WealthBuilders Academy is now live! In today's episode we put together the highlights of our launch webinar in case you missed it. Find out more about our 9 step roadmap guide that helps you go from financial insecurity to finanicial independence within 5 years! Hear from our members and our coaches, and find out about the massive deals we're offering until the 30th of June. Make sure to tune in.
The brand new WealthBuilders Academy is now live! We’ve pulled together some of the highlights from the launch webinar for you to listen to in today’s episode in case you missed it. Find out exactly how our 9 step recurring revenue roadmap guides business owners and frustrated employees from a place of financial insecurity to financial independence within 5 years, and hear from both our members and wealth coaches. Plus ...until the 30th June, we’re offering a massive £500 discount on the first years membership.
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Unknown Speaker 0:02 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.
Unknown Speaker 0:20
Welcome to Episode 112 of wealth talk. My name is Christian Rodwell, the membership director for wealth builders. And I'm joined today by our founder, Mr. Kevin Whalen. Hi, Kevin. Hi, Chris. Good to be with you. Again, as always, I know. And we're racing through the month of June. And of course, this is our big Academy launch month. So today, we are revisiting and pulling out just an excerpt of our academy launch webinar that we held at the start of the month on the third of June, because we've had a lot of people saying that they missed it. And you know, we're all busy. So we thought, well, let's leverage time, let's repurpose it and share some of that in today's episode. And we're only seven days away from the launch offer, finishing, which is the 30th of June. So we're currently running a 500 pound discount for anyone that would like to join us. And Kevin, we're just delighted at the the new members that have been joining and, you know, enjoying doing the induction calls over the last few weeks and seeing everyone you know, joining the community. Well, look, I'm so delighted that the pace is picking up. You know, we keep the
Unknown Speaker 1:26
the academy as renamed, but we're keeping it very accessible. We're building an incredible new content now. And we're on a mission list I am to build a huge preferred partner list who outstanding people in their field just bringing great value discounts or bonuses exclusively for wealth builder clients and members. And, you know, I'm gonna push on that front. So I think the membership program now it's kind of fully formed
Unknown Speaker 1:59
is now ready to just bolt on so many extra benefits. So now's the best time ever 500 quid off grumps, you know, it's not a bad deal. No, it's not bad. And, you know, the, the so we've we've pulled out today's is around about an hour long, so we're not gonna say anything too much afterwards. And we're just point people now to a q&a session that we are doing on the 30th. So Wednesday, the 30th of June at 7:30pm. Just to really answer any final questions that people might have. They're not sure, or perhaps to bring a partner along and actually just see us face to face and see that hopefully, we're the real deal, Kevin, and we're here to help. The real deal indeed, what time is that? 7:30pm? Okay, perfect. I'm looking for I better be there then.
Unknown Speaker 2:44
Better put it in your diary. Yeah. Okay. All right, let's, let's head on over to the replay of the academy launch webinar.
Unknown Speaker 2:51
Historically, you know, I've focused much more on, you know, giving guidance and mentorship to others. But what started me off, which is really powerful. Don't worry about the photographs. But just so you know, where I'm from is a little of my roots here. And I'm proud of that. So I grew up in Newcastle upon Tyne, that's the time bridge, I love those bridges. They're just such a beautiful mixture of art and science and wealth is just the same thing, really. And we are going to teach you how to bridge the gap between where you are now and where you want to be. Anyway, my reason why was related to the oil rig. So my dad started life on the shipyards in New Castle building ships. As a welder, you then created a business, we're very proud of that. You created a business which was kind of arranging when the oil rigs and the North Sea was burgeoning. You've got a job there working as a contractor with BP, and then started getting other people who were welders, and an inspectors and all sorts of other things in that area to work for him as an agent. And he did very well until he died. And he died, unfortunately, at age 46. And the point about that is I set a personal milestone, because we were genetic piece and apart for sure to be completely financially independent by 45. And that's what I did. So I focused all of my time energy on that. And my path was slow. Because I did it by trial and error. There were no just as Chris said before, can be quite isolated of anyone you talked to. I didn't have a guide or a mentor, and just started to mentor other people myself, once I'd achieved independence. And now we know since we've been teaching this, that instead of waiting about 15 years, which it took me, you can do it in five years. And now we can mentor people with the community and the help of Chris and the coaches. We can get people to be completely financially independent in five years and most people never ever make it. They can be working for 40 years and still not be financially independent. We know that's true from them.
Unknown Speaker 5:00
macro economics. But I would say that, you know, the lesson I've learned is somebody else can help you get there faster, safer, and more enjoyably. And that's our mission to help people do that.
Unknown Speaker 5:15
There's a little bit of background about us. But why do you want to build wealth? Well, as we said earlier, Kevin and I are speaking to people every day. And we know some of the common reasons, more time to travel, to just enjoy yourself and, you know, explore the world a little bit. Or perhaps it's to get out of the rat race and to be able to work on your own terms from wherever you choose. And there's Bronwyn actually and john and Brahman is one of our wealth coaches, and you may have heard Brahmin talking on wealth talk, just a week ago. So Bronwyn will be sharing a little bit later on. And, you know, you can see in the background there, the elephants, because for Bronwyn, freedom of location was one of her highest priorities.
Unknown Speaker 5:59
So maybe it's meaningful causes, maybe you want to be financially independent, so you don't have to worry and trade your time for money because you have more meaningful things that you want to go out and do and help people. Or very often, we're here, it's to create a lasting legacy. So to really pass on the wisdom to the Next Generation and beyond.
Unknown Speaker 6:19
Maybe it's time with your family now. Or maybe it's more freedom in later life. So one of those probably will resonate with you. And it all ties into the seven freedoms, which we've talked about on a podcast. And it's content that we keep coming back to Kevin, because we just keep hearing these same things time over time. Yeah, and everybody's got a different one, that's their priority, because you had a job and you had some of those things that that a job gives you. But you know, I know your big passion was location, and you spent some time in Lisbon writing your book, sack your boss, and you know, that was important to you. For me, it's always been control.
Unknown Speaker 6:57
I'm unemployable, frankly. And I mean, many other people who are, and I can't be told what to do don't like being told what to do. And I was a rubbish employee. But but I'm pretty good at doing what I do by doing things on my terms, and everybody wants a combination of things. But one of those probably drives you more than anything else. And I'd be curious, and interesting to see what our audience has to say, yeah, we'd love to hear which one of those seven freedoms is most important to us. So on screen now, you should see a poll, and you can select one option. So which is the most important to you? Okay, well, I guess no surprise, right? When we're talking about financial independence, that that would be top, but time second, and control. So I'd say like, probably are the top three that we hear most often, Kevin? Yes. And if you've got financial freedom, of course, and this is having multiple streams of recurring income flowing into your bank, like a self replenishing bank account, the money shows up so you don't have to show up. If you've got that financial freedom, then all of the other things will pretty much take care of themselves. Anyway, the big question, what's been holding you back so far? And we know the things that probably are driving you all of those freedoms that we just saw, but his lack of knowledge holding you back? Do you feel like you simply haven't got enough information to get going, or the opposite of that, which is too much information, or information overload, which is very common, because there's so many conflicting opinions online, you just get bombarded with different ideas. And it's difficult to know which way to turn sometimes. It can also be difficult to know who to trust, again, lots of different opinions. And, you know, perhaps you're almost analysis paralysis, with too many choices that you do nothing. And another reason might be that you feel you simply haven't got enough starting capital to begin.
Unknown Speaker 8:56
Perhaps it's fear of making mistakes, or, as we've mentioned earlier, you simply don't have a clear plan. I don't know if there's any points you want to pick up on on those, Kevin? Well, I think a combination of those really, I think, if people have made mistakes before, they definitely fear those and they don't want to look bad.
Unknown Speaker 9:17
And I think information overload probably seems to we see overwhelm is probably the biggest reason why people get stuck. And the other thing is then dealing with opinions and principles that wealth builders, we teach principles. We don't give our opinion. We say this will work. This is a principle, follow principles. You build wealth, follow opinions, you go round in circles, and end up just like a drifter.
Unknown Speaker 9:47
So we've promised to show you the plan tonight, and we'll come on to that very shortly. And
Unknown Speaker 9:53
the wealth builders Academy is it's a structured process. It is a roadmap that we've created, and it's tried and tested.
Unknown Speaker 10:00
And it's built on the foundations of quality education, great support, and trusted connections. And we're proud to be impartial, and holistic. And we'll share with you some more details if you're interested in learning more about the Academy at the end of the webinar tonight. So, Kevin, our declaration of financial independence, we've got member Graham Barnett, they're holding up his signed declaration. And here are the key points. And I know this was important to you put this together some time ago, and it's still a key part of our membership.
Unknown Speaker 10:36
Absolutely, and interestingly enough, I'm playing golf next week with Graeme B, and we're having our mentor session on a golf course you know, so that's all good fun. But the whole idea behind creating a new declaration of independence and enshrining a set of values was because we wanted to build a community, we had in mind at least I had in mind at the start 50,000 people all sharing a common set of values, sharing a common language, with a common objective. And these are embedded in those. So unimpeachable integrity, building long term relationships being willing to help people and be helped. In the same way, as I described, the time bridge, the bridge is a kind of a monument to, as I say, beauty and, and engineering all at the same time, we want to do the same thing with with our wealth building, we want one hand extended ahead of us on the bridge, asking for help and having the humility to do that. And another hand extended behind us being willing to offer that help. And what I've been so thrilled to see is how many of the successful members in our program have gone on to become coaches, because they want to give back so genuinely, not because they need the money, they don't need the money. What they're doing is saying, hey, I want to help other people cross that bridge, with skill, and with care, and to ensure that people don't fall off and, and so on. And the big one for me is you know, as the legacy, it's not just what you leave people that counts. It's what you leave within them. And I believe in sharing wisdom, building wisdom, and passing that wisdom on through the process, which isn't in this session today, but is in later sessions in our program called the family charter, which is to take these values, and extend them to 150 years worth of planning, so that you're leaving wisdom for the next generation. So they can expand that self replenishing bank account for the next generation. And the generation after that. And we become the pioneers of today, to leave a legacy for tomorrow. And that's a really important point to get across from a wealth builders point of view. And it really is a transformative process. And, you know, we obsess about the transformation of our members. And you'll be hearing from one of our members, rich co tonight, who has transformed from being an employee to building wealth, and now to being our Community Support Manager as well. And we just love the connection that we have with our members. So, you know, just a little bit of, you know, review to back up some of the words that Kevin and I are saying, but, you know, feel free to go to trustpilot and search for wealth builders have a look and see what some of our members are writing and sharing about their own experiences. So let's get stuck in and want to begin by just doing a really quick kind of self wealth assessment just for you to get clear on how big the gap is from where you are right now, in terms of how much asset income are you generating each month, to how much you need in order to be financially secure, and then to be financially independent. And the way that we illustrate this is through the five levels of wealth. And Kevin, perhaps you could just give a brief run through of these five levels, so everyone understands the meaning.
Unknown Speaker 14:02
So wealth is the process of ownership or control of assets that generate recurring income. You know, it's recurring, because you don't need to do much for the money to keep showing up as I mentioned earlier on. So if you stopped work, if you stopped that one thing, whether it's in your business, whether it's in your self employment or your profession, as a doctor or a dentist or a lawyer, or you're in a job if you stop if those things stopped, what level of recurring income would automatically flow. If it's enough to give you everything you need to meet your current expenses, locked down expenses that say you know the life in lockdown, you would be financially secure. If it's less than that, in other words, you've got less money that would naturally flow automatically coming into your bank account. less money than your expenses, you're financially insecure and most people
Unknown Speaker 15:00
People who joined the Whirlpool the program start there, but not all. financial independence is the level that says, This is the amount of money that once I think about it will give me the life that I would treasure, a life where I've got no compromises, whatever I want to do in my life now, okay, we're not traveling as much as we were before. But nonetheless, when you get back to that normality, what would be your lifestyle? What would you be doing? And what would that level of income be? And for the most part, Chris, in our community, security's around four to 5000. And independence is around 10,000. But everybody's numbers different. And we don't judge that we don't value that. abundance is when you have so much money flowing into your life, you're not even spending it, you're simply accumulating more and more and more. And that means and that's usually what happens once you reach independence, it's an automatic process, because you keep generating results from the activities that you've done, then it gives you more time for thinking about other things, thinking about causes, creating more value in the world, beyond what you're doing personally. And the legacy is the family charter, it's the it's the idea of creating that long term legacy, and so much money flowing into your your family life. And we encourage everybody to create a family wealth business. And, you know, everybody creates that and creates a name for the legacy they want to leave. And once they name that, then that's a longer term plan. But we don't get too focused on that. We set the name at the beginning. And we focus on the charter later on, but either way, if they're the five different levels that we've created, and they're benchmarks against, against which you can assess where you are today, yeah. So you probably can have a rough idea in your mind where you are today, in terms of those levels. And
Unknown Speaker 17:02
the here's a big number, Kevin, but what does this have significance against? Well, anecdotally, because there are no records. But certainly all the main protagonists in the world of wealth. And by the way, just one small point, I believe we are the only holistic and impartial guide to wealth in the UK, I don't believe anybody is doing things in the same way as we are. But anyway, 95% of the population will never make it to financial independence, they will never reach that level. And they don't do so for all the reasons. You mentioned, a lack of planning, lack of trust, overwhelm fear,
Unknown Speaker 17:40
getting stuck in the trap of the illusion of the one single income source supporting them, because it they get caught up in the needs to have that income. And then in the end, that income stream always dries up. And when it dries up, they will often realized the devastation of the drop in income that they will have and more of the top end of the income levels, actually, the more you earn, the weaker the long term future will be. Because most people who've got high incomes, generate higher levels of expenses through mortgages and other things. They'd like to find the things in life. And then when that income stops, that gap is enormous. And that's a tragedy.
Unknown Speaker 18:20
So why would you want to get out of the 95%? Well, these reasons here that I think we've emphasized, partly already not to be dependent on just earned income, and not to have to work until later years, when you are left with very little time to enjoy life, and just really not being in control.
Unknown Speaker 18:41
You know, being in a job, never really knowing if that job will still be there tomorrow. And it's definitely more risky. And of course leads to more financial concern, those concerns never go away. Because almost everybody who's relying on a single source of income, because their time poor rely on a single source of income for their long term wealth, which tends to be in the stock market. And that's volatile, and likely to get increasingly So as we've seen, and we measure these things, as economists we measure, the volatility of the stock market is getting more and more and more volatile, which means greater insecurity when you rolled. The last thing you want is stock market devastation, taking away large portions of your income, that you're simply too old to get back. And and this is why most people are working in their 70s now, because they just haven't managed to build up multiple streams, they only have one.
Unknown Speaker 19:38
So the question in your head is probably okay, well, how do I become part of this 5%. So, we promised you tonight that we will show you how you can create a clear plan within 60 days to build predictable recurring income from assets. And I've highlighted that part of it predictable recurring income from assets
Unknown Speaker 20:00
Let's focus on exactly what this means. So Kevin, I'll invite you to just share the difference between earned income versus asset income, if anybody is not clear on that.
Unknown Speaker 20:12
Yeah, sure work income, earned income is time traded income, easy to measure, because in simple terms, you can divide your salary by two. And that's roughly what your earned income per hour is. So if you're on 50,000, you're on 25 quid an hour 100,000 is 50 quid an hour, a million is 500 quid an hour, essentially, you're always trading time for money. And that's a difficult illusion to break free from. Whereas assets and there are only seven assets, as we'll discover in a moment. But seven assets that can put money into your life puts money into your life, while you're asleep, you don't have to be doing the work continually for the money to flow, the money shows up, you don't have to show up. And it is permanent. It's not temporary, like earned income earned income is always temporary, has earned income is done well is always permanent, which means you can leave a fantastic legacy as well.
Unknown Speaker 21:15
And there are only seven assets, and we refer to them as pillars. So the Seven Pillars of wealth. And you can see here, there are three assets or pillars on the right hand side there, which are home capacity, pensions, and investments. And on the left hand side, you have property portfolio, business, intellectual property and joint ventures. So can you spot the difference. So pop in the chat,
Unknown Speaker 21:45
if you can, if you can see a difference between the left hand side and the right hand side and we'll see if see what everyone what people are doing. Now let me describe a little of what they mean. So for the most part, the you can see why we call them pillars because the logo of wealth builders is a foundation, a roof and seven sturdy pillars in the middle. And by the way, I will continue to offer my challenge every time I'm on a webinar, that I believe there are only seven assets, they're not eight. So if you can find an eighth asset, I'll be delighted to send you a very nice case of champagne to acknowledge that and then I'll build that in to further IP. But most people who are in the 95% have a home they live in,
Unknown Speaker 22:33
usually not generate any income, have pensions, which they can't touch till they're 55 or later, and investments which are invariably also on the stock market. So one source of income, one source of retirement plan, one home that they live in. Those who build wealth more permanently, will tend to do so with the property. Getting multiple streams of income from rental from business from recurring income and recurring profits, from intellectual property, from books, courses, memberships, and joint ventures becoming a bank and earning interest. From there, almost like a bank does now just getting a long term stream of income flow from the use of their money. And there's a fundamental difference between both sides be interesting to see what people are spotting Chris. So what do you what are you seeing there? Yeah, okay, so Emily's saying the right is mainly the 95%. Who's right. Yeah, Dave Brown is saying the right of future incomes, the left are regular incomes. Yeah.
Unknown Speaker 23:44
Not necessarily the case. But I take the point, Tom is saying left are recurring.
Unknown Speaker 23:50
And Oh, interesting. Man from Liz here, the right hand side is more traditional. Sure. So we actually we do call those the traditional pillars on the right hand side and entrepreneurial pillars on the left hand side. Yeah, there are some other fundamental differences. Of course, one of those is your ability to add value on the right is almost always very little, yes, you can add value to your home. But if you're living in it, and not creating a revenue stream from it, you're not adding much value at all. You can't add value to the stock market in pensions, and you can't add value to investments either. So you're kind of limited to what a marketplace delivers. On the other side, you've got much more ability and power because you learn how to create value. So on the left hand side, you become a value creator. On the right hand side, you're just reacting to the value you get. On the left hand side you're building steady streams of recurring income. On the right hand side you're normally accumulating till late today. You downsize when you're 70. You get your pension when you're 60. You build up your investments until you're later on and then you try and turn those incomes
Unknown Speaker 25:00
Those cash flows into income. So you're almost always just simply accumulating. And when you accumulate, you're at the mercy of the market. Whereas if you've got multiple streams of recurring income coming in from many places, you're not dependent on any one market. And of course, you can leverage on the left hand side. And many of our smarter wealth builder, students will take money that they've got on the right hand side, and they will cross it over that bridge, there's that word bridge, again, to the left hand side, and us money locked in the capacity in their home, locked in their pensions, and locked in their investments. And they'll turn it into instant seed capital, like seeds growing to build other assets, or more permanently generating income.
Unknown Speaker 25:48
Yeah, so hopefully now we've cleared up exactly what we mean by earned income versus asset income, and recurring income, these terms that may be new to you, and why don't we hear from one of our members who actually has implemented some of these pillars, and Richard Coe, if you are on the webinar, it would be really wonderful for you to just share a few words of, of these points that we can see on screen here, you know, what was driving you what was important, and and then what was the reason for for obviously, joining wealth builders.
Unknown Speaker 26:24
Thank you, Chris. Hello, everyone. Yes, I joined wealth builders, two years ago, back in May,
Unknown Speaker 26:32
the founding members of the program, I was in a very busy job at the time, in the airline industry, of long hours, lots of travel, which sounds very glamorous, but it wasn't. So I was really looking for a way to escape the rat race. And I didn't really know how or where to start. So I came across wealth builders, and found what I was looking for with teaching the principles of building wealth. I'd started with a small ecommerce business at the time, then selling products on Amazon. And then when I joined wealth builders, I also started in property added party property education. And that became my secondary pillar to focus on building my recurring income, which at the moment is roughly at about 2700 pounds a month is still at financial security, but creeping up towards the financial security level. And it's completely changed my life. I have quit my airline industry job. And I joined wealth builders, at the start of this year as the Community Support Manager supporting Chris and Kevin, and all of our members on on this journey.
Unknown Speaker 27:45
Yeah, brilliant. Thank you for sharing rich Co. And yet you absolutely have embodied the principles. And we'll find out a bit more about exactly how that process works in just a short minute. So thanks a lot rich. Thank you, Chris.
Unknown Speaker 28:00
So our promise once again, tonight is to show you how to create a clear plan within 60 days to build predictable recurring income from assets. So we understand what recurring income from assets are, we know there are only seven assets. So how can you create a clear plan? Well, here is the roadmap or the blueprint, however you wish to refer to it. But this is what we lovingly refer to as the recurring revenue roadmap. And it really is the only way that you can move from a place of financial insecurity, which is point A through to security and achieve financial independence, which is point B. And the journey here is a journey that doesn't happen overnight. It can take on average, three to seven years. So we say, a five year journey for most people, Kevin, if they're committed if they have a clear plan, and they have good support.
Unknown Speaker 28:55
If five years is about the average,
Unknown Speaker 29:00
the commitment is normally a couple of hours a week. No. So if you can do 30 minutes a day, you're you're really doing well, couple of hours a week to build your wealth. And you starting with some sort of financial leverage, which you'll get to Chris, I'm sure in Step five, to talk about. So if you've got some something you can bring or time to bring, and you've got a commitment. So commitment is to start. It's not knowing what you need to do at the start is just making a commitment. You want to be financially independent. Once you make the commitment. Everything else will flow towards that. But you can't know everything before you make the commitment. it's counterintuitive. I know. But you have to make the commitment first Otherwise, you'll constantly be seeking the best the magic, and that will get you back to being Under the boardwalk which is a drifter song, if I remember Chris, so you know, or Saturday Night at the Movies, which is another one isn't it? So
Unknown Speaker 30:00
Just go to the movies, if you want to do that, to get entertained, this is not meant to be entertaining, it's meant to build wealth, five years to build wealth is a much better place to be than 40 years to have insecurity for the rest of your life. I'm not sure, I think I would do it this way. Now, I could do it in five, you know, we can teach it in five, when it took me three times as long, because we've learned all the lessons, we've made all the intellectual shortcuts, we've made all the connections, we've got everything completely nailed. So anyone can follow this, irrespective of where you're starting in age, irrespective where you're starting with money, right now, because there are plans where you can build wealth, without having to have money to do it, you just have to give yourself more time. Yeah. And Kevin, this is a process, you've been teaching for many, many years, but more on a one to one basis in a mentoring capacity. And all the IP was inside your, your head. And I've had the privilege of being able to kind of pull that out. And together, we've created the roadmap here, which is just made it a lot more simple for, you know, everyone to follow. It's really made it accessible. And, you know, we can break it down in a moment. But you know, it's based on based on, you know, your own experiences. So it's tried and tested your own principles, not opinions, as I said earlier on, these things work. It's not an opinion that works. It's not you should do crypto or gold, or it's not about that it's about principles of generating recurring income. Yeah. So let's break this down for you can see there are three stages. So starting with stage one at the bottom is all about building confidence. Because we know that for many people, I know myself included, you know, on my journey, invested lots of money, lots of time, lots of energy, trying many different things in in the beginning. And you know, some of those things don't work out. And it can be a little bit demotivating. And you look back and you think I'm not really making progress. And you know, you're trying, you're trying, you're working hard, you're still not seeing things happen. So we know that building confidence is important and getting that foundation in place. And it can knock you mindset. But getting really clear on your reason why is a huge catalyst as Kevin shared earlier. And of course, we use many different tools, wealth dynamics is a tool that helps you understand which of the eight entrepreneurial profiles you are. So that all is wrapped up into step one, which is mindset there. So let's have a look at stage one, which is building confidence. So once we've covered off, you know, really getting clear on on you as an individual, what are your strengths and weaknesses, you know, what are your interests, what's driving you and building driving you to want to build wealth, then we move into step two, which is just really doing a self assessment, looking at your life right now, looking at the money that's coming in, and going out. And we have a process in step two, which is called debits process, and perhaps we'll share a little bit more, we have an example in a minute of one of our members who, who made a huge saving, just with a few hours work by following that, that exercise. And it's all about stage two, step two, they're getting really clear on those five levels. So really understanding how much you actually need to be financially secure, and how much to be financially independent. And when you actually break it down. Sometimes it's not as much as you think. And step three, there is a critical step. It's what we call the roof. And it's the protection of you and your assets. And it includes really just taking stock of Do you have wills power of attorneys? Do you understand trusts, and homeownership? A few different aspects there, which are things that often Kevin, people have got on the to do list, but because it's not one of the most exciting tasks, it kind of gets pushed along. And in some cases, it never gets done. No, and this is true, you know, when I relate the story of my dad who died at 46, unfortunately, as a business owner, died without a will died without a power of attorney died without a business plan died without a shareholder agreement. So everything went when he went, so you can't leave it till you're wealthy, you build and protect your leaky roof as you go. And while it's never the most pleasant thing to deal with these, it's really important at all of our members say how, what peace of mind they get when they do it, and they all do it. You know, it's again, it's just something that we like to make sure that you get your roof solid. And then when you grow you build a stronger and stronger roof because you're building a stronger and stronger
Unknown Speaker 34:38
structure for yourself. So just important to do it, but it's all done within 30 days. So yes,
Unknown Speaker 34:44
absolutely. So yeah, you know, once you have your foundation in place, then as Kevin said, that can take you know as little as 30 days really and and let's just look at one of the examples there from Adnan. So, one of the exercises in steps
Unknown Speaker 35:00
We said debits, Kevin, which is really just kind of looking into, you know, your life for uncovering hidden money that you didn't realize was there and admin story was was, you know, not uncommon actually, because he's not the only member who has found a significant amount of lost pension money. And you can see there he found 50,000 pounds, simply by going through the exercise. And, and yeah, you know, he's now reinvested that into his property to generate more recurring income. So a great result there, Kevin, you know, the biggest we burned is 100,000 that somebody didn't know they had and the largest that somebody sent me a very fine case of red wine, because I pressed them and said, Come on, let's do it. Now, let's sit and do it. Let's do it. Come on, let's do it. Because you're putting off you're drifting on this one. And when you did, it was 255,000 pounds. So it's crazy, that people forget, things they've left behind, particularly pensions, because they're so dull and boring. Generally, they're a bit gray on, but by securing that money, and while we will be talking much about SAS, this evening, it's a very powerful tool to take control of that money and walk it across the bridge, and use that money to build recurring income, instead of just leaving it languishing on the merry go round in the stock market. And that's very, very important strategy that almost all of our successful clients and members have gone through.
Unknown Speaker 36:30
Yet, so Luke joined at the same time as admin, and again, went through the process of debits and saved over 3700 pounds. And, you know, that took I think, about three hours for Luke just to really just go through everything that was already kind of coming out of his bank accounts and just reassess where he did need, what he didn't need. And it's something we all kind of know that we need to do. And sometimes we do it, sometimes we don't. But I think that's the thing about having a structure is we make sure you know, you get things done, you get your roof done, you do your debits, and you check it every year. And you can see, look then has used that to help build multiple streams in the property pillar, joint ventures as well. And he's now generating a recurring income of 3000 pounds per month, and earlier this year, also quit his job. So you know, we just love hearing Luke's story, he, you know, he's just been a dynamo since he joined.
Unknown Speaker 37:27
And the other thing about debits, which is those people who just like to know what they are, we won't go into detail, but it's debt, education, bills, insurance, tax and support costs, that's the hidden costs that you not paying attention to like the fees to IFRS, or the fees to financial services or whatever. And almost everybody finds money, the average around about 1000 pounds, but it's money that you find when you find it, you plant it, they become seeds for building wealth, wherever you want to do that. And more often than not, we can show people how to get education at a fraction of the price they pay elsewhere. Because we've got such a strong thriving community, and a trusted partners that we work with, who give our members you know, significant discounts. And some ways, you know, which we won't go into now, you can actually be paid to get education, when you know what you're doing. So you're turning your money into a source of income and a source of learning all at the same time, which is a sort of a double ROI, if you know what I mean. Yeah, so you can see just two examples. So it's very possible within the first 30 days to uncover significant amounts of money that you simply didn't realize were there. So that moves into the second stage of the roadmap, which is stage two, all about building knowledge. So once you are, you know, have that foundation in place, it's given you that peace of mind, you know, those important things are done, then it's time to really start learning about the Seven Pillars. And that's step four. So obviously going into detail around each of those, but then really deciding which ones probably are the most suitable for you, because you certainly won't be focusing on all seven at the same time. And in fact, we would like you to focus on just one or two, and we can help you eliminate the ones that probably not right for you now, and they may well come into play later on. And once you understand about the Seven Pillars, then the key to building wealth is Step five, and that is leverage. And there's five types of leverage that we teach and that's financial leverage. Obviously, looking at your life where have you got financial leverage could be in your home or your pension or investments or your properties. And then intellectual leverage is it's really what you know, but also what you're interested in. So looking at your experiences, and relationship leverage is who you know. So have you got a network of like minded people around you and I part of a community that you can learn from and systems is, is another form of leverage. And then the most important at the bottom there Kevin is leveraging
Unknown Speaker 40:00
Your time, so making sure that that small amount of time that you are focusing on wealth building is spent on the right activities. Yeah, and you must power through the time, whether it's, you know, your half an hour a day or two hours a week, whatever you've got, you must leverage that time. And that's why we talk about different ways you can box your time, you can leverage your time, you can accelerate your time, you can work with other people, to give you more time, because other people will bring leverage to your time, but you have to give it some time. If you have zero time, you will build zero wealth, you must give it time. So we need to establish what is the amount of time you've got combined with the other forms of leverage, combine them with your pillar that most interests you, then we matrix that out and help you choose the most appropriate pillar and strategy that fits your unique leverage, which means you don't get overwhelmed. You don't get bombarded. You focus on one thing, or two depending, but usually one or two to get you through to the next level, which is when you're aiming towards security. Yeah, so let's hear from one of our other members. And Ivor Bennett is a member who joined us last year actually, just about a year ago now. And Ivor has been on fire since day one pretty much. Are you there Iver?
Unknown Speaker 41:29
coil, quite good. Kevin. Hi, Christian. Hello, I've So thanks very much for joining and just sharing a few words. And I've put some points there just, you know, to emphasize that I remember you telling me on the wealth talk interview that, you know, it was you had a bit of a pension shock you were speaking to someone at work, right. And you suddenly thought, Well, if I just continue on this path, it's not gonna take me to I want to get to so maybe you can share that point with with everyone. Yeah, it's really good point. And I think it's, you get kind of life changing events as you go through. And the, you know, one of the points I had, there was my old boss, he worked. He had like, 30 years worth of pension to really good pension pots. And I just remember him getting ready to retire. He was sitting at a desk, he looked over and he said, I've just got my pension figure. And it was just like, it's like a smack in the face. And I've just realized that I was just a million miles away off from where I needed to be. And I just continued to, I guess, sleepwalking into retirement and look at the pension. Not really attached to it.
Unknown Speaker 42:37
But I really thought just, that was one of a trigger of events that I really wanted to really kick started me into the wealth building, I think. Yeah. And then what, you know, what prompted you to join wealth builders?
Unknown Speaker 42:50
Yeah, well, I think I was overwhelmed. And I'd spent, so I've only started wealth building, beginning of lockdown, really. So start start day one of lockdown, we got our first buy to let investment auction. And I think that overwhelm and media in your social media and everything that you can consume everything and consumed and I had a bit of a plan, but didn't really know where I was heading. What I really liked about what I found with listening to wealth talk and I was able to connect with I felt like I know, you and Kevin anyway, for all the episodes that had been used anyway. And I think when we had our conversation, it was more around. You know, I was worried about the time I said to you know, I'm not sure I'm gonna have enough time to do property as well as wealth building an hour conversation. You just said, Well, this time next year, are you going to have any more time and it was quite a clean cut answer on that? Well, no, this is probably the best time I'm gonna get I wasn't you know, wasn't direct traveling into the office. So I've made sure it's leveraging my time. And yeah, so that really just cemented that I've got a property strategy and overlaid that with wealth building. It just kind of all worked hand in hand. And you know, I have not regretted it since since they want to join
Unknown Speaker 44:07
Yeah, and now generating income streams from different sources. So multiple streams now and I always love your posts in the Facebook group and you're always there every month on the q&a, sharing your updates, which we look forward to and you know, that aspect of community either you know, would you say that that's been important for you it's helped you progress a bit faster. Yeah, I think very much so. So I guess so my wife she's she's there supporting me but she's not really involved in the in the whole wealth building aspect. So I think without the community would have actually been really lonely I guess the now you get a bit better account accountability from posting in the groups there and, and I think everyone goes through ups and downs when you're going through this journey. And I think, you know, you see other people think hearing the other stories and that really for me was the catalyst it if you're ever feeling down
Unknown Speaker 45:00
You've seen someone that posts that they've just given up their job, or they just hit their financial target. And it's really achievable. And I think that the community gives you the mindset, because you've got to get over the mindset. And once you have got the plan and the mindset, it's really just about implementation. And but I think that's what the community gives you. It really just gives you that sense of well being and and that you're not on your own. And if you can answer a question at any point in time, and, and you do start to connect and and form some really strong relationships as well.
Unknown Speaker 45:30
Brilliant. Well, thank you very much for sharing Ivor. Thanks.
Unknown Speaker 45:37
Okay, so we've looked at stage two there. And stage show is all about building knowledge, we know that that can only come following the confidence, which is stage one. So how do you now create a plan within 60 days to build predictable recurring income from assets? Well, at the end of stage two, is when we create your one page wealth plan, and this is a new aspect of the Academy is, it's a new one page wealth plan here to help you stay super focused on your path. And this will be different for every person, but it's based on the principles the fundamentals that we've already shown you. And this is really the end of the first 60 days is when you'll have your clear plan of which will be your primary or secondary pillar, your strategy, where's your leverage coming from? What are your financial targets, really getting clear on how big the gap is from where you are to where you want to get to what's driving you all of these things wrapped up together, of which you'll have a really good understanding of by this point, and will have done your induction call as well, which is a process where you and I would spend an hour on zoom, creating what we call the wealth map. It's it's a mind map. It's a really visual creative process, where it's a snapshot of where you are today. And I hand that wealth map over to you. And that becomes the foundation for your one page wealth plan. And the end of stage two is when we then assign you with one of our wealth coaches. So every month, you have a one to one coaching call in the academy with your coach and our coaches are on screen here. So one of our coaches is actually beaming in alive and direct and Bronwyn, are you there?
Unknown Speaker 47:26
I am indeed Hello, everybody. Hello, Bronwyn. So I enjoyed our interview on wealth talk a week ago, I'm sure a few people on the webinar tonight have heard that. And obviously, we were talking about the importance of the freedom of location. So it'd be really nice broman if you would share a few words of you know, how you first connected with wealth builders. And obviously, what was your journey that led you to that and and what's happened since then. So I'll be as brief as possible, because I know we've got some so much to share. But yeah, my introduction to wealth builders was meeting Kevin, when I first started wanting to learn about property. And this network, once you start getting an education is a very, very small network and meeting Kevin opened my eyes up to much more broad opportunities of creating wealth, not just property. So my backgrounds banking, I spent 21 years in Lloyds Bank, and whilst the pension didn't look too good, well, actually, it looked Alright, to be fair, but I didn't want to carry on working until 67 years of age, which is when I was told I could draw down my pension and I thought no, I've got way too many things I want to be doing in my life. And how can I create a recurring income to allow me to have the freedom to do other things? And, and that started with property it started,
Unknown Speaker 48:59
you know, an education around what is it possible to to use property to create additional income? And then really, it's about understanding the other pillars. And you know, haven't been a banker for that long, I thought, well, I know quite a lot about finance. But clearly I didn't.
Unknown Speaker 49:20
And I think a lot of people don't you know, we don't teach this stuff through schools, we don't teach it and we don't share it enough. And that's why I'm passionate to share my knowledge of what I've learned and hope to to to help other people get to some sort of independence much quicker than I did. So that's why I'm you know, I'm a coach, and I've got a lot to share. I've got lots of different pillars that I now you know, get get some good returns from, but also I'm doing what I love and I'm in Botswana at the moment. I've been volunteering outs in Namibia with my
Unknown Speaker 50:00
Husband for five months. And then we're back on the road having some fun discovering new places in Africa. So whilst I do that I'm able to continue to get a regular income from my property portfolio and, and also continue to coach and help other people just because technology enables that. So I talked a lot about that on wealth talk. That was literally launched last week, wasn't it that that particular podcast? So?
Unknown Speaker 50:30
Yeah, if anyone wants to hear more, listen to that podcast and connect with me. But that's where I am. Yes. Well,
Unknown Speaker 50:39
Rebecca is just posted. Awesome. So enjoying enjoying that? Indeed. And actually, our our podcast episode that came out yesterday was a member spotlight with Adrian Taylor, and you've been Adrian's coach. And just maybe we talked about the transformation transformation process, really, that we see people move through that roadmap. And, you know, what have you noticed as being a coach from when from you know, when you first have that first induction call with someone to where they are in kind of 612 months later? Yeah, so I'm Adrian's coach, I'm also ivus. Coach, so either he just he just commenting. I'm also his coach. So that's a coincidence, on today's
Unknown Speaker 51:21
webinar, so yep, coaching, very, very important to have some sort of accountability, to have a regular monthly look into, you know, did I do what I said I was going to do last month, but also, you know, there might be some issues that have arisen, and you want, you want the ability to talk to somebody in confidence to talk to somebody that has got some experience, who can perhaps give you some, some ideas? And yeah, when people start out, they they're not really sure how or does coaching do. And what I find is that with different people, I have a different approach. And, you know, I think depending on what people really need, I will adapt to that. But also, knowing the process and knowing the steps, it's a fantastic, it's a fantastic process. But sometimes it's the mindset that you need to get back into into gear, you know, there are ups and downs with this, it's not easy, it takes time. And when you've got when you're in that down bit, you need somebody to just lift you up and go, okay, you know, it's okay, you can, you can continue. But equally when you're at the at a good point, and you've done really, really well. You want somebody to give you that feedback, and you know, to share some of that, that good stuff with so. So it varies hugely. But I think coaching is so important that you have that on a regular basis. And you commit to that, because certainly from my experience when I was learning, knowing that I had a coaching call coming up, just gave me that little lift of I better make sure I've done what I said I was going to do, but also prepare for the next session around well, where am I issues? Where can I get value from that call? So that I'm not wasting the time. But yes, it certainly is essential, I would suggest if you want to achieve your goals, to commit to some sort of regular engagement and coaching. Yeah, well, thanks so much for taking some time out Brahman from your adventure, and we really appreciate it and obviously thank thank you for all the work that you do as one of our wealth coaches. They probably accent Kevin just you know, maybe you have a word just on some of our other coaches on screen here but um, you know, definitely Chris is another client similar journey to to Bronwyn there.
Unknown Speaker 53:51
Yes. So, you know, Chris was engaged with, with me as guide on a similar journey to Brahman really with the banker, turned bank.
Unknown Speaker 54:03
Really great coach, and anybody meets him knows the integrity of the guy and how he's so keen to help Carol who's got brilliant property experiences as a mentor, with another coaching organization and property man issues outstanding in the field of investments as an ex.
Unknown Speaker 54:22
You know, city analysts and city broker, or guardian who got his own story recently came out, as well on the podcast, you know, born out of a similar experience, to me actually a tragic death, but not of his father, but of another family member. And of course, john, who's our most recent addition, who, you know, at the beginning, didn't think he would want to be a coach, but he's just enjoying the journeys embraced it so full on, you know, john plays everything full on. And when he managed to achieve his own successes, he thought, yeah, I want to help people and I want to give back and and so
Unknown Speaker 55:00
And none of these people are doing it for money, they're not time trading, they're not replacing something with a job, they don't have a job. They do it because they want to do it, because they want to add value. And that can only really come from a place of complete confidence and where they are financially. And you know, with real john has gone through the process richardo gone through the process, Bronwyn has gone through the process. And Chris Henry have gone through the process. Others have other coaches didn't go through our process, but have gone through the process with others. So they're great coaches, and we're always looking to build more as our membership grows. And I'm sure some of our successful members today will be come the coaches of tomorrow and probably more on that in in coming episodes, I think.
Unknown Speaker 55:47
So I hope you're now beginning to see how this plan does work and hearing from some of our members and our coaches as to exactly how it works. And we've looked at stage one, which was built confidence, we've looked at stage two, which is then on good understanding of the assets and pillars. And the final stage now, once you have your plan in place, is to take action. So stage three is all about building assets. This is where you will work with your coach on your specific plan every single month, every 30 days. And your coach will help you to turn the wheel of wealth, which is step seven, there, Kevin, and I will pause because this is such a critical step. And maybe you can just say why it's so important. Yes, it's really critical. Because everybody who has gone to different wealth dynamics will try and do something to accelerate the process. Everybody's hungry for success. But there's a process and we call it following the wheel.
Unknown Speaker 56:53
And while we don't have, you know the time to show you every intricacy of it. There are five distinct steps in the wheel. The first is education, knowing enough about the asset and being clear, you do know enough, you're not guessing. You're not listening to opinions, you've got facts, you know what you're doing. The second is support, which is that impartial, holistic coaching community, nobody's pressing you into doing one thing or another. There's no upsell, there's no hope you need to go on another course there's, there's none of that taking place. The third is connections that's bringing the education to life, seeing what other people are doing. So you can just see it an experience and say, Well, what do you actually do physically? And how do I feel about that? Do I see myself doing that. And in many cases, the as you did, Chris with with one aspect of property, you went through the process when this isn't for me, you and that's good, though, is good. Or it's frustrating because you don't get to achieve an outcome. The successful turn of the wheel, by the way, is either the flow of cash is a lump sum, or cash flow can be either. But nonetheless, the whole process is turning the wheel 360 degrees from point A 12 o'clock all the way around again, the fourth stage, the most missed stage is the stage of due diligence, which is Do you understand the risk? How do you mitigate the risk? Can you deal with the downside here? Have you documented the downside? Or are you very clear about how you're dealing with that. And only then do you move forward and taking action. And when you take action, which is making sure you've done the whole thing properly, then it should click through to generate a flow of let's say, traditionally, and more often than not cash flow. And then you measure that cash flow in a wealth chart that I'm sure Chris, you'll get an insight into
Unknown Speaker 58:50
where you're recording how your recurring income is growing, but like a thermometer, you know, when people used to raise money on blue paper and stuff, you see the thermometer rising up. And that's what you're doing. You're measuring that and recording that and many people get their kids to color it in was on the rise. And that's great. But we mustn't cheat the wheel. That's the whole concept. print some principles here, don't cheat the will. Make sure you do it properly. That way you won't mistakes, you won't backslide, you won't end up losing confidence, and getting to a place where you start off with ambition. And then you lose money and go backwards. Almost like snakes and ladders. We don't want you to do that. And people who follow and focus and don't try and do too many wheels at the same time and therefore, half turn the wheels do it properly. It will work.
Unknown Speaker 59:40
So there we have the roadmap. And we've walked through the three steps. And it's really as simple as this, Kevin that it takes 60 days to create your plan, but it takes 60 months or five years to reach financial independence and the key is to take that first
Unknown Speaker 1:00:00
That. Yeah, and we want to emphasize that it's not, it can't be quick, because it was quick, everybody would do it, there wouldn't be a magic bullet, there'd be a straight road. And a load that looks a straight road ahead is brahmans alluded to, and I was alluded to, it's never straight, you're going to take some deviations. And that's part of life, it's actually part of an enjoyable journey, that you make mistakes and you, you go off, your coach gets you back on track, but you need to discover about yourself. So it usually will take about five years. So if you've got the patience, if you've got the commitment, if you've got the courage to trust in a process, because you won't know how to do it yet. But you have to trust and if you trust and give yourself 60 months in your follow up process, you have the humility to do it not trying think you know everything from day one, we're not about that. This is not for drifters is not for DIY is either you people who think they know everything on their own. It's better done in a community, with sharing with integrity, with people who are there to help you not to hold you back. We don't get a prize. If you get to financial independence, we just get the satisfaction of knowing that you are one of the 5%. And we want 50,000 of you to make it as my personal ambition. Before I check out Chris, before I go Under the boardwalk. I want 50,000 people to be financially independent, following this plan. And I hope some people tonight will like the sound of it, and will put their trust in us.
Unknown Speaker 1:01:33
Okay, hope you enjoyed that actually really enjoyed listening back to that as well, Kevin and certainly hearing from either from Bronwyn and from Richie co as well. Yes, and always good to hear from, from people. And and of course, just check out our trustpilot reviews, you know, the key values come through time and time and time again, there. But look, we're accessible, as I said at the beginning, and we want to be personally accessible. So tune in to that q&a session, ask any questions you've got get your partner to ask any questions, just, you know, will tell the water No, we're not trying to wean out of this comeback of five year plan, right? So we're not trying to rush people into a five minute decision. So just get your questions asked and answered. And if it's good for you Come and join us. If not, just join on the outside, then just consume our free stuff and wait for the next one to come along. But 500 quid off. That's not a bad one. And a good reason to tune in, especially now as we reach you know, we're just turning the corner of the year, we're coming out of lockdown, lots of opportunities will abound. So hopefully, Chris, you know, we'll, we'll get a good attendance there. And we'll be delighted to answer any questions people have about what web builders do what we stand for, and how we can help. Definitely, yeah, so do you know, bring bring your partner along, make sure you join us next week on Wednesday, the 30th of June at 7:30pm. We're just having a really informal zoom call. And just come and join us ask questions and listen and learn and see if it's right for you. And Kevin, you know, partners join free in the academy. So there's no extra cost for partners. We really want to build a family wealth business. This is a plan a legacy for the long term, as you say so, you know, it's important that everyone comes together. You couldn't agree with you more? All right, great. So thanks for listening today. As always, Kevin, we'll catch up Same time, same place next week. Until 30th of June, my friend so yeah.
Unknown Speaker 1:03:31
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 slash membership right now for free access. That's wealth builders.co.uk slash membershi