WealthTalk - money, wealth and personal finance.

5 Reasons People Don’t Achieve Financial Independence and How To Overcome Them

Episode Summary

There are a number of reasons that can stop you from building wealth and achieving financial independence. Are any of these stopping you? Being on the phone with clients and WealthBuilders members every day, Kevin and Christian have identified some of the key issues that keep coming up over and over again. Tune in to this week’s episode to find out what’s holding people back and how to overcome these difficulties.

Episode Notes

Resources Mentioned In This Episode:

>> JOIN THE 7 STEPS TO WEALTH PROGRAMME - CLICK HERE TO LEARN MORE

>> REGISTER HERE FOR FREE RESOURCES ACCESS

>> WT042: A Little Bit On The S.I.D.E?

>> WT004: How To Uncover Hidden Money In Your Life Using D.E.B.I.T.S

>> Wealth Dynamics Test

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Episode Transcription

Unknown Speaker  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  
Why Welcome to Episode 104 of wealth talk. My name is Christian Rodwell, the membership director for wealth builders. And I'm joined today by our founder, Mr. Kevin Whelan. Hi, Kevin.

Unknown Speaker  0:29  
Hello, Chris. Good to be with you again. What are we covering in this week's episode?

Christian Rodwell  0:33  
Well, Kevin, you and I are on the phone every day with members and clients a wealth builders. And there's some common themes that we see coming up all the time. So today, we're going to focus on the five reasons why people don't achieve financial independence, and how you can overcome them. And I think these are things that hopefully will ring true for, for our listeners. And hopefully, we can provide a few insights today as to why these reasons really shouldn't be holding anybody back.

Unknown Speaker  0:57  
Wow. I mean, if you pick out the top five, I can think of at least 10. So the

Christian Rodwell  1:01  
air, there's a number.

Unknown Speaker  1:04  
Now good get the top five, isn't it? It's like, you know, well look on the the ones that are the the key ones, and one, you know, won't be too long for people to get the hang of the fact they're so interconnected. Anyway, Chris, aren't they?

Christian Rodwell  1:18  
They are they are. So why don't we dive in. And and let's start with Reason number one, which is a lack of time. So we hear this one a lot. And, in fact, you know, over the last 12 months, we've heard from some of our members, Ivor Bennett, who was our spotlight earlier this year, when he actually said that it was because of locked down that he realized he had more time. And he wanted to leverage that. So, you know, he spotted the opportunity there. But we still hear so often. I don't have enough time. And I just want to dig in really Kevin, you know, how much time do you actually need each month to build wealth?

Unknown Speaker  1:55  
Well, look, we've got a mantra, you know, well enough by now, Chris. Never let 30 days go by without doing something to build your wealth, and everybody's got something everybody's got some time I look at if somebody says to me, they haven't got the time, they just don't have a strong enough reason why. Because if you think about the big picture, for most of our students, it takes, let's say an average of five years, to be completely financially independent, five years to be free of financial worries for life, five years, two hours a week. So anybody can be completely financially independent a day, a month, two hours a week, they should be able to do that. Now, even if you don't have two hours a week, have you got an hour a week? Could you do 30 minutes a week? Could you do something while you're exercising in 30 minutes a week, I mean, everybody's got room for something if they choose it. And my argument is, if someone tells me they haven't got the time, and we could have a chat for five minutes, and I can show them where the time is. If they don't want to do it, then I leave them to be doomed. As a drifter. Working 40 years to get less than the result that it would take five years to build is nuts. It just defies the logic. However, it's not logic that's in play. There's a whole bunch of emotions and, and things that overlay with this. But let's deal with them one at a time. As long as you can find some time. There's a podcast quiz we did recently called well probably wasn't recently but it was a little bit on the side. Remember that?

Christian Rodwell  3:50  
I do indeed. Yeah. We'll link to that in today's show notes.

Unknown Speaker  3:53  
So on the side says okay, you may not be ready to fully build your wealth, you might not be in a position where you want to create a grand plan you you don't want to do anything that sounds big and overbearing and overpowering you but you could do a little something. What could a little something beyond the side? Well, you know, we talked about in that episode, you just need to do something in any spare time at all. something that interests you something that you can do. And as a result, you can then use that money to generate additional little seeds that you can plant even if you made Okay, you talk about lockdown, and Eibar very eloquently said by either. But what a people have kind of realized they're not wearing the same clothes that they used to. You know, I can't remember the last time I wore a suit and I was always in a suit. Well, maybe, you know, some of my suits will be sold to not because I need the money but because well if I'm not going to go back to work and do what I used to do before and I doubt that I'll ever We'll be wearing suits as often, then why wouldn't I declutter my life, thank my suits for serving me so well over the over previous years, and then sell them, take some of that money and invest in a tracker fund, or pay off a debt, or put it in my, some of the form of elimination, which is what the E is. So S is spare time I interest D is do something in E, if nothing else, e eliminate. So we eliminated debt, eliminate a cost, eliminate something from your life that's getting in the way of you creating your wealth. So the other thing I hear is people say, Well, I'd like to be wealthy. But you know, I don't think, yes, that's an interest in wealth. It's not a commitment. And certainly his wealth is concerned, you know, you've got to be committed to be wealthy. And if you're not committed to be wealthy, doesn't really matter what the other excuses are, Chris are the other reasons are, they are simply excuses. And we've got really no time for that other than to help people maybe to address one, then they go, Oh, hang on a minute, that was possible. Now what else is possible? So time, two hours, every week, to be completely financially independent. take you five years. So if you're 30, you'll be financially independent when you're 35. If you're 4045, why start when you're 40, and still be working in Sainsbury's stacking shelves or scanning tills in your 70s, which is, sadly what most people will do? Well, I don't mean that literally. But they will still be working. And as the sage of Omaha often says, Mr. Buffett, unless you get money working for you, you work till you die. And I don't think that's really needed. I think anybody can find a time, if they were genuinely and seriously committed to have I done that one to death.

Christian Rodwell  7:04  
I think so I just want to add to it, the it's also, you know, what you're doing in that time, so you could be spending two hours be you could just be, you know, kind of drifting through and through that two hours. So it's focusing on the right activities during that time. And I love when there's, you know, often the kind of quoted online about the power of the sun, right, it's got billions of kilowatts of energy every hour, it's like 12 million degrees of heat. But you know, it barely touches us. Whereas with a laser, you can drill a hole in the diamond, because that's the power of focus. And a laser gives off less energy yet produces very efficient results. So it's about managing your time effectively, as well. Bear enough.

Unknown Speaker  7:47  
I mean, couldn't say that better. And focus, of course, is one of the key tenets within the whole wealth builder plan anyway, and seen lots of analogies for that, you know, focus on one course until successful. And we often will say, focus your way to security, then diversify your way to wealth. So you don't need to be inundated, overwhelmed with anything, you can just do one thing. And what's often missing, Chris, is people think they don't have enough knowledge, or a plan to be able to choose what that one thing is.

Christian Rodwell  8:20  
Oh, that's number two. So let's just box off number one, which is lack of time. So how do you overcome a lack of time? Well, you can box your time. So making sure you put those two hours into your calendar every week. And then you can evaluate your where your time is being spent. So there's 168 hours in every week, we're asking you to find to that shouldn't be too difficult, hopefully, and then to leverage your time. So listening to podcasts, audiobooks, when you're exercising, commuting or cooking. Anything else to add to that, Kevin?

Unknown Speaker  8:49  
No, I think I love time leverage. I think it's the most powerful thing. And certainly technology has brought that about one one, of course, important danger of this is, you know, get get knowledge and inspiration fine. But don't be entertained by it, you know, don't don't see it as sitting in front of the telly. Or just listening to podcasts, you know, find something that inspires you to take action, and then find one strategy could be simple, like, just I'm going to eliminate my credit cards, if it's at the debt side, or I'm just going to invest 50 quid a month more in tracker funds, or I'm just going to put some money into an emergency fund. Or I'm just going to spend some time looking at some property opportunities. Or I'm going to go to a networking meeting with a view to you know, this or that which could be online or offline as we come out of the current situation. So there's so many things I could do, but it's best to if you can connect the time with an outcome that you're seeking. So it's not just drifted time, it's focused on

Christian Rodwell  9:58  
Okay, so number two Reason is lack of knowledge. So we often hear people saying, I just don't know where to start. And there is no shortage of knowledge, if this made that clear. So you can pretty much go to YouTube and learn how to do anything. So the challenge is not the lack of knowledge, it's the lack of direction.

Unknown Speaker  10:20  
Yeah, there's just too much knowledge out there. Of course, it's easy to Google anything these days, isn't it and YouTube anything and, you know, that's, you can be inundated again, and overwhelmed with the volume of information, and I often refer to is like getting a cup of water at Niagara Falls, there's just so much out there, you'd never quench your thirst, because you just simply would be pouring all over you. So the real simplicity of this is, try and find something that interests you go back to the side idea that I mentioned before, find one thing that interests you, and then get enough knowledge on that one thing. But ideally, get to know somebody who can help you with, you know, some kind of guidance, because then if you've got knowledge with a plan, then you can overcome anything that you want to do, because you put you two hours, with some directed knowledge, go find this out, go find that out, go do this, you're getting closer to your outcome on one thing, and not try and get knowledge on 150 things all in one go.

Christian Rodwell  11:22  
Absolutely. And that's feedback that we get often from our members is, obviously we've got our nine step, recurring revenue roadmap, and it's the structure that people really like, because they can see how they're making progress. And they can see that that all interconnects and builds upon rather than just being unorganized knowledge, which is, you know, kind of what you can pick up from free stuff online. And there's nothing wrong with that. But as we said, it can easily become overwhelming. And you then really turn into an analysis paralysis. And so the key is just to start as you say, pick something you're interested in. And and I guess looking at wealth dynamics as well, right. So lack of knowledge, but getting to know yourself, and you can then eliminate certain things, which you can see clearly are probably not going to fit your wealth dynamic.

Unknown Speaker  12:10  
Well, you know, not everybody will do their wealth dynamic, because they may not even have heard of it. But just even if you want to Google that do that just to get a sense of what it is. But don't get too caught up in it. Because wealth dynamics is really your Arrowhead, your compass point, it helps you to eliminate things which probably shouldn't be in your life, and focus on things that should and you know, so that can help you once you know a little bit more about that. The other thing that can help you is to understand that there are only seven assets. So once you know there are only seven assets, you could just start to work out which asset do you think is most likely to suit your personality, it's most likely to suit what you're kind of curious about and would be interested in, what's likely to suit the amount of time you're willing to give right now. And what's likely to suit the amount of resources that you may have. And we cover all this in our leverage points. But rather than getting into the details of all of those things, Chris, it's kind of easy to see that there isn't a shortage of knowledge, there's just a lack of focus, which you know, reflects back on the time issue. So learn what the seven are, and try and work out which ones are right for you. So if you've got loads of time, loads of money, you can do anything. But if you're very limited on time and very limited on money, then you and that will narrow down what you can do, and narrow down what you should be expanding your your knowledge search on and we can help you with that. Because we can narrow it down by the use of the right wealth dynamic plus plus knowledge of your leverage. And you can read at some of these things just by joining the Facebook group and pick up some of this information, you know, for free without having to engage in spending any money to acquire this knowledge, so much knowledge available for free, but tune in to a trusted place. And we're more than happy that the information we provide is free of charge, you know, so we will step into action when you need to more direct help. But for now, if it helps you just get your focus, you know, tune in to the information that we've got both in our in our books and our free Facebook group, Chris, right.

Christian Rodwell  14:30  
Absolutely. Yes. And also, if you're not already a member of our, you know, free membership, then we've curated some of our key elements of the wealth building process into our free members area. So we've got the Seven Pillars of wealth book, we've got some videos you can catch up on previous podcasts there as well. So head to wealth builders.co.uk forward slash membership, and join us there. So that's lack of knowledge, Kevin. So number three is lack of So, I guess if you don't have the money, the question is, who else does? And then how can you add some value, and potentially look to work together. And again, we bring that word leverage into play.

Unknown Speaker  15:12  
Well think about resources. So I don't think it's money. There's not a lack of money. Of course, the world is awash with money. The key is not, where's the money, the key is how do you add value. And this links back to wealth dynamics, again, once you know how you add value, and everybody adds value, because if you've got a job, you're adding value, you're just trading that value for an hourly rate. When you're building wealth, you're trying to trade that value for an ongoing recurring income stream, which is much more valuable. So imagine doing the work, and then creating an ongoing lifetime stream of value, that's the essence of owning assets. And if you could do a little bit of that, then you've got the opportunity to start even very small, just getting your first 100 pounds a month coming into your life from the ownership of assets. So you can start small, you don't need money. First of all, I'd say look at what you're already greater. Look at where people are commending you for what you do people tell you do a great job, look at where you really add value. And then when you add value, and you understand that wealth, flows to value, it's not wealth flows to money, money is just an idea. When he's just an exchange, what's it's an exchange for his value. So if you can create value for anybody, you can create money. The next thing to look at is in a process we have Chris, we could send a link, either to a podcast or some resources, we've got on on debits. as well. You know, there's a whole raft of ways that you can create money from with the within the capacity of your existing life, you know, maybe, you know, you could save some money on something, maybe you could reduce the cost of something, and that frees up a few 100 pounds. On average, when our students do that they say, nearly 1000 pounds. Is that right?

Christian Rodwell  17:14  
Yeah, yeah, that's right. Seven to 800 pounds.

Unknown Speaker  17:17  
Yeah, right. Okay, well, not quite 1000. But But certainly, if you could do one piece of work once, you know everybody's paid on an hourly rate, okay. So in simple mathematics, if you've got a day job, then your hourly rate is half your salary. So if you're on 50 grand, you're on 25 quid Now, if you're on 100 grand, you're on 50 quid an hour, if you're on 250 grand, you're on 125 pounds an hour. So you've got a sense of where your value is being created. Now, if you could spend two hours, I'd make 1000 pounds back. Well, that's pretty high hourly rate, you know, that's 500 quid an hour, which, if that was the equivalent, that'll be a million pounds with the salary. But it isn't just that you save that money, it's, then you get a chance to plant a seed. So you take 1000 pounds, and I'm using this figuratively, you could use that money to then do something else that starts to create assets in your life or eliminate liabilities, both of which are very good things to be thinking about doing. So there's no shortage of opportunity to do that. But the other thing that's often overlooked, and undervalued is the money that already exists in the capacity of our life. So we do this, definitely, in our leverage side of things, you know, the leverage of what's in your home? Is there a way to create value there, create value of things around you. We talked about selling stuff earlier on. People will overlook the value of their pensions all the time question is probably the most popular way or certainly one of the most where people will either massively reduce their cost of running their pension or massively increase the return on that pension by taking control of that and, and being more responsible and turning that more into a place where they can add and create value. Through the SAS pension. We speak about a lot and hear about a lot for our students who use that and there are other types of pension equivalent to that and in different countries, as we know, but there's, there's we're all standing on a mountain of value but overlooking. So I'd say you know, do your debits look at the episode on debits. Look at the very basic principles of the first three pillars of wealth, your home, your pension and your investments, and see if you can find value that's already there and put that value to work more elegantly in and stronger wealth building pillars which are you know, the business, the property, the joint ventures and intellectual property, although I gave them in a different order than I normally do. But nonetheless, you get the idea. So So many different ways that you can find money, use money, enhance the value of money. It's definitely not an excuse, Chris?

Christian Rodwell  20:08  
Well, yeah, just ambivalent as well. Sometimes people who don't have that many resources, yeah, actually makes them work harder, you know, and they appreciate it more. And we've seen plenty of people who've got, you know, good financial resources, and they still don't turn the wheel, because of fear or different reasons. So, no, sometimes lack of funds, you know, can can be the impetus can be that catalyst.

Unknown Speaker  20:30  
Yeah. And there are funds, of course, within other people, if you've got a great way to add value, you can collaborate and find people who have no time, but you have time, but they've got money, you don't have money. You know, this, this process of collaboration always sounds difficult at first, but when you're in a community, and that's one of the essences I think of where often these reasons of time, what have we done time, knowledge and money. That's because you're looking just in Salin yourself, you're not seeing a community of support that's outside of you that you don't have to build wealth on your own. I know I did. On my idea to do it on my own, Chris, because there were no guides, there were no lessons, there were no mentors, there was no guidance at all, there wasn't a holistic step by step plan, like, you know, we've created now for people to follow. So as a result, you know, it was trial and error. You don't need to go trial and error anymore, we can give you intellectual relationship shortcuts that allow you to, you know, get to where you want to get to in five years or less, you know, so it's doable, because the communities exist. So try and tap into those wherever you can. And I'm sure you'll touch on different ways people can do that, even if it's other people around you, who will share in common interests, you know, so you talk about the difference between trading time for money, and having money work for you the difference between owning the right to a job temporarily, or owning the right to assets permanently, to try and work out the difference for yourself and then connect and talk to others wherever you would connect and find other people to talk to that will keep you going and same arguments isn't it were things like health, Chris, you know, people will often do more, not to let someone down in a, you know, like a gym buddy or a running buddy or, you know, some kind of a buddy. So find a buddy, whether it's your spouse, whether it's your brother, whether it's your sister, whether it's a friend, whether it's somebody now, well build a community, find a community, and use that as well, to help you and I'm going all over the place because,

Christian Rodwell  22:43  
well, you know,

Unknown Speaker  22:44  
the threads of all of this together in order the five you you're gonna raise today, you can tie them all together anyway.

Christian Rodwell  22:51  
Yeah, well, you are leading us nicely into point number four, which is that lack of support, and we see this, you know, every week, so it's common. So you know, if you're listening, now you're feeling like you're kind of on the wealth building journey on your own, and you don't really have someone to talk to, and your partner doesn't get it or not interested. It's common. So you know, this is not a reason to hold you back to not take some action. And, you know, results often take time at the beginning. And it can be hard to stay motivated, or, you know, even believe that it's possible. But that's where that community, other people who will give you that little boost and say, you know, come on, I was in your shoes, but I kept going, and you start to see the results. So yeah, support really important, but there is no lack of support. And of course, the wealth builders community is here to provide you with that support. And we've mentioned our free Facebook group is the best place to, to jump in and, and begin that process.

Unknown Speaker  23:48  
And even the support can even be something as simple as we issue people, wealth wolchok hristo. Me, I love the wealth wolchok. I know we'll be amending things from time to time as people give us suggestions to improve it. But one of the things I love about it is the wealth thermometer. You can picture in your mind's eye, you know, when you were a kid, maybe you could see fundraising and you got the big bowl at the bottom and then the thermometer with the scale rising towards the top. And that was always you know, we're trying to raise this much money for charity or whatever. But think about that is a visual for you, even if you don't have the wealth chart, but the wealth chart just allows you to start to record every single time you're adding something to the monthly recurring income that's flowing from assets. And the first job is just to get the first 100 pounds, you get 100 pounds. When you've got 100 pounds, you're on your way, then it's 200 pounds, then it's 500 pounds, and you're growing incrementally, but the increments are not linear. Because as soon as you are in a place of support, you get accelerated because Do you see not just the problem of how to do something, but you see who is doing it. And we have a language we've adopted, which is the who not how language, which is credited to a great coach called Dan Sullivan, it's his language, not mine. But I don't mind stealing it for a moment. Because whenever there's a problem with how to do something, the solution is always there's a who, who knows how. And that's what we try and do is bring the who's to our community. And we've got a list of something like 5050, or so I think, at last count different categories of experts, and, and guides, not 50 to 100 experts, but you know, 50 categories, where we might have two or three people in each of those, so 150 to 200, people who are experts that, you know, we build time to build a relationship, they share our values, they share our ethos, and they buy into that, and therefore we can accelerate and help people, you know, get to where they want to get to quicker, because somebody has already done it before you so you don't have to think about this is doing on your own and support can be is is free as finding a buddy or you know, it can be paid for support. Nothing wrong with that. Lots of famous sports people and and CEOs have coaches or guides or mentors, whatever language resonates with you. And if your coach guide or mentor is bringing to you more speed, higher returns more value than the cost of that, then it's worth considering having something like that in your life. And as I said before, there was one for me, but I'm delighted to act as a mentor for others. And I'm delighted that people don't need a mentor, if they can find somebody that just gets them going to the first 100 200 500 1000 and then it accelerates from there.

Christian Rodwell  26:57  
Yeah, and you mentioned there two types of Port, you know, free support paid support. If you're paying for support, of course, you know, take time, if you're working with someone, one to one, make sure there's a resonance there between you make sure that you're a good fit. And then do your due diligence, ask ask for reviews, ask for testimonials. And because I've seen people rush into this in the past, Kevin, and you know, perhaps it hasn't worked out as they had hoped. And it's again, more wasted time and money.

Unknown Speaker  27:25  
It is it can be wasted time and money. I do accept the point. But you know, when people get to a place where they've tried something, you know, and then I'm sure this is leading to another point you're going to make Chris but I don't mind getting there slowly ahead of you here. They'll give up. And it's like, Okay, did you ever fall down when you were a kid? Yeah. Oh, did why do you just sit on your ass then and just stay still so well, this walk in business too hard. You know, now you didn't you get up and walk you did with the same with your bike they did. Same with your car, you did the same with relationships, I'm sure you've been through relationships and other the pain and the pleasure of of that it's the same with wealth, you need to find relationships that will add value to you. And there's plenty of places where you can go and look. And if you find a good place, then that should help you and speed you and make the journey more enjoyable. Because this isn't just about money, money, as I said earlier on. Just an idea. The whole idea to me is the wealth building journey itself has an end in mind. being completely financially independent, gives rise to incredible sets of freedoms, you know, so many different freedoms that we could go in to, we've done before Chris, particularly freedom of time and location and relationship and location being important one, given COVID and so on. But you know, those freedoms definitely there they're given rise to, but the real value in this to me is enjoying the journey as you go. Because if you enjoy it, then you get to a great place, then you build wisdom, and then you can pass the wisdom on to the next generation, which all comes back to me to the reason why and that's often if there's a gap in someone's willingness to do what it takes to become wealthy. It often starts with a lack of a good enough reason why and therefore, if the reason why isn't strong enough, you know anything will derail them when it comes to a problem.

Christian Rodwell  29:31  
Okay, well hope you're enjoying listening to our five reasons why people don't achieve financial independence, and we've got one more to come. But before we do that, why don't we head to trustpilot and pull out one of our latest reviews and I'm looking at one from Tim who says taking control of my pension and personal wealth. I can't thank Paul Brooks enough for his time and patience whilst I was learning about the world of possibilities that would be opened up by becoming a SAS trustee Paul was always available to answer questions and put me straight on any misconceptions that I had, you went above and beyond to ensure that I was armed with all of the facts before venturing down the road to become a SAS trustee. If you want to take charge of your own wealth, and create a lasting legacy for future generations of your family, and I highly recommend you speak to Paul at wealth builders,

Unknown Speaker  30:21  
Louis go, so we'll have to get Paul on and talk about stuff for almost Last time, we

Christian Rodwell  30:27  
had poor books on far too long ago, we definitely do need to get pulled back Alsace director,

Unknown Speaker  30:32  
yeah, so you know, that's an evidence of, of support, where the subject matter was, you know, more complicated, so definitely not go global. You need some, you know, expertise in there. But you can hear in that particular case, you know, that that term individually, you know, value that guidance and expertise and thing about a good coach, and a good guide is they guide you to equip you with the skills to be self sufficient, you know, so it's not about being a guide forever, it's being a guide for as long as it takes for you to be able to do things on your own. And that's the essence of good guidance, that's holistic, and it's impartial, is not trying to stick a siphon in your life to be there forever. It's there just to give you the right skill to get you ready, and then move on and let you get on with it.

Christian Rodwell  31:21  
Okay, then. So Reason number five, why people don't achieve financial independence is giving up too soon. So you alluded to it just now, Kevin, but we've said the average is five years, if you're really committed. So you know, if you put in two hours every week in, and everyone's individual as well, right? So you know, we shouldn't be comparing ourselves against others. And for some people, it will, you know, they don't require as much to become financially independent, so it might take them less time. So the key is play the long game?

Unknown Speaker  31:54  
Well, you know, as I said, it's a five year process, typically, and if it's seven years for you, that's, you know, 712 84 months 84 decisions Well, did you make 84 individual decisions to become completely financially independent, as long as you're measuring little milestones along the way, that should keep you going, rather than you're trying to imagine you need to become wealthy in 84 weeks, you know, try and see it as a longer term process, because it does take that time, not just for you, but for you to change. You know, true wealth building is a journey of transformation. It's not just a journey of financial transformation, you change as a person, you need to allow that to happen. And that comes from the education, the support the connections, the whole process, really, of immersing yourself in it little by little, and you get deeper and deeper, because as soon as you get to security, which normally appears probably in the sort of two to three year range, the fact that you've created security means you don't need to spend as much time as you were doing trading time for money. So that gives you more time, which then gives you more leverage. And then because you're already smarter, you've got more people in your life, you've made more connections in your life, you've made greater distinctions in your life. And definitely, you know, I think the real power in wealth building is the more you do, the more capable, you become making wealth distinctions, that at the beginning, you just don't see. Because you know, you just don't have enough knowledge. You don't have enough wisdom accumulated yet. And you need that time for that to happen. It's just like anything, you just have to let it evolve. So, you know, not giving up and not stopping is the key, just keep moving forward. And I think that all ties their ties increased, isn't it to having time, having knowledge, having some resources, you know, making giving some trust in somebody to get some kind of support? And if you do all of those things, you won't be giving up because you enjoying it too much. Yeah,

Christian Rodwell  34:04  
yeah. I remember listening to Keith Cunningham speak once at an event and keefer said to be the real Rich Dad, and he was talking in analogy he used is kind of queuing up in the supermarket. So you're getting closer and closer to the front of the queue about to pay and then you think are now forgotten something. And it's almost like that shiny Penny, you go off to grab something else, but then you come back, you're at the back of the queue again, and we see so many people kind of keep chasing a different, shiny Penny, and it just kind of puts them back. So it all comes down to focusing again, and that's why I love our member spotlights, which we do every month Kevin because we hear the journey of our members and most recently, Episode 101 was Louise right. And and if you remember, she talked about, you know, joining us as a founding member back in May 2019. So pretty much two years now, and I mean, Louise has been, you know, outstanding with her Focus. And but you know, she still is not quite at that security level, but that's through no shortage of, of, you know, doing the right things. But you know, she hasn't given up, she keeps going. And she's really, really close to hitting that level now.

Unknown Speaker  35:15  
Yeah, well, everybody's got a story to tell. So definitely tune in to those in you know, Louise, by her own admission, you know, would offer on different different tracks, and she will often refer to it as many do who speak to me about it. And I'll try and keep them on a simple path, rather than going on too many different paths, you know, easy to get sidetracked because people will pull you and push you, because they see you're interested in wealth, and they want to share of your, of your pocket. And that's I understand that. But it's important not to be derailed. And I think she admits herself that, you know, the focus came a little bit later. And certainly one of her biggest assets, she took quite a long time to make up your mind. And that's not the issue. So we're not in a race, if it takes you seven years, eight years, or even 10 years, it doesn't matter. And also the different levels that people want to achieve is, is fundamentally different for everybody, doesn't matter what level, you need to be financially independent or secure. That's your level. So it's difficult, because there is that slight downside to the community, Chris is when you're seeing what other people are doing, you can easily be thinking, Well, I'm not in that race, you know, so it's something we have to very cautiously address in our, in our program is to let people know with the that regular cadence of monthly coaching calls that it's not a race against somebody else, is just how long does it take you to get to where you want to go to. So just enjoy the journey. But like, you know, going on a wonderful trip around Rome, it's not how fast you get to all of them, is you take it all in, and you enjoy the guidance that you get from you know, that's why whenever I go somewhere I've never been to before, I always hire a guide, because they give you insights and experiences in a way you can't get just by, you know, running around very famous city, or place on your own. So I think that's something I encourage everybody to do is find a guide. Wherever you find the guide prom, get somebody who can help you, keep you on track, and ensure that you don't give up just before you get to the front of the queue.

Christian Rodwell  37:24  
So if anything that we've discussed today, something that you think all that Yep, that's me. Why not drop us a line? Why not? drop an email to Hello at wealth builders.co.uk and book a call with one of our team have a chat, you know, we're here to help you to find out what it is that's missing what you think we may be able to support you with. So yeah, drops an email Hello at wealth builders.co.uk. And we'll get straight back to you and we can arrange a call.

Unknown Speaker  37:50  
Yeah. And we can get anybody on stock. Okay. So you know, one of the things that I'm proud to have and I'm willing to get involved with anybody occurs, and you've seen it in action, haven't you have a CAT scan brain that built these distinctions over the last number of years, so long now I've got a member that I can diagnose where people are being stuck in the financial health of anybody within 10 or 15 minutes. So if you feel that you are stuck, and you need help, give us a call. We'll help you get unstuck and move you on to the next part of your journey.

Christian Rodwell  38:26  
Okay, well, we hope you enjoyed our five reasons why people don't achieve financial independence. And hopefully we've helped you to overcome some of those. So, but we'll be back a guess night, same time, same place next week,

Unknown Speaker  38:40  
Kevin. Until then, my friend I will see you.

Unknown Speaker  38:47  
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 membership