82: Why Passion is Not Built But Found

Behind Their Success: Episode 82

Paden: [00:00:00] Hello everybody. Welcome to Behind Their Success Podcast. I'm Paden Squires, the host, and this morning we have on David Flores Wilson. He is a CFAA Chartered financial analyst, and a certified financial planner. He's a managing partner at Sinces Advisory where he helps entrepreneurs, tech professionals, and business owners build and protect their wealth, optimize business exits, and achieve financial freedom. David was named Investopedia top hundred financial advisors, both in 2019 and 2020. His financial expertise has been featured on CNBC, the New York Times and Investment News. David even represented Guam in the 1996 Olympics, which is really cool. Uh, story, I have to get the background on that. And as an active member of Entrepreneurs Organization, David, good morning. Welcome on Behind Their Success.

David: It's wonderful to be here. Looking forward to the conversation.

Speaker: Yeah, David. So, um, in the financial space, right? kind of like me. tell us a little bit

[00:01:00] about your business and like what got you there.

David: for sure. I think, uh, you know, sinces was actually founded five years ago. I teamed up

with a business partner, after working for other firms. essentially, you know, we work with

entrepreneurs and business owners, on their financial journey. from a financial planning

perspective and try to be helpful in giving them advice, putting together financial plans and, uh,

you know, whether that's from formation to exit and beyond.

Um, just kind of looking at the whole scope of their financial lives and, you know, whether it's

advising on the balance sheet on, you know, make, whether they're gonna make a real estate

investment or they're gonna sell or buy their business, but, you know, sell their business or buy

another business. you know, we work through and try to think through the pros and cons and,

you know, look at it from a, financial perspective, tax perspective, estate planning perspective,

an insurance perspective.

As well as you know, does it have an alignment with their goals and their needs and their, and

what they really wanna accomplish? So.

Speaker: Yeah. you know, often I see in the industry and, There's not a lot of fantastic planning

going on necessarily, especially, you know, sometimes in the retail [00:02:00] world where, you

know, people kind of just save for retirement and, and whatnot and, and, not necessarily

everybody needs this massive holistic financial plan, but a lot of people do. You know, a lot of

people have a lot of moving parts. Right. And, it's awesome that you guys, you know, you,

you're, you're trying to take that holistic approach, right? Of looking at every aspect.

because you're right, there's all kinds of different considerations. It's not just like, Hey, make the

most money. Uh, sure. All things being equal, we wanna make more money. Right. But it's,

there's, there's, there's a whole lot of variables, right, that kind of go

David: Yeah, no, it's interesting, right? 'cause I think so much of the industry focuses on, you

know, frankly, retirees and has kind of done the work. And are now sort of, need some help

managing gobs of money Right. Kind of

Speaker: yeah, yeah, yeah, yeah. That's the retail, right?

David: yeah. And so for us it's, you know, we get jazzed up about working with people that are

really hitting that inflection point and how can we add value to their businesses and their, and

their personal lives and sort of like, entrepreneurs are just pulling in many different directions,

right.

You know, they might have small kids, they wanna go on vacation, they're, you know, they're

working crazy hours in their [00:03:00] business. And, uh, how do they manage it all in that,

where do they get that sort of objective advice, to move the ball forward? So.

Speaker: Yeah. Yeah. No, a lot of my client base is same kind of space, right. Entrepreneurship

and, and they, yeah, they do have a lot of unique needs. Right. And, and I think it's very

important and, you know, not, it's not a self-promotion for me, but like, I think it's very important

to, work with somebody that kind of understands what you're going through.

Right? Like, or is an entrepreneur is a business owner, like knows all those. pressures and

stresses and what's, you know, what's even just going on in your life. It's great to work with other

professionals in all your areas of needs. Right. that, can relate to that.

David: Yeah, no, it is interesting, right? 'cause I, I've only technically been an entrepreneur for

five years, right? And so, but I've been advising business owners,

Speaker: You've lived in that space though, you know, for.

David: For a long time, and it, and when you kind of sit in the space yourself and you do have to

make those hiring decisions and, and, uh, you know, put together your QuickBooks and, and

manage the team and make these decisions around. You [00:04:00] know, strategic planning, it

just sort of change your, you know, how you view and kind of give the advice to the, to the

entrepreneurs and the, and and the founders.

And so, uh, it's been a great experience for me and, you know, kind of, oftentimes we, we see

people that are in, you know, for example, maybe working in big tech and, um, wanna move into

the startup world and, and, you know, co-found a company and, and so, you know, we want to

have them go into that experience with their eyes wide open, right.

Speaker: Yeah, let's not just turn it on and it goes right.

David: Yeah. you can, you know, these are sort of the agency we have as entrepreneurs and

the sort of the ability to kind of work with what we're passionate and, you know, you know,

frankly, many entrepreneurs just won't ever retire. Right? They kind of just go from,

Speaker: Yeah. Yeah. They're so high strong and high wired. Like they'll just never quit.

David: you know, it is a fun, it's a fun, uh, business we're in and sort of, you know, to kind of, to

work with people that are, are so dynamic and, are doing some, interesting things out

Speaker: Yeah. No, and I, you know, I'd echo exactly what you're saying there of just like, um, it

is cool, right? You, you work with all these different high performing people and like, I've

[00:05:00] had the benefit of working with different, even athletes and different stuff like that, that

has like the cool factor or whatever.

But like the, the main thing is like, I get to work with all these like, amazing people, right? That

make me better. and I just get to like latch on him. Like, cool, look, look, my client is so cool. He

is doing all these cool things, you know what I mean? And that's like awesome, you know, and

you know, I get to be a small part of that to just kind of support it, right?

Like, helping them be successful.

David: I mean, it's, it's impact, right? In terms of, you know, when we work with non

entrepreneur clients, like yes, we're impacting them and their families and, and their future. But

when you work with entrepreneurs and founders, it's like, well, you have the ability to sort of like,

not just work, you impact a company.

And of course, all the stakeholders involved from, the suppliers or the customers or the team,

it's, uh, you know, the stakes are high. So.

Speaker: Yeah, yeah, absolutely David. So David, tell us a little bit about, your story. So you

came from originally from Guam, right? Is that right?

David: born and raised in, small Pacific Island, Guam. you know, my mother's, uh, a native, my

dad was ca from California. And, And for me, like, my parents divorced and so I, you know, I

kind of grew up in kind of [00:06:00] two different households and, and for me that was a great

experience, right?

So on my mom's side of the family, there's, you know, my grandparents had a series of family

businesses and so I, I worked most weekends and most summers and, you know, working on

the, on the family farm and, in, you know, sort of the, the retail store in, in the family. And, um,

you know, I took from that was that.

You know, here were these sort of pillars of my community. These, you know, uh, hardworking

people that, you know, so many people respected. know, but they didn't have the right advice

and so they made some poor decisions. They, they lost one of their businesses 'cause they

didn't have the, the right coverage.

And there was a lawsuit I. when they passed, they, know, didn't have their estate in order and,

and their estate went through probate for many years. and on the other side of the family, you

know, my dad was a CPA, right? So I saw the impact that he made on, people's lives and, you

know, I wasn't paying that much attention at the time, but I, I was sort of picking up these little

financial literacy nuggets, right?

And so I saw the impact that you, you know, you can make if you sort of have these skills and,

build them over time and you can make on people's lives. So.

Speaker: that's kind of interesting. So you, you know, you had that entrepreneurship kind of,

your [00:07:00] mom's side and then your dad's side kind of gave you the little bit of, uh, the

grounding and the, and the numbers and, You kind of had a little bit of, of both worlds there a

little bit.

Right.

David: So yeah, I mean, I think, you know, I had an investment banking career after college

and, you know, what was happening was that I was kind of taking, you know, I wasn't, I. And that

sort of, that enamored with the sector that I was in. And so I was kind of taking these different

certifications.

Speaker: You have your CFA, right? I mean, that's, that's a big deal, right?

David: yeah. I mean, you know, just one of those things where like, uh, all my friends would

disappear on a Sunday to watch football. I, you know, I was like, I love playing sports. I don't

watch that much football. So I was like, oh, you know what, I'll do something.

Speaker: Right.

David: Yeah,eventually people started to come by and say, Hey, like, you know, you have the C

ffa, like, what should I do with my, you know, 401k and you know, I heard you develop this sort

of rent versus buy spreadsheet. And so, you know, financial, planning became my hobby sort of

on the side. And then, you know, when the financial crisis hit.

you know, this was, that was sort of my time to say, Hey, you know what, I'm, I'm gonna go all in

on this, this hobby of mine and make it my career and transition from investment banking.

[00:08:00] So.

Speaker: Yeah. take me to that decision point. what made you finally take that jump? Was this

like, you know, had you, had you been thinking this for a long time or what, like what, what do

you think that

David: Yeah. And I think that's really, you know, it's one of those big regrets, in my career there's

kind of two. You know, sort of big decision points that I made, right? One sort of transition to

financial planning. I didn't do that, as a business owner at the time. I worked for another another

firm.

And so, but what was, you know, was really impactful for me was that, you know, I sort of

discovered my, my passion, you know, as I was sort of advising people as a hobby just for free

on the side. And, I didn't go through with it, right? I was like, okay, I'm interested in this, or this is

my passion. And then I just kind of sat in terms of inertia.

I think that was, that's what I want to take to a lot of clients, right? In terms of just like, Hey, once

we find out what we really want to do, let's work

Paden: go.

David: Let's go do it. Right? And so like, you know, obviously let's way the pros and cons. And

so, you know, I made that mistake of not acting on it.

And so I, really emphasize to the [00:09:00] people that we work with say, you know, like, Hey,

let's identify your passions and your values and, figure out a plan to get there. And so, and then

sort of the next step during the pandemic was, you know, essentially that, okay, well, I'm doing

this in a way that, at another firm where, yeah, I didn't feel entirely comfortable that if, you know,

something happened to me if I got sick during the pandemic or something like that, where, you

know, the clients were being taken care of. So, wanted to build a firm where, you know, it was

holistic. It was comprehensive.

We were giving objective advice, you know, with, uh, you know, very few sort of conflicts. And

so, you know, that was the goal, five years ago. And, you know, it's worked out really well since

in terms of, growth and the impact that we. been able to make on people's lives, so

Speaker: Yeah. So, you know, obviously that decision point, can be a scary one, right? you can

set there. And that's, I think what I want the listeners to take away from, what David was really

saying there. It's like you can set there on the sidelines planning for the rest of your life.

And and truly, there's never going to be a time where you're like, okay, I got all the information,

now let's move. Right. it's like, you know, like what David said there, there's like a [00:10:00] risk

reward, right? Like at some point you have to move when you don't have necessarily all the

information, right?

You just gotta take a leap of faith and say, Hey, I can do this and, and what have you, but at the

same time, don't, you know, don't be stupid about it. Right? You know, David, I'm sure spent a

lot of time. Okay. What is this gonna look like? Right? and not do anything flippantly or, or, you

know, uh, in a rush.

But, um, you gotta move at some point.

David: Yeah, no, and people deal with this in different ways, right? I, I think sometimes, starting

a new venture, it's sort of saying having, okay, well I'm gonna build my res reserves and my

emergency fund and my lines of credit and, and, and, you know, develop relationships sort of

ahead of the venture.

And for me it was, you know, it was really. There was a little bit of analysis paralysis, right. It was

sort of, you know, it was taking on a business partner. We hired a coach to sort of, investigate

for, you know, almost 18 months of how we would work together and what the firm would look.

Speaker: very important that you guys meash, right?

David: Yeah. And so, you know, and then [00:11:00] what would this, you know, where do we

align in terms of service model and, you know, investment philosophy and financial planning

philosophy and, and you know, what roles we would take on.

And, you know, what would the business plan look like in terms of, you know, uh, certain

benchmarks. And so, I think that's sort of, that works for our personality where others people,

you know, kind of like, Hey, let's go. And if it doesn't work out, the sooner it doesn't work out we'll

kind of pivot.

And, I, the important thing is for people to understand like what kind of person they are, right?

And so, if something's not gonna work, so often it's better sort to find out sooner rather than

later, right? So.

Speaker: Yeah. Oh yeah, for sure. You're just delaying the inevitable, right? most people

probably listen to this call are not, not like you. Right. I'm, I'm just assuming your detail is pretty

much off the charts, right? Like, are you're, you're really good with detail, right?

is that a correct assumption?

David: I guess I'm good with the planning part of it, right? In terms of just, I think that's an

interesting skill I think we, we always sort of want to impart to, to owners and founders is that, is

to, have that plan and to, kind of check every box as sort of, you're looking through and you're

implementing that plan, [00:12:00] but you know what's most important is that you get the macro

right.

Right.

Speaker: Oh yeah, for sure.

David: and you could have sort of a great team and a, and a wonderful business partner and,

uh, an incredible business plan. but you chosen the wrong market. Well then, it's probably not

gonna work, right? And so, think that's sort of that balance of the details and the big picture is so

important, right?

Executing

Speaker: Yeah, I mean, it's a little bit of a hot take, right? But I, for someone who's taken so

many certifications, but any of these certifications don't matter that much, right? Like they, um,

you know, you had, there's different certifications I've taken. I'm like, there might have been

three or four incredible sort of planning ideas I got from a, you know, particular certification.

David: And those have been impactful. And then maybe it was impactful for a few years. But I

think, you know, just always sort of thinking through of like, okay, how can I. You know, just kind

of get better every week. You know, try to get 1% better every week. And, you know, there's

different ways, you know, there's no substitute of course for, you know, working with clients and,

figuring out, interesting problem, solutions to the problems that they have.

but, uh, you know, some of the certifications can help, uh, here and there [00:13:00] for

Speaker: Yeah, no, a hundred percent. You know, as a guy with a bunch of certifications myself

and taught college and all kinds of college degrees, like I don't really care. You know what I

mean? Like, I don't really care about anybody's certifications. Like, it's like, do you have the

experience? Like can you do the job?

Great. So it, you know, why it's important, like it's important for like people in professional

services is their career, because especially in the beginning when you don't have the credibility,

it can help add to your credibility Right. And give you some authority. it's like you either have

skills or you don't certification.

The cer, you know, my CPA while it's been, you know, obviously it, you know, legitimizes me in

some people's eyes. I mean like what I learned in that itself, I. Like, I don't know that I apply any

of it. and that's probably a bit flippant of a comment, but it's not like they're learning exactly what

I'm doing day to day.

I'm doing totally different stuff. Right. so yeah. Very cool. so looking back, you know, so you've,

running your own practice here for about five years. You're, you know, your own group. What do

you think is your best skill, David, that leads to your success, your ability to just grow this

[00:14:00] business?

What? What would you call your superpower?

David: Yeah, and I mean, I think it's interesting, some people call this the passion or, you know,

it is a little bit of an obsess obsession, right? It's sort of a, an obsession to kind of getting better

at the craft so that way, you know, can kind of make an impact on, on helping people,

oftentimes, younger people will sort of ask me either advice or sort of, you know, what kind of,

what it takes to sort of, you know, be successful in the business.

And, for me it is really just, hey, that you, you have to have that desire to help people or else it's

just not gonna happen. Long term for you, right? It's just like you're not gonna put in an extra

hour. You're not gonna sort of, go the extra mile if you're not, you know, you don't have the

desire to help people and kind of move the, the plot forward in their financial lives.

and then sort of related to that is that sort of obsession really of sort of getting better at the

craft? for me it's kind of, it's like a fun video game, right? In

Paden: Yeah. Mm-hmm.

David: you know, sort of learning new things. And, uh, you know, applying that to people's

situations and, and then, you know, seeing them, you know, implement it and have success

doing that.

That's, uh, is a superpower I [00:15:00] have

Speaker: Yeah, man, that's awesome. And I think, I can see that just, well, just in this

conversation, right? You've several times you go back to just like rituals or, or habits, or, or, I

mean, I'm guessing you're, you're somewhat a, a fairly ritual guy or habitual guy, right? were you

talking about back in college or whatever you were saying there, where, you know, on Sundays

everybody was watching football or whatever, and you just created this habit of I study for a test

on Sunday.

And you know, in the beginning that didn't really separate you much from your friends, but if you

keep doing that for week after week, after week, after week, you start to, there's a gap there,

right? And you start accomplishing things that other people aren't, aren't accomplishing. that's

where I found a lot of success in my life. I'm somewhat naturally talented in some areas, but

really where I'm successful is my routines. I just do the same thing over and over and over

again, and it's amazing how good you can get at stuff when you just do the same thing over and

over and over again.

you're not able to put habits like, you know, new habits in your life that, you know, if you wanna

change your life, like change something you do daily, right? Like, [00:16:00] that'll change your

life. Even the tiniest thing that you do, Dave.

David: I mean, and we see so many entrepreneurs, right? they go sort of in their wormhole and

they kind of just, you know, obsess about the business and then, um, you know, so I,

Speaker: of their life falls apart.

David: know, you hear a lot of sort of successful people talk about, oh, you know, kind of follow

your passion and, and sort of the balance that they have.

you know, oftentimes, like it wasn't a balance that led to sort of unusual successful outcomes,

right? And so, you know, it can be very painful, you know, for certain journeys, right? And not for

everyone. Some people can really, you know, optimize and find balance.

but you know, sort of it's business gets more competitive like every year. Right. And so, um, and

you know, the market forces, whether it's interest rates or tariffs or kind of whatever it is in terms

of the issues that are, are business owners are, are kind of dealing in their particular sector

today.

it's, you know, it's just a challenging environment. And so like, you know, just having that, that

edge, in their businesses is,

Speaker: The cops are coming to get you, dude.

David: Yeah, it's, yeah, it's typical [00:17:00] New York City, right?

Speaker: Yeah. Yeah. Right. Yeah. See, see where I'm at. I, I usually don't have problems with

sirens.

David: we're five floors up and we're still like, we're hearing so sirens that are like two, three

blocks

Speaker: Yeah. another great question for you. It's so you've done a lot of things, you know,

obviously you've had, a certain level of success in your journey. what would you say has been

the most rewarding experience kind of on this journey?

looking back, just entrepreneur, all the things you've done, what would you say is most

rewarding?

David: it's very rewarding when, you know, You know, we do a discovery process with clients,

get to know who they are, what their goals are, what their values are, what are they sort of doing

so far in terms of their financial activities, whether it's a saving or, you know, spending, investing,

you know, protecting what they have.

And, you know, then we sort of say, Hey, like this is the advice and kind of the plan that we put

together. And as we go over time, you know, we start to check off these, these milestones, right?

And so, you know, whether it's in the life events or, you know, saving X amount so that they

have financial freedom.

you know, when we sort of do that and, it's just a [00:18:00] real, like deep sense of satisfaction

that like, okay, well we've done the plan. It doesn't always go according to plan.

Speaker: Yeah. Well, it never does.

David: Yeah. Right. So that's why sort of, it's called, you know, it's called financial planning,

right? Not just financial.

Speaker: it's, it's, uh, it's live, it's interactive, right?

David: But, uh, you know, sort of really proud of sort of the impact that we've made on people's

lives and sort of, you know, able to sort of, you know, buy that home, put the kids through

college, you know, sell that business successfully, expand the business, you know, start a new

business, and, and so on.

So those things have really. what I'm most proud of that, uh, we've helped, again, we're not the

hero of that story, right? It is the entrepreneur that sits there and they do the work, but we, can

help guide them and give them sort of, you know, little tidbits here and there, so they can make

better decisions.

So.

Speaker: Yeah. Yeah. And like I said, I really appreciate, you know, kind of the approach you

guys take there. And it's, it's one that we take a very similar approach of like, you know, it's not,

yes we are. Tax people and, and money people. Right. And that's, that's our, subject matter

expert. Right.

But like, we're consultants, we're [00:19:00] advisors. We, we need to know how to talk to

people, how to communicate with people and realize, like, especially I think like accountants in

my industry get this a lot wrong because they're not necessarily generally good with people, but

You realize like the issues are generally people issues or like they have some block they're not

doing, you know, it, it's not like, oh, this entrepreneur has a lack of information, therefore they're

not doing something.

It's because like, you know, they know what they need to do, but they just don't do it. And it's like

behavioral type stuff. and to be able to understand that and be able to communicate and have

empathy and, I think that's how you can really be an effective advisor and consultant and maybe

like in my industry, not get caught up in the, the tax rep game where you're just pumping out tax

returns.

And by the way, technology is gonna do all that in two years without us. So you need to actually

position yourself as a consultant.

David: Yeah, we're very aligned, right? In terms of so many CPAs out there. you know, it's sort

of a relationship of almost a hired gun, right? They kind of do the tax return,

Speaker: it's just a tactic, really. Like [00:20:00] that's all It's,

David: see each other once a year, and there sort of isn't that sort of proforma like, Hey, let's

have these conversations.

Um, because some of these strategies. It takes a, a while to sort of digest, right? And sort of like

how do they implement in that business, whether, you know, whether it's, you know, tax saving

ideas on the entity side or referral side, or deductions and credits or, you know, emphasizing

long term versus ordinary.

I, I think that, You need to be able to sort of communicate it and it needs to make sense to the

business owner. And so, uh, uh, you know, someone like yourself who, you know, takes that

approach and is, is forward looking, um, you know, really stands out in the, in the marketplace

for sure.

Speaker: Yeah, yeah, yeah, yeah. Talking about leadership, it's something I'm really focused on.

I've really started to grow my team, my role becomes more Marketing and leadership, right?

Lead a evangelist is what I call myself.

David: Hmm.

Speaker: self-titled, um, looking at yours, David, like how would you say, your leadership style

has like, evolved right?

O over the years and maybe what, you know, if it has evolved, what might have [00:21:00]

prompted that

David: Yeah,

Speaker: to evolve?

David: it's interesting, right? 'cause I, I, I think my leadership journey is, is still evolving, right?

And so, for so long I've been in the financial planning business and the investment business, but

we're now in the talent development business as.

Speaker: Yeah. That's the bottleneck of our business, isn't it?

David: exactly. Um, and so, uh, and it's not just, you know, sort of structural and systems wise,

right?

Like in terms of just like, hey, like, you know, to junior people being like, okay, well, you know,

this is how we kind of we'll, uh, partner with you to develop over sort of a couple years and these

are the topics we'll discuss. And, how will, you know, help you sort of get better? You know,

leadership is sort of fundamentally different than, than managing, right? Managing is sort of

understanding the person and kind of, moving them forward. And, and, and it's situational and

leadership is really getting, you know, different people around a certain idea, right? And sort of,

and that level of saying, Hey, like, we're gonna rally around this idea of making an impact on

people's lives through financial literacy and, and planning.

And so, It's been [00:22:00] my strategy to say, Hey, like, you know, I just lead by example in

terms of the, the work I put in, how we treat clients in terms of treating them fairly and, and, you

know, giving them objective advice and you know, leading by example there and saying, Hey,

these are our values, right?

And so, um, you know, being independent, being fair, You know, this commitment to lifelong

learning, and these are our values, and we, we stand for these values, uh, 100% of the time.

and finding people that align with those values and, and inspiring with them that, that vision and

that's sort of been my strategy.

And so, uh.

Speaker: Yeah, same here. it's tough, right? Because then, well, I'll say it's tough. It's, I mean,

it's a responsibility. and I've already seen ways to where like. me as a leader where maybe I, I

don't wanna say fail in an area, but not, do not handle something as, as well as I could.

And then I watch it infect my entire team and, you know what I mean? And it's like, I'm like, oh,

that's happening. well, of course it is. they're doing what I do. You know what I mean? It all

comes [00:23:00] back to me as a leader is what I need. I just need to focus on being, uh, a

better and better leader and, um, there'll be less things happening here that, um, have problems

with.

David: You know, obviously we wanna learn from our mistakes, but, you know, I think so much

involved in so many sort of different entrepreneur communities where like, you know, maybe I

can learn from other people's mistakes right before I make

Speaker: Yeah. Yeah.

David: Uh, absorb some of those best practices around, you know, talent development and

building an organization you know, inspiring people to join us on that.

in, in the business as well. So.

Speaker: Yeah, and that's what I'm super excited about. My role is, you know, I've, I've been in

the biz for, you know, a decade plus, and what I'm super excited, my role is to be that leader,

that communicator, you know, and, Spreading the, I don't say the gospel, but spreading, you

know, spreading what we do, right?

And, and just leading by example and in developing talent because it, it really is, in my industry,

it's not necessarily about client acquisition or anything. It's like being able to service the client,

you know, to the standard that you want to do it. so yeah, that's, that's good stuff. [00:24:00] One

last question for you, So look back, I don't know, maybe even to your college self. What, if you

could tell him one piece of advice, what would you tell him?

David: I would say to, you know, looking back at myself, and to touch on a little bit what we

talked about earlier is it is to not hesitate once you've, you've found your passion and what you

want to do. And it, and to, you know, I think for me is, you know, the experimentation is, is is

great, right? And so, like, I think if you're not.

If you're not growing, kind of move on and move on quicker. Uh, found your passion, you know,

move on and move on quicker

and,

and go do that. you know, there's, there's times where I didn't do that and, and I regret it, right?

I, I regret not starting my entrepreneur, journey, um, earlier for sure.

So.

Speaker: Yeah. Yeah. And you know, it's, I would say I struggled with the same thing. It took me

forever to jump off, Now I did it, you know, 11 years ago, and somehow I was brave enough to

do it then. I don't know why or how or whatever, but like, it was one of the best decisions I've

ever made.

but you just gotta do something, right? Like, because if you're just sitting there on the [00:25:00]

sideline, you, you're just gonna sit there and live with regret. And not actually figure out if you

can actually do something or not. So it's like if, you know, and we also talk about like passion

and finding your passion and like, I'm a big believer that like, you don't find your passion, you

gotta develop your passion.

and the only way to do that is to start trying things, playing around with things, see things that

you like or maybe you're kind of naturally good at it a little bit. And then when you get in a

routine and start doing it all the time, it's amazing how passionate you get about it. You know

what I mean?

Like I never used to work out. Now I'm all passionate about working out because I do it all the

time. And now since I've done it all the time, I'm pretty good at it. And once you're good at

something, gosh, amazing. You're passionate. it's pretty wild stuff. Like I said, it, I feel like

people are just kind of out there, just like randomly I'm gonna stumble upon something that is

my passion. It's not how it works. You gotta pick something up and play with it for a long time

and then once you start figuring out that game, whatever that is, like playing the piano or

[00:26:00] lifting weights or whatever it is,

David: Oh yeah, I was reading a book about, um, it was kind of talking about this concept, right,

of like, you know, particularly in sports where, you know, someone like Tiger Woods, two years

old playing golf, and then someone like Roger Federer, whose parents actually were

professional tennis players. he just did a variety of things and he was not encouraged.

And so that, that sampling period, was so important for him. He's like, Hey, I'm gonna try this

sport. I'm gonna try that sport. And then, you know, shocker ends up being fairly good of tennis,

right? And so, there's a small percentage of the population that. You know, it's destiny, right?

target Woods golf is destiny. And so going all in early, focusing on nothing else, but that makes

sense. But, for most people, we need this sort of sampling period to really understand what our,

our strengths and weaknesses are and, and, uh, you know, what we like and what we don't.

And then sort of apply that to our, you know, sort of our ultimate journey. So.

Speaker: Yeah, I think I wish people, you know, I would say college age type people would,

would do that, right? You know, we kind of put the pressure in our culture of like, people, college

age, [00:27:00] people need to know like what their plan is supposed to be. And it's like, well, no,

you guys are actually at the perfect time to where you could take any type of risk and do

anything you want.

It doesn't really even matter, right? Like so, but, you know, you get that 25-year-old, they get

outta college and what do they do? They immediately go extremely conservative. Right. they get

the steady job, they get the health insurance, they get what, you know, whatever.

Right. and it's amazing. They're actually in the best opportunity to just, what do they got to lose?

David: No, we see that, uh, on the investment side too, right? And so, you know, someone sort

of, you know, a few years outta college, you know, making really good money and, um, such a

long time horizon that they can take risk and invest, aggressively, and yet, you know, what are

they sort of doing that saying, okay, well, you know, having a high allocation to cash and, uh,

investing conservatively.

And so, you know, sort of. Retraining, what's best for them in long term and kind of implement

those, those best practices. You know, sometimes we see kind of again and again, so.

Speaker: Yeah. And of course, you know, me and you working in the money space that is

[00:28:00] extremely tied to emotions and, and what you've learned, you know, learned about all

that in, in childhood and your parents and, and all that kind of stuff. So often there's some things

to navigate there.

David: that relationship

with money, cascade through people's lives or decades without sort of like, and so it's like really

examining like, okay, well, like why do you feel that way around spending or, saving and, you

know, like. You know, whether it's sort of the stories that you were told by your grandparents or

in the household around expenses.

And so, you know, 'cause some of them really, can lead to po positive outcomes and other times

not, right. So,

Speaker: Yeah. I mean, it can lead to extremes in all directions. Uh, definitely. That's cool. Well,

David, man, I, you know, I really appreciate you coming on the show here. what's the best way

people can connect with you or get to know more about you if they're interested in connecting

with you?

David: Yeah, sure. I mean, if you just Google David Flores Wilson, you know, people connect,

you know, whether on LinkedIn or through the website and, kind of go from there. So.

Speaker: Awesome. David, anything, uh, you wanna leave for the listeners before you go?

David: Yeah, I really appreciate, uh, the work that you do in terms of, uh, you know, also

spreading financial [00:29:00] literacy and, uh, it's been great having this conversation with you.

Speaker: Awesome, David, man. Well I appreciate you and, uh, listeners, we'll catch you next

time.