Episode Transcript
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(00:00):
the way that we perceive thesesetbacks are stepping stones
(00:02):
and learning curves, right?
We, not that I look forward tosetbacks, but when they do occur
to us, I'm not negative about it.
(00:27):
Today we have with us Roy Snarr.
Roy has over a decade ofexperience in financial planning.
He specializes in everything fromretirement strategies, estate planning
to long term care, helps high net Worthindividuals and entrepreneurs find
peace of mind about their finances.
(00:47):
He appeared on national televisionand ranks top one percent of financial
professionals in us Roy is also part ofthe pristine million dollar round table.
So he's someone who knows What ittakes to succeed at the highest level
when it comes to financial stability.
(01:08):
Welcome to our show, Roy.
Thank you, Chen.
Yeah, I'm excited.
Yeah, it's great to haveyou here, my friend.
Great to have you here.
Have such a deep understanding about thefinancial world, the financial strategies.
How important do you think emotionalintelligence is in making smart?
Financial decisions overall,especially for entrepreneurs.
(01:31):
Especially for entrepreneurs.
Yes.
I love emotional intelligence.
In fact, I have a lot of mycolleagues read emotional IQ.
It's a great book because the one thingthat we have as entrepreneurs that no
one can take away, but is constantlybeing beat down is our confidence.
If you're out here as an entrepreneur,you're going to get objections.
You're going to have failures, you'regoing to have setbacks and your ability to
(01:53):
persevere through that boils down to youremotional intelligence and how to handle
certain situations in the right manner.
And it took me a while to,to get a grasp on that.
Cause it's very easy to overreactor emotional and making a decision
without looking at all of the facts.
And one of the key tips I always havefor the entrepreneurs out there is
(02:14):
don't necessarily rush into a decision.
You want to follow your intuition.
It's generally right, but you wantto break things down a little bit and
not look at it from an emotional side.
Just zoom out a little bit.
100%.
Yeah.
Because a lot of times, like youcould have a setback, for example,
you're like, Oh, this must this is notmeant to be because of this setback.
(02:36):
Maybe the setback is actually there.
To help you learn better to perseverethrough the next bigger setback that
will happen in the future, right?
And so the way that we perceivethese setbacks are stepping
stones and learning curves, right?
We, not that I look forward tosetbacks, but when they do occur
to us, I'm not negative about it.
In fact, I'm like, okay, great.
This happened to us.
And this is a good thing thathas happened to us because
(02:58):
we're at this level of success.
It wouldn't have happened to usif we were to say just starting.
How do we overcome thisto get to the next level?
And that's how we look at everything.
Instead of just getting sador depressed or upset, it's
just okay, we can handle this.
How do we overcome it?
And I believe that boils downto the emotional intelligence.
Yeah.
(03:18):
Yeah.
Good point, Roy.
And my late mentor he, he was known to saythis, is that look for good in everything.
Initially when I heard that, I waslike, what is this guy talking about?
Look for good in everything.
There's.
Problems everywhere, man.
What's going on?
And so it was a different kind of mindsetback then before my transformation.
(03:38):
So just start small and I tell this topeople now, like when you wake up, as soon
as you wake up, before you get the phonejust play a game, say, you know what?
Today I'm gonna look for 20 thingsthat are good in my life, right?
So it could be as simpleas getting out of the bed.
So cool.
I have my knees work, and just countthem down as on your phone or notepad,
just write them down, actually writethem down what those good things are, and
(04:01):
then that come becomes a habit over time.
So now, like you mentioned.
Even the downfalls, if you practicethat and you look for the good in it,
then you're looking for lessons likeit is, and it's, and over time, as you
practice, you start zooming out moreand more, you start realizing, wait a
minute, in the grand scheme of thingsare pretty good, man, in my life,
(04:24):
so if you keep that energy, you'llstart producing better results.
Oh, 100%.
And if you look at it too, the waythat we view problems me specifically,
when they're, if I get upset about asituation first of all, I ask, okay,
what control do I have over this?
Because I'm at zerocontrol for the outcome.
They're like, if I get upset becausetaxes increase, like I can be upset
(04:45):
and I do, there's nothing I can do.
I'm not going to do anything.
And so I look at, Can Iactually do something to
influence the outcome of this?
And if I can't, then I ask myself,okay, if I fast forward six
months, one year, five years, isthis still going to be a problem?
And most of the time it's not.
(05:06):
So I break these issuesand challenges down.
To those mindsets, can I control it?
And then is this really gonnabe an issue in three weeks
from now or a month from now?
Yeah.
That's Whereas no,
on both of them, I just get over.
Yeah.
Yeah.
So true.
You're brought to memory.
This past guest Iinterviewed, it was so funny.
This is like a hundred plus networth, a hundred plus million.
(05:28):
He is, he's really successfulin real estate, I think.
And he was telling me that.
He purposely, and hehas some businesses too.
So he purposely, he doesn't checkhis emails until four o'clock mark.
So I said, why?
I said, why?
He goes, everything'staken care of by that time.
(05:50):
If I got involved right in thebeginning of this email strings and
sequels, some of these emails are like.
30 emails in, in the role, right?
Like responding to eachother, multiple people.
So by the time I get four o'clockcomes around, they usually haven't
figured out like majority 95 percentof the majority is taking care of.
It's okay, that's great.
And he goes, I tried that a fewtimes and it actually works.
(06:13):
And I said, Oh, that's pretty cool.
I never gave it a shot, but it waspretty cool concept that he shared.
No, that it's all about, auditingyour time too, because email.
Like it's such a distraction.
I can't personally, I can't, it'sthe essence of life and business.
So similar things as well,where I will check my emails in
the
morning, that morning to see anythingthat came through the night and
(06:36):
then I check them in the afternoon,but during the heart of the day.
I don't even look at them becauseif it's that important to be calling
my office or calling me or sendingme text messages, emails can be
in this world of gratification.
And like in the past, you go back 10years ago or 15 years ago, if somebody
sends you an email, if you got back tothem within three days, that was okay.
(06:57):
Now it's I emailed you an hourago, why haven't you gotten back?
Why didn't
you respond?
It's what do you mean?
Yeah,
like for me, all mynotifications, everything is off,
so somebody will say, I senta WhatsApp to another medium.
They say, I sent you a WhatsApp.
Two days ago, I'm so sorry, becauseI figured I'll go to it when I can.
And then I'll review everything,respond properly, for everything.
(07:20):
And obviously when there'ssomething urgent, you get a call
anyways, like you mentioned,
it's that the art ofkeeping the distractions.
So you could focus on onething at a time, right?
To just bring that focus energy inwhat you're doing is very important.
Oh yeah.
And it, cause it's soeasy to be distracted.
And most entrepreneurs, they alreadyhave a high level of ADHD, right?
(07:44):
We're always, yeah.
Very easily distracted.
And so vacations and socialmedia it's overwhelming.
Like I only check my LinkedIn likebaby once a week and people say,
Hey, I messaged you last week.
I was like, that's cool.
I only check it once a week.
So if I missed it, sorry, I missed it.
We get so many inquiries.
Yeah no, definitely.
Obviously, entrepreneurs want toscale, that's one of the major
(08:05):
things, but they, often feel stuck.
It could be even at a million dollars,they could be still feel stuck,
because they want to go to 20 million.
So there's always that feeling of stuckthat continues with an entrepreneur from
your experience and you shared some, butwhat would be your go to mindset shift?
Or say a financial habit.
(08:27):
That most entrepreneurs overlook,but they're extremely important
for the health of their finances.
The number one thing is investingin yourself because a lot of people
in entrepreneurship, they'll spendall kinds of money on lead systems
or other marketing sources, whichare important, but until you can
(08:47):
invest, if you invest in yourself,nobody can take that away from you.
You're a hundred.
Yeah.
That's it.
So I always tell young entrepreneurslike, look, invest in yourself.
Mindset building is incredibly important.
Yes.
Because that is gonna driveyou to the next level.
. And once you have that established,you have a good, solid mindset.
And then you can actually save somemoney aside for taxes, for emergencies,
(09:10):
and you have enough cash flow.
Then the next step for you is delegation,which is probably one of the hardest
things to do as an entrepreneur, becauseyou can't not, you can't do everything.
And that's the problem thatwe had for a long time.
And so we started until we started hiringon people and building partnerships
to offload a lot of these tasks.
And once you start to delegate, thenyou have a system that you put into
(09:30):
place and that system can run with you.
In our opinion the true definitionof a business, like in the financial
services is that the practicecan run without you being there.
And that's one of our goals this yearis try to get that level of achievement
because it's easy as an entrepreneur,depending on the business type,
that if you go on vacation for twoweeks, everything falls apart, right?
And that's not a business.
That's a job, right?
(09:51):
Yeah, exactly.
So in my opinion, it's building themindsets and then putting enough
money away for emergencies, payingthe bills off and then also for
taxes and then start taking theadditional revenues and cashflow.
Running as lean as possible andstart investing in delegation,
which creates duplication.
Yeah.
(10:11):
Yeah.
No, it's no, it's hear the wisdom in you,but it's mostly, I feel like there's a
lot of experience that I'm, I want to getfrom you and we just have 20, 30 minutes.
So I want to get so much right.
Because what I'm sensing fromyou is a lot Experienced based
knowledge if that makes sense, right?
(10:33):
So I'm just trying to get that out for thepeople and sometimes when you push, when
you force it negates, it makes it worse.
But I think, how about this?
Can you share a. unconventionalstrategy that you live, throughout
your history, from your experience,from your journey that go to strategy
(10:55):
that not a lot of people know about,but has helped you and your clients.
If you could share.
I guess like the best way I canrelate that for your audience to be
most applicable in the actual spaceis to Basically have no plan B and
I've done this multiple times andI've done that through building my
mindset with it But what I mean bythat it's like the old Spanish story of
(11:16):
burning the ships at the shore, right?
You're gonna make this happenor everything's gonna fail.
Yeah
Back up against the wall.
You'll be amazed onwhat you can accomplish.
Now this has to be balanced becausenot everyone is wired to do.
You have to be, you have to knowyourself well enough to be, it is 100%.
And I'll give you a prime example.
(11:37):
I moved from SouthernCalifornia, Texas in 2018.
When I moved here, I had zeromarketing established, nothing.
And I'm, I sell life insurance,long term care and annuities.
And so my entire market base, all myreferral network was in California.
And in this practice, youusually need to meet with people.
It's not like sales over the phone per se.
(11:57):
And so I came out herewith absolutely nothing.
And I was like, wow, okay.
I moved out here, spent prettymuch all the money to get out here.
Now, how am I going to make this happen?
And so what I did is I gota business credit card.
The American way through credit andit was zero interest and I found
every single business credit card.
Give those out too.
Yep.
I invested in myself and then we madeit happen and turned into a multi seven
(12:20):
figure business in just a few years.
Love it.
But I did that because Iknew I could accomplish it.
I put my back up against.
Yeah.
Now I had a family time.
I have, I had a mortgage.
I had one kid.
Now I have three.
I had all these responsibilitiesthat were all weighing on me, but
we, I ended up making it happen.
That's one big thing that'sunconventional is look, if you're
(12:41):
strapped, but you're confident in theprocess, it can work out, take on that.
It's unconventional compared to likeour Ramsey model or something, but
it can help you and it can work.
And I always caution people.
I'm not giving youfinancial advice on that.
You have to weigh it out yourself, butit is an opportunity to really grow it.
And so that's something that'staboo, but it does work.
(13:03):
No.
It's so true.
It's,
we, it's
Let's, I would put myself in thesecrazy mindsets, speaking of mindset.
And if you ask the entrepreneur, Iwas like, okay, say if it was, if you
could not see your wife and your kidsfor 10 years, unless you generated 10,
(13:24):
000 in revenue in the next 30 days.
You think you can make that happen?
People will be like, yeah,I can make that happen.
Yeah, I
can
figure out anything you could.
It was, like, this weird,sick, demented mindset.
That's what I put myself inmultiple times because I had
to get out of this situation.
And I knew, it was like, if somebodyhad a gun to my head and they said, I'm
going to shoot you unless you actuallyget 10 policies on the books in 30 days.
(13:48):
I got 10 policies on the books.
If you're for life dependenton it, could you do it and make
sure that it's realistic, right?
I'm not saying I can become an NBA playeror anything, make sure it's realistic
and applicable to your business.
And that comes down to our mindset.
And so some people aren't wiredto do that, but if you are, you'd
be amazed what you can accomplish.
(14:09):
And back to the other point that you madeis about the belief, because it really
does come down to the subconscious belief.
Consciously we have all sortsof beliefs and that may not
take us to where we need to go.
But that subconscious beliefis, it requires programming.
It requires some time ifwe don't have it naturally.
(14:30):
But when we create that image.
Who we feel we are in thesubconscious level, then action
becomes true is like wisdom.
So the action that you're takingis like expressing your wisdom and
through the action into the universe,so you're pushing it out and the
more you do it, the better it is.
(14:53):
For you and others, because nomatter what, even if you're pushing,
you are giving value to people, insome way or form because of that
positive energy you're sending out.
Yeah, 100%.
A lot of people think it's hocuspocus, but it really isn't.
Quantity doesn't prove
it.
They used to.
They used to, but I feel since COVIDhas shifted, I've never seen so
(15:17):
many entrepreneurs speak about theirinner world than they do now, since
COVID, before that, it was just woo,
now the scientists are jumping up,now the quantum physicists are coming
out, they're doing Tons and tons ofresearch on DNA and how our emotions
affect DNA, even if it's not with us.
And it's just phenomenal.
I love this stuff because I this is myworld, I studied, this is what I do.
(15:41):
This is my passion.
And I feel that the more webecome knowledgeable about it.
The more life becomes easier.
It's like a whole journey isalready planned out for us.
All we need to do is create afoundation of faith belief gratitude,
and everything will fall into place ifwe remain in that energy long enough.
(16:06):
Yeah.
And the big thing is to, to your point.
Is to you're envisioning thesethings, you have to have the emotional
feeling as if you already have it.
That's the big thing.
Yes.
Oh,
we're going to be best friends.
Totally, man.
There's this thing that I tellpeople, too, that are new to this.
I go, you probably have wanted to buy anew car at some point or new truck, and
(16:29):
you probably had that ideal truck in.
What it does is it activates yourreticulating activator in your brain
to
start seeing, Oh, there's a new truck.
There's that exactly.
Were they all there before?
Who knows?
It's just thinking of somethingand Neville Goddard talks about the
ladder of, we're envisioning thisladder and you climbing up the ladder
and you do that for a few days.
(16:50):
Have you tried
it?
Not the ladder effect specifically,but I will give you a real
life story here of envisioning.
So when we moved to Texas in2018 it was not our forever home,
but I wanted to have this house.
I always envisioned this houseof a big giant front door.
And then you walk in and it'sa huge living room and then
(17:10):
it's all sliding glass door.
And it looks over into a backyard thathas a downward slope and it has a pool.
And a little pool cabana.
I thought about that and I always, I usedto remember myself smelling what the house
would smell like, hearing my boots on thefloor, jumping in the pool, everything.
And so the timing came,took about six years.
(17:30):
The timing came, I said, okay,let's look for another house.
We found this house and Iwas, it was unbelievable.
And then we had 10 appointmentson it the first day, which
in this marketplace is rare.
And we walked in the house and I waslike, this is, we're going to get it.
And then the realtor was like I'mnot sure there's multiple offers
and this and that and the other.
I said, no, this is the house.
It's exactly, it was scary.
(17:52):
It was exactly how I envisioned it.
Like it just tripped me out.
I was like, this is what I had in my.
And then we ended up closing on the house.
I took our offer over a higher bidoffer because they wanted to sell it.
It
happens all the time.
This
does.
And then, the hard part is onceyou achieve that, then you think,
okay, what's the next thingI want to start envisioning?
And then.
If you don't work on it, you'llget distracted and then you
(18:15):
won't try to envision anything.
Then you have to keepconstantly doing that.
But that was the biggest affirmationof something coming to fruition
from thinking about it andfeeling that we already had it.
Like I had the feeling and then whenyou walk in the door of the other house,
you're like, Oh dang, I don't have it yet.
But then you're like no, I have it.
This is just a rental house.
And I was like, trickingmy mind all the time.
(18:37):
And it came to fruition.
It was my wife is crazy.
I love this stuff because, an issue whenit does happen, there's so many things
the more I elevate my internal world,the more I focus on my internal world,
the more the dots start connecting,just Steve Jobs famously said,
he was a follower ofthis information as well.
(18:59):
So he would say, Hey, That, you can'tconnect the dots looking forward.
You just have to have faith, meaningyou got to zoom out and just have faith.
And overall, the good andbad, just let it happen.
Live from inside out, not outside in.
And then over time, you will,when you get to a place, you
don't even know how you got.
And you look back and you connected us.
Oh my God, I can't believe.
(19:20):
And there's so many different thingsthat happen on a regular basis to
our life that, that surprise us.
Initially, when this starts happening.
We don't realize it happens to people, butthey don't realize they just coincidence.
They don't realize.
But when you start, when it, whensomething like that happens, some
people get scared, some peoplesay, okay, no, this can't be true.
(19:41):
And they stay away from it.
Or unfortunately, and then somesay, okay, yeah, there's something
here, but no, it's just a good.
They write it off and thenothers say, okay, wait a minute.
There's something really truly here.
I need to go all in and devote theirlife to it like myself and then helping
others, because this is foundationally,that's all you really need is that
(20:05):
internal world that everything.
Else will just connect itself andit's hard to believe, but that's like
the resisting, not nothing, right?
Like you're not resistingand you're just flowing.
The flow state produces much betterresults, and then you'll see this
with someone that has in the flowstate, someone who's not, you will
(20:27):
see the difference in their lifeand their quality from outside,
right?
Yeah.
I mean that we live by that model andit's hard to stay consistent with it.
The world beats you up.
There's a challenge
you got
to go through.
It's everything goes wrong.
That's all part of life.
And the way I,
the
one thing we all haveequal is time, right?
(20:49):
So I look at some of thesuccessful entrepreneurs.
I'm like if they could do it, weboth have the same 24 hours in a day.
How are they doing it better than I am?
And that's part of the journeyof learning how to do it.
And it's, you want to
it's, yeah, it's,
yeah,
It's definitely a ongoing battle.
(21:09):
But anything right in life, when youstart working out in the beginning, you
don't know what the heck you're doing.
pushing weight and you're injuringyourself, you're doing things wrong.
You just don't know.
Same way with this internal world it'san art because when you start spending
time internally and the more you do itand the more you're paying attention,
(21:29):
you're aware of each moment, thepresent moment, you're aware of it.
And you start becoming anexpert in the present moment.
You're allowing things to unfoldin your awareness on every moment.
And you start.
Automatically, it's like somethingis helping you start detaching
and just when you detach, itdoesn't mean that you're depressed.
You're actually really excited because youfeel transcendence to all these things.
(21:53):
If you start feeling petty in a way,so it's just like anything else,
how you teach people to financialstuff, same way you can actually.
Teach someone and they can learnthis art to be internally to have
that mental toughness where Theoutside does not affect them.
It is I'm telling you it's possiblebecause i'm living it but it's something
(22:18):
That is incredibly powerful when you getto that state, it needs a consistent
investment of your energy into that,your belief has to be so big on it,
okay, this is my answer, this is it andthat, unfortunately, because, people
are conditioned from outside in, theywon't be able to look at it, but if
they do, and they devote it, there'snothing like it, once you bring heaven
(22:41):
on earth, then really, what is left?
You're not doing thingsfor others anymore, you're
doing it just for yourself.
Because you feel good.
Yeah.
100%. That's what the constantbattle is, but that's what life's all
about is becoming a better ups and
downs,
better mindset.
If you have a good, a solidmindset, you can do anything.
And then people want to startattracting other people that
(23:04):
have the similar mindset.
And then you start havinga much better life.
Yeah, so say, for example, now let'slook at the profession , because you
are the top, 1 percent in the U. S.What kind of advice or what strategies
can you give an entrepreneur that maybe listening to bring some of that
focus into the financial, so Worldbecause let's face it, we might think
(23:29):
that what we're doing is correct,
is there something that they could dowithout having to spend a lot of time,
but something they could do that theycould audit themselves on a high level,
how you would, if you met someone andhad a short communication with them,
you could audit to see where they are.
What could they do to see thehealth of where they are and To
also expedite where they need to go.
(23:51):
What actions could they take immediately?
Yeah.
So they're like a newer entrepreneuror even experienced one.
One of the number one things to lookat is number one, do a time on it.
Where are you spending most of your time?
And then second, on theactual financial side, right?
On the actual, I thinkthat's your main question.
The actual financial side, you want tobe sure that you have enough emergency
(24:13):
funds to put aside just in case.
And it happens.
There's always going to be slowseasons and then busy seasons.
And so most of the entrepreneurswe work with, they're like pedal
to the metal and I'm all aboutputting your back against the wall.
But when those times are good and youhave that replenishment of cashflow,
you need to be able to put aside thisfor those rainy days, even though you
might not get as high as return on it,but keep it a hundred percent safe, a
(24:36):
hundred percent limited and accessible.
Once you have that base built upand you can survive as a business
for up to six months minimum.
If no more cashflow came in,you're in a phenomenal situation
that most practices are not in.
Once you've achieved that, then youstart investing more into the long
term perspective of the business.
Okay?
Like in personal finances, investing inthe markets, putting, money away into like
(25:00):
self funded pension plans and so forth.
But during that process, whatthe number one thing is that most
people miss out on is protection.
So for example, there's a lot ofentrepreneurs out there that have
virtually zero life insurance.
They don't have any disability insurance.
Nobody wants to pay an insurance bill.
I get it.
But at the same time, ifsomething were to happen to you,
what would happen in practice?
How would your family be affected?
(25:21):
A lot of people say, no, I'm fine.
I'm healthy.
That's okay.
What happens when somebodyruns a light and kills you?
Like you don't know.
I've been in this business for 15 years.
I've processed a numerousamount of death claims.
And the majority of the deathclaims, the surviving spouse always
says, I'm so glad I met you andyou helped us get this policy.
And it's a very rewarding feeling.
So whether you get it through us orsomebody local, if you have a friend,
(25:42):
just go out there and get some basiccoverage, even if it's inexpensive term
life or short term disability, justget some level of coverage because you
just don't know what's going to happen.
If you were to ask the majorityof people if they could come
back from the grave, right?
And if they're, not if they're 90.
But if you could ask the majorityof people, did you think you
were going to die right there?
Or you ask all the people that arecurrently disabled, do you think
(26:03):
you were going to be disabled?
No, they're going tosay, no, I had no idea.
But that's why you have to have it.
So before you start investing, youneed to have a solid foundation.
You need to have an emergency fund.
You need to have all theinsurances covered, just in
case something happens to you.
So that would be my numberone piece of advice.
I have people that come to
me.
They say set up a 401k planfor us and do all this.
(26:23):
I'm like, no, you don't have enoughmoney You need to put those dollars
towards protecting what you're buildingbecause if you don't Way, yeah.
Yeah.
No, that's great.
I appreciate your time today, my friend.
It was great speaking to you Yeah,definitely keep in touch when we go live,
we'll send you an email with everything,all the information for this episode.
(26:45):
I wish you all the growth success,keep your focus on the internal world.
And if there's any waywe can help, let us know.
Cool.
I appreciate that.
Same here, brother.