Speaker 1 0:01
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.
Christian Rodwell 0:19
Welcome to Episode 213 of wealth talk. My name is Christian Rodwell, the membership director for wealth builders joined today by our founder, Mr. Kevin Whalen. Hello, Kevin. I, Chris,
Speaker 3 0:29
good to be with you. Again, Paul, we did a lot of work, didn't we?
Christian Rodwell 0:33
What a whirlwind 24 hours. In fact, it's been longer than that. But we've just come off the back of our founder launch webinar. Boy, we had a good time there. So thank you so much to everyone who registered everyone who joined us and everyone who has signed up already as a founder member, we are absolutely thrilled to have you with us.
Speaker 3 0:51
And you know, founders is a very special place. We thought long and hard about creating founder status. I mean, it sounds like it's got some gravitas doesn't it founder, at founder like that. And the whole idea behind that is the is really getting behind the movement. We think financial literacy for our children or teenagers and young adults is critical. And it's never too early. And it's never too late. The earlier the better, of course, but we want to get as many people to back to movement, because they realise and it was interesting on the poll to see how many of those real challenges that their young ones will face that people are concerned about. So we know there's a huge demand to get this right. So the founders will have a unique pricing, a unique ability to help shape it a unique ability to be able to be the case studies of the future and the inspiration for future families. I mean, I'm excited to be working with them, I really am.
Christian Rodwell 1:52
So the doors are open. Well, first for families is live. And you can join us as Kevin says that as a founder, family member, but we're doing a very special founder launch. And it's available for the next seven days. So until Monday, the ninth of October at midnight, you can join as a founder member for a massively discounted price of just 25 pounds per month. That's all in and that price is locked in. So if you join us before midnight on the ninth, that's how much you'll pay as long as you remain a member. And we're going to talk today, Kevin, about what's included. And we've had loads of questions coming in over the last 24 hours or 12 hours, I should say overnight. So we're going to answer some of those questions today and help people understand a bit more as to whether it's the right fit for them.
Speaker 3 2:36
And just before we do that, though, I just want to say about the pricing, we priced this to be a no brainer. We price this for people to say, yes, I want to get involved. So it's going to reach enlightened parents, it's going to reach those who see they want to make a difference is not just interested and casual. It's about being serious about helping young people. And that's why I think they'll be they'll be great members to work with. And you can do the maths, you know, when you see and you're probably share a little bit, Chris today. How much support there is, in terms of education in terms of masterminds, the people we've curated, brought their content, not just our content into the equation, to make differences, to make shortcuts for people who've got busy parenting lives, to be able to then make a difference. And I think you can tell from that, then we didn't do this. For the money. We did this for the mission. We did this to get as many people at the beginning in the first 90 days for people to say yes. And they're willing to help us because it's not finished, can't be finished. You can't write a programme that has content that's age appropriate from five to 25 years of age. You can't do it on your own. So we're going to need not to have people to write content. But the ideas will come from people, what are you missing? What have you got in your family that uniquely we could create or CO create or curate, to bring to your advantage. And I think that's where the founders will have the biggest influence not just on their family, but other people's families. And that's why I'm very, very excited about it, Chris, and I think it's the biggest mission we've ever backed. And we're hoping well, I don't know the difference between a mission and a movement, Chris, but I want it to be a movement that people back and people talk about and we get in the end 1000s and 1000s of families helping hundreds of 1000s of younger people to be financially responsible, financially set for life. And thus we will
Christian Rodwell 4:53
Yeah, if this message is resonating with you, stay with us because we're going to be sharing more in today's episode and it takes me back actually to when we launched wealth builders membership, so the early stage Academy back in 2019, because we, we also had our original founder members there, and so many of them are still with us today, Kevin. And so, you know, it's really important, we're doing this discounted price, because in return, we want that feedback we want people to share, and we want them to help us build this message. And
Speaker 3 5:22
absolutely, absolutely. And we know that if we get that we'll we'll get all the testimonials, case studies. And I'm putting that hard work together. And I'm looking forward to that and, and just want to thank the founder members originally Anyway, did I in 2019, crud, I don't think I didn't it wasn't that long ago. But it seems like ages ago, doesn't it when we, when we launched the academy and thrilled that it continues to do good work. But I think we're right to switch from building wealth to building family wealth. Because in the end, when you think about it, and especially for people like me, though, granddad's and the older people is they want to make sure that as they almost start thinking about their desire to pass on not just a legacy of money, but a legacy of wisdom and legacy of values. We want that to happen. So that the money lasts generations. You know, I said earlier on set for life, not set for a good time. And the whole idea is to make this money last in your family's name, in the Whelan family name in the Smith family name in whatever family name, to last for generations. And that's what we hope we'll be able to achieve by bringing stewardship, participation, wisdom into the mix. And that's why I think it's a movement or a programme. It's not something you can read. It's not something you can just watch. You've got to participate in it, which means maybe, and I think we've had a question, Chris, what does that mean? How much time do I need to give off a busy parent? after all? You know, I can't I can't be giving much time here.
Christian Rodwell 7:04
Well, that's it. Well, before we get into the questions that we've been receiving, overnight, let me just point people, anyone listening. Now, if you want to join up and get access straightaway, head to wealth builders.co.uk forward slash families, as soon as you register, you'll get access to our resource area, you'll get access to our community, and we're creating a new community, especially for our founder family members. And we're going to be in there everyday. Kevin, we're going to be answering questions alongside of course, all of the parents, which should be sharing their insights with one another.
Speaker 3 7:37
Don't forget, don't just leave it to the uncles as carers, there's it? That's a question right. So who is it aimed at? is saying that people who care about the financial success of their the of younger people they know, obviously, parents, 90 million in the UK, as the biggest cohort, but grandparents to aunts and uncles, people who just have a view that they want to help society. So all of those people are touched by what we're trying to do here. So it's not just the parents, albeit we think parents will be the most prolific because they possibly think back, Chris, what did they get taught? What lessons were they taught by their parents, by school by the workplace, probably not a lot. I know certainly my case, lots of people know my story by now. The lessons were negative lessons, weren't they, they were lessons that sent the family backwards. They didn't make the family wealthier, they made the family pourer. That was my mission in life was to not have that happen for my family. Now that's done. And my mission is to help other families as well. So that's the key point. It's about family wealth.
Christian Rodwell 8:48
So just quickly summarise, we're getting age appropriate content, you've mentioned that Kevin, so constantly evolving, curated hub of the very best tools and websites and games and professional contacts, you're getting the online community there where you can build new connections and share ideas, find out what others are doing to make an impact. And then every week, we're going to be doing live zoom sessions, and I'll come on to some of those topics in a moment as to what we'll be covering. So let's get into some of these questions, Kevin, and answer them. How many members can access per membership per sign up?
Speaker 3 9:20
I think doesn't mean what's the limit to the number of members we want, but more? If you sign up, how many people can access the resources?
Christian Rodwell 9:29
Yes, that's what I'm that's what I think just
Speaker 3 9:31
as many as you want. I mean, fair usage. Really. I think it's designed for families. So keeping it in your own family would be the sensible thing to do. It's a bit like a Netflix question, Chris. Isn't it really and it was going on and then Netflix corrected that and is that the same with Disney plus and other things? Well, it's not a TV programme. It's not a subscription that we're worried about. I mentioned earlier on, it's a movement. So if you wanted to divide the cost, you know, 25 quid between in families, your own family, I think then I'm happy with that. Because as I said, this is about the number of people participating, not the amount of money that people are paying.
Christian Rodwell 10:11
Yeah, that's right Family Access. And as long as it's direct family, then we're happy with that. But we will monitor just to make sure that isn't being exploited.
Speaker 3 10:20
Yeah. I think we've got good people with integrity. I mean, it's one of the values we ask them to sign up to, isn't it living your life based on 100%? Integrity? So do you have integrity? Stay reasonable with it, if you've got another family suggest they join them in is priced low enough for any family to be able to enjoy that? And I think that's enough said about that one.
Christian Rodwell 10:41
Okay, next question. How long is the founder member discount available until well, we've answered that one. So midnight on Monday, the ninth of October, you can lock in that discount price of 25 pounds per month, including that. So if you lock in as a founder family member at 25 pounds a month, that price is guaranteed, we won't be increasing that. As I said, with our original founders back in 2019, they will testify to that they are still paying their founder price even today, hence why we have so many still with us. All right, then time. So we've had a few people asking this one, Kevin, how much time do I need to dedicate towards this?
Speaker 3 11:19
Well, look, parenting is a full time role. We know that. So we're not trying to say you need to stop doing what you're doing with your younger ones. Whatever age they are, we know that's a challenge. So we're not looking to add to that. It's not a court, it's not a TV programme. It's not a book and then you falling asleep. It's really about diving in a little bit just to have a be curious. But I think maybe half an hour a week is probably enough to get some value from it. Some obviously, we'll do more than that an hour a week, but not as much as we need in the wealth building side of work, which we normally say you need at least a day a month. We're not suggesting you need that. So I'd say half an hour, or the equivalent of EastEnders Coronation Street or TV programme you probably watch, but you'd be doing some great good, but remember, it's not watching, it's getting involved. And there's so many different ways they can do that. Because it's aimed at the parents. It's not aimed at the children.
Christian Rodwell 12:17
And that was the next question. You had me Kevin, is this programme aimed at children or parents,
Speaker 3 12:24
but it's not aimed at children. So the work we have to do is to secure the oxygen mask of our parents that use parents is the vernacular for or the equivalent word for parents, grandparents, aunts, uncles, carers, right. So we don't repeat ourselves. So let's use that word parents for now. So we want the parents to secure their own oxygen mask before helping the next generation. And therefore it isn't about getting children of any age, to sit in front of anything. Okay, now that might evolve. At some point, we might find, wow, that game really works. Let's involve all families to play. We've been looking at cash flow, we've been looking at Monopoly, the giant sized monopoly as well as regular sized monopoly, lots of different ways. We think this might be more engaging with more people. But for now, it's you doing it in your family, with getting inspiration, guidance, and things that you can see you're not on your own, really, I think the whole value of this. And we discovered this on the wealth journey. First, that wealth is best enjoyed. It's faster, it's safer. And it's more enjoyable. If you do so as part of a community, that generally speaking, the community of wealth builders, people building their own wealth. This is about helping the next generation as well as securing your own fine. I don't believe that anything is more powerful than a community of people with a shared vision. And if we can get enough in inverted commas, parents to back the vision and participate, to help, I think we'll create a massive community and a massive movement, which will get noticed, will get recognised and therefore we can hopefully translate this into other languages as well as the best practice of other people get shared with you, rather than you having to discover things on your own. I mean, you don't get parenting lessons Anyway, did. Really you, you watch how you grew up. And you know, maybe you get a little bit of stuff from books, but you don't really get parenting lessons. And I would say the loads probably not a question we've had raised. We're not claiming to have parenting skills. We're not claiming to say whatever you learn, whatever you do, whatever you manage here, it's going to make you a better parent. So about that. It's about helping you do the best job of being a money role model. And not any other kind of role model. We don't have any skin holes in those other things, you'll know we will bring other people into that, particularly around tricky subjects like dyslexia, autism, anxiety, a number of things that we think parenting skills and financial parenting will go together. But that won't be us delivering that, as I said earlier on, when we saw the size of the problem, and we saw the age range, which we wanted to deliver that solution to the problem, we knew we didn't know enough to invent or create the content, we had to bring in other people. So what's new in my life, is I'm finding more new people, more relationships, more opportunities, more ideas, that's another ROI for you, Chris, that I'm looking to bring to serve our inverted commas parenting community, to help them do the best job. And you'll find something that resonates with you. And some things you won't but in half an hour a week, you should be able to find something that makes a difference to how you want to raise your own family at
Christian Rodwell 16:05
whatever age now, yeah, we've got some amazing people on board already. There'll be delivering some of the events, the online zoom meetings over the coming weeks, award winning teachers author's TEDx speakers, so, you know, definitely don't miss out on that. But let's pause for a second. Kevin. We've had some reviews over the last few weeks. So I'd like to read one out. We both met this wonderful man a couple of weeks ago. It's from Terry, who says what a great night and he's referring to cashflow 101, which we played in London a couple of weeks ago in mid September. So firstly, Christian and Kevin, having heard you on so many brilliant podcasts, it was great to finally meet you. You're both so approachable and genuine. But then I did not expect anything less. The night was brilliant, fun and educational. My table got on so well. We set up a WhatsApp group to stay in touch and motivate each other. I was so inspired the next morning, I entered my Cashflow Statement onto an Excel spreadsheet to get clarity on my own journey towards financial security. Thanks for a great night, I'll be bringing my kids along to the next one that I can attend. Keep on doing what you're doing, please, because you're the best at it. And that's from Terry,
Speaker 3 17:14
a that's a nice thing. Do you know, I was talking to somebody else who was on the cashflow game and said they had a realisation. It's just a fun thing. And they said, would we have been better to have sat down before the game started? And worked out? How we were going to help each other? Get out of the rat race? Instead of borrowing money at 10% from the bank? Could we help each other? You know, some very, very insightful things. And that was Tracy, who came up with that and I thought spot on, you know, and she said if she was playing again, she'd be sitting people down saying, right. It's our job to get everybody out of the rat race, everybody financial independence, not just the luck of the dice and the luck of the draw. And she was bought on?
Christian Rodwell 18:04
Absolutely. Yeah, indeed. Well, pillar seven joint ventures. We talk about that through our seven pillars. But yes, let's not deviate. And we'll be doing another cashflow game in London in November. So head to the wealth builders website, click the Events tab. And you'll be able to register there and we will be taking cash flow around the country as well in the coming months. So Kevin on the webinar, yesterday, we talked about the foundation of which everything that we'll be covering in the wealth builds for families. Membership sits around the seven wall family principles. And we covered these on episode where were we 210, which was a couple of weeks back. So I'll link to that in today's show notes. But I think for anyone who's listening who hasn't heard those seven family wealth principles, would you mind just quickly running through those?
Speaker 3 18:53
Just before I do that Chris I just thinking about it made me realise the huge size of the challenge. So I had to think of a framework. So in the same way as when we help people build financial security and financial independence. In our wealth builder Academy programme. We needed a framework and we created the framework and created two frameworks, The Seven Pillars of Wealth, the seven and only seven ways you can use to build wealth, and the roadmap. And I was thinking well, what, what universal principles can we teach, that will frame everything that we need to share? Whether we're talking about a child who's 510 1520 25, and anything in between? That took me a while. But I managed to condense it into seven core principles. And the first one which which struck me just like a massive boom straight in front of me was the challenges and the problems. So the first principle is the problem. says that the younger generation will face which are unprecedented. In other words, they've never been faced this way before. And there are so many of them. I've mentioned before the context of life expectancy going up, children born today living to 100 years of age, and with little or no knowledge trying to fuel a life, they'll they'll be working until their late 70s, there'll be no other way to do it. So well, the way you help them fuel their life is help the parents fuel their lives and leave something behind, you know, that can help with that. And we looked at other challenges like not just financial ones, but relationship ones and mental ones. So we're seeing so many younger people, almost comparing themselves in a world, which is instant gratification, we're seeing scamming, that's never happened before. Because social media makes people feel it's true, we've seen student debt go up, we see the cost of student education going up and the level of debt now hitting an average around 50,000 pounds. That's a big weight to carry when you went to the workplace later. And now we're seeing mortgages of 3540 years is commonplace. Almost a forever home that you move to in your 60s Like, I'm moved to my forever home now. But you're still paying for that from when you took it out that mortgage out when you were 30, or even later than that, because people are getting married later. So all of these things are compounding. And the only way we can solve that is for whole families to work together. You can't solve that by saying well, which the schools would teach it. Because they can't solve that problem. It's you as the carer who's got the longest period of time of influence. And even if you're starting that influence, and your younger ones are in their 20s, whoa, if you could start when they were five, you definitely solve the problem for them. But you just got to deal with what you've got. So I think the issue is understanding the problems articulating the problems, and then finding solutions to the problems. And that's, that's the first one. And that's just scratching the surface, Chris of the very first principle, which is, what are the problems that younger people are going to face, you want me to tell you more?
Christian Rodwell 22:23
Perhaps if we share what the seminar and for anyone who wants to find out more, probably check out the recording from the webinar if they weren't on your
Speaker 3 22:30
Okay, so from problems we move to or what's the solution. And the first solution is participation, that's participation, getting the younger people to be involved in things, but also for the first time maybe, to get our parents to participate in the sharing. So that's the second one. The third is a universal principle, which I think just needs to be reminded, which is we call planting seeds or if your God planted seeds, either way, the idea that delayed gratification, that things take time to grow. And that's certainly true with our younger people, isn't it we invest that time with them, and how you can bring that lesson in life to be appropriate for a five year old or a 25 year old. And that's a very powerful one. And we got some brilliant people sharing things that they're doing to bring that to life for our younger generation, the youngest ones. The fourth one is purpose. So just as we do wealth dynamics for our Academy members to help them stay in flow. So what they do is what gives them juice what gives them energy. We know that creativity is largely being educated out of our younger ones, and oftentimes, they're not following their true purpose. We see passionate children, don't we choosing a direction which isn't necessarily encouraged. And one of those certainly is entrepreneurialism, which I'll touch on in one of the other principles and which is the next one which is pay and profit all too often. They are lockstep principle of going to school, going to work and retiring is all gone now that with multiple transitions that our children are facing, the need to understand where value is created and understand the difference between being paid time for money and being paid for value you create. So entrepreneurialism, the art of creating more, the art of creating more value really, is part of what we want to share and showcase entrepreneurial parents entrepreneurial children mompreneurs, Kid printers, entrepreneurs intrapreneurs, all of the printers you can think of and we want to show people that's a genuine pathway to build lasting wealth for the future. And we know that inside wealth builders because of the business is one of the primary pillars we use. Notwithstanding that we know that many people will turn to financial products Premium Bonds, ISIS, there's tax treatment, and all those things change over time. So we'll constantly keep a vigil on what's best, and share that with you for whatever age your younger people are. And then finally, and this is my big one is my big passion is the principle of passing on, which is the stewardship principle of getting it kind of rounded all off, it brings all of those things together and says, we are building wealth as a family to perpetuate that wealth to the next generation. And how do we do that is the principle of stewardship, it's sharing how to, and then the wisdom, the knowledge, the confidence to be able to almost take on the baton, that use the parent of today, the pioneer of today have started, and you give it to them knowing they got it. I mean, the last thing you want, as a parent uncertain of it, is to have children just dissipate money that you've worked hard for in your life, because they never learned enough lessons, they didn't build enough wisdom, they didn't build enough anything other than thing, there's this concern isn't there that children can be, especially with successful parents can feel entitled, don't really want that feeling, because the money will dissipate very quickly. And I've talked about that many times before. So there they the whole thing, problems, participation, planting, seeds, purpose, pain, profit, the products that we can use, and then finally passing on. So I kind of tested that with you and with others in the team and said, right, give me a subject, give me a subject. And did it all fit into those principles? And I think it pretty much did, but the founders will tell us that right? Because they'll give us another idea. And we go, oh, no, we need another one. Or that fits into principle three, you know, which is the planting seeds one. So we'll definitely start rolling this out and seeing and testing it against real life experiences. But I think I got it about right, I think,
Christian Rodwell 27:00
yeah, no, thanks for sharing those. Again, Kevin. And hopefully this is resonating with you. And this is your opportunity to join us and shape a programme that will help 1000s of families, we should probably start to wrap things up. Kevin, however, there's a couple more questions just to for us to answer. Is there a minimum term? So if I sign up, is it a 12 month programme? Well, the answer to that is no. There's no contract. It's month by month.
Speaker 3 27:28
Yeah, if it's not serving you, it's not serving your family council, no harm done. We hope it serves that's in truth that will tell us won't it? If people are getting value, then they'll continue to be a member. And we're looking very much looking forward to that. I mean, it keeps us on our toes, we're gonna have to be really realise we've just built all this and then the foundations themselves crumble, but they won't, because the principles are too strong.
Christian Rodwell 27:52
Absolutely. And then I think the final question is the interaction. So we've talked about how important that community aspect how important sharing will be in what we're doing here. And so there are two main ways how you can connect with other members, and one of them is online, and one is offline. Really, Kevin, so online, we've got our private community. So that's a Facebook group where you can connect and interact with others. And every week, we'll be doing live zoom sessions, which is an opportunity for you to ask questions, and obviously hear from experts and talk to ourselves as well as long as well as other members. So that's the online aspect. And then offline, we're doing events, and we're travelling around the country. And our next live event, which will be our first families face to face event is in Manchester. And that's coming up very soon, on Wednesday, the 18th of October. So join us there, that's going to be a great event. As a family is found a member you can meet other members that have joined at the same time as well. And looking forward
Speaker 3 28:49
to other cities, we will get to all the big cities, we're already planning something for the Northeast in January, I believe if that all comes off, we're definitely looking to see where where the memberships kind of rest geographically to then serve them by getting, getting people together. We think this is definitely a movement of people that will grow better by them getting together and I'm so glad that we delayed this, you know, when we first had the idea and the unfortunately, the pandemic just wouldn't have worked. The community could not have built themselves as strongly as I think they'll build it now. So yeah, I think the timing is right question. I'm looking forward to elixir then the next 90 days to get it right. And then to see where we can take it in 2024. Hopefully, with all the snagging the sharp ends knocked off and some brilliant people who find a passion for themselves to do whatever they want to do, whether they want to be a friend of wealth builders, whether they want to be an ambassador and tell other people whether they want to speak about it on stage and we'll be definitely looking for that or even those who just want to help out at different events. So There's so many ways to participate, including for those who really want to get involved can even create some kind of an affiliate income from it too, so won't come in the first 90 days but it will certainly come sometime in 24.
Christian Rodwell 30:13
So the doors are open. You can join us right now wealth builders for families head to wealth builders.co.uk forward slash families. Thank you for listening today. Kevin will catch up Same time, same place next week.
Unknown Speaker 30:24
I look forward to that question until then, my friend so yeah.
Speaker 1 30:30
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 wealth builders.co.uk/membership
Families membership is LIVE! In the latest WealthTalk episode, we take a sneak peek into the WealthBuilders for Families membership to explore what makes this such a unique and invaluable membership for parents, grandparents and relatives looking to ensure their children, teenagers and young adults, are equipped with the knowledge and confidence to deal with the financial challenges and opportunities ahead.
Discover how the Families membership provides you with access to a wealth of resources, expert guidance, and a supportive community.
The WealthBuilders for Families Founder Members offer is available until midnight Monday 9th October. By signing up, you lock in a unique discount and bonus content for the lifetime of your membership!
Resources mentioned in this episode
Next Steps On Your Wealth Building Journey:
If you have been enjoying listening to WealthTalk - Please Leave Us A Review!