Retire Young, Retire Wealthy w/ Daniel Hill

Transcript

Unknown Speaker  0:02  

The purpose of wealth talk is to educate, inform, and hopefully entertain you on the subject of building your wealth. Wealth builders recommends you should always take independent financial tax or legal advice before making any decisions around your finances.

Christian Rodwell  0:20  

Welcome to Episode 155 of wealth talk. My name is Christian Rodwell, the membership director for wealth builders. I'm joined by our founder, Mr. Kevin Whelan. Hi, Kevin.

Unknown Speaker  0:29  

Hi, Chris. Good to be with you again today. And troubled times seem to be continuing. I think I said this before. Now, one of the new lines I'm using the new order is disorder. So it's always good to meet people who are able to carve a pathway when life is uncertain. And I think that's an important lesson. We're going to learn from our guests today.

Christian Rodwell  0:52  

Yes, we are. Indeed we've got Dan Hill, the founder of PPN. UK with us today and Dan's extremely accessible entrepreneur, business owner, property investor. So he'll be talking about his strategy and how he's managed to build wealth across multiple pillars. But a very, very clear message, I think, from Dan's day is that if you follow a plan, if you have a blueprint, now, success is predictable.

Unknown Speaker  1:15  

As his failure, Chris, earlier, equally predictable, follow a plan and don't deviate from it too far. Yes, allow, you know, uncertainties to make you go look, because that's the whole point about uncertainty should actually make you curious when you see volatility and uncertainty, but don't get deviated from the fundamental principles of the plan. And what was reassuring to me, Chris, and you did a good job of getting down to share his lessons is how much on path we were together? How much although the principles as you expect from different creative people are expressed in slightly different language, but principles are the same. You know, so I think we can definitely pull out those principles and just weave them as he shares them into our own language. For those who are more familiar with wealth builders speak.

Christian Rodwell  2:11  

Yeah, so lots of good lessons to come out of today's conversation. So let's head over and listen to our interview with Daniel Hill. Dan, welcome to our talk today.

Unknown Speaker  2:20  

Our Dan Christian. Yeah, very,

Christian Rodwell  2:22  

very well. Thank you, Dan. I'm sure many of our listeners will be familiar with you already. You're, of course the founder of PPN. UK, the pulse property network. And, and obviously, the creator of the property entrepreneur programme, very successful programme helping people to obviously build their property. Journey, you know, to become financially independent. And of course, that is the heart of the message of our conversation today with me, which is retire young, retire wealthy. So let's talk about this, Dan, because I'm sure if you asked 95% of people in the UK, would you like to retire Young? Would you like to retire wealthy? The answer would be yes. But so many people don't achieve that. So why snapchick?

Unknown Speaker  3:01  

So I think probably a couple of points to acknowledge or make clear, I think the concept of retiring, young, retire wealthy, so retire Young is younger than you would otherwise, you know, if you're listening to this, and you're 5055 60, and you're planning to retire at 770 7580, if you can do that earlier and be in a better shape than you would have been otherwise. That's the sort of concept of retiring young. And then wealthy is about. I think one of the things that stops people is they don't have a solid understanding of what wealth is wealth creation, and unprompted entrepreneur we talk about, I did a podcast on the official profit entrepreneur podcast called Rich, bad, wealthy, good. And riches, basically, millionaire lifestyle, you know, Ferraris, helicopters, spending lots of money, you can do that. But wealthy is having a portfolio of assets that give you long term financial security and financial independence. And I think people don't. People can get caught up with spending. It's not how much you make, it's how much you keep. And I think people can get caught can get caught up in wanting to be perceived as being rich rather than actually being wealthy. And also, I think it's one of those things that people feel is so far out of reach, that they just don't even start they think, you know, I'm doing my job, whether they're employed or they're an entrepreneur, and working hard. It is what it is and they never build it into the plan. But actually, you want to start yesterday not you know, not in a decade's time.

Christian Rodwell  4:32  

Yeah, so probably be helpful, Dan, for our listeners, just to get a bit of a better understanding of what your backstory is, you know, where did this begin? You've obviously had great success. I know you've won many awards, Young Entrepreneur of the Year awards, you know, what do you attribute your success to and where did that all start?

Unknown Speaker  4:50  

I think a lot of it is strategy. There's obviously the basics of being entrepreneurial, driven, enthusiastic, optimistic, you know, a bit of a masochist and probably work too hard. But mainly the sort of progress I think the difference we see, especially on our programme between those that really do really, really well. And those that perhaps don't lack enthusiasm, but don't seem to make progress is a strategy is having a really, and we spend three months every year on property entrepreneur building a strategy. And that really is you know, if you can get strategy and a blueprint, so you guys teach your, you know, your Pillars of Wealth, you know, that's a blueprint. And if people execute that they'll do well, property entrepreneur is a blueprint, if you execute it, you will, you'll get the results and wealth creation is, is no different. I started in business, I've been in business all my life. I've been in business 20 years this year. I've been teaching it for a decade. And as far as the wealth creation part goes, I've been financially independent for in different capacities, the majority of my adult life, but I actually probably hit a biggest milestone last year where I actually sort of formally retired, I sold, my big company, we had eight offices around the UK, went from a team of 40, down to a team of four. And actually, then that was my sort of real sort of retirement trigger as the 35. I'm 35 at the moment, so five last year, when I retired. And that was basically from spending the last decade, building wealth. And the model that we use, called the wealth hierarchy has got three layers. And I think anyone listening to this who wants to have financial independence and be wealthy, would benefit from following this blueprint and the first layer, imagine a triangle, the first layer is cashflow. And the aim of the game here is doesn't matter whether you're employed or self employed or running a business, whatever it is, you want to get to a point of breakeven as soon as possible. So reduce your overheads how much it costs you to live on a monthly basis. And then build a business or a job or a portfolio to pay for your monthly salary, your overheads, your mortgage, and get to that breakeven point as soon as possible. Now, if your overheads are 100 grand a year, it's going to take you a lot longer than somebody who's decides to move in with their partner or move in with their parents. And just do it a lot quicker. So That's level one. What that does is it buys back your time. So long as you get your bills paid, you can actually you know, you could put your feet up and just live a good life. Or, with that new time, you don't have to work for money to live, rather than scale up a noisy business, start to focus on large capital events. So use that time to because the mortgage is paid to do some flips or build to sell developments or sell sell. Some companies just make some lumps of cash, which don't take weeks, they do take months or even years. But when they land, they're, you know, 50 grand, 100 grand, half a million pounds, a million pounds. And that's where you really start to create net wealth is these large capital events. And then to move up to level three, use that profit, start buying boring assets, no single labs, commercial, anything that you can lease out, which is Low risk, low return. And you just keep repeating level two and level three, until we got portfolio of assets, which you've got, you've bought with your own money from the profit. And the the money that comes from your assets is enough to cover your cash flow. And then when you get to a point where the market changes, or you've had enough, or you just want to retire, you press the button, sell the cash flow business or close it down. And then you can live off your your assets. That's the that's the strategy that I've used. And I've, I believe that to be the best model for for genuine sort of wealth creation.

Christian Rodwell  8:39  

Yeah. And it makes complete sense there. And, of course, generational wealth is important to people. And that model as well allows you to pass that on, doesn't it?

Unknown Speaker  8:48  

Yeah, definitely in the current market, as well as you know, a lot of entrepreneurs or investors get nervous because you know, I invest in stocks, I've got my own portfolio of investments, assets, businesses, I invest in those sort of things, and stuff a lot higher inflation's can can scare people quite a lot, think you know, this, this is going to be real bad thing. But as an entrepreneur, any volatility and change and risk in the market is a good thing. So as you start to think, well, inflation is actually the best repayment mortgage you could ever have. If you can go and acquire another million pounds worth of assets that go up in value in line with inflation, you know, either the asset values going up or the inflation is paying off your debt. And it can be a really, really good time. And you know, we were really, really are making some moves at the minute in an uncertain market. And it's where we've done best over the last 20 years is in that uncertainty in the beginning of the curve? Yeah,

Christian Rodwell  9:41  

yeah. So you've obviously had a lot of success in certainly in the property pillar and the business pillar Dan, our seven pillars we obviously talk about creating IP and you've obviously developed a lot of that now within your programme, and joint ventures. I know you do a lot of angel investing as well, but someone listening now who's passed Actually, you know, at the early stages down, and they're, you know, they're choosing their path. Why do you think property is a good path for people?

Unknown Speaker  10:08  

I think like, I'm, I'm not the biggest passive income sort of promoter, like you very rarely hear me talk about passive income. But if you were to look at genuinely passive income, probably the closest two asset classes you'll get is either property, or public stocks, you know, they are really where you can put capital gains, and it can be passive. So that's definitely an appeal. I think whilst people can perceive it to be quite risky, I actually see it as quite low risk, because it's asset backed, whereas, you know, someone's starting their journey, and they look at the other pillars, like stocks and shares, you know, here to come into stocks and shares this year, for the first year, you'd have had a baptism of fire, because the whole thing's, you know, going south. Whereas property, yes, you'll have your bad days and good days, but you'll always be able to either sell it or rent it out. And as long as you're playing the long game, I think it's quite low risk. And I personally like it, because it's tangible. Now I've got money in stocks, and joint ventures and shares and all sorts of bits and pieces, bit of crypto, but it's all very, doesn't really exist, you know, I can draw around here. And within 1015 minutes, we're driving past solid brick buildings that got people living in, that are worth hundreds of 1000s of pounds. And it's for someone who's a bit old school like me, it's quite nice to have that tangible asset. So I think they're probably the main reasons that I chose to get into it. And I think people will consider it as an asset class. I think it's a nice balance of risk and return.

Christian Rodwell  11:45  

And in your property entrepreneur programme, Dan, I know you've you've kind of plotted out the property entrepreneurs journey, haven't you? And there's certain levels and seasons and problems that you see coming up time and time again, which are able to help people follow. So could we perhaps run through that? I think that'd be quite interesting for our listeners.

Unknown Speaker  12:02  

Yeah, absolutely. I think the good thing for people listening wherever you want to be an investor or an entrepreneur, wherever you are, in your journey is, and this is I've been saying this for 10, more than 10 years, 20 years, but I've been teaching it for 10 years, is that success and failure are very predictable. And I mean that like literally binary, it's not a magic wand, there's not a secret algorithm, there's a blueprint, if you want to bake a baked Alaska, which is the hardest desert to make, you know, it's frozen in the middle, it's on fire on the outside. If you get the right recipe and you follow it to the tee, you will get the result you're aiming for businesses exactly the same. And the blueprint we've created, which is just modelled my journey over the last 20 years, and we've now taught people for 10 years how to do it themselves. And it's enabled them to systemize, scale, sell, retire, diversify, is there's three levels. So those are people that are listening, that are thinking to start and they'll come in at the landlord level, which is like one man bands, you are the business you do everything. Once you've been there for long enough, and you figure out how to create what we call value a way to make money on your own one man band. We then leverage we have systems and team and you move up to the investor level. And this is like small business, highly lucrative, great farm small team of people, it's probably where most people should be really, really nice, sweet spot. And then for those who just absolutely lost the plot, and they just masochists and empire builders need to take over the world. You've then got your entrepreneur level, which is multiple teams, multiple streams, highly scalable, highly tradable sort of businesses. And to get through the three levels, we go around the four seasons. So every year, we set a new strategy in the autumn. In the winter, we focus on systems and finance, get the car ready to race. In the spring, we onboard the new team members, we warm the tires, we get ready to go. And then in the summer now is what we call championship season, where we grow, we expand we do loads of deals. And then by the end of the summer, you know the tires are shredded the steam coming out the engine, we're absolutely burnt out, and we click the car back onto this cruise control and go back into another another season. And when you go through that there's only five problems like every single person listening to this, every single business I've ever invested in bought, trained, worked with, there's only ever five problems and what you got to do is overcome the five problems. One is lack of clarity, like absolute clarity on your market, your model, your margins, your strategic positioning, lack of systems, you know, lack of efficiency, lack of effectiveness, lack of finance and you only really need two types of finance capital which is to invest in the business and then cashflow a lot the blood of the business to keep it going. Lack of capacity which is all about man hours and expertise making sure you got the right people and then lack of leads like real high quality, highly lucrative leads People that want to do business with you. And whilst that sounds, you know, that was about 90 seconds explaining that, that literally is it. It's a blueprint I've used for 20 years taught it for a decade. And if you follow that step by step, I guarantee you, whatever you want to achieve in business and life, all you have to do is execute when you know the know the blueprint.

Christian Rodwell  15:18  

Yeah, it's really good to hear you make it sound so simple there, Dan, because people overcomplicate business don't like

Unknown Speaker  15:25  

the hardest thing, like Steve Jobs says it best, the hardest thing is to keep it simple. And people will come to me with a business plan, like 20 pages, who want us to invest. And I'll give him a one page spreadsheet and say, Look, fill this in. And that'll tell me in 60 seconds, whether this has got legs or not. Like the hardest thing is to keep it simple and very easy to say very hard to do.

Christian Rodwell  15:46  

Yeah, there's three cornerstones, we really rely on wealth builders, Dan is good education. So whatever the asset class, you know, you need to understand it, and that education can come in lots of different ways. Obviously, you can get free education, paid education, you know, there's plenty of it, making sure you get it from a good trusted source, though, of course, then the support. So making sure you've got people around you, you know, a sounding board, not just going alone, you know, we talked about the DIY as some people just trying to do it all themselves. But we know that collaborating is definitely the path forwards. And then good connections, you know, you're going to need the right connections that be that professional or be that you're coaching or your mentors. And I know obviously those three are very important to you, as well and joint ventures working with good people. And I know there's some people in your network, Dan, people like Dan Priestley, who we've had as a guest on wealth talker, Simon's Ucci, Roger Hamilton as well. And wealth dynamics is something that we give to all of our members when they join, because we think it's so important that they really understand themselves at the beginning. And it can help kind of point them in the right direction in terms of what the right strategies are for them. So you know, anything to add to that, because I know you use wealth dynamics as well and your business.

Unknown Speaker  16:57  

Yeah, I think all those things that you talked about, there are so important. And it's very easy for us to say that as consultants and track people who are in training companies, because people think, oh, you know, you're obviously saying that because you sell in training, you know, we sell over seven figures worth of training every year. But I've spent that and again, on my own education. So all those people you mentioned there, I've either done business with don't joint ventures with made money for all paid money. In fact, every single one of those I've paid 10s of 1000s of pounds. To spend time with learn from Roger, I flew over and spent a week at his resort with him in Bali, like it is absolutely crucial that you we invest in our education, the people we have around us, our peer group, probably a few things to add would be the first would be around peer group. So really good sentiment that somebody shared with me a few years ago, or a long time ago, it was used to have three peer groups, instead of a peer group of people in front of you, who you learn from a peer group behind you who you learned from teaching, and a peer group at the same level, who you learned from sharing the experience. And I've always held that quite close to heart because it gives you a really good balance of where you know where you are and and keep it keep it balanced. The second thing would be specifically around wealth dynamics and personal developments. And a lot of people listening this will be into the that sort of thing is really starting to understand who you are. You're a very different person. To me, I'm a very different person to my partner, we're all very different people. But again, with blueprints, whether it's wealth dynamics, or psychometric, other psychometric testing, or some of the more like spiritual woowoo, stuff like human design, when you start to really understand who you are, it gives you a much better level of like contentment, and I don't know, say competitive advantage. But I mean, more like, if you understand who you are, you can work a lot better as an individual. But also when you understand how all these things work, you can work better with other people. And I did a podcast a few months ago on the official problems for a podcast called speak my language. And what it talks about in there is that I speak 15 languages, and they're all English. And what it means is that some of them are wealth dynamics. Some of it's about energy levels, some of it it's about like love languages, you know, how you speak to your partner, when you understand that we're all very different. The odds are against you to connect with people just turning up and talking because you're talking your own language. Whereas if I can understand somebody else's language, it just facilitates that conversation transaction deal relationship million times better, and it's absolutely game changing stuff.

Christian Rodwell  19:44  

Now, I could probably guess what your wealth dynamic is, Dan, but why don't you tell us?

Unknown Speaker  19:48  

Well, yes, more than I'll guess yours. Well, I would guess it would be a creator. Yeah, absolutely. Like off the scale, create creative mechanic. And I would say you're probably like a blaze supporter. Maybe

Christian Rodwell  19:59  

I'm a dealmaker. So you're right on bottom right hand corner there, bit of tempo and bit ablaze.

Unknown Speaker  20:05  

Well, that's that. dealmaker, especially tempos are one of the best places to be very rare. Not many not many tempos about

Christian Rodwell  20:12  

no and Kevin's a star. So we're starting to dealmaker, a perfect match.

Unknown Speaker  20:15  

As long as you got someone in the back office doing your time's up after you buy.

Christian Rodwell  20:21  

Yeah, but you know, it really is so powerful. And you know, it's really good to talk about this. And hopefully, anyone listening who hasn't explored wealth dynamics, definitely do go and do that. And then just to wrap things up there, you know, we're talking today about retiring, young, retiring, wealthy, wealth doesn't necessarily mean money, it means your health, it means your lifestyle, it's all of those things that contribute to making someone happy, ultimately, is there anything else that we haven't discussed today, just some sort of principles and fundamentals for anyone who's really really aspires to kind of break free of the time for money trap that, you know, can help them?

Unknown Speaker  20:54  

Probably close in sentiment is, so we have three values on property entrepreneur. The first is wealth, the second is health. And the third is life by design. And this is really, really and this is one of the reasons I think property entrepreneurs quite popular is because we're not the I lived on a narrow boat on 750 quid up until about a year ago to my missus got sick of it. Because you've got two options in life, you either live or live by design, which is like really getting to know yourself and every year assessing where you are deciding where you want to go next, and then actually making some drastic decisions to live that life by design. Alternatively, you live a life by default, or live by comparison, which is basically a default is you go to work, you work 40 hours a week, you get 20 days holiday a year, and you just drag as you settle, and you drag yourself through life. Or worse, you live a life by comparison, were you looking at social media are celebrities, the highlight reel of Facebook, and you think that's what it's all about? And the reality is, for some people, it might be you know, some people want to be celebrities, and rich and famous. Other people just want to have two sausage dogs and live on a narrow boat and like be financial independence. It's like, it completely depends what you're about. But I would say closing sentiment is live boy design, not live by comparison, and really get to know who you are what you want. And then just commit your life to going out and getting it really,

Christian Rodwell  22:15  

yeah, no great words to wrap things up. And really appreciate you sharing with us today. Dan, if anyone wants to find out more about the property entrepreneur programme, where can they go?

Unknown Speaker  22:24  

I highly recommend the official property entrepreneur podcast. It's now top 5% of all podcasts in the world by monthly downloads. So check, check that out and all of our stuff on those free, it's loads of blueprints, there's no sales stuff, it's just absolute content. And then if you follow me on social media, Instagram, property entrepreneur, LinkedIn, Facebook, and on Facebook, we've got a community, eight and a half 1000 of us in there called the property entrepreneurs, community. Again, completely free. Tag me and I'll answer your questions. And yeah, just just give it a spin and see what see what you think.

Christian Rodwell  22:57  

Fantastic, Dan, thanks so much, Ben, great guest today.

Unknown Speaker  23:00  

Thank you for having me. So great.

Christian Rodwell  23:03  

Okay, lots of interesting points there from Dan really enjoyed that conversation. Before we dive into the debrief. Kevin, let's head to Trustpilot. And we've got a great review come in this week from Lorna. And Lorna says during the 15 months of my wealth builders join journey, I've discovered many things that sit in the didn't know I didn't know quadrant, the bit we need to be aware of but can't see for ourselves, eye opening, thought provoking, educational, empowering and exciting, we are activating and living the plan that will facilitate us to choose to trade time for money or not. The genuine honest and personal approach of the team whose values are worn on their chest is worth every penny of membership and more.

Unknown Speaker  23:45  

Well, I just love how people express themselves in a different way. It was interesting because God calls to reach out to Lorna because there was a question that she was asking, which was legal and quite tactical. And while I'm not a lawyer, I have access to lawyers in my wealth builders, Big Black Books, so to speak, you know, this this ability of wealth builders to be able to reach out to all people who are excellent in any particular niche. We need to come back to that word niche in a moment. And so she was asking some questions and I said, Well, okay, let's have a quick call to assess that. And basically, she said, you know, what I'm getting from the lawyer who I've asked to do some work is kind of gobbledygook and the runaround for two years and I've got that clarity in about 20 minutes. And you know, it's just, if people can just cut through it and not, I suppose try and play the card which is you know, legal speak legalese financial speak, financial ease, which you tend to get, don't you in the, the overall kind of expert area, and she was delighted with the feedback and prompted she said, I've been listening to your podcast for ages and I've heard people give reviews, but I've never given. And I said, well keep one if you want to, you know, because it's always welcome. And that's what we really need people to do is to step up and and say what they're thinking because it helps us, it helps other listeners and it, it actually helps them to cement their own thoughts about what what builders done for them, and only did a great job there. So thanks very much. I appreciate you taking the time this time.

Christian Rodwell  25:26  

Yeah. You mentioned clarity there, Kevin. And that was the first of the five problems that Dan talked us through. And I mean, you can hear obviously, just from from Dan's speaking there, he's clear on what he's doing. And he teaches that to many, many people, and really, when you boil it down, wealth is just having a portfolio of assets that can look after you. So as we, as we say, with the seven pillars, you know, you find the pillars that work best for you, you focus on acquiring building, obtaining assets that generate cash flow. And really, that's, you know, as simple as it needs to be, you know, if we really break it down,

Unknown Speaker  26:00  

well, it's easy to say that, but I think what tends to happen, because in the breadth of opportunity that's out there or hidden in different languages, in, in brochures, and emails in offers, of all kinds is people get overwhelmed. So the one of the great benefits, I think, in the early stages of our recurring revenue roadmap, and the clarity piece that comes at stage one, Chris, and then onwards, is getting your wealth dynamics, so you know who you are. And then you're looking at your assets, or your existing stocktake, if you like through debits and the roof, to be able to get clear on where your leverage comes from. And it becomes obvious to us doesn't it really, that when people share with us, the time they've got the money they've got the interest that they have, where to start. And the important thing in wealth building is starting, not finishing. Because if you start to build one thing, then you can learn how to build another. And for many people, they get stuck, because they think the first place to start, let's say, Dan gave a great job of describing why property is a fantastic asset. When he talked about the solidity, the tangibility, the security, we have a love affair with property in this country. And it's understandable why it's the most popular asset. But when when people see the property asset, the easiest step they appear, or they think to take is the kind of buy to let strategy, the strategy of finding a property, making an offer and finding a tenant. But the challenge is when you have this new disorder, and you have all of the challenges of a overheated market, the concept of markets is you're being pushed and pulled at the mercy of what markets do. And I think that's the challenge. So you could have someone who thinks I'll do by Gillette, because they get fixated on a simplistic strategy. But they can't find anything that works. The numbers don't work, because they just can't find enough distinctions. So I think I'm going to take Dan's point. And say, clarity is critical. But it's distinctions that make the difference. So here's my alliteration. Again, clarity is critical distinctions make the difference. And I think the wealthy mindset is to be able to make distinctions and create your own market, understand how markets work. But then understand how you can niche you can find a way by copying others. And that's really the essence of it, that you can almost instead of being pushed or pulled by the market, you've got a fastball motor, and you're cutting through it, you know, and that's the essence of it. So it's learning from other people, where are the niche opportunities, where you can add value yourself. And there are so many of those, even in the buy to let sector, but not, if all you know, is what you read, and what you can go. So it's really critical, Chris in an uncertain time, to be willing to spend the time to get some education support, and the right connections. And you mentioned that point in the podcast as well, to to help you make those distinctions. And what was interesting for me is Dan has invested his time, energy and money in being able to create his own distinctions from others. And you mentioned some of those, like Simon zuccini, like Roger Hamilton, and many others. And I think, again, wealth builders will find that willingness to be able to reach out to others in all sorts of different ways to be able to make those distinctions because Have distinctions always come from WHO? So we've said before, whenever you got to how challenge? The answer is always a who. And those distinctions come from being connected to others. And that's what we love to do and help people see, well, somebody else has done this, why don't you look at that and see if that might work for you.

Christian Rodwell  30:18  

Dan mentioned peer groups didn't he and the analogy, you know, we often talk about reaching out, arm in front, for those that are slightly ahead, we can sort of hold on and learn from them and be pulled forwards, and then obviously, putting an arm behind as well to help those that are slightly further back. So yeah, you know, lots of lots of comparisons there, which would totally resonate with. And also Dan made a good point about living life by design, or living a life by comparison. And perhaps seeing even more of that, aren't we now?

Unknown Speaker  30:48  

Well, that he made some really outstanding points, you know, and I think Dan's a very smart guy, and you could tell he's able to make his own distinctions which he's done. And I love that point about life by design, because so many of us and he articulated it, well live life by accident, you know, when we get a career by accident, a job by accident, you know, everything is accidental, and therefore, you don't get to it, I suppose. Be the best person you can be live, the life that you would choose to leave is almost like a compromise. And many people that compromise comes too late, isn't it, they work hard, hard, hard, hard, hard for 40 years, and then retire. But often either don't make it or hate the journey on the way when there's so many things you can do to live life, by design now, and all you really need to do to do that, frankly, is get a security. If you can get income security, then you get your time back, you know, because that's the whole point, isn't it, if you build a paid, you can create that freedom to be able to spend more time doing what you want. And hopefully what you want is also aimed at helping you to, to build assets. But I think the point you were alluding to there, Chris is, increasingly now I think our children are just being tempted and being dragged into life by comparison, because of the ease at which and the visibility of social media. So you can see other people being successful on Facebook, tick tock, Instagram, whatever ways you would see them accessing what people are doing. And then success looks so easy, without necessarily understanding all of the processes and the hard work that needs to be done. So I think our kids are going to be challenged by that. Because they will say, Well, why can I have that? Why can't I do that? And it's because you have to craft it and create it for yourself. So as we think about that point, and I'll definitely note that point well, in the design of the wealth builders for families programme, which is still ruminating, in the back of my mind, Chris ready for, you know, getting out sometime in the summer, I think, then this whole point about being a great money role model for your kids, is to try and help them understand and see what they're doing, you know, watch that screen time and see what they're doing so that they don't either live a life by comparison or live by entitlement, where they think because you've done well, they automatically have the right to do well. And I've got some very distinct and strong views about how you ensure that you bring up your kids to be wise and responsible. Not entitled. And spoiled.

Christian Rodwell  33:36  

Yeah, yeah. So we really like the message today retire young, retire wealthy. And as Dan said, it's, you know, not retiring in your 30s necessarily, but wherever you are, we know that if you follow a plan, and we say five years, on average, from financial insecurity, to independence, but you know, whatever plan you can do it, you can achieve it and you know, it doesn't matter what age you are now, just set a goal and work towards that.

Unknown Speaker  34:03  

Yes, and it doesn't actually matter whether you're young or old. Because I often get that question more often than not from the older people think they've left it too late and they haven't because you know, as long as you can see longevity beyond five years, you know, that's most people can see that even if they were 70 they could see well, I should still be around at 75 Then you've got plenty of time to be able to combine the leverage points of the first finance the interest or intellect relationship systems and time and the two most important ones are where are you financially right now and debits helps you bring in find more money. And as interesting I was doing a presentation Chris just recently and talking more specifically about the the cost of stock market remember we changed the debits the est and stock market fees and how blissfully unaware even The most smart property entrepreneurs are of the pensions they've got in their life and they somehow consign them to almost like a Do Not Disturb till 65. Instead of realising they can not just dramatically cut their fees normally by 50%. And despite the fact, which is really fascinating to me, Chris, that we mentioned this right that you can save 50% In a time when inflation is going up, when everybody's moaning about prices, we make an offer to say, if you've got a pension, we can probably reduce your fees by 30%, not just this year, but for the rest of your life, and the rest of the lives of the kids. But so few people reach out and say hello at wealth builders. Dakota, UK, can you help, you know, I've got one of those. And for the vast majority of people they do, right. And in a room of people, I can get people to overcome that inertia. But somehow, over distance, by zoom or by stream yard or by a podcast doesn't happen. So come on, you guys, you listeners out there, they get your pensions, you know, get them out of the cupboard, have a look, phoned them up and say what am I paying in pounds and pence or dollars and cents, or whatever it is, per year for this money. And you can almost certainly reduce the fees by 50%. And then that extra 50% You've saved is a seed to plant for you and for the next generation. So come on, so few people doing it Chris is crazy. Or if you don't like what getting out from us get help from somebody else. But you can definitely cut your fees, typically by 50%. And that's massive, Chris massive.

Christian Rodwell  36:46  

Yeah. So do reach out to us. Email us Hello at wealth builders.co.uk Just put pension fees in the subject line. We'll pick that up. And we will definitely get on to that for you. So Well, thanks again to Dan, for sharing all of that great knowledge with us today. Thank you for listening. We appreciate it. If you've got two minutes, why not head over to Trustpilot now and leave us a review and you might hear your name being shouted out next week or following weeks. And yeah, if you've enjoyed today's episode, if you think someone else would enjoy it as well, why not just share it hit share on your podcasting app and spread the love we would appreciate that very, very much. All right, Kevin. We will catch up Same time, same place next week.

Unknown Speaker  37:27  

We will indeed Chris and until then my friend See ya.

Unknown Speaker  37:33  

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Transcribed by https://otter.ai