How Wealthy Pro's Spend Their Money

In this episode of the Be Wealthy Podcast, Brett Tanner and co-host Katelyn Mitchell break down how wealthy agents actually think about money—and why most people struggle to build lasting wealth despite high incomes.Together, they walk through practical financial models the wealthy use to make better decisions around spending, saving, housing, investing, and retirement. Brett and Katelyn explain how to calculate the net worth and passive income you truly need to live your ideal life, why burn rate matters more than you think, and how expectations play a major role in happiness.This conversation is a step-by-step guide for agents and entrepreneurs who want clarity, structure, and confidence in their financial decisions—so money supports freedom, not stress.🔑 TOP TAKEAWAYSWealth starts with better decision-making models. High earners still struggle without clear financial frameworks.Burn rate is the foundation of every financial plan. You can’t build wealth if you don’t know what you actually spend.Net worth and passive income must grow together. Tracking both gives a clearer picture of long-term freedom.Housing decisions shape your entire financial future. Being “house rich and cash poor” delays freedom.Saving 20% is the minimum standard. Consistency matters more than perfection.Growing income beats extreme expense cutting. There’s a limit to what you can cut—but income growth is scalable.Wealth is a long-term game. Gamifying progress helps maintain discipline and momentum.⏱️ TIMESTAMPS00:00 – Welcome and episode overview01:00 – Why wealthy people use financial models05:00 – Business models vs personal money decisions10:30 – Expectations, happiness, and net worth15:00 – Why burn rate matters19:00 – Housing decisions and the 30% rule24:30 – Net worth targets and retirement math30:00 – Tracking passive income vs net worth35:30 – Expense discipline and lifestyle inflation41:00 – Saving 20% and eliminating waste47:00 – Gamifying wealth and long-term planning52:00 – Three-step framework to build wealth56:00 – Final action steps and closing thoughtsRESOURCES & MENTIONS📚 Books & Thought Leaders MentionedBuy This, Not That – Sam DogenThe Seven Day Weekend – Ricardo Semler🧮 Tools & Resources Mentioned (Explicitly Referenced)Be Wealthy Calculator👉 https://bewealthycalculator.com(Referenced for modeling retirement and children’s Roth planning)Be Wealthy Spreadsheets & Exercises(Brett and Katelyn explicitly state these will be included in the show notes)🧠 Key Concepts DiscussedBurn Rate Tracking20% Savings RuleNet Worth vs Passive IncomeHousing Expense Ratios (30% Rule)Financial Models for Life DecisionsGamifying WealthIncome OptimizationLong-Term Financial Planning🚨 BE WEALTHY WEBSITE 🚨👉 www.BeWealthy.com📱 Follow Be Wealthy:Facebook: / brettbewealthy Instagram: / bewealthybrett Twitter (X): / bewealthybrett YouTube: / bewealthybrett🧱 ABOUT THE SHOWThe Be Wealthy Podcast brings entrepreneurs the strategies to grow their business — then teaches them how to think about their money. Because wealth is far more than money — it’s freedom. Hosted by Brett Tanner & co-pilot Katelyn Mitchell.Mission: Get Free.📚 Free Resources: https://www.bewealthybrett.com/resources🏦 Infinite Banking Education: SaveLikeaBank.com⚡️ Cost Segregation Studies and 45L Tax Credit: SingleFamilyCostSeg.com💵 Self-Directed IRA: MaxOutRetirement.com🏢 Trust and Entity Structure: http://setupmyestate.com/🏘️ Off-Market Deals and Cash Buyers List: TheMagicMailers.com🛠️ Hard Money Financing: https://ww w.lendingcashnow.com/get-fu...📥 Wholesale Deals: getourhousedeals.com⚠️ Disclaimer:Be Wealthy and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational and entertainment purposes only, and should not be relied on for tax, legal, or accounting decisions. Always consult your own advisors before taking financial action.