In today's episode we talk about common challenges people face on their wealth-building journey. Make sure to tune in to learn how you can turn from a drifter to a dynamic within 90 days.
What holds people back from building wealth? For most people, it’s a combination of nobody ever having shown them a clear plan, overwhelm from all of the different opportunities and opinions, and a lack of support.
WealthBuilders Academy membership programme opens it’s doors again on Monday 5th October, but only for a few days. In this episode Kevin Whelan, Founder, and Christian Rodwell, Membership Director, talk about some of the aspects of the programme which address these common challenges people face and why having a tried and tested process to follow can help turn a drifter into a dynamic within 90 days.
Resources Mentioned In This Episode:
>> Ken Robinson TED Talk ‘Do Schools Kill Creativity’ [Watch Video]
>> JOIN THE WealthBuilders Academy - CLICK HERE TO LEARN MORE
>> Register for Kevin Whelan’s Wealth Masterclass [Free Video Training]
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Speaker 1 (00:01): The purpose of wealth talk is to educate, inform, and hopefully entertain you on the subject of building your wealth. Wealth builders recommends you should always take independent financial tax or legal advice before making any decisions around your finances.
Speaker 2 (00:18):
Welcome to episode 76 of wealth talk. My name's Christian Rodwell, the membership director for wealth builders, and I'm joined today by our founder, mr. Kevin Whelan. Hi, Kevin, Chris. Good to be with you again, get to see you Kevin. And before we kick off today, I would like to shout out a couple of our clients and members who have left us some really, really wonderful reviews in the last week or so on Trustpilot. So I'm first up, actually, Kevin Huey Whelan, no, listen, no relation. I don't get my cousins and my brothers and my friends to post no relation. Just to see we share a name. Come on. Yeah, well he very kindly said, uh, at that, uh, obviously wealth builders, passion and knowledge for SAS and preservation and growth of personal wealth is there for all to see. And he especially likes the educational videos, which, uh, he said at the brainchild of Paul Brooks, which they certainly are.
Speaker 2 (01:15):
So Paul's on the great job on the stats education, but, uh, obviously, you know, SAS has often spoken about wealth builders, but it's, it's a tool in the toolbox of building your wealth. Isn't it? Well, it is. And of course, you know, we're focused on the holistic approach to building wealth. And that of course is around the seven pillars of wealth, which we've talked about any times before and it's at the heart of everything we do. And so really is a, it's kind of, I guess, right at the beginning, Kevin, that's a, as we said, the set of your sale and the mindset, and just really focusing on, you know, what is best for you. And that often is somewhere, you know, where people struggle is actually identifying what they should be focusing their time on to get the best results. Yeah, that's true. But I think you said there were a couple of you didn't well, we do have one from Paul Wareham as well.
Speaker 2 (02:05):
So yeah, Paul very kindly said that he's been, you know, uh, known yourself, says 2007 17 Kevin, and, uh, you've been helping him with his family's journey into SAS and property investment. And, um, yeah, he said wealth builders approach everything, you know, with thoughts, care and safe and satisfactory outcomes and the integrity you would expect from such a well connected and trusted individual such as yourself, blushing, blushing. No, it's nice. Paul is such a super smart guy as well. So, you know, one of the things I just like about this is the humility of people at the top of their tree. You know, Paul is a great guy, very smart, um, very well respected in his own profession. And I'm genuinely right up there, you know, he's known in his industry and he's humble enough to say he's learning from, you know, people, us and, um,
Speaker 3 (03:00):
You know, I, I take the compliment personally because I'm working with him personally, but, but the same effort goes in Chris, doesn't it through all of our efforts. You, and as I said earlier on Paul and the coaching team here at wealth builders. So, you know, we're always thrilled when somebody is willing to put a bit of time in to, to say review. And just as we like people to say, you know, liking the podcast, go in, let somebody else know about it so they can get some of these free insights for themselves when you weigh what's our subject today, Chris?
Speaker 2 (03:33):
Well, we have been talking over the last few weeks about opening up for our next intake of members. So we wanted to spend some time today just to really, I guess, you know, pull back the covers on what actually goes on inside membership. So if anyone who's interested just to learn a little bit more, we can just really talk about, you know, the big picture and helping UPMC people, whether they be in the working world or business owners move from that place of financial insecurity, relying on one source of income and the steps that we walk through, walk them through to get to financial independence. Right.
Speaker 3 (04:07):
You know, at this time, Chris, um, uh, I was really reminded, uh, which puts the whole thing into context for me. Um, I don't know if you familiar with the work of, uh, Serkan Robinson, Chris, is it somebody's name you've come across before
Speaker 2 (04:21):
From his Ted talks? Wow.
Speaker 3 (04:24):
Water fella, you know, his, his talk on, um, creativity, Google this one, right. If you've not watched this, it's probably one of the top 10 Ted talks in the world. Um, you know, just talks about the schools and the school system, which is all really set up to kind of work against the creativity that's natural
Speaker 2 (04:48):
And eight in children.
Speaker 3 (04:50):
I think the school system is naturally set up against wealth. I think the whole process is geared towards encouraging people, you know, towards jobs and not towards being creative. And I think we get that same evidence. Don't we, when we ask people what holds them back from wealth, one of the biggest answers we get is don't know where to start. Um, I need some creative help. Um, I don't know what the process is. I think I need more education and it's just not taught anywhere. And certainly, um, I learned Chris dropped off my radar because I think he's such a great guy been sadly just a month or so ago. I learned he passed away, um, lost a battle with cancer and I was very saddened by that. And immediately sort of prompted me to go and see, is there any other talks that he did that, um, you know, maybe perhaps I'd missed because I was so enamored with his talk about creativity and how schools are quashing that, and he had another one Chris out again, it's a bit longer.
Speaker 3 (05:58):
Um, but it delivered in the same fantastic style that he has very relaxed and dry British style, uh, called. Um, I think it's all to do with, um, uh, remind me, Chris, the, um, was all about discovering your own element or finding your element kind of uses that language almost as if the element being in perfect harmony with self, that sort of crossover between aptitude, what you really greater, which he argues. So few people really discover because it's like a natural resource, you know, this element, um, and people don't discover it for themselves and nothing. Somebody else coined it. I think it was Daniel Priestley who said, we're all standing on a mountain of value, but because we're standing on top of it, we don't see it. And we find that too, don't we in the wealth side that people just don't often see the real, incredible value that they have in themselves and can spend very many years, if not a whole lifetime kind of doing things they don't like not feeling fulfilled, they're in a job or in a business.
Speaker 3 (07:09):
And they're just kind of marking time and not really that passion doesn't come out. And I think in that talk, when I watched it again over the weekend, he said, you know, when you, in this period of the element or we call flow, when you're in a period of flow five minutes, you know, it like an hour feels like five minutes goes by so quick, but when you, Hey, what you do, it's the other way around, isn't it, um, you know, an hour just drags by, and that's part of the challenge. And then, so the mix of aptitude, which is what you're really great at. And part of the challenge is most people don't discover it because I suppose they don't get that lesson. I think he says, one lesson can change the course of a child or your career. And it all comes down to, was there a teacher in your life, or is there a teacher now who could be in your life who would help you discover that one lesson that could change who you are?
Speaker 3 (08:08):
And I was thinking about that, Chris, I was recently interviewed on a podcast. Um, Amy Rowlandson interviewed me and sometimes somebody else gets the best out of it, you know? And, um, she was interviewing me and she said, there must've been something Kevin, that lit your fire. And I kind of remembered, and I don't know why it was buried very deep for me that I remember an economics teacher at school. I think I was about 14, maybe 15 doing what used to be called old levels. They're all GCCS and stuff now. But I remember that and he kind of fired me up about just the subject of economics and I loved it. And, um, went on to do that at a level and went on to do a degree in economics and kind of, although I didn't have any mentors guiding me post school, I think really I can thank very much.
Speaker 3 (09:01):
The guy who fired me up, the guy was called Phillip Selby actually, or fields. We called him, Phil Selby wrote a book way back then. Um, and I think now we want to be that lesson for the people. Don't we want to be that source of creativity to let people know it's possible, you know, to build wealth, uh, you can get a passion for, it's not passion for money. It's a passion for freedom and all of its sorts. And we cover that a lot. Don't we, Chris, in the program about, you know, the sources of freedom, you can get freedom of time, freedom of money, location, aptitude, or which really comes down to sort of, you know, your, your own creativity, the way you can be yourself and freedom of purpose and all of those things kind of all mixed up and mashed up, you know, turn out to be what you want to do for your wealth. And I think we definitely focused on helping people find their flow. So it gives them the most natural path to create their own journey to wealth. And, um, and I think his passing just made me be redoubling my efforts and hopefully your efforts to Chris to, to be that great creative teacher for others to help them find their flow when they're maybe feeling stuck somewhere.
Speaker 2 (10:19):
Yeah. Yeah. And we talk about only ever being one relationship opportunity or idea away from a complete transformation in your wealth. And maybe as you say, that one relationship at school, uh, was, was that path, that setting of the sale, which, you know, led you to, to where you are today.
Speaker 3 (10:38):
Yeah, no, I'd encourage anybody, you know, Google, sir, Ken Robinson, uh, watch the Ted talk, uh, on the creativity of kids. I think that's usually Ted talks about 15 minutes. Um, and then watch the one that he talks about finding your element, uh, see what you think, let us know what you think. And I just loved his style, made me laugh. Um, almost makes you cry as well because you know, he got polio was a young boy, um, which was devastating. The only one in a very large family, you got it. And, uh, you know, he talks a little bit about that, but you know, emotion comes out when people talk about their story. And I think, you know, I kind of do the same donor with my, with my dad who died tragically early. And not that the tragedy was the thing, but it definitely stimulated me.
Speaker 3 (11:25):
So maybe a combination of a bit of inspiration when I was young and a bit of tragedy when I was a little bit older where the combination of things that propelled me forward and it would be good to, I suppose, to share people, the insights, Chris, on how we, um, help people in the program for those who are curious to know a little bit more, because you can follow some of the lessons, whether you're in the program or not. I mean, we share it anyway, don't we, because we want that education there. It's just the practical support and the practical connections and the practical applications of what you can do is much more relevant here in the UK because we can directly teach people what to do, how to do it and to get them to where they want to get to, which is almost always significantly further on in their journey than they are now.
Speaker 2 (12:13):
Yeah. Yeah. And we're obviously spending a few minutes now talking about these things such as having a strong catalyst and knowing yourself and focusing on the things that you're good at in order to get into flow. And often people just want to get straight into the strategy to the asset building, but as we've shown in the program and as our members have gone through and seen how important it is to get these steps in place at the beginning. So understanding yourself, doing the wealth dynamics test, and then really getting clear on how big the gap is from where you are now in terms of covering current asset income and where you want to get to for that security figure. And then the independence figure out this is all the stuff that needs to be put in place. And by doing that, you build your confidence and by having the right guide, it gives you that peace of mind that you're not going to make those costly mistakes.
Speaker 2 (13:05):
And we know that fear holds a lot of people back Kevin and not having a plan because no one's ever shown us a plan, a wealth plan. So as you said earlier, people, you know, perhaps, you know, don't find this until a long way through their life. So we're trying to, you know, make this more accessible. And we've got many of our members that have been on the podcast in the past that have shown that when you actually take action, when you focus and you're committed that you really can see some good progress and we'll be inviting some more members, but next week, I think Kevin, to, uh, to give us an update as well.
Speaker 3 (13:38):
Yeah, sure. And I think what would be interesting, Chris, as if, you know, one of the final pieces all mentioned about, uh, Ken Robinson, which was, uh, he talks about life in terms of finding your element is a journey and it's a journey, but it's not a known journey, you know? So he was born and brought up in Liverpool and in England, but now lives in LA. And he said, you know, if you're traveling from Liverpool to LA, you know, the journey now, you know, historically it was a very unknown journey, but now it's a well trodden journey. You could easily find your way from Liverpool to LA. But for us, we discover Chris, the journey to wealth is unknown. It's, it's kind of, for most people, it's unchartered, isn't it. They don't see it. There isn't a sat nav system. There isn't a roadmap to follow.
Speaker 3 (14:33):
There, isn't something they can do. So one of the things I like to say that, you know, yes, we've created one, but you should expect that the journey to wealth is a journey of discovery. And Ken Robinson calls it a quest, you know, like days of when the other end of the quest, which was never a journey, you knew there was a big prize and often, you know, the prize in heraldry and medieval times was a knighthood. Chris, I'm just wondering, is it, is it coming from just the welfare? I don't know, one day, one day, you know, I forget enough review and be one day. But you know, that quest though joking at parties is that journey of discovery. And I think what we've identified is there are kind of three transformations that go on in simple terms, without revealing all the aspects of our step by step plan and the first transformation, the journey of self discovery, isn't it is getting rid of those fears, identifying who you are and finding your element or your flow.
Speaker 3 (15:47):
And I think that's the first thing. The second is a journey of knowledge and getting the right information from a trusted place that isn't trying to shoe horn you into some idea, isn't trying to push a bump and an upsell in a course of this and a course of that. Um, you know, so you're getting education from a trusted place in guidance, from a place you genuinely feel safe. And then the application of the knowledge is third part of the journey when you've learned what you need to learn and you've taken your time over it, you haven't tried to rush it. You know, you follow the process and then you put the application in, which is really turning the wheel of wealth. Isn't it? Which we've talked about many times in, uh, on the podcast and in places where, you know, you get that right education, you get the right support, you make the right connections from other people who've been there and done that.
Speaker 3 (16:39):
And the community is full of those people. You then do the DD or the due diligence to mitigate your risk and make sure that you haven't missed anything. And then finally, and only then finally do you complete the circle on the wheel of wealth. And that circle once completed full, full turn of three 60 gets you to an output. And that output is either creating a flow of cash, which you then bank and then starts to build towards your security level or to flow of capital, which can free debt or can pay for some education that helps you propel yourself even further forward. So it's kind of that constant, um, turning of those three things or moving through those three levels of self discovery, discovery of knowledge, and then discovery of what happens when you apply the knowledge in the way that we know. And in essence, that's kind of it, isn't it really?
Speaker 3 (17:33):
And then yeah, once you've reviewed how you've got on and made sure that you've got the right outcome, you're still in flow. You're not out of flow. Cause sometimes until you do something, you don't know whether you enjoy it and then you can either go again or you discover a new pathway when you just go back and start learning some new things to find an even better, safer, more enjoyable way to build your wealth. So, no, it's really, for us, it's quite ingrained now, isn't it. And our students show that when they apply it, it works for them as so many, get through the journey so quickly, albeit in their own pace, there's no rush or there's no race, but people do. So sometimes remarkably quickly, Chris, especially when they've got the leverage of time and the leverage of some finances to back them up, that's when it really works much more quickly.
Speaker 2 (18:23):
Yeah. Um, we've seen some real dynamics within the, uh, private Facebook group now. And um, we talk about the, the drift doesn't delegate us, but you know, it's true. And we hear it so often that people are drifting or they've delegated to, you know, an IFA perhaps or someone else, and just hope that, you know, they would take care of things, but you have to take control. You have to, you're the only one that's going to really care about your wealth. And, um, and, and we see that when people have a clear plan to follow, then that's where they shift from the drifter to the dynamic. And, uh, yeah, we see, we see it all the time.
Speaker 3 (19:01):
Yeah. It always worries me. The delegation bed. I see it everywhere. I mean, it's the path that most people follow isn't it, their busy lives. Um, and when they drift, it's easy to then delegate to a third party, hope that they know better. Usually they don't because they've got their own agenda. So it's their wealth that's being created and you build no wisdom to pass on to the next generation as well, which is really, really important part of the overall journey. Isn't it not just to learn what to do, but to build enough knowledge, to be able to involve your family pass on knowledge to the children, if you have them, um, or, you know, get to a place where you all become part of the same stories that they've become stewards of wealth. And we all become, you know, we start off right now as the pioneers, you know, just discovering the journey.
Speaker 3 (19:52):
And then we pass that journey on to the next generation and then they lead the next generation on the same journey. So it is genuinely uplifting when I see people follow the path and then they start to involve their kids in it. You know, I can really tell then that it works and they're not just giving their money to an advisor. And then they tell the kids will go and talk to the advisor. Yeah. But the advisors getting older. Yeah. But talk to them anyway. It's just not really a solid path to follow. I've got to say
Speaker 2 (20:23):
W C one of the first things that I do with our new members often within the first 30 days or so is, uh, create their wealth map and wealth map is where we put all of the asset information down and personal information. It's a chance to really get to know one another. Um, when we touch on the why it always, always comes down to that legacy aspect, Kevin, you know, it's to give that security, the family, to pass on the education and be able to spend time doing the things we love. And that's what we all right. But, um, yeah, it, it, legacy is almost always the answer that I get back
Speaker 3 (20:59):
And I love your maps, Chris. I know you do them and uniquely, you love doing them, the mind maps, which sort of take stock of all your personal assets, your wealth dynamic, your family situation, you know, every source of leverage, you've got the kind of strategies you're thinking about deploying. It's almost like, um, for the first time, you almost begin to see all of your wealth beginning to take shape on one page. And then that map grows. Doesn't it. By the interaction of the, um, the lessons that you learn, the coaching calls, you have, the actions that you take, the map slowly gets bigger and stronger and better and clearer. And as you begin to sort of not just chart your progress, but chart the increase in your wealth as you move from, you know, nothing in recurring income to hundreds and then from hundreds to thousands and then to multiples of thousands and you can see it.
Speaker 3 (21:52):
And I've even seen people, having their kids, you know, coloring in the, the wealth thermometer has we call it, you know, you can remember when you used to watch old kids TV programs when they were raising money before digital ages, you know, they, they had a big thermometer, which was a target, and we kind of bring that to life don't we? So it's more tactile. And we see the kids coloring it in and red as a, as the parents are moving through and it starts to immerse the kids in doing the right things and kind of being part of the story rather than, um, being anything else, especially when they even get involved in choosing the names and the logos of the family wealth businesses that we see created as well. So these, I know we're kind of rambling away as we often do in the podcast, CRISPR, hopefully people are getting a sense that we love doing this. We love seeing the result and we like how it interacts with people and how the whole family often get involved. At least not at the beginning, certainly over time,
Speaker 2 (22:51):
A little flash sale at the end of July and had some new members join us then. But we always said that we would be opening up again in September. So we're opening next Monday, which is the 5th of October, but only for four days. So there'll be a short window. So if you're thinking about building wealth and you'd like to work with us and join the community, then the opportunity is ODI for a short period in next week. And right now actually we're in the middle of a masterclass, Kevin. So between now and next Monday, the best thing to do to find out a bit more and hear you really show or talk about all of this bit in video format, Kevin is to sign up for the masterclass. So anyone who would like to see that you can just head to wealth builders.co.uk forward slash free hyphen masterclass.
Speaker 2 (23:37):
So wealth builders.co.uk forward slash free hyphen masterclass and sign up for video one and video number one is just really looking at all of those things. We set there about why it's important and the seven different freedoms that we know are freedom and location, freedom of control, creativity. So that's video one, and that really sets the scene. I think before you go into a lot more detail around each of the seven pillars in video two and in video three, showing how the wheel works and also those different points of leverage, which are absolutely key that's this week. And then next week, we'll bring in some of our current members to share how they're getting on. And we've got so many great stories. I think it's going to be tough to choose who to bring in Kevin.
Speaker 3 (24:25):
That's great. I mean, we, we were look, the, the proof in the end is the results of the students, right? It's not got nothing to do with us. You know, the whole lessons beyond this is where we simply a guide, a humble guide with enough credibility to know that the process that we follow works, it's worked for me. And, um, we know it works for others who, who put it into action and, um, you know, it'd be great to hear from our students who can show what's been going on. And, uh, we don't hand pick them as, you know, just one or two. We know it works. So when we got no shortage of, uh, our students who want to tell that story, cause they're enthusiastic about it. So
Speaker 2 (25:05):
Yeah, no, that's good.
Speaker 3 (25:07):
Cause you're going to have to choose them on you really?
Speaker 2 (25:09):
Yeah. Well, you know, I look forward to that and, um, what I will do Kevin as well. I think I'll post the, um, the Ted talk inside of the wealth builders Facebook group, so that the main unity. So if anyone listening would like to watch that, then I'll put that in the wealth builders group. So wealth builders.co.uk forward slash Facebook and yeah, leave some comments, let us know, you know, if that, how that, you know, triggers the emotion and, uh, and thoughts inside of you as well.
Speaker 3 (25:37):
Yeah, definitely. I mean, if, definitely watch that. Can sir, Ken Robinson. Yeah, definitely. He's just an inspiration and I'm so sad to hear of his passing.
Speaker 2 (25:47):
Okay. So thank you for listening today. And, um, hopefully we just, you know, had had a good conversation there about some of the reasons why, you know, it's important to have a plan it's important to have the right support and it's important really to know which direction you're facing in so that you make the journey more enjoyable, faster. And without some of those common mistakes that people often make Kevin.
Speaker 3 (26:10):
So let's look forward to the masterclass. Let's look forward to seeing what our students have to say. And hopefully engaging with a few more people who decide that they're no longer going to be drifters or DIY as, or delegators, they're going to get off their high knees, get off their asses, get off their behinds, whatever language you want to use and do something about being responsible for creating their own wealth, finding their own creativity as Ken would say, and find your own element and be in your own element. Good luck to you all until next time, Chris.
Speaker 4 (26:44):
See ya.
Speaker 1 (26:48):
We hope you enjoy today's episode. Don't forget that we are constantly updating our resources inside the wealth builders membership site to help you create, build and protect your wealth. Head over to wealth builders.co.uk/membership right now for free access that's Wells builders.co.uk/membership.