WT Legacy Service @11am - September 19, 2021 #WTOnline

a little bit different so we're gonna have praise and worship and by 11 15 11 20 on the dot we are going to start our legacy seminar so i want to invite everyone who is online and those who may be in church to just get ready um this is going to be a wonderful time i hope many of you have downloaded slider or stuff like that i'm sure they will be monitoring on youtube and probably instagram and see what questions that you have but it's going to be a a a life-changing event today we want to just put this once every year we always try to do this so that it sets us up for what god has for us and what god will continue to do in our lives and secondly it's also important that we bring order into our lives and so we believe in the name of jesus that today lives will be shaped dreams will be fulfilled and success will be guaranteed in jesus name i want to encourage you to just invite someone they may say no but tell them log on because something is going to happen today it's not the normal service it's just a service where we come in and we have some panels that will be talking to us and throwing down nuggets that i hope you will follow and also the beginning of a new team in worship tabernacle can we bow our heads and let's close our eyes wherever you are right now and if you're in church can i just crave your indulgence to stand while we go into our service father we so much thank you and bless you for this morning bible says this is the day the lord has made we will rejoice and be glad in it we want to thank you because you are our god and our king we want to praise you because there is no other god like our god wherever you are at home i want you to start to glorify the name of the lord don't wait for the praise and worship t just lift your hands in adoration and thanksgiving unto god put down the cooking put down anything that will cause distraction tell yourself that i'm coming into the house of god and the house of god is your habitation right now i want you to shut every distraction down put down the phone right now uh put down on the your social media right now and say god i'm coming into your presence and always say to yourself what i won't be able to do in church i won't do at home i'm setting this apart this time apart for god that as i enter his courts i will give a sacrifice of thanksgiving and praise this we believe and so it shall be and i want the church and those who are online to say aloud amen amen hallelujah hallelujah hallelujah let us sing a worship to the king of kings let's just send up our praise set up our worship lift your voice as we give god the glory and praise i'm so happy to be in the house of the lord to see everyone smiling faces i haven't seen a few you've been a while turn to your neighbor say welcome tell your other neighbors say welcome put a smile on your face because we're going to give god glory we're going to welcome you into this place oh god we're going to welcome you into this place and sing of your praises hallelujah lord we give you glory lord we give you praise oh god cause we give you glory love [Music] we give you praise oh god lift that up and worship and say yeah we give you glory lord thank you god for your grace and mercy we give you praise oh god the lord is my light of salvation and who shall i fear and whom shall i be afraid the lord is my line of salvation whom shall life be and whom shall i be afraid and i will wait on you who wants to wear the lord today and i will trust in you lord i will trust in you god thank you god and i will trust in you the lord is is [Music] [Music] yes [Music] i will remain i will remain confident in this i will see the goodness of the lord [Music] i will remain i will repay [Music] [Music] [Music] who shall you be afraid [Music] god [Music] [Music] one more time [Music] [Music] [Music] we set out on you we set up on your love we set up on the one who is the everlasting god you are the everlasting god we said i hope on you we said i hope we said i hope when he said i hope we said [Music] [Music] who is the evil [Music] [Music] we [Music] who is he who is [Music] we lifted up [Music] [Music] i will remain confident in this i will [Music] [Music] how many of you are confident in the king of kings and lord of lords just lift up your hands wherever you may be this week has been a week where god has continued to show that he's a provider in my life and in my family so this worship is for you king of kings lord and i pray that it touches you lord i pray that it touches your home and you remember who is the provider in your house who is your provider in your life in your health because god you are the king of kings so we lift that up and worship we say thank you god for being the provider thank you god for being the provider yes because of who you are i give you glory yes god because of who you are i give you praise hallelujah because of who you are i will leave my voice and say lord i worship you because of who you are is that someone's worship today cause lord i worship you because of who you are help me save you because of who you [Music] you are because of who you are [Music] because of who you are [Music] you are [Music] oh [Music] [Music] [Music] oh [Music] lord i worship you lord i worship you because of who you are [Music] [Music] my [Music] lord i worship you because of who you are [Music] [Applause] lord we worship you [Music] because you are [Music] more more than enough you are more more more than enough you are more more more than enough you are more than enough for can we just lift that up say you are more [Music] [Music] so much [Music] [Music] cause you're so incredible supernatural yes that's who you are you're so incredible supernatural that's so so incredible so incredible supernatural [Music] [Music] so incredible oh cause you're always enough always enough you're burning it up lift it up you're always enough already you're always [Music] [Music] you're always [Music] you are one more time [Music] [Applause] [Music] who are you [Music] [Music] we give you glory and honor and place we worship your name god we glorify your name you are more than enough our fallen omega the beginning of the end the god who created us the one who provided for us the one who beat us our god and our king you were more than enough we glorify your name because you're more than enough for us so god this morning as a church we bring a sacrifice of praise and thanksgiving unto you this morning because our god is an awesome god and so we give you glory honor and praise and i want the judge to say it loud amen amen come and shout another loud amen amen we want one to look at each other and just welcome them into the house of the lord mighty god and give god praise and glory and honor in the name of jesus we glorify your name amen today is a bit of a difference you may be seated in the presence of god if you're watching me from home we are ready to go into our seminar we are going to have a wonderful time in the presence of god we can start to we'll set up the scenes and uh while we do that i started last week by talking about order and one of the biggest places in our lives where there is total disorder is basically with our finances and one of the things that i have found out is that and i was sharing with the uh with the with with the team this morning was there has been like uh two of two different places or areas in my life where there was a financial intervention physical financial intervention i know you pray a lot but there was a physical financial intervention and if there wasn't that intervention i don't know where my finances would be today so i'm gonna ask you to settle down right now whether you're in church whether you are home and i want you to start to experience what god is going to produce here they will give you informations about how to use slido and how to use all that kind of stuff and how to ask your questions if you have questions and we're just going to sit down and just going to hear how we can bring order into our finances and order into our lives uh yeah you can set it up guys this is fine and uh those who are home i want you also to participate this is not a this is not a place where you're just sitting down or just uh this is just a place where i want you to receive something from the lord and i believe that god will bless you in jesus name so at this moment i'm going to invite uh the team up i'm going to invite you in michonne veronia jax all to come up come on church give them a good round of applause and i will hand over to them [Applause] [Music] good morning church can you hear me good morning so we are wt legacy we are a team that have been introduced into worship tabernacle to shape finances so i'll give you a rundown of what's going to happen today today is going to be almost like a panel style question and answers kind of set up we will answer some hot topic questions between ourselves and then we want to make it as interactive as possible so there will be occasions where our arcs for people to raise hands if you agree with certain things you can ask some questions which we will tackle at the end and if there's anything that we don't cover then we will let you know about the course that we have to run for you but let me introduce our team so we have jax who i'll give everyone the opportunity to introduce themselves just say your name and what you do yeah so um my name is jax or jack is a french name some people know me i can see the audience i'm recognizing so many faces my day job my nine to five i work as an investment manager i've been in the investment management industry for about eight years so that's why i do my day job and i decide from that i run a financial education and investment guidance organization where i help the average person start their investment journey and kind of hand hold their hands in that whole journey so that's me yeah go for it hi everyone my name is veronia um so in terms of my sort of day job i actually work in human resources i don't actually have a financial background at all at uni i studied sports so the reason why i actually wanted to talk about personal finances is for me to show that you don't have to come from a financial industry for you to work on your personal finances and i think i've just sort of gone on a journey where i really enjoy it and i just like to teach other people what i've basically learned and so i'm also a money coach by night that i like to say so i also help people with their own personal finances just really going from paying off their debt getting an emergency fund starting to save and then starting to invest as well hi church my name is sean um i historically like jax worked in the investment management industry so buying stocks and shares for corporations and high net worth individuals more recently my wife and i set up a company five years back and we are property developers based in essex so that's some risk i'm sure we'll say more after yeah and my name is yemi ajala i am a chartered accountant fellow member with the acca and i'm a financial supremo okay so um because you know um what we are doing is something that we hope to impact and change lives um we relate everything in terms of what we will now give after our time so proverbs 13 22 says a good man leaves an inheritance to his children's children and it's very important that we don't think for ourselves and we think for the generations to come after us and then after and then after so at wt legacy we seek to help practically shape the finances of members through financial education events networks we aim to encourage financial prudence and wealth creation with a purpose it is our prayer that with that we all leave a legacy to generations to come and more importantly support kingdom objectives so we'll get straight into it the first question that we've targeted as a hot topic is why are so many people in debt and have you been in debt or how have you been in there and how did you come out of it so i think the first person i would like to target to answer this question will be vironia yeah i think it's always an interesting question i think for me it's almost as if it's now become the norm in our society to be in debt and essentially our economy is kind of fueled by debt so the more you're likely to spend the more likely businesses are going to end up making money and then the more businesses make money they obviously want to invest in themselves they want to grow and then more people will start to get jobs people get jobs they get more money and they end up spending that money they end up getting a bigger house for example maybe they take out a loan for a car so for me i think it's almost as if it's normal for us to be in debt but it's something where we also need to be really careful and i've been in debt myself so i'm not one of those people where i'm like oh i've never been in debt i've been in 16 000 worth of debt and i had an overdraft and i also had a car loan but i essentially paid it off because i realized that i was essentially giving the lenders more money than i should be so instead of me being able to have that money for myself i was giving it to other people and i almost kind of went back to i think it's proverbs 22 7 where it says um the borough is slave to the lender and as soon as i sort of read that verse i realized that actually i should not be giving my money to all of these lenders i should essentially be giving the money to god and then also to myself as well so yeah i think that's that's sort of basically my story i don't know if anyone else had any thoughts on on being in debt yeah maybe i can add just kind of theoretically you know i think one of the reasons also is i think pastor femi was talking about it during the week we don't have i think a great appreciation for sea time and harvest time you know many of us are in the investment phase of our lives and unfortunately we're exposed to so much media traditional social which tells us and and the loop that we see all the time on all these different media is you know the harvest time of you know rich people emma reddick i remember the tennis player we can all see the fact that this this 18 year old has just won two million dollars she's you know in the media all we can see is the hundreds of millions she's likely to make over time but what we don't see is what she was doing at the age of five at the age of six and seven missing birthday parties you know not building the relationships with friends and all that sort of thing and we are you know all of us many of us it's not our age but are in that sea time of our lives and we we're really kind of like looking at all those successful people and it's causing envy it's called not causing us to want to buy things we can't afford you know with money we don't have to impress people we don't like know or care about and i think that's probably something we need to just think about a bit more hardly so um yeah no my encouragement i'll give a quick example about myself actually sorry i know yeah you want to stop me but i think i'll talk about staying in your lane um when i was working in the investment management industry we were all making the same salary which is a good salary and all my colleagues used to say to me i lived in an area called dagenham anybody know dagenham yes it's not the best area in the world right but i lived there in a single room up until i got married to my wife which is 29 years of age and i owned this home i owned it but i lived in one room and i rented all the other rooms out and they'd always ask me my colleagues they used to live in places like pimlico and i don't know think of a central under kensington fulham but i decided i knew what my lane was i knew that where god was taking me and i knew i was in my seat time my investment phase of my life so i decided i'm going to stay there stay put and i was able over that time to acquire assets property and all those sorts of things and it meant last year i was able to leave my work full-time and when i did leave they asked the question how did you do it and i was like i make the same amount as you all make but i understood this is my lane i don't need to focus on what everybody else is doing so so that's my encouragement that we also all need to just like like horses literally have blinkers on because the minute you take the blinkers off you look to your left you look to your right and your average speed you know reduces i think we all need to start looking straight ahead and press towards like paul says the price but anyway so that'll be the summary [Applause] thank you for that show so being interactive we're now going to go to slido so if you haven't you can download the app slido s-l-i-d-o wtlegacy21 and i believe we have our first question if the team could put it up on the screen um the poll not the q a sorry here we go so how much does the typical amount of life insurance cost in the uk so if you could all kindly there we go just have a go at it i don't know whether you want to do a countdown [Music] cool all right so waiting for the last few question answers to come in okay so cool so we'll move on now the answer is actually the first one i don't know whether we've got that but the answer is actually 30 pound and 40 pence um that the typical insurance covers how do we feel about that our architects involve you in a conversation yeah um life insurance is something that normally people actually speak about mainly because they don't understand it but essentially it is a form of risk transfer and you know one of the things that you know we just spoke about the um the passage about leaving a legacy for your children and that kind of stuff and one of the best ways to do that is through insurance um there's actually a term called assurance which means you know it's insurance for things like death there's you know two things that they say you're going to pay taxes and you're going to die unfortunately it's not a pleasant conversation to have a lot of time but what happens if you are the breadwinner of your family you know you're paying the mortgage and very unfortunately something happens what happens to your family that's where life insurance comes in it comes in to pay a somewhere short which is a certain amount to cover these expenses and so for me life insurance especially something that's extremely important especially if you have children perfect thank you jax and then what would you say the different kind of life insurances or insurances are available yeah just briefly there are three types the first is decreasing term and that tends to be type of insurance policy you use when you are purchasing you own a property and you're paying it down over time so you have a repayment mortgage so if anything go for bid should happen in that period your mortgage is paid there's also level term insurance which is the same value of insurance over time so wherever whenever it's used that amount will be paid out this can be used for mortgages where for example it's interest only which we don't recommend by the way but it's you know where the debt is going to be the exact same throughout the term 20 30 years and the third key type is whole of life insurance which is more expensive typically but it's at any point of your life you can call upon that insurance or your beneficiaries can call upon it to use it um it's very important also to consider critical illness so on all of those insurance types you can get critical honest insurance critical illness is obviously you know what it says on the tin if god forbid anything should happen in terms of an illness which is which can't be treated like cancer whatever it might be a payment is made um and shall i stop there or any more i was just going to add something as well particularly with the whole of life policy absolutely you're correct it is expensive but it's i think a cheat code that many people haven't identified in life so let me run some numbers because that's my thing um let's say a policy is 150 pounds a month and you're 30 years old god willing you live to 100 years your total premiums across 70 years 126 000. if that policy pays out for 200 000 that means whoever comes after you profits essentially 74k now there are ways in which once you join wt legacy we will you know teach you make the necessary referrals of how you can now protect that money in terms of setting up trust making sure that your beneficiaries are your children and your god children and nieces and nephews have that money trip fed to them so it's not going to increase the inheritance tax liability that anyone will have and for any families in wt um you have that you should hopefully make use of one million pounds worth of um free iht so that means one million pound worth of net assets via your nail rate band your spouse's no weight band and linear descendants is something that you can make use of but again if you want to know more about that please join us yeah um so we'll go to the next question on the poll um please can i ask can you explain that better about hit or what what you were talking about oh inheriting sex yes inheritance tax is the tax that's paid upon death so as jax mentioned death is guaranteed unfortunately quite a morbid subject but one of the things that we have to be mindful of is that if we don't make the necessary plans the money will go to the crown the government automatically sees all the money so if you don't have a will that directs your assets if you don't have trust that protects your assets and pays it out to the beneficiaries appointing trustees it's a waste so anything that you're working for is just going to be wasted so it's very important that as we are working hard we put things in place to protect our money for the generations to come yeah cool it's another question of course yeah what is the because as a pastor i've sat down with many uh people in uh ethnicity how bad is this lack of insurance in our ethnicity i think cheon's got a statistic yeah well so the the average in the uk is one in two people don't have insurance they don't br one in two people so 50 people don't have any insurance at all and for our ethnicity they don't i don't have the exact stat but it's lower um in in the you know ethnic minorities so it's not it's not great so it just means that many people are exposed to god forbid you know the liabilities and are instead of leaving inheritance or leaving debt for the generations to come because they don't have these things i wonder if that's the next question on our poll um because i do believe we have the stats on there yeah there we go so this is it so we have some questions that have come in the average inheritance for a black african in the uk um anyone that answered one pound is actually correct that's the correct answer one pound um one pound yeah [Laughter] yeah so the average inheritance of anybody so if you find yourself in the demographic of being a black african the average amount that you would inherit would be a pound for black caribbeans as well you're not out of you're not out of it as well it's 700 pounds for black caribbean so we're not in a great demographic when it comes to inheritance at the moment it seems it seems quite shocking when you first hear it right yeah it seems very shocking but you need to understand that you know a lot of people actually pass away with debt so you know we're already in the negative let alone coming positive one pound is actually positive so you can actually imagine that's it's not that surprising when you think about it properly yeah and it's it's very important to that's a that's a good point because legacy you're always going to pass something on you're going to pass on a benefit or you're going to pass on a step behind you can pass on debt so examples are anyone who's really old unfortunately you have an interest only mortgage you don't have a repayment plan disaster these are the kind of examples that we want to free ourselves from and be better as a people and just to add a few stats to that um 90 of all sorry to be ethnic about again black african and caribbeans by the time we're over 66 when we're in retirement we have no money so that's 90 are relying on the state for support why because you know we haven't made plans we've not as as jackson yemi have said invested and thought along those lines so that's a big big step we need to think about and we all get there eventually right so we need to make plans now the second point is 80 of all people in our group as well have not bought a property so when pastor's pounding a table about this it's not just for the good of his health right it's the fact that legacy is at risk here you know too many of us don't own our properties too many of us have no plans for retirement so yeah just those are the two key stats we wanted to share as well perfect cool so many of us in in in wt are are part of a family right so a question to the panel is um how can we do better for our children and our generations to come how can we put them in the best possible position to have a great head start in life jax yeah so um i've done many one-to-one coaching families and one of the things i told them is from the day the child is born you need to start putting money away from that child um and when i say money i'm not talking about just savings and i think that's the misconception when i talk to people and say have you started doing it some people say yes many say no but the people have said yes very unfortunately they say they've got an iso that's oh that's great you've got an iso you know what what what you know what is it invested in and they say oh you've just got a nice song they don't even understand what the asset is and essentially what they have is a cash i saw manuka says great it historically was all right because it gave you some interest but since the financial crisis of 2008 interest rates are really low so you're earning absolutely nothing on your money basically and so when you actually look at you know the options available what most people should be doing for the child is actually putting their money in what we call as stocks and shares isa an investment isa because a child has a very long term horizon it's got 18 years minimum if you start today and you actually put that into riskier investments risk is a funny term but it's not a bad term so a scary time um over time you you should get at least a 10 return on average on your investment and that should grow and grow and grow and grow i've got some numbers so if someone goes and i'll give it another result in a minute yeah could i just add to that i also think it's important for you yourself to build your financial habits and then transfer that to your children because if you're not careful what you'll start doing is if you're still focusing on your children but you're still in debt and if god forbid by the time that you retire or you die you still have that debt you've passed that on to your child so you really want to start thinking about what's my own retirement because you don't want to be living in your your your child's basement for the rest of your life so i i really want to be real here so you need to start thinking about how can i invest in myself how can i build those habits now when i've started doing that how can i transfer that to the children so that they also don't make the same mistakes that i did i've got a funny episode a podcast a lot of the time and the podcast is called are you your parents pension you know so already started in the negative but a lot of parents are looking at us hey jax and i said to my mom you're lucky you've got four children you've got a nice pleasure pop you know um but all jokes inside that should not be the case you know they should be able to provide for themselves so that we can focus on our own immediate family which is our wife children that kind of stuff but to give you some numbers um and by the way you can go online when you are home and do this for yourself um just type in a compound interest calculator or sometimes called investment calculator and just play around with the numbers but i'll give you some numbers somebody who's starting a family today um i never got 50 pounds to start investing or start saving for the child if they start today and they do it until the child's 18 years old and they get a return of 10 which is quite standard for an investment portfolio and they continue doing this every single month 50 pounds every single month for 18 years by the time the child is 18 he or she will have nearly 30 000 pounds just saved ready to do something with that child can use that money to buy the first property that child can maybe pay the student loan that kind of stuff or even start a business so that's how you can actually start to give you know a head start and you know just to give you a bit more of a um an eye opener all those 50 pounds would have come up to 10 800 pounds so you would have saved 10 800 pounds but the returns alone would have been nearly 20 000 pounds and that's just how compound interest works the longer you can start um the better just to get can i continue yeah now let's let's take this further right let's say the child you know at 18 years old you look at the child he or she's not really mature you don't want to give them the money might go by a car or something like that so i'm going to wait till the child is 21 maybe as a graduation gift if you do this with the same amount of money just continue doing the 50 pounds every single month but at times a child is 21 they will have 40 000 pounds again and that's just an extra three years of being consistent and essentially all it is is a formula it's all about compounding effects and that kind of stuff forty thousand pounds i could do if i had four thousand pounds since that i told you right you know i'll be smiling let me take it further let's say at 21 you look at the charities this chat is still not serious you know 21 years old how do you say i'm going to wait to uh 28 years old maybe as a wedding gift or something like that if we continue this process and this is just 50 pounds a month my phone bill is more you know um 50 pounds a month and you wait till the child is 28 years old that money will be 85 000 pounds you know and that's the effect of compounding you know when you really understand it you know albert einstein quoted the eighth wonder of the world it's just maths it's just maths and it really works so if you want to give your child a head start i would mean i would really push for everybody to open up well it's not financial advice i have to say because we're online but um i will push for people to open up pages stocks and shares like and start putting money aside no matter how small it is thank you very much and just at that point as well disclaimer none of this is financial advice um no one's telling you to go and open anything no one's telling you to go and buy anything protect yourself yeah sort yourself out but um thank you for that jax that that actually reminded me of a of a story i remember some years ago giving a talk at one event and um you know you had breakout sessions and i had opportunity to speak to one young girl and she was like yeah i'm in a position to buy a property but you know i want to live my best life i said eh i said listen think about a situation that could potentially happen you're settled your husband your children your rented accommodation everything is going well let every post landlord i want my brother back everything is unsettled why why does that need to happen when you had the ability to put stability in your life and this is what pastor is talking about in terms of order priorities what what is important to you now you have to remember that the difference between someone that is extremely successful someone who isn't is all about a decision a decision that they've made years before five years they make a decision today to now say okay how do i want my life to be in 10 years time what can i implement now in order to be fruitful in that moment in time so i think one thing that we have to be careful about is the decisions that we make and how we impact the ones that come after us yeah cool so i think we have one more question in the poll and let's see what that is and how people have responded so how much is a hundred pounds left in a current account worth ten years after ten years assuming two percent inflation cool so let's see and this is a very important point given what jax mentioned about compound interest so something will be will be happening you know your debts compound as well they get larger if the longer that they're outstanding cool what do we have here and everyone has gone the majority have come with 82 which is the correct answer so you actually lose money the longer you hold on to it because the value of money is lost over a long period of time is that correct yeah yeah it's um you know it's it's just how finance works and essentially all it is is things become more expensive as time goes on you know if you just look at some of your spending plans ten years ago it's changed i used to be able to get on the bus for 40p and even though i didn't pay but but you know or people tend to use the chocolate example the fredo chocolate you know things just get more expensive and actually that's just how things go and it's actually inflation two percent inflation is actually healthy um it's something that actually helps the economy so with this understanding it's always going to be the case that you know your money is always going to lose value if it's not earning a return at least equal to inflation so you know again going back to what i was saying about since the financial crisis of 2008 interest rates have been really low and they've been really low because it's a form of policy for the government to you know kind of encourage people to spend encourage people to take out debt you know um and so with that in mind you're not earning anything for your money um and if your returns are less than inflation you are definitely losing money and as we speak today inflation is really really high really really high and i can go into the nitty-gritty but we can we can touch that that's why they need to join go fishing um yeah i was just going to say that there are going to be specific times where you would want to save your money and there are going to be specific times when you want to invest your money and it's again it's going to depend on your personal circumstances and what you're saving for so for example if you're saving up for a house you might not want to invest that depending on how long you're actually going to be waiting for but again that's why we've sort of actually brought this program in so that you can come in and say okay i've got this money what is it for is it going to be for your emergency fund is it for your retirement for example or is it going to be for anything else and so you can then figure out what you should be saving for and then what you should be investing and when we say investing i think it's really important to understand that not everything we think is an investment is an investment if if you don't understand it and you've probably heard many people say it before if you can't explain it to your five-year-old or to your grandparents then you're probably gambling if you don't understand it so i think it's really important that we understand everybody's talking about bitcoin everybody's talking about fx i'm not saying these are bad things but it is a bad thing if you don't understand it so we need to stop jumping on every single trend and get advice like we said we're not advisors we're not advising but we definitely would recommend get education from people like jacksonville but also get advice before you jump on the latest trend because it's the be it's the easiest recipe for disaster if you just start doing things which you're not supposed to be doing and you don't understand okay can i ask a question inflation is now 3.2 many of us don't understand that and this morning the gas and prices increase they've shut down where you can shop over all these um places instead uh petrol's gone up uh cancer tax is going up uh everything is going up it's like a stealth tax that is coming in just quietly but it's going to devastate quite a lot of people's finances they said this morning that the average gas price is 846 and by january is going to be 1352 and by april is going to go to 1 600 which means is double in the next four five months so what is inflation mean why are you talking about that hundred pounds com just the value is 82. we don't want to explain that better to us because uh many people just hear inflation and they feel it's just something that goes over their head yeah so i'll start and i'll let jax finish uh an easy way to think about it is that every year prices go up so your hundred pounds in one year's time what it can buy you will be what you could have bought for 82 pounds the year before you see what i mean so the value of your money decreases just by default that's why we say investment is important so that'll be my summary bullet jacks yeah yeah very good introductory um just to give you a bit more of an explanation as to what's causing inflation right now um we've been through two years of a complete disaster right um businesses have shut down all these kind of things um i don't want to throw too much jargon out there but if you catch it you catch it there's um two types of things that cause inflation demand pool and cost push demand pool just means there's a lot of demand in the economy people want to spend money and you could think about it people have been furloughed we have the highest savings rates right now people have a lot of cash in the bank account and when you've got a lot of cash people want to spend if there's a lot of demand that people are spending what are people going to do what business is going to do they're going to push up their prices so that's the demand pool effect of of inflation and the other one is cost push and cost push means the businesses themselves um the imports the products that or the things that they do to actually create their service it's costly for them right so for them to catch up on those things they have to push up the prices of things as well and so when you put these two things in in combination with each other it makes you know it just makes sense as to why things are much more pricey right now and that's that's what causes inflation yeah i like to kind of always think of it as supply and demand so if i have 10 apples and i'm charging a pound each and i have 10 people coming to me to buy those apples i will give each person an apple and i'll charge them a pound but if i have 20 people coming to me i need to increase my prices because there's not enough supply and so because of that people then need to spend more money even though the the value may not seem that different they now need to go and spend more money on that same product yeah deep stuff stuff so coming to the last question i think we've touched on it in and out but just to summarize why would you say investing is so important i think i've covered it a bit but um let's look at these story of the talents right um i think we know the story where the man went over for a long time gave his servants was it uh one two or five now whenever we speak about this this story um you know i like to i like two people to think about it very literally and when i heard the term talent they're thinking about telling us and oh i've got talents but actually talent was money that's what it was it was just a way of gold or silver or some precious metals and if you actually look at um what a talent is worth in today's value i believe it's about 1.4 million dollars right so when when a merchant was going away that's how much you gave to as one right so the one who got two would have been 2.8 etc and when we heard the story the guy went away for a very long time he came back and ended two faithful servants had double it and the one um the one that was disobedient stuck it under the ground and when i first heard the story you know the end the the merchant was really angry he's like you disappeared and i was just like i was in sunday school and i thought well he dug it under the ground and he gave you back what you gave him why are you so angry you know um it's not like the protocol started he went and craziness of that with the money so why are you so angry it's only when i actually started to understand macroeconomics um and i attributed it to the story and i realized oh my god he must be fuming because we've just described i'm using the power how much 100 is worth after you know so and if you read a passage it says the the master was away for a very long time so the time effect means that money that he gave him was what is worthless right so in a story he says why didn't you just put in a bank and earn an earn some interest and back then back then you were earning interest you would get interest it's not like today where you're not earning nothing for your bank and so when i talk to people especially my fellow christian people i said look what you think of today what's happening right now if you keep your money in the bank it's not much different from sticking under the ground it's not much different at all if you're not earning anything you're losing money you're just like the very unfaithful servant you're not being fruitful and you're not multiplying you use that money to invest in a business because investing is helping a business out so if you like a business and the business does good things and you think you do well invest your money in the business invest in your own business you know be fruitful and multiply and that's the most important thing so when you look at the story it's it becomes so clear to me that actually yeah you just you just can't keep your money in the bank it has to show every time you have to be fruitful and you know yeah thank you very much thank you very much cool so those are the end of the questions that we've prepared so go into slido we will now pull up the questions that you have asked at home and in church so if we can have those on the screen please um while we're waiting i i just want to when when we're talking about investing as well it's really important for you to know your why because you don't want to just start investing for no reason that you don't really know what you're investing for so for a lot of people investing is going to give them a lifestyle choice that they choose to have so for example you may be thinking that you want financial independence and that is basically giving you the option to do what you want to do when you want to do when you want to do it a lot of people don't like their jobs and what financial independence gives you is for you to have more time because we can't buy back time so if you're now building assets that are essentially going to pay for your lifestyle you can essentially give back you can give back your time if you want to give more to your church for example if you want to work for charities if you want more time to spend with your children investing can help you do that and so it we're not trying to tell you you know you need to invest just so you can make more money it's not about that but it's about thinking about what is your why what has god told you to do what you're calling what you want to be doing in the next 10 to 20 years and if you're not happy with what you're doing now how can you change that yeah can i could i have something quickly yeah um the story i i had a friend you know i'm very passionate about investing i've been passionate about for the past like eight ten years and i remember i was trying to encourage people i had this friend and i said i think you should you know and she's an accountant and i said you should start investing um and she said to me jax investing is not for me i nearly capitulated i couldn't believe what i just heard she said investing is not for her and i didn't understand it i left the conversation because i was starting to get annoyed because i felt it sounded really silly to me until i understood why she said it and essentially because she didn't know what investing actually is she thought it was gambling so you know when she said investors not for me what she wanted to say is gambling is not for me so i went back to the conversation as we sat down and i said actually this is what investing is and do you know where your pensions are do you understand where your pensions are it's actually being invested on your behalf so you know the education is extremely important you see things online you see people doing these schemes you know just get rich very quickly schemes buy this today and sell it tomorrow to make a return and then they categorize it as trading and i've seen a lot of that kind of stuff and you know these pyramid schemes and there was a time i was in vietnamese i don't have to remember i was in one of your offices and there was something happening in one of the other rooms and there was a guy who was shouting his head off in a form of motivational speaking and i looked inside the room and there was a lot of young ethnic minorities but those are the majority and they were trying to get them to oh you can change your life and if you join our frog scheme and join the pyramid scheme and my heart was pounding because i was so angry that young people are being sold this thing that is not it's not going to work and they're just going to capitulate and think the same thing that my friend said i said investing is not for me so be very careful as to what investing is don't misuse the term and investment is different from gambling and it's different from pure speculation while you're dealing with the slido there are many people who have come across you understand especially i mean i hope we talk about properties and all that kind of stuff as we go along that bought their properties and they found themselves in serious debt veroni i i m my consistency even before we get into investing you understand how do these people deal with their finances because i think many people don't understand what the responsibility of buying a property which is a very good thing but why do i see those same people go so much into debt that they don't know how to get out yeah i think the sorry i think the problem is is that when people think about their house they think of it as their only investment and then that's it because when people tell you that your house is an investment that it means that everyone thinks okay i should get the biggest house that i can and then once i bought my house then that's it but the problem is is that once you've got the house that's it's not the only thing it's for you for something to live in it's a i i kind of see it as a good savings part as well because once you have paid off that mortgage because a lot of people they'll buy it and they don't they don't pay off their mortgage and they'll keep refinancing and their mortgage is still there so for me if you're going to buy your house this is where you know okay this is somewhere that i'm going to be staying long-term and i eventually want to be mortgage free as well so that by the time i retire i don't have any mortgage payments that i need to think about and i own this house but the thing you also need to remember is when you actually retire what income are you going to be coming what's what income is going to be coming in because yes you might have a paid off house but if you're not working and no income is coming in how are you going to eat how are you going to pay for the rest of the bills and so it's really important for you to still think about okay once you've bought your house you really still want to start thinking about investing your money you also want to start thinking about you know an emergency fund or rainy day fund because i always say you know even though you buy your house if you spend all your money on the deposit what happens if the roof collapses or your boiler breaks down you then end up going into debt to go and finance it because you don't have any other cash so that's why it's still important that's why i'm i always stress yes when you're trying to buy a house remember you also want to think about having extra cash so that if anything does happen once you've bought your house then you can use that money but then also make sure you buy a house you can afford please please because you don't want to be maxing out your income where 100 is basically going towards bills and you don't have any money to put towards your emergency fund or your investments or anything else amazing thank you so much and just to add well everyone has a different idea of their ideal asset classes and that's something that we have as part of the course itself but a true asset a good investment is one that pays you your main home cannot pay you yes you have the value yes you have the equity the only way to release it is by taking out something on it but you have to have something that pays you you know everyone has a different idea and threshold and appetite for whatever asset classes that they want to invest in but that's something to be mindful of but more details in the actual course of what we deliver cool so slider are you ready thank you great so where shall we begin what advice can you give to help encourage teenagers to save or that much jumped okay so can you list a few things that we can invest in cool let's go jax so there are five asset classes um i'll go for them very quickly we've got equities you may have heard them called stocks and shares which is where you buy shares in what we call public businesses so that's that's one thing the next size of class sometimes called fixed income uh you've probably heard it being called bonds which is basically you lend the money either to your corporation corporate bonds or you can't relate to the government government ones a third asset class which is i know yemi and xi'an love the asset classes real estate um which is a tangible asset you know that can pay you you can use leverage and that kind of stuff that's a third asset class a fourth asset class is just called alternatives and under alternatives you can capture things like commodities and just all these fine arts these things can actually be captured under alternatives and the last asset class is called cash cash is actually seen as an investment because if you do um keep it in a bank you do you should earn something in it so these are the five asset classes and it's important to understand them you can have a preference as to which one you want to focus a lot of your capital on but it's about understanding the characteristics of each asset class the risks appetites and how you can even create a portfolio that can capture all of them um according to your objectives time horizons and ability and willingness to take risk um but i'm not going to go in and tell you exactly what companies are investing because i'm not allowed to do that and just a quick one i know some of you say i'm a nurse i work for 12 hours i just don't have the time to do these things consider a financial advisor or i mean what jax does now what i used to do was invest money on behalf of the rich and wealthy and they don't spend time saying i want to buy this stock i want to buy that stock they outsource it to people we can do the same thing go to barclays hsbc or you know fidelity there's a way hargreaves lands on you can actually outsource your investment as long as you know like jack says what your investment class preferences are and then they can help you out on that stuff cool thank you we have some great questions we have loads of questions as well okay one for oh you got okay cool one for veronia um i have a question that says how can you start paying off your debts and credit cards what would be the best strategy and do you have any tips yeah um the first thing i would say is um you need to understand how much debt you have first because a lot of people the amount of debt they think they have is not the amount of debt they have you think you have 100 pounds in debt you're in a thousand pounds worth of debt i'm sorry i i just it's because i care so i'm a bit passionate about this um so you need to figure out how much debt you have and then you can start to think about what kind of strategies do you want to do so there are a lot of different debt strategies and we do go through it actually um with wt legacy but the main one that a lot of people will use is either the debt snowball method so essentially you list all of your debts smallest to largest and you attack the smallest one first you pay the minimum payments on all the rest you attack the first one first and then you go towards the next one the um other strategy you can use this is the debt avalanche so you basically just pay off by the highest interest rate so the one thing i would just say is just try and stick to one but essentially you just need to pick a strategy and you keep doing it but i think if you're able to join us then we will help you just go over that in a bit more detail thank you very much um i've got one for sean um what are your thoughts on shared ownership properties i think on shared ownership some people say don't do it don't do it don't do it my view on shared ownership and help to buy and all these different products which are there to help people who maybe don't have the income you need to live where you feel you need to live is firstly consider do you need to live in the area if you can afford to live in uh you know further outside town and still get to where you need to get to and you've got your family dagging them yeah exactly and you've got and you've got your family networks in you know and it's still all right for you then consider that because you can actually purchase without involving having to staircase and do all those things and pay back uh homes in glendale if it's a height help to buy a loan but if you need to be in a specific area because of work because of your family links whatever your kid's school then consider it um but you need to understand again this is why we say speak to your broker your advise your financial advisors to understand in detail what it's going to cost you because nothing's for free shared ownership fine uh we understand that you know it will give you the leg onto the ladder same with help to help dubai but the government does clawback some of the uh the benefits so as the the home the property price goes up you know you have to pay back more to whatever the provider is so it's not really it's kind of wishy-washy answer but again join our course and we'll be able to help you a bit more thank you sorry um also i feel that there's also a great benefit in where we are right now that the fact that many people are walking from home and that's probably what the norm is going to be i think people should now start thinking of buying properties in areas where they can afford further affiliates because i even even as an employer not the staff don't come in every single day in fact most of us is on the cloud you walk on the car most of the time you come in twice a week into the office if you ever do and that's so i feel that this is the opportunity where people can buy in places i mean i know you spoke about dagenham but unfortunately dagenham is now expensive because i live around that area and i i i went online and i found out that a lady was in my house and she was she was a pastor and her someone in accommodation was asking telling that that she's just about to sell her two-bedroom uh property in dagenham for 350 000. she had a property there she didn't even know what value her property she quickly went online and found out that the property she bought 15 years ago has gone up that much uh and so i i would advise people also and i'm not sure you guys are the experts in there to start considering buying a way outside because you're not spending that much on transportation anymore and it means you can buy a house you can afford as well no i agreed i think i think even personally but the first property i bought was in birmingham it was nowhere near um but that was for an investment by the way and the reason why is because it was more affordable i could maintain the lifestyle i was living and i can do other things i think what we suffer from the young ones i'm young so i can say it is that we love this london lifestyle we want to be in the i'm not going to mention any restaurants i don't need to ban me we love to be in the mayfairs we love all of the high life but i think what that prevented us from doing is setting ourselves up well so there are towns big towns manchester nottingham they're doing really well house prices are a fraction of london properties and i think if you take into consideration your quality of life in these areas it's only a train you know you come into london you exit i think the difficulties are ties you know friends family which is understandable but in life there are things called sacrifices and you have to have the long-term vision of these kind of things you know cool so another good question um our point at jax is what advice would you give to an older person who has little savings and investments and where should they start i said like a little savings and investments and investments yeah oh it's tough one um well first and foremost it depends on how old we're speaking um because old to someone let's let's assume 50 plus 50 plus um you've got different options available with these kind of things we actually need to sit you down and go through everything every single thing you know what is your income what is your expenditure um are you planning on retiring soon can you actually retire it's a difficult question so i can't really answer it here um i would need to sit you down and actually go through everything to understand cool no problem um i've got one for veronia i've saved five thousand for my emergency fund what should i do next yeah it's a good question it's a good question the first the first thing i'd probably be asking is that 5000 is that enough for your emergency fund because when when i'm talking about an emergency fund it's not for you to just save up a fixed amount and then that's it you want to really be thinking about different circumstances so is that six months worth is that three months worth of your expenses is it 12 months what do you feel comfortable um with what's your risk tolerance after that that's probably when i personally would be thinking okay do i need to save up for other things like my first house for example do i want to start investing so it's going to depend on your personal circumstances but that's probably the route i would start thinking about but again just remember how much do you actually want in your emergency fund as well well what i'll say is most of the questions asked um can be answered with one specific thing which is having a budget um not many people like to speak about it and one thing i've learned is personal finances a lot of it's just psychological it's more than just knowing exactly what to do is actually change your mindset all together um and i grew up um the term budget the way i grew up was a terrible word you know you even use it to insult people you know i don't know about you guys but in secondary school but your budget you know you're cheap basically so actually i don't i don't use the term budget often at all um i use the term of spending plan because vending plan just makes you feel better it makes you feel like you're in control of your finances you know and essentially that's what it is you know you're just telling your money where to go money will always find a home you know it will always find somewhere to go if either your savings account if you spend it and if you don't take control of actually telling you where to go it can go in different places and i ended the month you're like what did i what happened to my body you know kind of thing so you'll find that most of these things actually come down to to having a spending plan that kind of stuff really good emergency fund what exactly do you mean are you talking about living expenses like if you don't have a job or what what does that mean yeah so a lot of professionals will say that ideally you probably want three to six months worth of your living expenses so for example if you lost your job now how much would you need to basically live on so i'm not talking about your lifestyle in terms of you going to hakasan and enjoying life at the cinema but your bare bones expenses how long can you live for and do you want that to last for three months maybe it's you and your partner so maybe some you know your your um husband and wife maybe they have um a secure job for example so depending on how long you have it for will depend on your own personal circumstances but it can also be useful for things like um you know if your boiler breaks down in your house or if your car breaks down you have an emergency for it i think it's always important to remember that planned expenses are not an emergency so when you're paying for your mot for your car that's not an emergency when you're paying for your road tax it's not an emergency so remember it's things that you don't expect to come up that's what it's for things that you know that's going to come up your holiday is not an emergency i'm going to stop right there but just just remember things that aren't expected that's really what i'm talking about when it comes to an emergency fund yeah and again going back to the psychology i don't like the term emergency fund because it's like there's going to be an emergency you know so again when i'm coaching people i said forget the term emergency fund maybe call it your cash reserve or your your rainy day money because when it rains you need an umbrella that's your umbrella money basically so yeah and one thing i would say is you know i often get asked how long should your emergency fund be should be three months six months up to a year um i think you know three to six months is fine um you can go up to a year but i think once you start going above a year then you have to start remembering some of the things we've spoken about inflation and that kind of stuff thank you so much next one for xian is it better to invest in property now or later the person is so low are you single and sometimes worries about doing it on their own although financially doable yeah i think forget about if you're single or not this your destiny has got nothing well sorry let me not take your finances should not be impacted by your relationship status so forget about that firstly but second i would say um so the first part of the question was habit stepper because that was i think honestly i think it it's so difficult trying to time the market it really is and i think it's a fool's errand so i think don't again waste your time trying to work out is is this property price i'll tell you just something my wife and i i told you we have a development company and going into the pandemic we were scared i'll be honest with you i think we're not often transparent about you know the tough parts about owning the business but we were very scared that property prices would would really fall tumble right 20 10 20 because that would be bad for our business but literally uh you know come september they went up 10 so everybody was saying they'd be down 20 they're up 10. so 30 difference between what people thought so it's so difficult in any asset class to try to guess just try to decide where you want to invest if it's property wherever it may be and stick to your you know the areas you think if it's investment sorry again don't worry too much about timing but if it's about where you want to live again i guess that's more a personal one you need to just think about what's right for you in that a specific period of time but yeah generally speaking i would say to forget about it oh every 10 years in the uk property prices have typically doubled you can't call it it's just too difficult if you do feel prices are way too high or for the specific property you're looking at maybe go to a different area try to negotiate if you're not able to get it fine but timing is just too difficult to start to waste because you will end up waiting five years you'll spend five years away and prices would have gone up even more and then you'll just be like saying should i buy now should i buy now five years ago again and then we'll be having another event here and you'll be asking the exact same question so honestly yeah that would be my recommendation thank you so much um we'll take a couple of more questions for time uh next one for all is what is the best way to increase your credit rating are you me okay um so again the first thing is check your credit report and also know the difference between the credit report and your credit score because they are different so your credit score is the number that you you'll just see and a lot of people just look at it and say oh it's excellent great that's it no you need to look at your credit report you need to understand okay are the accounts the right accounts is there anything that shouldn't be there for example have you got that phone bill that you didn't pay for six years ago and they've now put a mark on your credit file you really need to look at it because you need to understand why maybe you have a low credit rating and then from there that's when you can start to tackle it so a lot of the things that you could potentially do is for example pay off your debt because if you if they if lenders are seeing that you have maxed out your overdraft you've maxed out all your credit cards they're going to be thinking okay they can't necessarily handle the credit that they have so it's really that's probably one thing that you can do there are other things that you can do to increase your credit report like being on the electoral roll there's a lot there's a lot of different things that you can do but the first thing i would say is start looking through your credit report because that's going to give you just good guidance as to where you maybe need to start i remember a time where um my credit score was pretty good but i wanted it to be excellent i wanted it to be to be perfect and i found out that it's actually good to have a credit card now i grew up and this is a whole different topic but i had a scarcity mindset when i was young and i'm sure a lot of people have i was petrified of debt so i had never taken any and it went to my favor to some extent but in terms of i just it's just not something i play around with um but i was advised by a friend you know get one of these uh credit building credit cards um to boost your credit score and it did it did um so i would spend um just maybe like 50 pounds a month and i'll pay it back before the deadline and it actually really did boost my credit score until i got a bit excited and i thought oh let me just spend as much as i can on the credit card because i can still afford to pay off and then i spent let's say uh 100 i spent about 100 of what it was only 500 pounds and i could still pay back and i thought that's still fine well until summer credit score going the opposite way i said what's going on it's not like i've missed a payment but actually it's because if you have a credit card and you're spending more than 35 percent they look at you like you are desperate for that kind of thing even though i wasn't kind of thing so if you do ever get a credit card to try and boost your credit score do not spend more than 30 percent [Laughter] so i was saying you know i was spending a hundred percent of what i was allowed to spend um 500 pounds and i thought that's fine because and i was paying it back i was fine i thought you know i can afford i couldn't afford this but then my credit score started to go the opposite way and i was really confused as to why that was the case um nothing was wrong with my credit and that kind of stuff but it turns out is because i was you know spending too much and it signals desperation even though i wasn't desperate it just signals desperation similar things such as opening too many credit card accounts and opening bank even opening a bank account another bank i remember i opened up an account i thought ahead of this month's oh that's a bit different from my barclays account let me open up amazon phil i said what's up you know you don't you don't notice these things um until it happens to you and until you go searching but um yeah if you're about to buy a property and these kind of things you have to be careful not to be doing these things because it can go against you yeah and a lot of people will say that you can use a credit card to help build your credit score um if you cannot pay it off do not get it please it's not financial advice but if you cannot pay it off please do not get it because otherwise lenders again will see that you can't even pay off the little credit that they're given to you so again if you want to get a credit card i'm not saying that you shouldn't or you should but if you don't know how to handle it i personally wouldn't bother brilliant thank you so much one more question last question regarding pensions um is it advisable to have a workplace pension as well as a private pension is it advisable well i don't know because i need to know the whole circumstance but um workplace pictures i think are great um if you are working for a company you are off the age of 22 i believe you earn over 10 000 pounds you should be um you should be your company's pension basically by default and you should be contributing i think eight percent it'll be five percent of your money and the company will be contributing and just an additional three percent so if you are not getting a pension go and check that um and and it's free money so so why not one of the things that again when i deal with clients and some some people um some people actually opted out of their company pension and i think is a good thing because you think as if your take home is more which is it is because the money that you know you take home is more but actually you're losing out on free money um from the government because they add more money as well and also you're losing on the tax efficiency as well so there's just so many different reasons why you should be in your company pension and as i said earlier your pension account is actually an investment account so it grows over time you know so that you can actually retire um comfortably um in terms of whether you should have both it really comes down to your personal circumstances you know there are limits you can in terms of pensions you can put up to your salary so up to up to forty thousand pounds right so if you earn forty thousand pounds you can actually put four thousand pounds into a pension pot um anything anything above that you can't and i think there's a lifetime a lens of just over a million or something like that so it really does depend on your personal circumstances but if you want to manage yourself i'm going to be off topic now but if you want to manage yourself you can have something called a sip a self-invested personal pension and you can manage it yourself as well some companies actually give you the optionality of doing it my company do if i want to manage it myself but because i've got other investment portfolios which isis and that kind of stuff i wrote manage those and i'll let my company manage the pension for now anyway but yeah me as an accountant can you tell us what the benefit of having either a private and a pension on our taxes and if we have a if you're self-employed have your own business how does that help for the future yeah sure so there are different in both elements whether you're an employee or business owner there are always going to be tax benefits so if someone is a contractor for example working through their unlimited company and they make private pension contributions up to the amount of 40 000 pounds that will be a capital i'm not sorry capital corporation tax relief of 19 which you would get so it's a deductible expensive um in your personal capacity it's 40 000 gross so what that essentially means is the actual contributions are 32 000 pounds they gross it up by 20 so there are always going to be reliefs the government correct so essentially what happens with that is that doesn't have to remain as cash when it's in a sip for example a self-invested private pension it can go beyond and it can go further again this is not advice this is not you shouldn't take on this advice just listen and what it is what you could do is you can now invest that into trackers etfs which jax knows a lot more about and stocks where if you believe in a company you believe in what they're doing that they can now you know multiply your money and do greater things and whatever it is but again do your own research please contact your own financial advisors and they'll be able to give you the information regarding how you can go further the same can be done with isis so um in our plan as well with wt legacy we talk about lifetime isis we talk about cash isis we talk about stocks and shares isis we talk about many different things but again if you have financial advisors i can treat you all to speak to those people accordingly yeah yeah i just want to add something because i've seen a question about lifetime i saw um some people actually use it as an alternative all in addition to their pensions um because you know it's an account you can put money and you get tax relief to give you back 25 up to 1000 pounds and that kind of stuff so there are some people that actually use the lifetime i saw um as an addition or as an alternative to a standard pension and it has come it has got its characteristics which can be more favorable for example at the age of 60 you could take everything out tax-free whereas with a pension at the age of depending on your age 57 58 55 i think for some people you take our 25 tax free and in the rest you've got draw down and all these other options so um yeah i mean we'll talk about these things during the journal course anyway so brilliant thank you all very much thank you for the panel um so we've got some outro slides just to give you a little bit more about what we're doing and what we're offering a little bit more about us uh could the team put that up please when ready cool [Laughter] all good i will just go through it meanwhile so essentially um wt legacy what we have is a course we have uh what should i say a deliver we can deliver something that we believe will enhance everybody's life we believe we have something where we can look at the debts you have ways in which you can invest we can talk about how to take yourselves beyond um to buy your first property to set up what we've discussed like lifetime isis age permitted pensions and whatever it may be and give you the necessary advice so the first stage is called debt down and debt out now with this what we are effectively doing is looking at your debt position you can never move forward in our opinion without um getting rid of your debts we imagine debt to be await essentially and that's something that you need to relieve yourself of before you can now move forward you know my wife always says um a saying from where she's from i'll translate as best as i can so uh a ram that moves back moves back to gain power yeah so what that essentially means is you know when a ram is about to charge you they will take some steps back to gain power because when they come forward they're coming forward at full force yeah i hope i translate that as best that i can so um so that's debt down and debt out we also have the next step which is double double ease and that is for building your emergency fund and effective ways to increase your earning potential so this is where we will make cross referrals to wtxl who are a great team in the wt organization and these are the kind of things that we'll be looking at whether you're maximizing whether you're self-employed individual employee whether you're maximizing the most in which you can earn because you can earn more and if you can earn more then you can invest more you can tithe more you can do a lot more great in in the kingdom you know um then the next step is called the leap now the leap is where we deal with items such as introductory to insurance assurance so talking about level term decreasing cover whole of life policies we also discuss how to invest setting you up in terms of your investment platforms and the accounts that you need to have as well and we talk about property so with property we've identified seven steps that is almost like a tick box exercise and we believe that if you provide or you go through these these steps then it will put you in an easy position to get your properties and then the last one is high altitude so how it's going to be is that you will graduate through each level and then once you've graduated ultimately we want to create a network yeah we want to create a network of kingdom-minded people to do more i think me personally i can speak for myself when coming up in my journey i didn't have access to many people i had to make expensive mistakes because i didn't have the right people to talk to so what we have is a platform where we can create great minds people that have been there done it um and you know just move forward and helping us do great things you know and that's called the high altitude stage so how we're going to be delivering this will be via periodic events we will invite inspirational speakers people of kingdom minded mentalities of how they've challenged face challenges come through difficulties and how they're able to now be in such a great position we'll also implement accountability partners at every level as well there will be the availability of one-on-one sessions which will be workshop sessions um and more details will come on how you can do that um there will also be a whatsapp community group i know another whatsapp group but um we're just thinking of platforms in which we can all stay connected but that's more relevant for the high altitude level and there will be referrals to experts for investments for insurance if you want to buy a property if you need tax advice for all these kind of things we do make referrals and on that point if you are a professional in the house please do get in touch so we can make referrals to yourselves we want to keep things within you know other communities other demographics they do it really well this is what we need to do we need to pick up ourselves as their people you know cool [Applause] cool there may be informal meetups but if you see me do parking please don't tell me about your isa it's the right time yeah so please appropriate time appropriate place um and there's much more this is a new team this is going to be a great dynamic operation we want to impact lives we want to take people to the next level we want to see our children's children thriving we want them to be in positions that we can never be in i always said my parents only job and best job was bringing me to this country they've handed a baton to me it's now time for me to hand the baton to my children and for them to do the greater things and we our prayers that our children do better than us and that's what we have to do but in order to do that we have to put them in the best possible position yeah cool so we have a qr code so please if at home you can scan this code if you're not look watching on your phone um alternatively this is on uh wt website and the link is worship tabernacle dot org dot uk forward slash wt hyphen legacy so that is worship tabernacle dot org dot uk forward slash wt hyphen legacy cool so that's all i would like to thank pastor tai for this opportunity thank you very much sir i also like to thank the panelists uh very elite people by the way these guys are elites elite elite people [Applause] um unbelievable we we meet after church um we're just zipping around on zoom we're talking so much so many hours have been put into this you know and we do it to make sure that we give the best you know we're church of excellence we do everything by excellence so we do the best but just to give you an insight of the team members and the people that will help carry you through this journey with god's help i would just like to one by one everyone just tell people about who you are and what you've accomplished you know i think people need to know the levels yes go gosh all right i'll give you some some some of the stuff so um i started a personal finance journey i call it a personal finance journey um in 2014 when i first graduated so when i took a a career progression loan from barclays 9.9 percent interest i will never forget i remember when i first um started my journey and looked around and i remember even doing my masters a lot my friends were driving nice cars and i was just devastated you know i just remember it so i remember yeah me and me have been good friends for a very long time i was best man at this wedding if you don't recognize me but um i remember we were going to go on holiday and i had no money to go and i said yeah i can't go i just can't go he said jax this holiday will not be the same if you don't if you don't come so actually yemi paid for my holiday and it made me sick because i don't i just don't like people doing things for me and and being in debt and that kind of stuff so um to quite a long story short i started i decided to go on a journey um from being minus god knows how much 10 20 30 000 i can't remember um to again of getting rid of all the debts um creating myself an emergency fund and then building an investment portfolio which is in the six figures so that's that's yeah that's [Applause] yeah but also i always tell people look um i think what makes me a bit different from some of the people you see maybe on social media is i'm actually a professional so i'm not just someone who you know just talks um i'm actually qualified to do some of the things that i do i've worked with i don't know it sounds like i'm bragging i don't really like it but this is a testimony in itself you know this is an example of what god has done in your life you know you've worked hard so yeah yeah i mean my journey i mean one day i'll go through the journey but i remember graduating and being almost depressed because i couldn't get a job couldn't get your graduate scheme like yeah me i couldn't i didn't have anyone to hand hold my hand to tell me about internships and that kind of stuff so i graduated really down really upset couldn't get into into anywhere really um even though i had old academia you know and then when i finally started the journey i created my own personal kind of finance journey and my own graduate scheme studying for professional qualifications which i funded myself and that kind of stuff um i remember i was earning 19 000 pounds in my first job after this is a guy with a master's degree and i was earning like 19 000 pounds i was really distraught but i knew what i was doing and after a year i doubled my salary and then moved on to the next stage working for some of the greatest companies um one of the companies just come to call schroders which i was there for three years there's a lot you've probably heard of it's the largest um uk investment management house but i've got the story there it's it's still a journey i'm still on the journey and i'm still going [Applause] um yeah so i've probably been on this journey probably for about three years so before um when i was at uni i basically had an overdraft i used that to go on holiday spent two thousand pounds on an overdraft brought that into my work and then when i started working i wasn't working in london so everyone drove to work and i used to have the peugeot that i had for about it was about 15 years old it was a little banger and then i drove to work and i saw everyone in these these nice cars and i was like oh i don't feel like i fit in and so i ended up trying to go and get another car which was on finance because i felt like i needed to get another car just for me to fit into the into the company um and i think it was it was a couple of months after where i used to live paycheck to paycheck i had no savings at all i didn't even know what emergency fund was and so i just started and i did feel like it was god kind of telling me to just start looking at these videos and i started watching youtube videos i started reading books and then something just unlocked in me and so i realized when i then started making a budget started putting my net worth my my net worth was minus and then i realized that actually i have all these liabilities and i don't have any assets and i don't have any savings or investments or anything like that and so i quite similar um to jax i started to go on my own personal finance journey so a lot of people might not know that i was living in the house of multiple occupation so i basically rented out the room i actually moved out to become a lodger at a family house to pay off my debt because i felt like that was what god was telling me to do and for me i knew it was god because actually it was a christian family that i ended up living with and they were so accommodating i was paying 300 pounds a month all-inclusive for everything and that meant that i could end up paying a lot of my debt off even though i didn't necessarily have a high salary i was earning i think 27 000 a year so i used all of that money to put then towards all of my debt i then started learning about investing as well so that by the time i paid off my debt i knew that i was going to start saving up for my emergency fund once i did that i can then start investing and so i basically kind of gone through that journey for about two years and i think it's it's all it's very important to know that you're not going to fix everything overnight it does take work and it does take time and you do still need to be very consistent so when people are telling you you know come to this restaurant and they want to split the bill i'm not doing that i said it's not happening me i'll eat at home first i will go there and buy a starter because i i needed to make that sacrifice because things do really start to add up so that's kind of the journey that i went through and then i got to a point where it felt like god was telling me now because you've managed to go over that hurdle you now need to teach people and help people basically not make the same mistakes you did and also grow and so that's why i started producing videos on youtube just really talking about my own journey and i now coach people because i've also gone through a similar journey as well so yeah that's that's me okay um my journey's slightly different um i was fortunate i don't know if the world is fortunate but i had an older sister who was in a bit of debt a lot of that she she reminded me saying and she gave the best gift she ever gave me was a budget spreadsheet before i went into uni so i went into uni went through the three years saved money saved a lot of my student loan actually so for those of you 18 by the way it's not you're never too early so started saving towards my first house which i purchased just before i graduated and then every year after there by his grace from my you know my employment because of the way i lived i told you guys i lived in a box room sometimes it had some of the houses that i lived in no window honestly it was nasty but it's exposed to my boss gonna be a bit embarrassed now but yeah but honestly so i just made the sacrifices and every single year was able to build my portfolio over time uh five years ago my iphone i started the development business and we've been able to build or are building 70 houses in essex and north essex and um also part of the testimony by the way and i think we can't take for granted the profit we have in the house honestly because he kept on pushing us remember when we were moving into this pandemic about goshen and making sure we stay in goshen and joining the the as what was it the fast in the beginning of the year and he gave an amazing uh what you call it prophecy which you know those kind of prophecies where it's not like god will bless you is specific right it's specific about what we are our current experience at the time and he said well you probably can listen listen back to it but it was a massive testimony one one of those testimonies where honestly let me let me not go there it was just crazy mind-blowing for us anyway it came to pass that the contract to be signed was exactly what he said and i was thinking about how different the numbers were it was 0.3 tiny difference to what past the prophesied so it was what he prophesied for us and it happened and um so that's the end of the journey we're not the end that's kind of where we are now but the point i'm trying to make is we kind of in all that we're talking about all the course we're going to do and everything we need to make sure that we don't forget god all right right because it's so easy as we start getting elements of success to be like you know it's okay god you don't understand i'm a professional now you know i need to focus on my business god doesn't get it but he gets it he gets it make sure you're in the center of where god is because that's where the success is and last thing sorry i just want to encourage i know it's slightly different to what you've asked me to say the point about goshen was that he said god told us god told the israelites you are to be farmers right he said and it's the obediences which is what got the gosha knights the miracle which was in a pandemic sorry and it wasn't a pandemic it was a famine in the famine what did we see these guys were the only group to succeed to prosper to acquire property so i'm just my encouragement to all of us is that we need to just stay where god has called us to be stay in the middle of his um purpose for us and listen to what he's saying to us sir that's my summary [Applause] um for me twisting tense anyone that was there i gave my story about refresher i grew up in hackney mind-blowing um yeah i think what i grew up around didn't set me up for a life to prosper a lot of people that um finished or managed to do their gcses close friends not alive in jail and that was the environment that i saw so that was what i moved into um really young i think i was 16 17 when i met you i met yeah yeah when i was and then when i met jax it was you know what this is a level-headed person and sometimes even though you have friends that are fun friends good friends but they're not gonna bring any joy to your life sometimes you have to just separate yourself peacefully you know um and that was the decision i remember the church that we used to go to i gave my life to christ and then um since then principles and just getting my life in order you know and just sorting things out um principles of tithing principles of you know bible studies and all these kind of things embedding christ into my life but at the same time working hard and i think that's something that i saw from my parents and never let me go so this day i'm a chartered accountant fellow member and what fellow means is in the area of taxation in a county i deal with i've been there done that wore the t-shirt gave it to javi um yeah so i know all of that um i made my first million when i was 26 years old that enabled me to invest in properties i've got a vast portfolio i've got investment properties i've got investment accounts and god's just been amazing and faithful and i say this because it's not a gloating position or to to say you know what you know this is who i am and you know i'm throwing in your face it's more of look if there are people that have their availability or they need the option to have the access for people that have been there done that they know the struggles you have someone to speak to as i mentioned i when i when i bought my first property this might be a joke for anyone that knows property i i skimmed the whole property you know plastered everything and then they said where's your electrics and i said what do you mean [Laughter] so and they said you know you have to get your electrics in and i said this doesn't make sense to me and what i've done is i've now made so many mistakes and i believe i've paved the way for so many people that have helped buy the property's investment properties that all the punishment that i faced all the lessons that i had to learn expensive and time pressured and all that kind of stuff is for me to now hand the pattern on i don't believe that god blesses one person to keep that blessing with you it's now to hand the baton on to be a blessing to many other nations and many other people and that's what i'm about and that's what i do so um that's why this wt legacy was an event it was a fantastic thing and you never know in this audience at home they may be the next bezos the next zuckerberg and what's important is that we have a point we have an access point where people can now reach out to us and say i've got this amazing idea help me out and they can come to the right people they can speak to the people that have done that thing you know i'll tell you a very very brief story there was a guy a good friend and a client who came to see me at my office had an amazing idea i think the service that he provided anthony joshua even used the service and because of the mentality of how we all grew up in ends as they call it it now capped our capability of what we can do and just a few wise words putting things in place getting some ordering structures and systems and strategies that guy is so wealthy right now and it's because he tapped into and he spoke he opened up and i think that's what a lot of us don't do we don't speak we don't communicate i think we're very shy we're shy about money we're shy about talking about our salaries and again it's not to talk about how much we earn but it's like wow i didn't know that a career insurance can pay that much no one knows what actress are or not many people and all these different career paths so i think one thing that we have to do and hopefully by god's grace we've created is an access point uh what a network for us to talk and to do and make great exploits within the kingdom so yeah that's all but thank you all very much [Applause] thank you guys eric and i were having this this discussion we're going to quickly give you announcements on how you can get in touch with that or it's going to come out and do that and and then i'll round up morning everyone or afternoon was that good come on let's show some appreciation for the guys wt legacy hold on guys that was amazing okay cool so in terms of how you guys can connect with these um i heard yemi kind of say yeah join us join us join us but what you can do is you can register um on the website or via the app so those of you that don't have the wt app please make sure that you download it um you'll see it there wt legacy if you click on the image it will take you directly to i think it's like a form that you guys have like a data capture which will capture all of your information i guess where you're at your name your contact details and these guys will get it and then they'll be able to get in touch with you to basically put you into the different groups is that correct um so guys please i'm urging you please connect with this team because i know that it's gonna help you guys to get to where you know we believe that god wants each and every one of you to get to is that okay those of you that are on youtube as well if you look um in the description the link is also there for you to go directly to the wt legacy page where all the information is and i think there's even a section if they haven't mentioned it already there's a section on there where you can actually book a one-to-one session with one of the guys um on this stage so make sure you use these resources so that things can just go to the next level all right come on can we give uh that you guys i can let you go you just let's stay on there for a while so uh i i i know it's been um um a while this has been on my heart i started this probably 17 years ago and it capitulated badly because it wasn't the right time actually it was called the young millionaires club and then those who are there i can remember that but i never let go of that vision i never i it was bad i felt disappointed uh it was not the best we tried it but it didn't work but trust me i knew it's going to come back i knew god is going to do it in the right way and let me say these following things this is not a business there's no company there's no wt incorporation stuff no this is just to help you to get better there's no money no one's going to ask you for money no one's going to ask you for stuff but at the same time please do not abuse these guys and don't abuse the team if you want to get out of debt you need to get into the team you need to go through the classes they are going to set up classes in which you can go through and they're going to have one-on-ones with you and then you're going to have accountability partners so next time you call me up and say pastor uh i'm in financial trouble i will press uh the button that says no i'll just drop the phone because if you nobody calls me now for a job how are you i'm i'm having problems with my job why are you having problems with your job why are you calling me either you are totally stupid or you are or you just are disobedient stupid means you've been hearing the announcements of the excel team and you haven't gone to them and you're coming to pastor to do what to anoint your head i've done that so many times it hasn't worked go to the right place and get the information so these guys are up here and anyone who anyone who has the interest of your community not your own interests that is in the financial world that knows that is an accountant that is in order that wants to join the team please see them and join the team is not directing you to your business we're not we're not here to develop your business i've never sold one thing in this church remember many people knock on my door to say oh there's this insurance there's this thing they say and i say no immediately god will not bring people to me for me to sell stuff to you and get a percentage it has not happened and it will never happen i build i believe that god says build the people and they will build what you're building i believe if i continue to build like this yes to come someone will buy me a car i know that i know you will be that rich but i have never sold anything and that's not what we're doing right now we're trying to develop a community of young people and all people anyone in any range that we can leave a legacy behind so join the team and i believe that god will bless you that in three years from now we will be seeing millionaires all over the place in this church all over in and it's not because of the money it is just because we want to change the narrative of our community and be able to say as one body it is not shabbatabad only that we will be light that will shine in the darkness and god bless you amen can we let these guys go uh i'm gonna close [Applause] so uh we're going to close the meeting i want us to bow our heads and pray and i want you to think about yourself and start to say god let me be able to put my life back in order for all these things i've heard ask god to give you the strength to be a person i filled in my spirit should i do one let me go up here i feel in my spirit that there are some people here who in the next two years will be sitting on this stage not talking about five figures but six figures seven figures god is going to bless you through this i want you to be able to pray and say god change my mindset let me bring my life into order this is a christian firm and i believe that god will bless you father we commit this into your care maybe there's someone online that you haven't given your life to jesus this is a jesus event this is an event where you hear all of these guys say to them that god was in there it was foremost this is an event where god says that do not forget the lord your god when you become rich we're asking for people right now so if you've been giving your life to jesus give your life to you he would turn it around you could see that church it's not about clapping and shouting and praying it's about investment it's about impactation and i want you to just say this prayer after me if you've never said this prayer before that you want to make jesus your personal lord and savior and at the same time be relevant in your society just say this after me say lord jesus come into my life today i give you my life i want you to be my lord and my savior from this day forward in jesus name if this was your first time you will see a qr code come on please scan the qr code fill in the forms you are so precious to us that we want to integrate you into this family and somebody will be there and somebody will be a blessing to you and talk to you in the name of jesus i pray god that you will touch our hearts that we will become good stewards of the gospel and that we will be able to do what jack said about that man that they gave money into a talent and go and multiply what you've given us instead of devalue the talent you've given us father we thank you and we bless you in jesus mighty name someone says amen please give me five minutes online and then we're done i want you to start to consider what you want to give to god this this this afternoon we want to take our tides in our offering and as you've seen all these guys okay these guys are members of worship tabernacle we didn't go to borrow anyone these are few members guys who have built and uh and are going forward but all of them if you notice have said that god is foremost that when they do their their budget or when they do their spending plan spending plan when they do their spending pack god comes top first on the list and then all these things will be added to you so i want you to give to god in fact some of you may use this as a seed to step into your next next dimension for what god wants to do and as you're doing that i'm going to take some brief announcements on wednesday we have two services one in the morning six a.m you need to attend those six a.m prayers it's really important and then the evening our teaching our service uh just all online everything is online and and god will bless you in jesus mighty name amen uh oh week i think that's all the announcements that's that's that's it uh if if if this is your first time in worship tabernacle can you wave at me i want to put a gift into your hand yes this is your first time oh there's a lady waving at the back while she's doing this oh thank you god bless you thank you so much uh anyone else thank you thank you thank you so much for coming may god bless you i hope you had a wonderful and and is that anyone god bless you and now if you want to give what you want to give by cash or credit card then no credit card debit no credit card debit cards electron also not credit card we don't like credit cards we worship tabernacle because we're not supposed to put you in debt uh we're supposed to take you out of debt and as you see that uh uh so if you want to give by debit card electron or switch or you want to put some cash in if you need an envelope wave your hands as they put that envelope there's some hands going up here there's a hand beside but there's a hand just there's the scare lift you and you can do that when we take the offering but let me also encourage you to get ready for what god is going to do 2022 is going to be another year of greatness i have the theme for 2022. i'm trying not to say to anyone but we are going to go in our so get ready we're going to start fasting and praying from january we've done that for eight seventy how many what is nineteen years or eight years uh i can't remember but from the second year of worship tabernacle we fast every single january throughout it's like the coldest month is the month of great sacrifice but we can see what god has done so we're going to go into that in the name of jesus people have also asked me about the 31st we will get in touch with you uh it might likely be both uh just actual a bit by tickets and online it may majorly be online because the government is bringing them some new stuff and we we need to be uh careful about how we're going into this um this uh winter period uh and can i also say you are free to wear your mask in church please do not be intimidated and please be careful if you uh have any symptoms or fever please do not come to church we're online if you've got a temperature please don't come to church we're online if you're not sure whether it is flu or whether it is covered please don't come to churches online uh please respect everyone around and god bless you and if they pinged you don't come to church be online and but if you're online and you need to be in church please come back to church and enjoy it this presence of god is here let's take our offering and let's shout this let's say my god is able to make all grace every favor and earthly blessing come to us in abundance that we may under all circumstance whatever the need be self-sufficient possessing enough to require no aid or support and we will be furnished in abundance onto every good work and charitable donation in jesus name us as you may go ahead and just take it from anyone who has it and please remember our wednesday services morning services are really important they're absolutely important please do not use that time to just man if you've got an envelope you want to put it lift your hands and somebody will put it take it from you and i i believe we've had a wonderful time we normally finish as our services on days like this at 12 30 but you know this is important please join the team if you're not sure if you should get in touch with them because you're not sure about your finances please don't waste their time number two please don't let them as they're walking out or when you see them outside don't say oh i've got a question for you that is rude please they're doing this free they're giving their time free and i do not want to frustrate this team it's really important so please respect think when you want to do stuff think if it was me how would i feel so they're going out and suddenly you stop them you know i'm thinking about this investment no that is silly you understand go through the appropriate channel like i see people who text me pastor can i speak to you i don't respond to that text because you know you need to go through the proper channel you instead go through the proper channel and you will get the the the results that you want and god bless you i want to protect this team as i've protected the excel team those teams will be working together if you've got an idea to increase people or to bless them you come to me we discuss it and we'll let you let it go you understand but these guys are running it i have zero participation in it because i believe that in your generation this young generation you supposed to do better than we do so come on join that team if you've got something to offer and god bless you amen come and let's stand up and let's close this service thank you so much for your patience if you came for the first time there's a qr code you know where's like why qr code why qr code is the easiest it's the best it's the we've moved up another level uh in which we can get information from you from you and it is coronavirus 3 so please put your please get that qr code on that on that small um bag that we gave you fill in the form and god bless you in jesus name did you get anything from me today are you glad you came to church god bless you all and may the grace of our lord jesus christ the love of god and the sweet fellowship of the holy spirit be with us now and forevermore and what surely goodness and mercy will follow us all the days of our life as we dwell in the house of the lord forever and ever amen god bless you all have a wonderful week and please go for and leave a legacy for your future and for those coming god bless you [Music] [Music] [Music] [Music] [Music] you

Channel: Worship Tabernacle UK

Views: 1,472

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Id: iZ_-dUCg5is

Length: 121min 59sec (7319 seconds)

Published: Sun Sep 19 2021