FINANCIAL LITERACY & WEALTH CREATION #podcast #finance #success

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Welcome to the Legacy Leavers series on Success Secrets Exposed. Tune in live every Tuesday at 7 PM Eastern time or Wednesday mornings in Australia on W4CY Radio and Talk4TV. The series showcases experts, changemakers, and disruptors leaving a lasting legacy with those sharing their wisdom with the world.

Good morning, good day, and good evening to you all, and welcome to another episode of Success Secrets Exposed. Today our topic is financial literacy and wealth creation, and our guest today is Andrew Woodward, a game changer in the personal wealth market with his innovative 3-pillar framework, which we'll be discussing today. Now, Andrew empowers individuals to grow their wealth independently ensuring that they retain control over their financial futures. His clients are on track to add 7 figures to their net worth, and Andrew's mission is to transform the financial outcomes of over a million people, creating generational financial freedom. So please welcome to the show Andrew Woodward.

Hi Sally, good to be with you.

Yeah, good morning and welcome. Lovely to have you, and I've been excited about our topic today, and obviously your insights around this. So thank you very much for joining us.

A pleasure to be here.

Yeah. Now I'd love for you to kick off with a little bit of a backstory because quite clearly we like a good story. So tell us a little bit about the backstory as to what led you to finding and creating The Investor's Way and sort of starting to create this legacy that you're doing.

Yeah, look, it's a fairly long story, but I'll break it into the 2 core components to shorten it down for the audience. But basically, from a very young age, I was exposed to people through sport who, you know, I was playing an adult sport as a teenager, and I got exposed to people who were in the financial markets, and they just kept peppering me with, you need to get your money working hard for you. So that was something that got seeded very young in my journey. Fast forward to a much later date in my life, I was in my early 40s. And I joined a cycling charity to raise money for cancer research. And I became quite proficient at raising money. So I became good friends with the chairman of the charity. And he became a bit of a business mentor. Wow. And at the time, I was the CEO of an organization. And, you know, I was having a lot of fun, but I just wasn't quite loving what I was doing. And I was one day complaining to this mentor that I wasn't loving what I was doing. And like a good mentor, he got the reality stick and poked me between the eyes with it and basically said, Andrew, you know, I'm involved in 5 businesses, you've got one job, surely you can do more. And we'd had a long conversation many times about how financial literacy is not taught at schools and how, you know, the poverty rates and all these types of things, we talked about them many times, and he knew how passionate I was about it. So he literally just looked me in the eye and said, Andrew, you need to teach people what you've been doing. And that meeting happened on a Wednesday. And by the Saturday, I had registered the name The Investor's Way. I'd engaged someone to build me a website. And the rest is history from there.

Yeah, beautiful. And happened quite quickly when you know you're on path, on task, etc., with the experience that you've had.

Yeah, I'm one of those people that once I decide I'm going to do something, I do it.

Yeah, clearly. No, that's awesome. And So you've had experience with creating your own personal approach to wealth management, and as a result of that, you've created your 3-pillar framework. Talk us through a little bit as to even the journey that you've had when you've created The Investor's Way, because I imagine there's been evolutions in there. Talk us through some of those evolutions and the different challenges you've seen for yourself and for your clients.

Yeah, that's so true about the journey because when I first started, I went down the path of writing some courses. So I wrote a course on money management and a course on how to invest in property, stocks, and other assets like gold, silver, bonds, those type of things. And, you know, I joined one of the world's best mastermind groups to teach people how to launch products online and build an online business. And went down that path of trying to sell courses and realized through that very same mastermind group after a few years that 75% of people who buy an online course don't even open it, let alone finish it or get any results from it. And I was just not interested in saying I'd sold a whole bunch of courses if nobody was actually getting any benefit from them. So after a lot of trial and error and different ways and means of trying to get people to engage with content and change their circumstances, I engaged myself and another business coach, an online business coach based here in Australia. And he basically directed me to go down the path of one-on-one coaching. And so to do that, I knew I needed to have some form of framework to be able to teach it. And that's where the PTS Method came about. Yeah. To teach people a framework that is repeatable, that they can apply to their finances and get the results that they were looking for.

Yeah. And isn't it, isn't it interesting with the framework, when someone's got something that they can see that's a step or a framework, it goes from that intangible to tangible, which helps them actually implement something.

Yeah, that's right. Like, implementation is the key. And one of my mantras, I guess, when it comes to growing your wealth is that you want to be doing something every month. So for a lot of people investing in something they think they should be doing, and they might think about it once or twice a year, and then, you know, they either do something or they don't. I'm more of the mindset it's a monthly activity. And so we need, we need those tools or those systems or frameworks to enable us to engage in the activity simply and effectively, because we're all time poor. I get that. And so we need to be able to do it efficiently.

Yeah, and repeatably by the sounds of things there as well.

Yeah, that's right.

Yeah, beautiful. Um, so what makes your framework and what you're teaching different to what other wealth creation strategies? Obviously you've talked about it being repeatable and implementable, and you've also touched on the fact that we're not taught financial literacy in school. And so talk us through some of those elements of how that's all come together for you?

Yeah, look, I think there's a few differentiators in, in how I go about it. The first one is there's, there's plenty of people who will teach you or sell to you how to buy a property. There's some people who will teach you how to invest in the stock market, although it's more aligned with trading in the stock market, which is a very different beast to investing. So there's a few of them out there.

Yeah.

And then obviously, you've got the financial advisory and the financial planning people who will do it for you. My mindset, my methodology is about teaching you to be able to control, manage, and grow your wealth yourself. And I teach all the aspects of stocks, property, gold, silver, bonds. I don't touch the crypto market because I haven't got myself comfortable with the risk profile of it yet. But in terms of that differentiator, it's I'm It's all about empowering people with the confidence and the tools and resources to be able to make decisions themselves so that they're not outsourcing their most important asset to somebody else who probably doesn't care as much about your money as what you do.

Isn't that true? Isn't that so true? But by default, we do all tend to automatically outsource because we don't think we can have the expertise and the understanding, which comes back to that confidence element and having nothing tangible to be able to work with. That makes perfect sense.

Yeah, look, I might be about to upset some of the audience, but I believe banks and financial institutions have overcomplicated wealth so we feel obligated to pay them to do it for us. When in reality, investing is pretty simple when you pare it back. It's invest in quality assets over the long term. That's it. There's no more complication to it. Sure, there are intricacies in a whole host of aspects. But in terms of the goal, it's investing in investment-grade assets repeatedly and you'll get to where you want to

be. Yeah, I love that you've said about the overcomplicating. I've been having numerous rants this week about being in the marketing and the content space about how virtual assistant organizations are overcomplicating even just engaging a virtual assistant because they're over-teching the clients with all this extra technology that they need to learn that's not needed. It's just, you know, so anyway, that's—

I often say if an investment needs a 100-page document to explain it, it's probably a little bit too complicated.

Yeah, there you go. Yeah, yeah, yeah, very interesting. So from the perspective, and I'm just curious around this, and this comes back to my marketing side of things, when we talk about LinkedIn, we talk about, you know, you can do great things on LinkedIn in 20 minutes a day. So as it relates to your strategy and that monthly cycle, is there a sort of a timeframe that an you know, a benchmark timeframe that people would generally spend per month? Just curious.

This is, this is actually one of my core outcomes that I'm trying to achieve for people. And that is that after they've been through my program, I want investing to be a 1-hour-per-month activity.

Yeah. So

it's something that you— and this is what I tend to do. I have a reminder in my calendar for the last Sunday of the month. And I sit down and literally run the processes that I teach people, identify anything I need to do, and then do it that week. And I'm done for the month and move on to the next month. And, and that, you know, update— I have a tool called the Wealth Tracker, and hopefully we'll be able to give people access to that free tool. But this Wealth Tracker tracks how we're going.

Mm-hmm.

And so we can update that very quickly, and then we can run the process to see if there's any, any investments we need to make this month. And then we move on. And, you know, I challenge anybody to say they can't find 1 hour a month to secure their financial future.

Yeah, brilliant. And I love the diary, you know, dropping it in the diary. So you're actually creating the habit and you're setting yourself up for success because you're just getting into that habit loop of going through a simple process. That's amazing. Thank you. And I'm going to pick up on a phrase that I know has been on nearly everything that I've seen of yours, which is nothing changes if nothing changes. So let's talk about some of the resistant points or the myths that need busting around how important it is for an individual to take responsibility and the opportunity for their own wealth creation. When clients come to you or they're sort of circling trying to work out, you know, shall I do this, can I do this, they're in that unconfident space, what's coming up for them that you can help them overcome typically?

Look, and this is a great topic to talk about because ultimately there's 2 main buckets of challenges that people will share with us as to why they're not where they want to be with their money and their wealth. And everything that people say as a challenge ultimately will fall under one of these 2 buckets, in my opinion. So the first one is time. So the type of things that we hear is, I don't have time to learn, I don't have time to do any investing, or I'm running out of time.

Hmm.

So there's— that's the time bucket. And then we've got knowledge. And so we've touched on this a few times, but there's overwhelm with all the information that's out there. I don't know what assets to invest in. I don't know how to find the right investments. I don't know if I'm going to make a mistake, or I don't want to lose money. All these types of I could rattle off hundreds of

them.

But they all come back to the fact that people are afraid that they might make a mistake or they might lose their money because of a lack of knowledge. So my program is literally designed to solve the time and the knowledge problem. We've already talked about how I solve the time problem. It only takes an hour a month once you know what you're

doing. Yeah.

And then we solve the knowledge problem by going through a program where I teach people processes, decision-making models, and the tools to use in order to make investment-grade decisions. So the concept of nothing changes if nothing changes comes back to the old procrastination that if you're going to, I guess, rely on those challenges to say, well, it's too hard, I can't do this, then you're not going to do anything. And like I said before, people think of investing maybe once or twice a year when it's like, oh gee, I really should do something about my, you know, buying a property or, you know, buying some stocks or whatever it is. You know, literally nothing changes unless you do something. And that's why it's all about having that monthly habit so that it's not something that you only do once or twice a year. We want to get our money, you know, invested as often as possible for as long as possible. So the 8th wonder of the world, compounding, can do its thing.

I love that. Thank you. Yeah, absolutely. So I'm going to pick up on the running out of time thing, if I may, because from a personality perspective, that's what my driver is. I'm driven by time versus money, but I'm always running out of time. So that's one of my stresses. And as a woman over 50, there's lots of single women that are over 50 that have had significant life changes and that are now being more empowered by society and the things that they're learning and the things that they're doing to be more in control and more aware of these sorts of things. So let's talk about, about that example of it, you know, somebody that's over 50 that's on their own. It could be male or female that are now sort of almost at that restarting point that do have that— it might not be a full awareness fear of running out of time, but you sort of get to a certain age and you know that you sort of are. And let's talk about some of those, if you can talk about some of the clients that are in those situations and what they've been able to do or overcome through working with you. I think that would be a great talking point.

Yeah, look, it's very common in my client base that I've got single women or single men who, you know, have been through that unfortunate life change that, you know, too many people experience. And as a result, they're left with, you know, almost half of what they had. And, you know, minus the legal fees that have gone in there, you know, and eroded a lot of it. So in most cases, we're talking about people who might have an asset, and maybe some cash. As a result of a separation. And They're— and then they're, they're left with some superannuation here in Australia, and maybe overseas they might have some 401s or whatever it might be in terms of retirements. But they've got some assets, and they're kind of looking at their scenario to say, well, I may not be where I was, and I may not be able to get to where I was hoping to be, but I still have something, and I've got a little bit of time to do something about it, and I better get proactive. And so they are some of my favorite clients because they are very much aligned with the fact that they don't have a lot of time to make mistakes or just be slow about going about their investing. They need to be proactive and they need to, they need to get with it. And so we tend to just work with their risk tolerance. And understand where they want to invest their money so that they can put themselves in a better position than what they are today. Whatever timeframe that they've got left in terms of their desire to keep working or running a business or whatever it might be. But it's about just being, again, it's about being proactive and getting whatever resources they have available to them working as hard for them as possible.

Yeah.

So yeah, I generally, when I'm talking to people that are in that 30 to 40 bracket, it's like time's your greatest asset, don't waste it. When I'm talking to the over 50s, it's we don't have a lot of time, but we don't want to do anything silly because we don't have the time to recover from, you know, losses. So we've got to be a little bit more focused on capital preservation, and that sometimes means we're not taking as much risk, and so the returns are not as high, but at the same time, we're still doing something. And that's the key here, is that most people, you know, rather than put their head in the sand, you know, if they can take some action, they'll get a lot further than where they would if they did nothing.

Yeah, absolutely. And I love that you talked about risk analysis. I'm laughing at the same time because I'm going back to my ex-husband and I, and we were like polar opposites. He wasn't a risk-taker and I'm the adventurer, let's just go and take these risks. I suppose that's part of the education process is mitigating those people like me that are fast-paced, want to get stuff done, that do tend to take larger risks and sort of helping to balance that out so they've So they're a little bit more, dare I say, sensible than just gung-ho. Is that part of the education process to understand? That's right.

I mean, let's take the stock market, for example. I teach 3 different layers of risk and return. And so depending on your risk appetite and the amount of time that you've got available, it will depend on whether or not you go in all 3 or only 1 or 2 of those. But the idea is to expose people to what's possible.

Yes.

So they can then decide where they want to be. And, you know, like you being maybe a little bit more adventurous, you might take a little bit more risk, but you're doing it with open eyes rather than, you know, just,

you

know, like I often make the analogy that people get their stock tips from a mate at a barbecue, something they overheard on the way to work, or some guru on a TV show who's giving out stock tips. All 3 are the worst places you can get them from. So in terms of risk, that's really high risk. Having a process and a system to follow to identify where you should put your money, that lowers that risk dramatically.

Yeah, yeah. When you were describing that, it almost sounded like it was a horse bet, you know, bet on this horse type scenario, which is one of the riskiest things.

That's right. You bet on a horse and you can lose 100% of your money.

Yeah, absolutely. I've done that and I owned them as well, so they also eat you out of house and home. I'm going to come back to the outsourcing of wealth creation. And you have a comment when I was— when we've spoken and we've— and I've done some research about How money management can have a 6-figure— if I've got that right— a 6-figure impact on your long-term wealth. So should we open that one up?

That's another can of worms where we might be offending some people, but let's do it anyway.

We like to do that.

Yeah, what I'm talking about there is when you outsource control of your future financial scenario to somebody else. And obviously, if for that privilege, they're going to charge you. And the 6-figure number actually comes from a book written by Tony Robbins. So I mentioned Tony Robbins a lot. I'm not necessarily a fanboy, but some of his stuff obviously is relevant to what I teach because he talks about it a lot. He wrote a book called Unshakeable, and it's 250-odd pages, but the first 92 pages he dedicates to why people should get a financial literacy education and not outsource their money to a financial advisor. And the reason, um, well, he does the maths and he basically says what people overlook is their fees might only be like 1% or 1.5% or even 0.something of a percent, but when you do that as a percentage of the returns they're making for you, it is actually more like 20% of your your gain. And so when you extrapolate that over a period of 20 years or more, the impact on your net worth is over $100,000.

Yeah.

And that's not an insignificant amount of money when you think, well, I'm only paying this person a small amount of money. But realistically, what you're paying them is well over 6 figures.

Yeah.

And so my mantra is that get that financial literacy education and do it yourself. There's another book called Where Are All the Customers' Yachts? And this one really, when I was first referred to this one, this one convinced me that I was on the right path of what I was trying to do. And it's a fable about 2 mates who went to school together in the US. One became a financial advisor on Wall Street and the other one worked out of Wall Street.

Yep.

they caught up for lunch one day and they're walking towards the harbour and the non-financial advisor mate looks out to the harbour and he sees all these yachts and he says to his financial advisor mate, who owns all the yachts? He said, oh, that's the financial advisors. Yeah. So non-financial advisor mate looks at him and says, well, where are all the customers' yachts? And his financial advisor mate looks back at him with a, you know, a bit of a strange look on his face as if to say, what are you talking about? They don't get to own the yachts. It's the advisors that Get to the Only Odds. And that book, even though it's a fable, it reinforces the point I'm making, and that is you need to get a financial literacy education, a small investment upfront to save you a large investment over the rest of your life.

Yeah, well said. Yeah, well said. There's a whole conversation around moral hazard, but we won't go there. It's come out of lots of the different movies, etc., and all the rest of it. So that's good. You've also talked about accumulating investment-grade assets. So can you expand on that in layman's language? What are examples of that? What are clients— what does that mean to a client? And then the outcomes?

Yeah, so like I said earlier, I teach people how to invest in stocks, property, gold, silver, and bonds. Like, they're more defensive assets for protection. But you know, the main ones are property and stocks. And when I say the word investment grade, what that basically means is that they are of the quality that are going to produce the returns that you want to produce. So I'll give you 2 examples. In the stock market, people will quite often just invest in something they've heard might be good. And there's no basis for that decision. And it might end up being good, Or it might not be. That to me is not an investment-grade decision. Investment-grade decision is where you're basing your decision on data, proven results and data. And it's an asset, you know, that is going to produce above-average returns over the long term. And we use the data to do that. The more commonly understood example of what we're talking about here is property investing, where most people will buy their first property investment in the suburb that they live, or at least close to the suburb in which they live. Yeah,

absolutely.

Without any, without any thought about whether or not that location is actually a location that's going to grow in value. Yeah, you're in Australia, you know, obviously we are in love with property and the property market just keeps, keeps on producing results for us. But an investment-grade decision would be doing some research and finding those locations that are going to grow in value at an above average rate compared to one in your suburb or next to your suburb that might just linger for a whole long time.

Yeah.

And not get you the results. So investment grade just means that they've got all the things that are going to produce above average returns. Because if we can produce above average returns, we get to our, you know, desired wealth position a whole lot quicker.

Faster. And isn't that interesting that you're actually— I'm also laughing at myself from a luck perspective. I was very— and I'm going to say lucky because there was no strategy involved in either of these scenarios. I just happened to buy gold at the right time when it was fluctuating, and I was picking it up when it was going up and did some buying and selling back then and some retaining. And my son, we got him to do some— I assume they're going to call them shares. He was really, really— and he was only about 8 or 9, but he was fascinated by a particular toy which I think was brought out by Lego. It might not have been Legos, but it was robots that you put together like Lego, and he was really interested in them. So they were relatively new. of course, they then ended up franchising out into all sorts of different things. But we said to him, if you want to do something, buy something that you're interested in. No strategy. But again, it was luck. It was pure timing that he bought a little bit and it went up in value because they ended up creating other products. But I love what you've talked about versus the Sally version of pure luck. You've got the full story. And having been in property, you sort of look at where the suburbs next to the suburbs which are booming. Again, that's just a luck process. That's just one step. But to have the story behind the story and sort of future pace or plan out or have greater awareness and then look at the data can make such a huge difference to that outcome. just where I am, we've seen this particular suburb, even though there's lots of little suburbs around, has 10x'd in the last 4 years. Yeah. And that was— if somebody had looked at the data with what the government was talking about, where the releases were, or all of the data that you looked at, somebody could have really strategically planned that opportunity for themselves. So I love that you talk about finding the the data and those sorts of things as well.

Yeah.

So, when someone's looking at data, so there's people that love data and there's people that get to appreciate data but don't necessarily like it. So, for those people that are hearing that and they're going, oh, data, cringe, you know, all the rest of it, and knowing that you've got that simple process, what do they need to be aware of when they're looking for that data just so it doesn't doesn't sound daunting or overwhelming.

Yeah, and this I guess comes back to again one of my core success metrics when it comes to growing your wealth, and that's having a system. And using a system that's repeatable to identify the data items that you want to be focusing your attention on. So when it comes, say, to the stock market, Yeah, we're looking at things like the earnings per share or the dividend rate or the price-to-earnings ratio. So I'll give you those 3 as an example. I use 7 metrics, but there's 3 of them that will provide us with some information, both, you know, a backward-looking historical runs-on-the-board perspective and then a forecast. And so you can get that information and say, well, This company has produced these results over the last 12 months. Are they saying they're going to do it again in the next 12 months? And if they are, then that's a tick and you can confidently go and invest in that company.

Yeah.

Same with the property market. You know, we look at things like the last 10 years' worth of growth. So that's runs on the board for that suburb. But then we look at what might drive that growth going forward. So population growth, infrastructure, All those types of things. So there's ways and means to do it. When I first started, when I wanted to go and apply my 7 stock selection criteria, I had to go and look up each individual stock's annual report and manually record the metrics in an Excel spreadsheet. And then 6 months later, when I'd finished, the data would change and I'd have to start again. Yeah. Now there's tools we can use that will do it for us very, very quickly. Same in the property market, you know, they used to have to do research across probably 7 or 8 different websites to get the information. Now there's tools you can use to get that information a lot more readily. And you use that data to inform your decisions. And so you can then know that I made this decision because it did X. And the next time you come to look at a stock or a property, you can say, Last time I made a decision because it did X, I'm going to do X again, and away you go. So it's, it's all about, like I said, it's about repeatable. So as long as you just— if you're applying that same process and decision-making thought process every single time you look at the data, then you don't have to get— emotion doesn't get involved. You don't have to worry about somebody else's opinions, all those types of things. I mean, one of the first things I do with this stock selection criteria tool that we use is we turn off analyst ratings because we don't care what somebody else thinks. We want to know what the data is. We want to know what the data is telling us.

Oh, love that. Can you just repeat that, please?

You want me to repeat it? Yeah, we don't care. We don't care what anybody else thinks about an investment. We let the data tell us the

Yeah, beautiful. Thank you. And yeah, sorry if I interrupted. I'll let you finish and then I've just got something to share.

No, that's— I think I'd finished yet.

Yeah, cool. What I've actually heard through that is obviously from my old school thinking perspective and the data and all of that analysis that I'm sort of a little bit aware of, obviously we're in the day and age that we've got to a lot of those tools actually do a lot of that hard yakka work for you to bring that down. And then with your model and the knowledge that you share with people, it's actually helping them. So they've actually gotten— and right now they've been able to create a number of fast tracks for themselves. The information that you gather from the tools that you use helps them make the right decisions based on your formulation, which enables them to get into the right activity and that repeatable activity very, very easily. So great opportunity for, for people right now to be able to do some magic for themselves.

That's right. And the thing that I love about people when they get to the end of my program is the change in their confidence when it comes to their decision-making and just knowing that they're on the right path. I mean, I had 2 people that are very close to, well, virtually at the end of my program yesterday, just at the end of our second last call as such, and just said, thank you for empowering me to be able to do this myself.

Yeah, love it. So on that note, would you like to walk people through and share a little bit about what your process is as it relates to the customer journey and then how people can get in contact with you?

Okay, yeah, great. It's roughly a 6-month program where we do one-on-one coaching. And I say roughly because the time is not important to me, how long it takes is not important. What is important is you being able to say to me at the end of the program that you can do this for the rest of time. And so we will work with people until they can say yes to the question of, can you do this for the rest of time? And we work through a fairly modularized coaching program that is tailored to everyone's individual circumstances. So we always start out with writing a plan and getting into money management, because I think money management is like the foundations of a house. If the foundations are not sturdy, the house falls over. So we get the money management sorted first. And the good news for those people who hate budgets is I do too. They're like diet— they're great on paper, but they, they are useless when you need them the most. So we've got a system that we teach that automates money management. Then we just move into a block of calls where we teach people stock investing, a block of calls where we teach property investing, overlay that with gold, silver, and bonds. And then we wrap it all up with a map of their strategy and where they are at that point and where they need to be to be financially secure. So they know exactly what they need to do in order to be where they want to be. And then we supplement that One-on-one coaching with 12 months of accountability support so they can check in. I check in once a month, but they can ask me anything they want in that 12-month period. Um, and ultimately, like I said, the outcome that we're trying to achieve is to get people to say this is something that they could do confidently on their own for the rest of time.

Yeah.

And that for me is what success looks like, when they can say yes to that question. And the best way to get in touch with us is through the website, theinvestorsway.com.au. There's a link there to get a free resource, which is my wealth tracker, which is an enormous tool that does a lot of great stuff when it comes to tapping into our money mindset and providing that mechanism to support your journey. And once you get that wealth tracker, You'll also be offered a free call with us. Take that up and we can have a conversation. And if we think we can help you, we'll, we'll talk to you about how that can happen. If we don't, we'll give you as much as we can to help you for now. And hopefully we'll see you down the track when you're in a position to do something.

Yeah, beautiful. Thank you for sharing that. Now, we've still got some time up our sleeve, but I wanted to make sure that we covered that all off so our audience knew what process was and certainly have the opportunity to reach out to you and to get that free resource. Now, the word that jumped out at me, again, when I was bringing you onto the show was that creating generational change. Mm-hmm. And that's a big thing for me from the work that I do with Homes for Homes and the generational change that creates around homelessness. So, from the perspective of the legacy that you're wanting to leave and what you are doing, what does that— I'm going to ask it in 2 ways, and you can either answer both ways or one or the other. What's that generational change going to mean for you? But, and/or, what are you starting to see that change, uh, in your clients that have actually perhaps got that, their second generation coming up seeing their parents doing this?

Oh, that's gonna be

Yeah,

and it does, does a similar reaction on me because I call my program Wealth Generator because it's about generating wealth, but it's also generational wealth. And we talked about it early on where we're not taught financial literacy at school. And my kids are in their 20s now, they're using my system and moving forward, which is great. But I know that kids at school are still not getting taught this stuff.

Yeah.

So when I work with, with people, I encourage them if they've got kids to share, at a minimum, the money management process that I teach so that they can start to form good money habits. And interestingly, when I was writing a chapter for a book last year, I think it was early last year, I was doing some research and discovered that children by the age of 7 have already developed money habits. So it's never too early to start teaching them that, you know, the value of money and all those types of things. But as they start to earn their own money, we want to let them go and spend that first one on whatever they want, their first paycheck, let them do whatever they want with it. But the second one, teach them that it's important to start putting aside for the future, whether it's, you know, 3 years down the track, 5 years down the track, 50 years down the track. You know, my youngest client is now 18. She joined when she was 16. Her parents, you know, brought her into the program. She's got a 5-figure stock portfolio at the age of just turned 18, and her goals are to have, you know, certain things by her 23rd birthday.

Yeah.

And by that stage, she will be well and truly on her way. And, and so that generational aspect Is trying— well, my goal and why I'm so focused on generational change is the statistic that 5% of the population will retire with enough money or assets to support their lifestyle, which means 95% won't. And I want to change that statistic, and the only way we can do it is generationally.

Yeah. That's just given me goosebumps. Yeah, I do remember that statistic and I don't know where from, but many, many years ago. So the shifting of the dial of that 95% versus the 5% hasn't actually changed greatly. And I'm going back probably at least 30 years. So, you know, that's— it's a significant change to come and jump on board.

Sorry just to interrupt, the other scary statistic that came out this year is that 80% of people will have more life at the end of their money.

Yes. Now, yeah, yeah, yeah. That's just a double whammy version of it. I'm going to circle back because I love the generational and what can we do for our kids. Yes, we can set ourselves up, but what can we do with our children? So going back to this young lass that you've mentioned that obviously was young, and so I'm going, but she's young and she probably hasn't been doing a lot of working and all those sorts of things or hasn't been earning a significant income. Can you expand on the opportunities there for the youngsters just starting out with just very small amounts of something?

Yeah, so the first opportunity and the first thing that we did was set her up with a money management system that enabled her to enjoy her youth So there was money for her to do her whatever she wanted to do. We, we got into a habit of putting some money away for bills. Now at that time when we first did it, she didn't actually have any bills. But $20 a week, we were just putting into this account we called bills to get into that habit of knowing that I've got to put money aside for my bills. And then there was other money put aside for investing. Now she couldn't invest every month because she obviously wasn't earning enough to do that. So it was a period of just enabling that money to accumulate so that she could then buy a parcel of shares. And a parcel is roughly $600.

Yeah.

And so she would just accumulate that money and then invest and basically was investing in $1,000 lots. And, you know, she was fortunate enough to have a birthday where she got some cash as well. So she had to put that into the system. And now she's left school and she's doing a trade and earning a little bit more money. And so she's able to add to it a little bit more frequently. But from day one, she's built the habit that she now has. She's got that money that she can live on and do whatever she wants with it. She's got that other money going to pay for her bills. And now she's got a few bills because she's got to get herself to work and she's got to pay for a mobile phone and things like that. So Those types of things are not a problem for her because she just puts that into the bills account and away it goes. And then she just continues to invest when she's got the available funds.

Yeah, beautiful.

And she'll do that for the rest of time.

Yeah.

Because it's the habit that she's already formed from such a young age.

Yeah, what a gift. What a gift. And coming in from that early is creating that generational change, not only from from her parents to her, but for her kids and all the rest of it, it just completely changes the conversations at the dining room table, the limitations that are self-imposed on all those, the level of confidence that is all those differences. I can just only imagine what her life is going to be like with that grounding of that really strong knowledge of self-responsibility and perfect— and not perfect, but really, really good habits.

Yeah, that's right. Yeah, and oh yeah, she's got a very supportive family who are very motivated to make change. And yeah, here she is setting the way, and she's got younger siblings that, you know, they will— she'll be able to pass it on to them. And yeah, generational change, it's happening.

Yeah, that's very, very, very exciting. So we've got a few more We have a few more minutes left in the show. Have we not covered something that you would like to make sure the audience is aware of or needs to know about what you do and how you can assist?

If I was to just give them maybe 3 tips, let's say 3 tips of what they can take from this conversation, the first one is get yourself a financial literacy education. Obviously, if I can help you, I would love to. But get that, that education, and be very mindful in getting that education. Sometimes from some of my younger community members, I'll hear that they can learn all this stuff on YouTube. And my, my retort to that is always that you can also learn to swim on YouTube. But until you dive in the water, you can't swim. And so you can learn a Lots of things on YouTube, that's great. But unless you put it into action, you're getting nowhere. So get that education. The secret to success with money is a system. So make sure that you develop a system or get taught a system on how to grow your wealth effectively. And then finally, we've said it already, but nothing changes if nothing changes. So the number one thing to take away from this call is take action and make it more frequent than what you think is necessary. Monthly is a great way to do it.

And I think I'm going to come back to my one, which is data beats opinions every time. Absolutely. Yeah, that was good. Apparently, we still have a few more minutes left, which is amazing. Amazing. So I'm just going to ask another little question around if you've got a quick story that you can share of an unexpected outcome and where somebody did something, created something, achieved something that they never thought they could.

Yeah, okay, that's bringing something to mind. It's not necessarily an unexpected outcome for me, but it was an unexpected outcome for the client.

Yeah.

And these— this is like a story of somebody or a scenario that I hear a lot. So I've mentioned it already, Australians are in love with property, but they're scared of the stock market.

Yes.

And I had a client who was very knowledgeable that the stock market could produce results, but he was scared of it. And he had invested in a particular exchange-traded fund that was doing okay and were doing quite well because he'd had it for a while. But he was skeptical that he would be able to make decisions and grow his wealth. And I was, I was on a flight home from Melbourne last week. I was filming my TV show on Thursday last week. And I got a Facebook message from him telling me that his stock portfolio had grown by over $15,000 in the time that we'd been working together. And that is multiples of my fee for the coaching program. But it had grown by over $15,000. I haven't quite done the percentage yet, but I know it's a double-digit percentage in 5 5 months.

In 5 months. Oh my gosh. Yeah.

And the simple message he basically said was, I didn't believe I could do this. Thank you for giving me the confidence to be able to do this myself.

Yeah.

And that's just one example of people who quite often come into my world and they're scared of one particular asset. And yeah, we teach them how to overcome that fear.

And I think if I recap it throughout our conversation and everything that I'm aware of and know of you, is that element of people not thinking that they can do it and then being provided with the right tools to make it easier, the right system for them to follow and create the right habits. And dare I say, they create their own magic because of their consistency. consistency in the habits and the knowledge in which you've actually shared with them. So they actually create— are creating their own goosebump moments of what— of the outcomes that they're creating. Oh yeah, that's amazing.

And imagine how much taller they walk around the street knowing that they've got that confidence now. Like, they grow an inch because they have that confidence that they are not only on the path to where they want to be, but they're the ones driving the Driving the path,

so to speak. Yeah,

that's right.

Yeah, yeah, yeah. So that comes back to the very— one of the very first words that you said, which about what you do, which is creating that confidence with remarkable outcomes. So thank you very, very much, Andrew, sharing so much with you. It's been a pleasure talking to you, and I do encourage everybody to jump onto Andrew's website Um, and download the money management— have I got that right?

The Wealth Tracker.

The Wealth Tracker, sorry, the Wealth Tracker, uh, to kickstart, uh, your opportunity. And certainly do take the chance— time to reach out to Andrew and see what goosebumps you can create for yourself with a simple system and some very, uh, simple habits that you can do for yourself on a monthly basis. So thank you. Any closing comments from you, Andrew, as we

Thank you for the opportunity to share, um, the story and the financial literacy message, and I hope people got something from it.

Yeah, thank you so much. Absolutely. Um, thank you again, Andrew, and we will look forward to seeing you all again on another episode of Success Secrets Exposed. Till then, take care. See ya.

Bye.

Remember, if you want to be sought after and sold out as well as being known as the obvious expert in your industry, you need to speak with Sally, our host of Success Secrets Exposed. Sally is the founder of Monetize Your Content, a done-for-you content marketing agency that helps you be easy to buy. See you next week on another episode of Success Secrets Exposed. Tune in live every Tuesday at 7 PM Eastern Time or Wednesday mornings in Australia on W 4CY Radio and Talk 4 TV.