Questions: How did we get to WealthSPEED and WealthCLOCK?
With such an intimate knowledge of the issue, we assessed the problem as this – How do you help people fix a problem that so many of them don’t realise they have, until it’s too late?
Money management, financials, investing; these are all moving parts with many components to understand from certain scenarios to possible impacts.
It is complex and many people find it painful, so they avoid it or put it off. This is the worst thing you can do. We all need to know the facts, and those facts need to be shared in a simple and understandable way.
So, I drew my initial inspiration from the US Debt clock, which is displayed in Manhattan, New York, as it demonstrates a simple, yet effective way to get an especially important financial message across to a mainstream audience.
The next phase of inspiration was from within my team and has been part of the narrative within our business and what we share on The Property Couch podcast and within our best-selling books. To better explain this, I’m going to use one of our often-used analogies of driving your car. (I’m going to pick up on this analogy in more detail later, but for now I am going to keep them directed at WealthSPEED® and WealthCLOCK®).
I want you to visualise driving your wealth creation car. Your eventual destination is Financial Peace. When you look at your car’s dashboard you see a Speedometer which tells you how fast or slow you are going. This is your WealthSPEED®. The faster the speed, the quicker you get to your destination, the slower you go, the slower you get to your destination. Makes sense right!
Next to your WealthSPEED® speedometer, is your Odometer, which measures the distance you have travelled over time. This is your WealthCLOCK®, which is measuring your wealth building up over time. The bigger this reading is, the closer you are to your finance peace destination, the smaller this amount, the further you are from this destination.
These two dashboard instruments tell you a lot about where you are at now, and how fast you are going to get to your destination. Just like in real cars there are lots of mechanical parts and essential requirements that help your car operate. And in the case of WealthSPEED® and WealthCLOCK® we have created certain indicators and gauges which help relay information back to these two central dashboard instruments. In this page, I am going to explain these supporting indicators and gauges in more detail, but the key message here is: How quick are you going and where are you right now on this journey?
Translating this into the practical application of WealthSPEED® and WealthCLOCK®, you now have a couple of ‘Next Generation’ financial tools within the Moorr® platform that you can immediately put to work for you.