Focus On Growing Your Discretionary Income

Wealthy Way

Ryan Pineda

Business, Entrepreneurship

4.8 • 2.1K Ratings

🗓️ 2 March 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Are you spending everything that you make? Or leveraging discretionary income to grow your financial future?
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Transcript

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0:00.0	why I'm a proponent of wholesaling and flipping is not, you know, people like, well, it doesn't build long-term wealth.
0:05.0	I'm like, yeah, but you can get rich quick.
0:07.0	You really can.
0:08.0	So it's like, it just, it depends on your goal, right?
0:12.0	So I always tell people, I like look if you want to for sure
0:16.0	like you said build wealth hey all right let's get a plan in place how much do you guys make
0:20.4	okay we're gonna have to start saving X amount per year. We got to cut your cost and hey, what's the goal? How
0:27.2	aggressive do you want to be with like building wealth? Can you buy one property a year?
0:30.9	All right, great. How much do you need? Well typically in your situation
0:34.7	you're gonna need 20% down. So how do we save 20% or how do we get a side hustle
0:41.0	that allows us to bring in that 20%.
0:43.7	The flip.
0:44.7	The wholesale.
0:45.7	Yeah.
0:46.7	Do both.
0:47.7	Yeah, because I mean if I were to wave a magic wand, I would get more and more people to
0:51.7	think about their discretionary income.
0:53.6	Lots of people we talk to think about their income. Yeah. Your gross income
0:58.2	doesn't matter. Let's say the average income. I don't even know. Do you you 70, 72,000 bucks is average income. I don't even know do you you 70, 72,000
1:03.8	is a average household income.
1:05.6	Household income. Okay. So let's say the people that watch this show it's higher.
1:09.6	Okay. Let's say it's a buck 20.
	...

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