Did you know there is a hidden village in Wales called Ccrll, where every person is living a wealthy life in total happiness, at peace with themselves and each other?
Ok, you probably didn’t because I’ve completely made it up, but CCRLL is an important acronym which will take you on a journey towards that hypothetical Welsh paradise.
In this podcast I am going to introduce you to the five principles that will lead to a wealthy life – C.C.R.L.L. – which I will break down in depth over the next five episodes.
Understanding these five principles will help empower you to create the life you want. They provide the rigid flexibility you need to be financially resilient in an unpredictable world, and ensure you build the life and future you want.
Links & Resources:
Highlights from this episode:
(01:40) How much time do you have?
(04:31) Clarity and Control
(09:59) Resources and Leverage
(11:59) Legacy
Has this podcast started you thinking about what A Wealthy Life might look and feel like for you? Why not spend another 3 minutes and take my online audit called Readiness to Retire Wealthy based on the five principles discussed in The Wealthy Retirement Plan book and episodes of this podcast? The assessment provides you with a personal score and report to help you take back control of your financial future – something business owners and employees both forget – but for different reasons.
Https://VickiWusche.com/Scorecard/
Connect with Vicki:
Visit my website to learn more
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Browse Books by Vicki:
Using Other People’s Money: How to invest in property 4th edition
Make More Money from Property: From investor thinking to a business mindset 2nd Edition
Property for the Next Generation: Securing your future in uncertain times 2nd Edition
The New Estate: Insights from the 22nd century
The Wealthy Retirement Plan: A revolutionary guide to living the rest of your in style
Or read the following Ebooks on VickiWusche.com:
9 Critical Property Principles
The De-Job Yourself Manual: Break your reliance on a monthly wage
The Values Manual: Understand what your values are and how they can be key to a successful business
The Goal Setting Manual: Create meaningful and practical goals then achieve them
Ep 009 Transcript – Introduction to the Five Principles of a Wealthy Life
Hello and welcome. In this episode, entitled “An Introduction to the Five Principles That Will Lead You to a Wealthy Life,” I really want to just sell you the five next episodes. I want you to understand why these five principles are both so easy to follow, to understand, but also so easy to miss and to forget. I want you to understand how thinking about these five things will literally give you the power to create the life you want.
These principles are going to provide that framework. And you know how I love “rigid flexibility”. So, they are going to provide you with the rigid flexibility that you need to create financial resilience.
Financial resilience is the ability to flex when the environment around us changes unexpectedly. That can be through health, through family circumstances, it can be through job loss, it could be through something going on in the economy, which we have no Control over. And it just happens to us. It can also be as a result of errors in thinking that you’ve made, but with financial resilience, you can bounce back through all of that. It’s also going to give you the time and the income to enable you to follow your passion and live a wealthy life; however that looks for you, whatever that means for you.
How Much Time do You Have?
And it’s really important to note that it’s the time and the money. What I’m suggesting to you is not a life that is based on the size of your bank account. It’s not how much money you’ve got. It’s actually the other way round, it’s how much time have you got?
How much time do you spend doing what you love? I think I’ve mentioned this in previous episodes, I work roughly a three-day week. I work no more than 10 months of the year. I have a wall planner, and I will tell you more about this, and I prioritize my time above everything else. Because it’s the quality of my life that is so important.
The quality of my life is what’s going to make it feel like I have had a long and full and fun and adventurous and wonderful life. And that’s what I want for you. However, if you don’t have money in your bank account, then it is very difficult in our society to function. And so that’s why you need time and money together. But time, for me, comes first because when you know what you want your life to be like, when you’re passionate about what you want your life to be like, that gives you all the motivation you need to then go and create the money that you need to live the life that you want.
So, I worked so hard to come up with a clever acronym, and after weeks and weeks and weeks trying to name the five principles, and they’re very clever, so let’s come up with a word around money.
Is it profit? No. Could I make it fit the word wealth? Of course that obviously already has six letters. Maybe I’ll make six principles. What about money? Because that’s got five letters. I couldn’t do it at all. So, I came up with “CCRLL”, an unknown, undiscovered Welsh village that is full of people living a wealthy life!
And, of course, I’m telling stories. Absolutely there is no village called “CCRLL” but, I thought because my acronym–rubbish acronym that it is–but my acronym has got no vowels and two Ls that it was perfect for it to be a Welsh village.
So, the point is we’re going to take you through very briefly C-C-R-L-L and explain why you need to listen to the next five episodes that are going to take each one of these principles in detail, break them down and give you exercises to follow. And of course, somewhere hidden in these episodes is going to be the link to the Audit, and the Audit will help you measure yourself against these principles.
Clarity and Control
So, let’s start off with the two Cs. They sort of go together because they are the time and the money. So, the first C is “Clarity”, and the second C is “Control.” And Clarity is picking up on the point from the previous episode, when I was describing how I managed to retire at 48.
It was that combination of being clear about what I wanted my life to be like, and then making sure that I could generate an income–not work, you see how I’m using the language differently, it could be work–but how I can generate an income that will enable me to live the life I want. And what this does is that it pushes at the boundaries of the way that we are brought up through school.
I’m not going to do a huge school knocking thing, you’ll hear that enough times in my videos and my podcasts, but we are following a pattern from our ancestors. We do things because the way they’ve always been done, and we don’t need to do that anymore. The pace of acceleration, just within the span of the last couple of decades is absolutely astronomical.
And I believe during the first two years of COVID, again, the impact and the speed of change, for example, in the retail market has been astronomical. The acceleration in growth of businesses like Uber Eats and Just Eat, and those companies that deliver food parcels to your home, those businesses grew exponentially because of a change in the environment.
The move towards online shopping exponentially changed. And look at how many of us now buy with credit cards because there was a whole business of not using cash anymore. So, these paces change. Sometimes they’re influenced from outside and sometimes the pace of change is just there. It’s coming anyway.
And so, change is coming at this speed. Why are we doing things that were relevant to our grandparents and our parents? Having said that, there are some things that our parents and our grandparents did that were very sensible. They didn’t buy a lot of unnecessary stuff on credit. They were very conscious about their money.
I remember—and I’m may have told you this story before—but, when we used to go away on holiday, my father was Italian so we would always go away to Italy or the original Yugoslavia, now Croatia, for our summer holidays for two weeks. And we would mostly drive. I don’t know why we drove. I don’t know whether that was cheaper or whether it just gave us the car and the flexibility to do the things we want.
I think it was probably that we would pack the car full of stuff and we would drive off across Europe, always stopping in Venice to see my aunt and then going around to Croatia afterwards. And those holidays were marked by my mum starting to add things to the shopping every week in the buildup to the holiday.
So, I remember when we were young, we would get things like new vests and new pants and a new bikini or something to go on holiday with, but she’d also stock up on food items because we would often go self-catering. So, then we could go out for our evening meals, but we will be able to have breakfast and make lunch in our rooms.
And it would all get lined up in this room, this little pack. And as I’m sitting here recording with you now, here I am about to go on holiday. I’m at my sister’s house. She’s also about to go on holiday and we have both got little piles of things lined up that we’re going to take away with us. And unusually in her little pile is Salad Cream and Marmite, but I think they’re probably a gift for the friend that she’s staying with.
So, Clarity and Control is about focusing on what you want and making sure that you have the time and the money to live the life. And some of the things that our parents did in the past were about that level of planning. If they wanted to go on holiday, my parents saved up the money and they added a little bit to the shopping list every week.
And they then had the items that they wanted when we were ready to go away on holiday at the start of the school holidays in July. They didn’t get to July and then take out a credit card, buy everything that they needed then, go away on holiday (probably also paid for on a credit card), and then come back after the holiday and not have the money to clear the debt. So, then the holiday’s cost more because it’s costing interest and then pay it down afterwards if that’s what you do.
The number of people I speak to that have vast amounts of money on interest-bearing credit cards. If you pay attention to Clarity and Control in the next two episodes, when I speak to you about them, you’re going to change the way you think about money. Money is a tool. Money is something that you need to value so that you pay attention to it, so you use it in the right way. So that’s the next two episodes that are coming up.
Resources and Leverage
Principles three and four are Resources and Leverage, and they also go together. So, where Clarity and Control really form the foundations, Resources and Leverage are the bits that are very unique to every individual.
We all need focus. We’ve all got money in there. We all need to Control our money. Everybody needs that. So that’s why that’s the foundation. But Resources and Leverage are very personalised. So, a lot of it can be around your mindset, how you see your life. Is it half full, half empty? Do you feel that you have resources?
Do you feel that you can access resources? And what I want to do in that episode is really get you to rethink that and to make sure that you are aware of the resources and the assets you have.
And then Leverage is very much about a very specific skill that I believe all successful people understand. And it’s when to use an outside force or source to add energy–I’m going to use the word energy–to add energy to what you want to achieve. So, if you want to move the boulder, you would stick a lever under the boulder and you would lever it up onto something else. And that would give you the energy to move the boulder.
If you want to make your money work for you, you would lever Leverage with potentially a loan, or in the property case with a mortgage. So, one is really about Resources and mindset and checking your life and listing your life and seeing your life differently. And starting to recognise where the opportunities are. And Leverage, as an episode, is going to be very much about the skill of how you can make the most of those resources once you identify them.
Legacy
And then the last of the principles is Legacy, and this is where you really take the first principle of Clarity, which is very much about you, your future, where you want to see your future. And start to think it in a wider, more outside of yourself sense.
What impact do you want to leave behind you? What Legacy do you want to leave behind you–for your family, for your community, maybe for your planet? What are you passionate about and how do you want this life to evolve, to shape? What do you want to be remembered by?
And this isn’t really from an egotistical point of view, although you could think of it from the point of ego. So, I want to be remembered. I want a statue put up to me because I was so great. It’s not bad. You’ve lived a life. You’re living a life.
When you come to the end, do you want to have left an impression? And what impression do you want to have left? It’s almost like–I suppose there’s still a smattering of ego in here–what do you want them to say about you when you’ve gone?
Yes, it would be nice if they all said you were lovely. You were such a nice person. Maybe you were kind, maybe you were generous. But what about if they say “oh, my goodness so-and-so was so passionate about” [insert what you’re passionate about]—art. “I’ve bought one of their paintings and it’s hanging on my wall. And I look at that and I always think of them fondly”.
Or, “they were so amazing at sport. They really helped my son, or my daughter achieve such and such with their coaching that they did at the weekend.” Or “they were so passionate about the planet–plastic, trees, homelessness.” Anything else that you want. “They’ve made a real difference.”
Or “they’re so passionate about the community. I know that they have helped a lot of people in our village or in our town.” They introduced the book bank in the old phone box, or they–as one woman in our village amazingly has done–raised money to put around defibrillators all over the village that have saved people’s lives.
Gosh, can you imagine that, that your passion–because of circumstances that happened to her, she decided that she wanted to make sure that everybody had access to a defibrillator if there was ever a dreadful situation where somebody had a heart attack.
Her commitment, her passion alongside the rest of her life has been to raise money for these defibrillators and get them put around in the village, and they have already saved lives. Isn’t that a wonderful thing to leave behind you as a legacy?
And it could be quite frankly, that when we get to Legacy, you’re not interested. You’re just here and you’re just in the moment, but I want to share that idea with you because I do believe there comes a point in your life where you start to think about what impact you would like to leave. And I don’t know that it’s necessarily age-related.
I think it is a moment that happens to you that makes you then go: “I am great here. I’ve got a great life, but I’d also like to do more or be more than this.” And so that’s maybe a seed for later for one or two of you. But I think that you are going to find that Legacy is a really powerful one.
The Five Principles as One
And what happens is, when you’ve done that–do you remember how I said that Clarity is the point where you focus forward? I spoke about that in the last episode. You focus forward and then that focus sharpens and crispens when you read through and listen to and do the exercises in the Legacy episode in a few episodes time, that focus is going to have a moment of sharpening and that’s really going to then feeds back around.
And you can see these five principles as a circle, because as Legacy helps you sharpen your focus, your Clarity is stronger and that infuses you, enthuses you to be more in Control of your money because you understand how controlling your money is going to give you the time that will help you have the Legacy that you want.
And then you’re going to also, because your mindset is shifting, go back around and look at your Resources, and you’ll see more opportunities. And then the more opportunities you see, the more times you’ll notice incidences of Leverage in action. So, it becomes a complete loop for you.
That’s all I’m going to say, because I want you to go ahead, and I want you to listen to the next five episodes as they come along. You already know about the Listener’s Fan Club, and the link to join the fan club is down at the bottom in the show notes of this podcast.
And today’s action point is to ponder on this idea: “What would your life be like if you lived in that undiscovered Welsh town called CCRLL? You’re living your wealthy life. You’re with people who you love and care about, who love and care about you and you are doing what matters to you most. What is that village like, what is your life like?” And then I’d like you to take out your diary and make a note for the next five Thursdays in a row, and make sure that you master these principles, that you understand them.
You apply them as is relevant to you in your life now but have them central all the way along and each one will become stronger when the time is right. So, I hope that I have moved from fertilising the landscape of your mind in the last episode and now what we’re doing is laying out that planting plan.
And what I really want you to do is to get your wellies and your gloves ready for the next few episodes as we’re going to spend time on Clarity, Control, Resources, Leverage, and Legacy, and planting those seeds ready for your Wealthy Life. And you won’t even have to move to CCRLL to live it anymore. So, you make sure you’re subscribed to the podcast, please, and don’t miss out on next week’s episode.
I’m going to start explaining Clarity, and how Clarity in your plan will help you achieve your wealthy life even easier. And thank you again so much for your precious time listening to a Wealthy Life Podcast. My name is Vicki Wusche, and I hope that this episode has brought some much-needed Whoosh into your life.
You’ve been listening to Vicki Wusche, wealth strategist, author, and property investor. With a name like Wusche, spelt W-U-S-C-H-E, I’m easy to find on all the usual social media channels; do come and connect.
Been loving the podcast? Then join the Listener Fan Club where I will share extra insights and host webinars. Links to this and more of my story are both in the show notes. And on my website, vickiwusche.com. See you on the next episode.