The 3 Pillars to Building Wealth

Wealthy Way

Ryan Pineda

Business, Entrepreneurship

4.8 • 2.1K Ratings

🗓️ 12 December 2023

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Use one or more of these pillars to build your wealth in 2024...
Want to be coached by me on real estate investing? Join our Wealthy Investor program today at https://wealthyinvestor.com/podcast
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Are you living The Wealthy Way? Take the quiz and get FREE access to the “Wealth Builder Academy” where I go over all the fundamentals of building wealth. https://www.wealthyway.com/

Would you like my team to help build your personal brand? Apply to join Pineda Media at https://pinedamedia.com/podcast

Looking to grow in your faith and business? Join Wealthy Kingdom today https://wealthyway.co/dyy

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Ryan emphasizes the importance of treating real estate like a business. He notes that the top 10% of real estate agents, who make a majority of sales, approach their work with a business mindset. This involves strategic planning, prioritizing, and not cutting corners.

Contrary to the common notion of working long hours in real estate, Ryan follows a disciplined approach, not working more than 40 hours a week. He prioritizes family, making it a point to balance his professional and personal life. He advocates for being a successful businessman while adhering to personal rules.

Discussing JP Morgan's involvement in real estate, Ryan commends the bank's emphasis on relationships and client treatment. He sees JP Morgan as a safe place to invest and believes in its role in stabilizing the US economy. However, he notes the high net worth requirement for account opening.

Ryan reflects on Wealthcon as a valuable networking opportunity. He identifies three pillars for wealth building: entrepreneurship, investing, and influencing. He highlights the significance of active influence building, considering it essential for sustained success.

Ryan challenges the traditional notion of putting 20% down on a house, considering cash as a limited resource. He explores alternative methods, such as the BRRR method and using other people's money, to buy property without hefty initial investments.

Observing successful entrepreneurs, Ryan notes a trend of homeschooling among them. He sees it as an avenue to impart specific skills and facilitate family travel for business purposes.

Ryan credits his marriage for contributing to his wealth. He believes that having a supportive partner has made challenging times more manageable and sweetened successful moments.

Despite financial setbacks in bad investments, Ryan maintains optimism and views them as valuable lessons. He highlights the significance of investing in content creation, considering it a skill in high demand.

Transcript

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0:00.0	I think there's three pillars that you can build wealth on.
0:03.4	Entrepreneurs, that's how most people build wealth, they get really good at a skill and they build a business around it.
0:08.6	The second is investing.
0:10.7	Okay, I'm making money from my business. How do I invest it wisely? But the third pillar of wealth is...
0:17.0	A lot of real estate agents I feel like don't make a lot of money, right?
0:22.0	Yeah, I think they say like 10% make 90% of the
0:26.8	income but I mean like that's all things in life you know 80 20 rule but why do you think a lot of them don't make money?
0:34.9	Is it too competitive?
0:36.5	I think that they don't treat it like a business.
0:40.1	They probably just get their license and they think that oh something to post on
0:43.9	yeah my friends will all use me and it's like dude your friends have 20 other
0:47.0	other realtors they know too you're not the only one you know and so they just have this false
0:52.1	assumption they're gonna just all these people are going to come to them when in reality it's like now you got a market you got to sell you got a prospect you got to do.
1:02.2	So you go from making 12,200 a month to 12,000 an hour.
1:05.9	That's a big joke.
1:09.2	You know what, that's how must he charge?
1:11.2	Oh, for our call.
1:11.8	His hour is worth $12,000, right?
1:14.0	Man, I don't know what it's worth these days, but yeah, I don't do too many one-on-ones, but, uh, yeah, we were
1:21.0	doing the math the other day and it was like 5,000 an hour was like what it came out to if you were to just take the hours I work divided or however much I made divided by the hours I work.
1:31.6	That's 10 mil a year, right?
1:32.6	5,000 hour?
	...

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