What exactly is WealthCLOCK®?:
Technically Speaking: It is a running calculation that starts by summing up your Total Net Worth, and then using the WealthSPEED®’s hourly rate value, it moves your Wealth, in the direction of your WealthSPEED® in real-time.
Very Cool, right?
Why did we produce the concepts of WealthSPEED® and WealthCLOCK®?
Traditional Financial reporting tools are often static insights – Here are your income, expenses, liabilities and a sum of your assets. Whoop-de-do, they don’t really give you any clues on what is working for you or not, nor any clues on how to move forward.
As professional advisors in the financial, property and wealth creation space, it became strikingly clear to us that many households had limited insights into how their wealth and future retirement plans were tracking. This meant many were surprisingly disappointed, even shocked, when presented with their current forecasts or projections.
They simply weren’t aware or prepared for the potential forced change, having to adjust spending and lifestyle expectations because they didn’t build enough wealth to adequately replace their working incomes in time for retirement.
What’s even more concerning was, these were people who sought out professional help. In reality, the vast majority of Australians don’t seek help, so the size and challenge of this problem remain a significant and mainstream challenge.
From my team’s and I’s perspective, we couldn’t let this just happen on our watch. This presented us with a huge challenge which has transformed into a mission to help more Australians achieve financial independence.
Creating and building WealthSPEED® and WealthCLOCK® into the Moorr® platform is an essential part of that mission. For us, we are now driven on this mission to play a helping hand. These ‘Next Generation’ financial instruments are forward-looking and help you to see where you are at right now and the pathway ahead.
Learn More about why we produce these two concepts here >
To learn more about WealthSPEED, WealthCLOCK and more reports on our WealthDashboard, please click here or go to www.moorr.com.au/WealthDashboard