [00:30:00] yourself of things that you already know about yourself, but just present it in a different way.

Right. I mean, the, the whole thing with Clifton strengths and the 34 different characteristics that it stack ranks, and if you ever get an email from you or me, we have them, you know, we, we put them out there 'cause it's just kinda like, oh, you have that one. Oh, I have that one too. Sure. It's a way to know a little bit about yourself and what are.

More top of mind and natural for you. I'm not gonna say strengths. Sure. It's And versus those things that are just really not as much of a natural priority for you. And I'm not gonna say weakness. Sure. And I love how they help start to give you a little context and a little clarity on who you are. 

Matthew Grishman: Well, they, they build on each other, right?

This is data-driven, self-discovery, and each one of these assessments they build on each other. That's, I mean, so if, if you're going to, which I don't recommend, if you're going to [00:31:00] reach out to these providers and try some of these assessments, there's a specific order that you want to go through these with, and first and foremost is the print.

Because print is where you understand your unconscious motivators. That's first and foremost. Like, how do I behave when I'm not aware of my behaviors? Right? What are those unconscious motivators? Then we build on Clifton strengths, where you're understanding your natural talents. And natural, natural strengths.

Right. Not in terms of strengths and weakness like you talked about. And then there's this assessment called Working Genius, where now we're, we're starting to identify the areas of energizing work versus frustrating work. 

Jim Gebhaardt: Yeah. That one what? That one very 

Matthew Grishman: interesting to me, and we haven't used this one as much on our team.

We're gonna start using it because of the power of finding out more from our team, our teammates, Hey, what part of your job really fires you up and, and what needs to be flushed down the toilet? Or better yet given to somebody else, either on the team or externally hiring somebody else to do [00:32:00] that kind of work because it frustrates you.

Jim Gebhaardt: Yeah. I mean we, we haven't talked a ton about the whole superpower concept. Sure. Right. The unique ability concept we're 

Matthew Grishman: getting there. 

Jim Gebhaardt: This is a much more, the working genius to me is a much more practical application of it. Right. Whereas superpower can get a little bit heady and a little fuzzy. Well, that's right brain.

Matthew Grishman: That's next. Right? Yeah. 

Jim Gebhaardt: But man, this, this just zones in on this is, this is work I could do all day long and I leave at the end of the day and I don't feel drained. Yes. Or this is work I was doing all day long and I am exhausted. Sure. 

Matthew Grishman: Absolutely. And then we finish with Colby a index, which is just naturally how you take action and solve problems.

Right. Instinctually how you act to external stimuli and take that action to solve your problem. So those are the the different analytic tools that we use when we're working with somebody to start this process of self-discovery. And they really set the foundation for the data that then frees [00:33:00] us up and gives us a little more confidence to slide across 

Jim Gebhaardt: the aisle 

Matthew Grishman: and get into that right brain side side and get into that 

Jim Gebhaardt: big beautiful right brain of yours.

Matthew Grishman: Absolutely. And this starts with what I think is our, our base. Our Our secret 

Jim Gebhaardt: sauce. Our 

Matthew Grishman: secret sauce. Yeah. It's, it's something we call the clarity compass. And you can go back and we've. Had a number of episodes both in the original financial sobriety show, as well as here in the whole wealth journey, where we've taken people live, live on, in, in an episode through the Clarity Compass, and we did that with, with Ace here, ACE and Theresa, our producer, and and his wife Theresa, as partner.

We took them through the clarity compass process on the show. It was so much fun. The idea here is understanding what your core values are. Really at the end of the day when your feet hit the floor, answering the question why, right? If the two most important days of your life are the day you're born and the day you figure out why, and you haven't figured out why yet, maybe it's time.

This could be a powerful exercise in helping you do that [00:34:00] because. We start with the clarity compass, and then we get into some journaling exercises using the output of the clarity compass to start really painting a picture of what that life could look like based on what you value most out of life. 

Jim Gebhaardt: And what is so fun about those exercises is how it starts to identify some action.

Small steps. Small steps. It starts to identify some accountability partners. Oh, yeah. Like the first ones that come to mind that are probably on your 2:00 

Matthew Grishman: AM club. Yes. Right. Spouses, business partners, your children, your parents, your siblings son, your grandson, your closest friends. Sure. Right. Then we get into my favorite, favorite, favorite thing, which is helping you identify your superpower.

What we do with that, with our clients. Once we get clear on what that superpower is, well now what do we do with it? Well, remember that list of people we [00:35:00] came up with in our concentric circles. Exercise. Well, we then create something called our hit list, which generally comes out of our situational friends.

Mm-hmm. Because these are people we've met along the way. They're curious or we're curious about who they are. Mm-hmm. We'd like to get to know them a little better. 'cause this is how we move from situational friends. Inward On the concentric circles. Or outward. Or outward In or out. Now, hit list is a very intentional acronym that stands for we're not helpful, not, 

Jim Gebhaardt: we're not talking, you know, about that kind of 

Matthew Grishman: thing.

Right. It's not somebody you're gonna put a, you know, fit 'em for some cement shoes and throw 'em in a river. These are people that are helpful H. They are influential. I and they are trustworthy. Ooh. TT, they do what they 

Jim Gebhaardt: say. Oh, that I was gonna say, how do you define trustworthy? 

Matthew Grishman: So of all the situational friends, yeah.

We've come across who in the situational friends list covers all three of those characteristics. [00:36:00] Helpful. They're the type of person that'll bring you, you know, some food if you're homesick, right? They're just, they're helpful, giving people, they're influential, they seem to be people that others pay attention to.

And third, trustworthy. They show up on time. They do what they say, they finish what they start, they say, please thank you. You're welcome. And when they make mistakes, they own them and fix them. Five very simple ways to determine if somebody's trustworthy. And those are people we want to go get to know and share the clarity that we found in this superpower.

So when we go spend time with them, I mean, this was something that was taught to me a long time ago. When I'm looking to figure out what's next in my life and how I wanna spend time, I'm gonna go get to know somebody on this hit list. And this is where we get to share our superpower. I'm going through a process of figuring out Life 3.0.

Whatever it is we discover is your superpower is what you lead with because why you do what you do is so much more [00:37:00] compelling than what you do or how you do it. Oh, a hundred percent. People don't care about your what and your how, but holy cow, could they get into your why? And that's what's going to help you uncover through this hit list, potentially pieces of what's next 

Jim Gebhaardt: and other who's now.

The best part is when you get to kind of integrate all of this left brain data, right brain data into a bit of a game plan. You've invested the time and the energy to look at the left brain. The data that comes out from those assessments, you've now invested the time and the resource and the energy into all those different aspects of the, the right brain exploration in terms of the clarity from the values that drive you that mean the most to you, to those journaling exercises that are gonna help you kinda get in motion and identify some of those early accountability partners to what is it that is your superpower and [00:38:00] doesn't need to be the full seven decimal place version of it.

It can be as beautiful and simple as I walk into a room and everybody compliments me and says, my smile changes the room. Sure. Changes the energy in the room. Sure. And then as you start to get into motion with the hit list, and you're starting to either expand or reconnect with people that you're curious about.

It is really fun to see what kind of comes from that whole process. 

Matthew Grishman: Well, this is what bridges us into phase three, which is the exactly the how part. Right, exactly. We integrate and then implement everything we've discovered in both the left brain and right brain analytics through the seven different asset classes of whole wealth.

Jim Gebhaardt: Well, that now starts to become a filtering tool, so that as you look at these different asset classes of your time and your energy and your relationships and your health and all this good stuff, it starts to help you understand where you're gonna go and, and what you're gonna start with. [00:39:00] Right. In the context of all the, all that, all that data analytics that we were just doing, it's gonna make it much easier for you to look at something like, you know, how do you optimize your time?

Right? How, how are you gonna structure your days when there's no longer 

Matthew Grishman: any structure? Well, this, this is the most valuable asset class because it's the only one of the seven. That is not replenishable. It's not renewable. We have a finite amount of time and we don't know how much it is, and we completely don't know when we're gonna be out.

Right? Could you imagine having a 401k account that you're drawing money off of and you have no idea when the day comes that you're gonna run out? I mean, that would be the scariest shit in the world when it comes to financial planning. So why is it that we look at this one asset in our life and don't realize that not only is it finite, but it's gonna run out one day and we won't see it coming?

When I was sitting on the gym floor, dude, I was not, I did not wake up that day thinking that, oh, today's the day. Today's the day that the lights are gonna go out. And yet, at [00:40:00] 7:00 PM on April 13th, 2023, an EMTs looking at me going, dude, you got three to five minutes left. If we don't get your heart rate down, wait what?

So I had no idea that that was the day my 401k was gonna run outta money. So how are you going to structure your days without all of that quadrant one obsessive, like Eisenhower matrix time. Right. If you're not doing that, how are you going to structure your time? 

Jim Gebhaardt: We've used this word a hundred thousand times on the show, and we're gonna use it a million times More intentionality.

Yes. Right. Having intentionality around how you're gonna spend your time. Right. The, the classic example of, you know, Bob and Martha are gonna sell the business and they're gonna move to Colorado. They're gonna build their dream house, they're gonna play with the grandkids, and he's gonna play golf two days a week, and she's gonna play pickleball or tennis.

Okay. Then what? That's great. Spend what, [00:41:00] because you were committed to the business in the 50, 60 plus hour a week commitment. And we need to now be much more intentional with our time and Sure. That may very well be where you start. 'cause you're, maybe you're burned out like our, our client Paul, who's retiring on October 4th.

Oh yeah. Well I just, oh, he picked a date signed. He did. He picked a date and I just signed his birthday card yesterday. 'cause we're, uh, we're good like that. Lindsay has this very organized on those kinds of things. And you know, bright, bright, bald bond, bald head goes, Hey, I know how he picked his retirement date.

Oh his birthday. Sure. What a happy day to retire. Right, right. And in his case, the guy's burned out. Right. I get it. And I'm confident that with our process, he'll have a little, you know, leisure time and a little r and r and then he's gonna wanna engage in this process because he doesn't know what's next.

He doesn't have a plan. Because he was so focused on the quadrant one activities. [00:42:00] He was not necessarily an entrepreneur owning his own business, but he was a C-level executive at multiple different companies. Wow. 

Matthew Grishman: That requires entrepreneurial thinking all day long and Yeah. 

Jim Gebhaardt: So he has not had the luxury of, of quadrant two time planning.

Right. As much as we've tried, and this time optimization is a, is a big deal. Being intentional with these various resources, whether it's time, whether it's health planning, and, you know, we, we talk a lot about the journey that I, that we've been on. I'm 

Matthew Grishman: Well, that's the second asset class. Right? Thank you.

So 

Jim Gebhaardt: I'm excited to talk about it. 

Matthew Grishman: Yeah. Planning about your health asset, how are you going to allocate your health resources? 

Jim Gebhaardt: Do your, do your little audit again, right? We just keep using this word audit. Look at your health team and you may go, ha ha ha. Don't have a health team. Right. Well,

you've been working with Jack the Trainer now for how long? 

Matthew Grishman: It was a year in June, so what are we on now? Yeah, months 16 or 17. Beautiful like that. 

Jim Gebhaardt: Maybe it's time for a trainer. [00:43:00] Maybe it's time for a yoga class. Maybe it's time for Pilates. Maybe it's time for a, a blood panel. 

Matthew Grishman: Well, I mean, I'll share, I'll, I'll share very transparently.

My health team consists of a primary care physician that I pay out of pocket. Right. It's not part of the system because I needed someone to be an advocate. And the big health insurance sponsored, I love our health insurance. It pays, I mean, $260,000 for this open heart surgery, I think such a deal. Right.

Cost me a $250 copay. Wow. So I'm, I'm grateful for my insurance. Wow. But it also comes with some trade-offs. Right. I, I don't have a primary care physician. That'll be my advocate. He's gonna put me through the system. So I have a primary care physician, I have a therapist, I have a psychiatrist, I have a couple's counselor.

I have a cardiac rehab team. I have a personal trainer. Am I leaving anyone out? I think that's my six. I might, yeah, it's probably a six pack, although if I really, really think about it, oh, and then I have my cardiologist. How could I [00:44:00] forget my cardiologist, who has also become one of my very best friends.

So lo and behold, I've got seven members of, of course you do. Seven members. Oh, and I was just reminded, sorry, I left Megan out. I've got eight. Megan is my massage therapist, and then there's Kurt, the chiropractor nine, who's been fit. In fact, I'm going to see him today at five o'clock for a little shoulder work, nine people on my health team that I invest in myself by investing in them.

And I am the healthiest I think I've ever been as a result of, isn't that funny? Some health asset planning. 

Jim Gebhaardt: Isn't that funny? 

Matthew Grishman: Ooh, funny. Ha ha. Like I'm a clown tracking like I amuse you. Or what are you talking about here? Tracking 

Jim Gebhaardt: and spending your time and investing in something that you want to improve.

Oh, so funny. Like curious. Yeah. Funny, funny. Like curious. Yeah. So do a little audit of your health team. Matthew just identified nine different. Possibilities in terms of people you may or may not need mm-hmm. To help you. 

Matthew Grishman: Absolutely. I'm going, 

Jim Gebhaardt: I'm in the, in the classic example of Right. The ship. I'm going through a [00:45:00] little reorg on my health team of trying to find the right physical trainer, outer boy to work with.

Yep. I have a lot of those other parts and pieces on my team filled out and I know what I want on the personal training side. In terms of the personal training relationship, I haven't found it yet. 

Matthew Grishman: Hmm. 

Jim Gebhaardt: I'm, I'm, I'm trying, I'm, I'm dabbling. Okay, good. And going to just see how it goes. And I've got two that I'm gonna do some workouts with and we'll, we'll reassess at that point.

But I know in my mind, I haven't been satisfied with the team that has been helping me in that area. 

Matthew Grishman: Mm-hmm. 

Jim Gebhaardt: And so you gotta have the, the strength and purpose to say no, that's not to my standard. I need to make a change. 

Matthew Grishman: Hire slow fire fast, right? I mean this. There you go. We're entrepreneurs building a team.

This is no different. There you go. Right. Okay. Third asset, the relationship asset. How do we develop this relationship asset again? And we've, we've talked a little bit about this with concentric circles. Do an [00:46:00] audit of your current relationships. And I would do it based on not just the concentric circles exercise, but when you look at the concentric circle exercise check to see who's in the right circle based on energy drain or energy gain.

Is this a human? So that's so easy. 

Jim Gebhaardt: It's instantaneous. 

Matthew Grishman: Do I get energy? Just see the person's name, right? And do, does it bring me energy to say their name and spend time with 'em? Or is it one of these 

Jim Gebhaardt: Uh Oh, 

Matthew Grishman: yeah. I mean we, so there was a, that's a quick, that's quick. There was a client we had, oh, we had gotten to a point, and I think we're pretty close now, where I remember saying to Terry in the office one day.

There's one client left here in Roseville that when this person calls, um, Mr. Mr. Burger King, I go, Ugh. And, and Terry looked at me and said, well, then he needs to go. If that's the reaction you have at the thought of him calling you today, then we are doing a disservice to him because he's not getting your most authentic energy.[00:47:00] 

If he's sucking the life outta you, he needs to go. And yes, Mr. Have it your way. And sure enough, the next time he came into opportunity, the office, the opportunity, the 

Jim Gebhaardt: opportunity presented itself. The 

Matthew Grishman: opportunity presented himself and that he behaved in a way that just was inappropriate. And I didn't like it.

And I said, time of death today. Yeah, we can't help you anymore. How about a values asset alignment asset class number four, your values, 

Jim Gebhaardt: well, this is talk about surcharging. Your confidence is that when you start to live in alignment with your values. First of all, it's gonna be a complete energy booster.

When you have the clarity of knowing what the values are that are most important to you, why your feet hit the floor in the morning, and then when you can start to look at that and go, where, where am I out of balance with that? And where am I in alignment with that? And as you start to shift that, oh, that's when I wanna sell the tickets.

Matthew Grishman: Think about making decisions based on that. Oh, instead of the [00:48:00] external pressures, we sometimes make decisions based on because of peer pressure with our friends, because our parents are demanding our, you know, business partners, spouses, what we see on Instagram and social media and the decisions we make based on, I wanna make sure everybody likes me.

I want to keep up, I wanna, I wanna, I wanna, but are they in alignment with your core values? 

Jim Gebhaardt: So you were just quite vulnerable in sharing the 95 different people on your health team, and I guarantee you. I absolutely guarantee you that there are people listening that have issue with that. In what way?

That are judging you for that. Oh, sure. And ask me the question. Oh, no, I'm, it's not about do you care? 

Matthew Grishman: That's, I love that. How, how you read my 

Jim Gebhaardt: mind. That's, that's not the question. I know. The question is, it's in alignment with your values. Yes. With health being one of the most important, if not the most important value in your clarity [00:49:00] compass 

Matthew Grishman: connection is number one, health is number two.

Jim Gebhaardt: So if we were to unpack this for a second and just go and, and I'm gonna pick on my wife, God bless her, how many times, and she doesn't do this nearly as much anymore and she doesn't do it with me, which I feel so unbelievably blessed, is that when we go to make an investment in our health, there's always a financial decision.

Always. And that financial decision used to kind of gum her up. Used to be a little bit of a, well, we got other, other things to spend that money on. She's so evolved and grown in her thinking on this absolutely. Hundred 90 degrees. I'm picking on the old way, the concept of a of the old way and the concept of hiring a personal trainer.

I would venture a guest that virtually every listener on this show would go, oh yeah, but that's expensive and we are going to go, no, no. That's costly. Yes, because there's a difference between something that's expensive and something that's [00:50:00] costly, something that's expensive. You don't necessarily see the value that's in it.

And I love the fact that we're using the word value on clarity compass. There you go. 

Matthew Grishman: Costly. 

Jim Gebhaardt: Whereas costly is an investment in something. A lot of money involved. A lot of money involved that you perceive to have a lot of value. Right. So in the context of this whole values alignment exercise, when we go through the clarity compass, and we, and 99% of the time our clients have health as one of their issues.

And whether it's joining a gym, whether it's hiring a trainer, whether it's joining the other gym that has the Pilates equipment that you're looking for, whether it's the massage, whether it's the therapy, whether it's the chiropractic. Did I get a few of them? 

Matthew Grishman: Uh, you got a few of them? Okay. Yeah. 

Jim Gebhaardt: Those are all investments in your health.

And now there isn't this financial impediment because now you are seeing it as a worthy investment in one of the values that is most important to you. 

Matthew Grishman: Yes. Bingo. Spot on. [00:51:00] Superpower asset deployment. 

Jim Gebhaardt: Super power. We need like theme music, right? We need like super, super superpower music. 

Matthew Grishman: Yeah. Superman. The super, the theme to Superman, John Williams.

I mean, come on. That's just one of the best songs ever. We talked about developing your superpower, not really developing it, but identifying it. Right. It's, it's already been developed. If you've been running a business successfully for years and years and years, there's, there's something that happens when you walk in the room that is palpable, that people who know you can easily identify what that is, and that's where so many of the who's that you've experienced over your lifetime are gonna be really helpful in this superpower identification.

We're not gonna get through how we do that identification. Correct. That's part of the secret sauce. Correct. Call us, spend time with us and we'll go through that together. Yeah. But the outcome of identifying your superpower is where you get all of those opportunities to figure out what's next with my time beyond the round of golf, the pickleball, the playing with [00:52:00] the grandkids, how am I going to have impact going forward as this entrepreneur builder?

Is it teaching, is it mentoring? Is it a consulting opportunity? Is that volunteerism somehow? It's creating something, using this unique ability that I've been developing my whole life. You're gonna keep 

Jim Gebhaardt: foster, you're gonna keep fostering that, that superpower, whether it's you start a foundation or you join a board, or you're mentoring or you join the Peace Corps, whatever it is, yes.

It's something that you do so naturally and hopefully by this point in your life, you know what it is, but a lot of people don't. Did I tell you I wanna 

Matthew Grishman: join the Peace 

Jim Gebhaardt: Corps? Are you coming out on the show and telling us that you're probably gonna do that next quarter? 

Matthew Grishman: Well, you made it, you gave me that option.

At least I won't announce it at a team meeting. Okay. I won't. We have one tomorrow. We Okay. I But you're, you're telling me I can't tell the whole team this yet? Not yet. Okay, great. We'll just keep it between, let 'em listen to the show. Okay. Perfect. We'll let that come out. How about, okay, our sixth asset class, this is, [00:53:00] this is a little bit of financial and personal planning overlap, and I love this part.

It's the experience asset planning. What do you wanna do? See, learn, create. What kind of experiences do you want to acquire going forward, and how do you wanna allocate? I mean, again, there's only so much time, so what is the priority for experiences? 

Jim Gebhaardt: We have a new client that you've spent a little time with.

This is one of my 44 Kevins. Oh. And we had a, in our terminology, we had an unpack conversation two weeks ago. He's at a very different place in his life. Posted divorce three years ago, and he's in a very healthy place today. I would say, in my humble opinion as a new friend, he's all about the experience.

That's all he envisions for himself the next 3, 5, 7, 10 years. Is experiences, and [00:54:00] he's an outdoorsman. So for him it's gonna be, you know, backpacking in the wilderness and hella skiing and mm-hmm. All these kinds of interesting experiences. And we talk a lot about this with our clients in the financial planning context when it comes to that travel bucket.

Right. That travel budget. 

Matthew Grishman: Yep. 

Jim Gebhaardt: And we really drill in on what are some of those lifetime, you know, if you, we want to use a bucket list or whatever for the context of the, the experiences you wanna have and you prioritize and you wanna go do them now. But Grace and Beth, were talking the other day and we're kind of done with giving like physical gifts.

Sure. Right. And it's birthday season in our house. We have three birthdays in the next month, and the two of them got talking and they're like, you know what, I've always wanted to take a pottery class. So the two of them are taking a six week pottery class that I think starts the Monday after Labor Day or something.

Nice. 

Matthew Grishman: Very cool. 

Jim Gebhaardt: And it's like, okay, where can you invest in experiences? And there are so many little, [00:55:00] you, we could go off for 20 minutes on all the little different tangential benefits 

Matthew Grishman: Sure. That 

Jim Gebhaardt: are gonna come from that little pottery class for the two of them. 

Matthew Grishman: Yeah. 

Jim Gebhaardt: So experience asset planning, I would say is one of, one of the, I mean we enjoy all this, but this particular little one is one where we can have a lot of fun with people because I, I had another financial planning client the other day where we got into this personal planning and they were like deer in the headlights looking at the concept of like, where they would travel.

It was just nothing. Like nothing was coming up. And it was so fa it was so fascinating to kind of just prompt them and, well, where, where's someplace you've been curious. Um, my dad was in World War ii. I've always wanted to go to Normandy. There you go. 

Matthew Grishman: Yeah. It's, it's who's, so anyway, it's who's helping people.

Blind spots instigate. Absolutely. And of course, last but not least, the seventh asset class that really kicked off both of our careers. And that's the money [00:56:00] asset integration. And we've got episodes out the wazoo in the rear view mirror and plenty out the windshield coming that are gonna get into more of the financial planning side.

But this is really about money as a capability, money becomes the tool that supports these other six asset classes and the ultimate delivery. That we get to help clients uncover is this concept of lifetime money barrels of being able to organize your finances. In terms of timeframes, yes, there's what I like to call the OPM barrel, which is other people's money, right?

That's maybe if we have any debt, any old college loans, medical school, school loans, whatever path we went down before we became business owners and entrepreneurs, A mortgage, right? There might be some legacy debt there. But then we have these more in the current moment, right? We've got the now barrel, the soon barrel, the later barrel, and potentially the never barrel.

And when you think about these five different barrels or buckets [00:57:00] of financial resource, we help people visualize based on these other six asset classes. Where every dollar and every financial resource fits in terms of timelines over their life. 

Jim Gebhaardt: Do you remember that great ad from ING back in the day?

They're no longer, they're now Voya, 

Matthew Grishman: international Netherlands Group or whatever they were called. 

Jim Gebhaardt: What's your number? 

Matthew Grishman: Oh yeah. And 

Jim Gebhaardt: they were walking around the town, like they had a boombox from the eighties on their shoulder and it was their number. Right. $1.8 million. Right, right. 1.8 7 3 5 6 7 4 2.

Absolutely. And I 

Matthew Grishman: think they ruined it. I mean it's a, it was a great commercial, but they, it was a great commercial. They ruined financial planning with it. 

Jim Gebhaardt: Yeah. Entrepreneurs, I think by nature want to keep score wins. Entrepreneurs like to win. They really like to win. Actually, they probably like losing better than they like winning.

But the whole concept of money can easily become a scorecard and we're gonna challenge our people with, it's not, it's really a tool. 

Matthew Grishman: Yes, absolutely. [00:58:00] Alright, so we've covered everything from. The different asset classes of your whole wealth. And as we wind down the episode, there are some real world examples of all this, which we've done an amazing amount of work here, going through the how's of personal planning, the three different phases, and really now seven asset classes.

Oh, the, the seven, well, the seven asset classes of whole wealth to kind of bring it all together. What we now, what I think we need to bring to the tribe here, just what, what do we do with this now that we've mm-hmm. We've invested this time going through the, of our action plans planning, right? So I think there's some immediate action steps we've gotta take.

And again, because of the law of diminishing intent, don't let this sit. If you let this sit a day or a week, yeah, that's just a week of 

Jim Gebhaardt: time. 

Matthew Grishman: It's not gonna happen. And you've already invested your time. Right? The number one most important asset of your whole wealth in not only this episode, but the three [00:59:00] episodes that preceded it.

So week one, starting today. Complete your support system audit. I opened up my kimono and shared with you, at least from a health perspective. Who's there, who is on your team, who is missing? Then take one of the assessment tools. I think you should start with the clarity compass. I know we talked about left brain first, the left brain analytics before the right brain analytics, but you've gotta get committed to one of these assessments.

Have coffee with three people you can identify that are either living your ideal life or somebody you're curious to get to know better. So once a month for the next quarter, and then begin writing your comprehensive life 3.0 vision. What does that look like? Now, here we are giving you some immediate action steps.

Do we think you should do this alone? Absolutely not. But let's get the anchor off the bottom an inch [01:00:00] by getting you in motion. If you get in motion, you might stay in motion and it might lead you to pick up the phone or send us an email. You don't have to be in the 75% who regret their transition. Your best days can be ahead of you.

If you're willing to challenge the conventional retirement thinking of our parents and our grandparents' generation, you absolutely can create a life 3.0 that's even more fulfilling than the success you've had in creating this business. And ultimately, if you really subscribe to this mindset of who not how you can start becoming a catalyst to helping others do the same, 

Jim Gebhaardt: won't that be fun?

Matthew Grishman: Holy cow. What a journey we've been on from the barriers that keep us from doing the work to the wise, to the actual blueprint. We are basically inviting you. To have this incredible life 3.0 and discover completely what's next. If you're [01:01:00] willing to address all three legs of the planning stool, business planning, personal financial planning, and I think most important personal planning, we want to be one of your key who's, because really whole wealth is about so much more than just your money.

Say that one again. Whole wealth is about so much more than your money. 

Jim Gebhaardt: I hope that's obvious by now for our tribe, because of everything that we've shared with them over this series, check us out on the website, 

Matthew Grishman: g hart whole wealth.com, and on the top bar, click or tap. Contact us, connect with us and find your why.

Thanks for joining us on the Whole Wealth Journey today. And brother, 

Jim Gebhaardt: that's a wrap.

Matthew Grishman: Thanks for joining us today on the Whole Wealth Journey. Are you ready to start planning for a future that's rich in wealth and wellbeing? Then click like and [01:02:00] subscribe, and make sure you don't miss a single episode of the Whole Wealth Journey. So if we've struck a nerve with 

Jim Gebhaardt: you today, 

Matthew Grishman: where do people go?

You can find us at gbb hart whole wealth.com. That's G-E-B-H-A-R-D-T whole wealth.com. We'll see you next time. 

Jeff Holden: Jim Gebhart is a registered representative of Integrity Alliance, LLC Securities and Investment Advisory Services offered through Integrity Alliance, LLC, member SIPC. Gab Hart Group Incorporated is not affiliated with Integrity Wealth.

Jim Gab Hart and Matthew Grishman, our investment advisor, representatives of Gab Hart Group, incorporated a registered investment advisor. The opinions in this podcast are for informational purposes only. And are not intended to provide specific advice or investment recommendations to determine which investment or financial advice may be appropriate for you.

[01:03:00] Consult a financial advisor prior to investing. Any reference to market performance is based on historical information and there is no expressed or implied guarantee of future performance. Opinions expressed on this program do not necessarily reflect those of Integrity Alliance LLC. The topics discussed and opinions given are not intended to address the specific needs of any listener.

Gbb Hart Group Incorporated does not offer legal or tax advice. Listeners are encouraged to discuss their financial needs with the appropriate professional regarding your individual circumstance.