Focus On Growing Your Discretionary Income
Wealthy Way
Ryan Pineda
4.9 • 2.2K Ratings
🗓️ 2 March 2024
⏱️ 9 minutes
🧾️ Download transcript
Summary
Are you spending everything that you make? Or leveraging discretionary income to grow your financial future?
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About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media and has generated over 1 billion views online. Starting as a minor league baseball player making less than $2,000 a month, Ryan is now worth over $100 million. He shares his experiences in building wealth and believes that anyone can change their life with real estate investing.
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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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