A real estate coach breaks down why agents stay stuck: they never define what wealth actually means, skip the business plan, and blow windfalls instead of building net worth. The fix is simple: calculate your liquid assets and track real gains, not just gross revenue.
And now I went through an exercise in Fiji which gave me just a ton of clarity around when I put these numbers together and I put these numbers out there. There's like six, six levels that I'm running up against as far as what my absolute financial freedom is going to look like. And I'll kind of describe the process and then we're just going to do it together. And this will be just something that. It's going to be different for everyone because each two of you have just a different vision. Like your current expenses are different. Different vision of what you want your future to look like. But it's a pretty simple exercise, but it's really cool. So eight reasons why more people aren't Wealthy. They never clearly define wealth. They make it a moving target. So as you get money, you're like, oh, let me just get more money. They define it in ways that make it impossible to achieve. Consequentially, they don't believe they can ever really achieve it. They never make it an absolute must. They don't have a realistic plan. They fail to follow through in their plan. They fail to run their lives like a business. So just systematically, I just call it taking money off the table. So you know, my business account, you know, the two businesses I have, they get to a certain point I've got the monthly stuff coming out. So I think I have like whatever monthly, like 25 grand monthly, 12,5 from each account going to this wealth building account. And on top of that, there's just these months that are ridiculous, right? You guys have all the month. Like, I cannot believe I have an extra 200,000 this month that I didn't have or whatever the number is for you. And when you get that, take it off the table, take a portion of it off the table and just push it into an account. You guys will get there. All right, So I believe that if you're going to be selling homes past a certain date, it should be just something you want to do, not something you have to do. I think this industry has failed in terms of setting, setting real estate professionals up to even know what it takes to be able to step away from selling homes. So I really want that to be a choice, not a necessity. Making money and saving money, they're really, really different. So every, everybody talks about the number of sides they do. Nobody's ever talking about like, how much money did I literally put away this year? You know, my net worth was 200,000 to start the year and it's 600,000 at the end. Of the year. That's the number that you want to start to think about. Not that my business did 2 million top line this year. You know you want to. That's the point. That's the only point, is to become incredibly wealthy by doing this. So you can do a whole bunch of things with that money. Your net worth talked about that. Who's done a personal balance sheet so you know your net worth. Pretty close number, right? Right now, I think it's super, super important to know what that number is. And for most of you, it's probably not the number that you want it to be, but going through, pulling up your Wells Fargo, your investment accounts, those are all the good numbers. The numbers in those accounts, write them down in one column, add them up, and then it's all the shit you owe money on. Could be credit cards, auto loans, the. The mortgage. Mortgage on your house and what your house is worth. And you can keep that in or keep it out. I like to look at what the liquid net worth is like. If shit hit the fan, how much money can I get out within seven days? And so that includes some of your retirement money. So if you have 401 money, there'll be a penalty and you pay taxes, but there's a portion of that that you could just bring liquid very quickly. So you really have to know that number. And for some of you in this room, it might be negative. And that's a scary thing, right? So some of you don't want to look at that number on a piece of paper, but if you don't, if you don't sort of. If you're not. How do I want to say it, if you don't sort of face where you're at right now, it's not going to get better. You're just going to ignore it and you're not going to. You're not going to deal with it. So just kind of stepping into where you're at is super important in this area. Would you count.
