In today's episode we discuss the first 6 modules that are in the WealthBuilders Foundation Programme. Make sure to tune in to find out more about what the modules are and how you can, eventually, stop trading your time for money.
Christian & Kevin announce the launch of the WealthBuilders Foundation Programme and talk through what’s covered in the first 6 modules. This new programme is for anybody currently not yet at a place of Financial Security, which means you still trade your time for money and don’t yet have enough recurring income from assets to cover your monthly expenses.
Links and a full transcription of this episode can be found at www.wealthbuilders.co.uk/wealthtalk
Join the WealthBuilders Facebook Group: www.wealthbuilders.co.uk/facebook
Join the WealthBuilders Membership Site for Free and get access to free Wealth-building Resources:
www.wealthbuilders.co.uk/membership
Chris Rodwell: Hello. Welcome to episode 12 of WealthTalk. My name's Christian Rodwell, the membership director for WealthBuilders, and I am joined today by guess who? It's Mr. Kevin Whelan, founder of WealthBuilders. Hello, Kevin.
Kevin Whelan: Hello, Chris.
Chris Rodwell: Good to be back with you once again.
Kevin Whelan: Yeah, yeah.
Chris Rodwell: We are enjoying these podcasts, aren't we?
Kevin Whelan: I think we are, yeah.
Chris Rodwell: I hope other people are too, as well.
Kevin Whelan: Well, somebody said to me they're enjoying the little faux pas and the little jokes that we have between us which is really important because, you know, this is supposed to be an enjoyable journey. Talking about the journey, we've been on an incredible one so far.
Chris Rodwell: We have.
Kevin Whelan: I think it's probably time to maybe, you know, check in with people to see where they are, remind them of a few things. I think, more than anything else, we want to avoid the drift. We want to avoid people being drifters. Now, you remember-
Chris Rodwell: Episode two.
Kevin Whelan: Episode two when I described the drifters and the DIYers and the dynamics, and we want everybody to be dynamic, and dynamic means taking action, Chris, so we don't want to be a sponge and just soak up this information and be entertained. We want to have fun with it. We want people to take action because in the end, Chris, my reputation hangs on the name of the company. It's WealthBuilders, and the wealth that's being built is the wealth of our members, so we need to focus on that.
Kevin Whelan: We need to maybe take a serious look at wrapping up some of the lessons we've learned so far and getting people to a place now where it's time to start taking action if they've just been thinking about taking action. Unlike the sponge which just soaks it up, it's time to really drill down and do some things, so why don't we focus on one or two of those things?
Chris Rodwell: Yeah, absolutely, and it ties in nicely with being episode 12, because we've got an announcement, haven't we, in that we have created 12 modules really to help someone who is struggling, shall we say, between insecurity and security.
Kevin Whelan: Yeah.
Chris Rodwell: So really needing that catalyst, if they haven't already identified it, to propel them towards action, to actually do the exercises we've talked about over the last few weeks. Things such as debits and last week we talked about first. And actually providing the support along the way.
Kevin Whelan: Yeah, because I think, you know, the reason why 95% of the population really don't make it when it comes to wealth isn't there's a lack of information. I mean, we're providing all the right information here in terms of principles and values and things that people do, or could do, rather. What we see is people just get caught up and let's be honest, the vast majority of people who don't make it to security, or less even so than independence, tend to be caught in the trap of trading time for money.
Kevin Whelan: That trap of trading time for money invariably means one major area that gets missed, which is the dedication of time to take action. We talked last week about the first model of leverage and trying to create or box time so you creating specific time in your week or in your month, and always, always, always doing something in the month that allows you to take action.
Kevin Whelan: That's why we thought to create it in 12 modules so that worst case, worst case, worst case, if people follow my guidance and say never let a month go by without doing something for your wealth, do this.
Chris Rodwell: Yeah.
Kevin Whelan: And if we create 12 modules then people are no more than a year away from that transformation. Now, some people, the dynamics, will do this in 12 weeks, Chris. There's no doubt about that, and we can also see, can't we, from the WealthBuilder membership forum how fast some people are on it. They're getting into their debits, they're saving money, they're reapplying the money, they're doing it, doing it, and it's absolutely brilliant, but the vast majority of people still are maybe thinking about it, liking it, but not just getting round to the doing.
Chris Rodwell: Well, that's right.
Kevin Whelan: It's really important that we give them a framework to do, but I don't think we've got time in this episode to cover all 12 modules, but we could give a sneak preview, right?
Chris Rodwell: Yeah, I'd love to go through at least the first six, and what we're going through here is the WealthBuilders Foundation Program. So 12 modules, a 12-month membership, and really the point, as we've said, is having the ideas and the education is great, but what are you going to do about it?
Chris Rodwell: So, by bringing everything together, with the community aspect as well, so the support and accountability, which is really important along the way, and to see others who are doing it and getting great results can just be really motivating and switched on by that as well.
Kevin Whelan: Yeah, and I like the idea that up until now, of course, Chris, it's been you and I sharing ideas and theory, but future episodes will definitely be looking at diving deeper into some of the wealth pillars in more detail and get some of our members to give their own case studies so that it brings the education that we're giving to life.
Kevin Whelan: Now on the subject of education, we know wealth always begins there, but it doesn't end there. It ends there with action, so I think we do want to provide those people who perhaps want to take their time, perhaps want to, maybe even some people who haven't tuned in before, Chris, just getting to hear us for the first time. I don't mind if we create the education material to maybe hope that, for some people, it's the education, the principles we give themselves are a catalyst.
Kevin Whelan: When you're getting to know your reason why, sometimes there isn't a strong enough call to action. Now, you know mine is incredibly powerful and it always powered me through. Never, ever deviated from the plan but, of course, that's not true for everyone, and we don't want family tragedies to be the reason that calls people into action.
Kevin Whelan: But we hope that maybe the education we provide can be that call to action, so we will publish the information in a way that people can consume in their own time without necessarily connecting, without necessarily looking for support and, like everything we do in education, we'll give a guaranteed money back, so if people don't like what they're reading, they can have their money back. It's that simple.
Kevin Whelan: But I don't think it's how wealth is truly built, Chris. I think we have to be honest and say that people get much better results, faster results, more enjoyable results, if they get some guidance, if they get some support, if they get some accountability. In a busy life sometimes we need that. It'd be like people who go training for a marathon. It's always good to have a running buddy, I guess, a running man.
Chris Rodwell: I've done that.
Kevin Whelan: You've done that? It's always good to have somebody who can help you get up in the morning when the rain's pouring and you don't feel like it, so having some kind of wealth buddy, which is really our coaches or mentors, really, to help people stay accountable.
Kevin Whelan: Let's focus on some of that. Yes, we'll write the education down, but I think the core thing we want to share with people is the importance of getting some guidance. It gets it done quicker, really.
Chris Rodwell: So let's share a little bit about what the Foundation Program is all about. As we've said, it's really aimed at anyone who is not yet at a level of financial security. Would you mind just reviewing as to what does it mean to be at a level of financial security? How do you know if you are or aren't, at that point?
Kevin Whelan: Okay. Well, it's really quite easy because if you're trading time for money and you stop working, the money stops. So the clue in knowing whether you're at financial security is whether you'd have a flow of money coming in from things you've accumulated, things you set up, assets in other words, that are in place and working to generate you flows of cash.
Kevin Whelan: If you have enough assets that would automatically generate cash that would be the equivalent of your bills, your normal life, nothing too exorbitant, nothing too fancy at all, just a decent life. If you can live your life and you're okay, everything's paid for, pretty much. That's financial security.
Kevin Whelan: It's not accounting for fantastic holidays and retreats and all sorts of other things that you'd get with independence. That's life with no compromises. In security, you'd compromise a little, but that's okay because the purpose of getting to security is to give you a platform on which to grow towards independence, and for those who are trading time for money, security basically means you could sack your boss. You could change your direction. You could change your relationship with your time, and not be in a full time job, say, committed to a lot of commuting, you could still have a job but work in a different environment, maybe closer to home.
Kevin Whelan: Whatever it would be, like you'd just move somewhere within walking distance if it were, if you're currently doing your work and you need work, right, so I mean what better opportunities than that? How much time do you spend on commuting, Chris, you know, none.
Chris Rodwell: That's right. So the Foundation Program is really teaching you how to create recurring income from assets.
Kevin Whelan: That's right. What we're trying to do is, say, let's aim to try and help you get to that place of financial security and, remember, you have to come up with your own number, Chris. Everybody's number is different because we've all got different bills. Some of us have got mortgages, some have not. I obviously don't. Some have got different levels of expenditures that they have and want to keep.
Kevin Whelan: It's not penny pinching and I've said and I'll say again, you cannot save your way to wealth. You cannot restrict your way to wealth. You have to expand your means continually but sometimes it means you've got to at least understand what you basic means are in order to reach that level first and then, from there, that's a foundation or a springboard to go to the next level. The Foundation Program will get people there.
Chris Rodwell: We've said it's 12 modules and we've broken that down into four different sections, so section one, and they have to really be followed step-by-step.
Kevin Whelan: You have to go in the order because if you don't go in order, you're turning a wheel out of balance. So each step has been written and chosen and crafted deliberately to make it a logical and easy-to-follow series of steps. Almost like your Sat Nav., so it's a GPS to get to financial security. If there's a tried and tested way to do it, it's a good reason to follow it unless you're a maverick and you want to do things entirely on your own, but then they probably wouldn't fit with our values anyway.
Chris Rodwell: So section one, we've called it Self Wealth.
Kevin Whelan: Yeah.
Chris Rodwell: So this is really the foundation of the wealth mindset, and we've talked in previous episodes, wealth dynamics, episode six, but module one begins with your reason why.
Kevin Whelan: Right. Yeah.
Chris Rodwell: It's having that strong catalyst, so really making sure that you know the reason why you're going to get up early to do this extra work to really push yourself, so that's module one. And then we've said module two is the five levels of wealth so knowing where you are now and where you want to get to.
Kevin Whelan: It's important, that calibration, just to spend, even if it's, we're not asking people to draw up a budget and say how much they're spending on this and that, but a feeling. If you've got a feeling your expenses are $3,000 a month, or whatever they are, $4,000, $10,000, it doesn't really matter what the figure is, but you've got a feeling for what that is, and then that's the feeling that you commit to as your security figure. And it's always good to have the independence figure because the independence is something that you should be aspiring to, not shying away from. You know it's coming, it's just more turns of the wheel.
Kevin Whelan: Once you get past foundation, then we'll take it onto a much higher level and get much deeper into how to accelerate each different wheel that they turn, each different asset that they choose to invest in, and remember each asset is multi-faceted. There are many, many, many different ways of achieving it, so we have to, I think, talk with people to help them understand which is the best way for them. So knowing where you are, knowing where you're going, is definitely a core component of the self wealth.
Chris Rodwell: Yeah, and that's module two. And then module three in section one is understanding your value, so we use wealth dynamics, and we'll provide a token for everyone in the program to do that. So just to recap on why it's so important to understand your value and how we excel in certain areas and other areas where we're not so strong, we really shouldn't be focusing our time there.
Kevin Whelan: In truth, wealth flows to value, so if that's true, wealth always flows to value, then you ought to know where is the best way that you deliver value. Whether that's in a team if you're currently in a job, or currently in a business, where's your best way to deliver value and the wealth dynamic gives you, I think as you framed it, Chis, the compass point.
Kevin Whelan: It helps you choose, not just where you're going, not just where you should focus and never be mediocre or weaknesses, be outstanding and strengths, and to team up with other people to complement you where you've got challenges and weaknesses, let's say. That's how we work, you know, so it's easier, then, to grow if you've got all parts of the compass covered, and that's really the essence of that part of the program.
Chris Rodwell: Fantastic. Okay. So that's section one covered off. Then section two is your wealth foundation, so we said before, you can't save your way to wealth, but we can at least start to plug some of those leaks.
Kevin Whelan: Yeah. You have to plug leaks, you know, because if you don't plug leaks, whichever analogy you care to use, if it's a boat, it's going to sink, if it's a building, it's going to fall down because ultimately you're undermining the foundations. It's just good practice.
Kevin Whelan: The wealth foundation actually creates, albeit it's an integral part of this program, in truth it's something that should be revisited by our members at any time, at least once a year, to get into the real process of taking a fresh look at the things that are going out in their life and what they can save money on.
Kevin Whelan: We give them a whole raft of different ideas in the debits but of course, with the program, we'll be introducing very specific ideas, case studies from our clients who are saving money to give people just an extra direction because sometimes you don't always see everything if you're doing it on your own.
Chris Rodwell: And you won't just be able to progress all the way through the course without actually ticking off that you've done each module, and then we'll say, okay, great. It's the next one.
Kevin Whelan: Move on to the next one, yeah, so we're all doing our homework like good students. But in truth, we are students of wealth. It isn't this thing you can master in twelve modules. I think it will help people get to security, but security is not being wealthy yet, so that principle of doing things in the right order like we talked about the wheel.
Kevin Whelan: The wheel was designed purposefully to be turned in the one direction, and it's turned in an order of sequence that works. As soon as you try and get out of whack with that, you know, problems occur. We see that all the time, particularly with the due diligence stage and things like that. We know this to be true, so I think I'm going to ask our members to trust us that we're not trying to be smart about this.
Kevin Whelan: We're just trying to work on principles, and rather than opinions, which we won't dispense, we're trying to give just good principles for them to follow. So definitely getting into that financial foundation of self and finances is key to input.
Chris Rodwell: We've said wealth building is a scientific process and this is the process.
Kevin Whelan: This is the process.
Chris Rodwell: Step-by-step, so module four, then, is debits. It's really diving into those different areas to find out where you can create an extra few hundred pounds a month, perhaps, and then reinvest that into your wealth building activities.
Kevin Whelan: Or shore up your roof. We've seen a number of our clients say the key thing, if there was more month left at the end of their money, that they didn't actually have an emergency fund, they felt like perhaps they weren't insured if something had gone wrong and they couldn't pay their mortgage. All sorts of different things that we need to have in place, so the debits isn't just taking money and applying it to build wealth. It's also being very safe and making sure the roof is well protected, as well.
Chris Rodwell: Which segways nicely into module five, which is-
Kevin Whelan: Well, it all works then, doesn't it?
Chris Rodwell: Which is the roof and we've covered the roof. Just remind and overview, just so people are clear about the aspects of the roof.
Kevin Whelan: Yeah, it's important not to be confused because when you look at the logo, which is the foundation at the bottom, the seven pillars in the middle, and the roof, it kind of, some people could be confused by thinking you build your foundation, then you build your wealth, then you put your roof on top. You don't do it that way.
Kevin Whelan: If you imagine the foundation and the roof were a frame, like a building going up in a modular construction, the essence of it is you lay a good foundation, and you make it water tight so you can build on the inside without fear of major losses in terms of, to a builder it's water egress, isn't it, really? So from a wealth perspective, it's getting the emergency fund sorted, making sure, if you've got some things that need to be insured, you do that.
Kevin Whelan: Also looking to do some very basic things. Things that people don't get round to. They never, ever get round to making their Will. Oh, I'll get round to that, but they don't get round to it, so that's the point of the guide, isn't it, saying, right, we're now going to help you get this done. Whoever you get it done with, that's not the key. It's done. Is it done? Yes, it's done. Right, move on.
Kevin Whelan: It's very simple because you can create your Will for a few hundred pounds or even, actually, we have got a template that we can give to people that gives them some things to think about so they don't overthink it, because sometimes the people with the steel dynamic go, I can't think of that, and I can't think of that, and what happens if this, and what happens if that. Just get a basic Will because you can always change it. Those are the elements that take shape in the roof.
Chris Rodwell: In module five. Fantastic. And then module six is creating leverage, which was last week's episode. We focused on the first model.
Kevin Whelan: The essence of, if you create a podcast, you're really just talking about what's possible. The idea of leverage is you choose what's right for you, so you combine the essence of who you are in your wealth dynamic. What you do for a living now, where you are on your wealth level, what is the most appropriate method by which you can start to build, which pillar should you choose and which tactic within each pillar?
Kevin Whelan: As I said, pillars are multi-faceted so something to do with property, if you were doing, you're not going to be doing, if you've got, if you're time poor is your first thing, you're never going to be doing a commercial-to-residential conversion and building 50 apartments. That doesn't happen at level one. That might be just understanding the principles of buy-to-let or just to understand the principles of multiple occupancy property or just to understand the principles of student accommodation.
Kevin Whelan: It'd be very basic things, and as we help people understand that, of course, we've got a huge network of tried and trusted educators, and we know who to connect people with in order to help them explore that because not every time will we get it right. Sometimes people look at the asset they want to build and realize, oops, that's not for me. And that's part of turning the wheel.
Chris Rodwell: Sp why don't we get into the next couple of sections and the next six modules in our next podcast episode?
Kevin Whelan: Yeah.
Chris Rodwell: We're launching the Foundation Program on Wednesday the 1st of May, so in keeping with Wealth Builder Wednesday, it makes sense.
Kevin Whelan: Another Wealth Builder Wednesday. Yeah.
Chris Rodwell: So what we'll do next episode, we'll cover off the next six modules.
Kevin Whelan: Okay.
Chris Rodwell: And then give you all of the details if this is something that you feel you need right now. If you don't really know what to do as a next first step, then I think this will really help.
Kevin Whelan: It's designed to help people take action, and the thing that's really important, Chris, to re-allay the fears of the steely people who'll be thinking, oh, cost, cost, cost, is this. That reputationally, WealthBuilders is built on the premise of people building wealth, and that's it. Everything we do, if individuals are going to work with us, then I'll make a promise, and we'll put the promise in writing, anyway, which is whatever they spend with us, if they don't double their return, that's twice the return, that's a hell of a return, then we'll work with them until that return is achieved.
Kevin Whelan: There is absolutely no danger. We want people to take action and get wealthy. We're not looking to sell a course, we're looking to create an education that sits on the shelf, so we will do that. We'll give that double-profit guarantee to make sure that in truth, then, if they spend money with us they're going to make money, so not spending money with us is bad news because it means they won't be making any wealth.
Kevin Whelan: So I want to make it so irresistible, Chris, that this Foundation Program has got to impact the lives of many people, and I think we'll probably offer some kind of offer for people at launch because that's logical, and we want people, those who are willing to take action. So I guess we'll announce that next week.
Chris Rodwell: Yeah, and I think we'll be putting in a bit of extra time for those initial people as well, won't we?
Kevin Whelan: We've got to make it work, otherwise we'll be, reputation, we can't have that. We've got to get people up to that security level as soon as is possible, really, depending on their time commitment.
Chris Rodwell: Mm-hmm (affirmative).
Kevin Whelan: But we'll give it ours, that's for sure.
Chris Rodwell: I can't wait.
Kevin Whelan: Me either. I'm looking forward to it.
Chris Rodwell: Good stuff. That was great. Well, I look forward to our next episode where we'll cover off the next six modules, and that concludes with a full turn of the wheel. What happens when we have a full turn of the wheel?
Kevin Whelan: We get wealthy, mate. That's what happens.
Chris Rodwell: Well, that's what WealthTalk's all about. Thanks for the insights, Kevin.
Kevin Whelan: You're welcome.
Chris Rodwell: Speak soon.
Kevin Whelan: See ya.