🎯 JOIN THE BE WEALTHY MASTERMIND

Want to join a room of entrepreneurs who think bigger about money? Go to bewealthypodcast.com and click Apply Now.

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5 Things The Rich Buy That Make Them Richer

Part 2 of where the wealthy actually spend their money. Brett and Katelyn run through 5 more categories that look like overspending until you do the math.

The Gary Keller conference table that's outlasted every other piece of furniture in his office. Why Brett drives a Tesla. The $1,000 Costco run at 21 that bought back Brett's time. The Belize trip Brett gifted Katelyn becuase memories pay dividends and stuff doesn't. And the Brett quote that lands hardest: "The most expensive line item in your life isn't your mortgage. It's the network you're not building."

If you missed Part 1, watch it first. We covered time, health, learning, kids, and trusted advisors over there.

👉 Part 1: https://www.youtube.com/watch?v=qSEHMw-E6DE

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⏱ TIMESTAMPS

0:00 Intro and the 5 categories wealthy people pay more for

1:25 Quality and reliability: why broke people buy 3 cheap versions and wealthy people buy 1

4:36 Why Brett drives a Tesla and what it actually buys back for him

7:35 The Yeti, the Tumi suitcase, and the Mercedes lease Katelyn traded in

13:45 Warren Buffett's cigar-butt investing and the Charlie Munger flip that changed it

15:50 The $1,000 Costco run at age 21 that bought back Brett's time

18:09 Experiences not things and the memory dividend that compounds like a stock

30:30 "Buy memories, not sh*t" - Brett's anchor on what real wealth actually pays for

32:17 Hospitality and relationships: host the table or eat alone

41:33 Your real biggest expense isn't your mortgage, it's the network you're not building

42:08 Proximity and environment: the office Brett bought in 2010 when Wall Street said only morons would

47:43 Privacy and structure: Wyoming LLCs, TSA PreCheck, and why real wealth whispers

53:19 The "I can't afford it" lie and the Aladdin Factor question that replaces it

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📚 BOOKS & RESOURCES MENTIONED

- The Millionaire Next Door by Thomas J. Stanley

- The Snowball by Alice Schroeder

- Die With Zero by Bill Perkins

- The Aladdin Factor by Mark Victor Hansen

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🔗 GET CONNECTED

Website: www.BeWealthy.com

YouTube: youtube.com/@bewealthybrett

Instagram: instagram.com/bewealthybrett

Facebook: facebook.com/brettbewealthy

X/Twitter: x.com/bewealthybrett

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🎁 FREE RESOURCES

Some links below are partner or affiliate links. Be Wealthy may earn a commission at no extra cost to you.

Free Tools & Downloads: https://www.bewealthybrett.com/resources

Cost Segregation Studies & 45L Tax Credit: SingleFamilyCostSeg.com

Infinite Banking Education: SaveLikeaBank.com

Self-Directed IRA: MaxOutRetirement.com

Trust & Entity Structure: SetupMyEstate.com

Off-Market Deals & Direct Mail: TheMagicMailers.com

1031 Exchange: Exchange1031Now.com

Bookkeeping & Financial Services: BooksOffMyPlate.com

PPC & Digital Marketing for RE Investors: ScaleMyDeals.com

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🎙 ABOUT THE SHOW

The 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.

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⚠️ 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. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.

🎯 JOIN THE BE WEALTHY MASTERMIND

Want to join a room of entrepreneurs who think bigger about money? Go to bewealthypodcast.com and click Apply Now.

━━━━━━━━━━━━━━━━━━━━━━━

Diversification Makes You Rich. It Won't Make You Wealthy. | Brett Tanner + Katelyn Mitchell

Brett and Katelyn are recording live from Apple Mountain Resort in Georgia, two weeks after their family office closed on the 285-acre property. Before they get into their ten-things series, Brett lays out the argument that most agents and investors build portfolios the wrong way: lots of small bets feel safe, but they'll cap your wealth and bury you in management units. The episode covers five of ten things the wealthy gladly overspend on, and the real estate investor lens runs all the way through it. Brett's 130-unit portfolio versus Apple Mountain's one management unit makes the point better than any spreadsheet. Part two drops next week with the remaining five.

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⏱ TIMESTAMPS

0:00 Intro

0:37 Apple Mountain Acquisition

3:05 Auction Due Diligence

9:44 Three Ways to Make Money

15:36 Concentrated vs. Diversified Bets

18:27 Wealthy vs. Fake Rich

22:42 Four Spending Categories

24:43 Time: Buying It Back

32:12 The Highest Dividend

36:00 Two Scorecards of Life

41:29 Health and Longevity

46:48 Sleep as an Investment

53:17 Learning and Skills

55:06 Paying for Expertise

1:00:30 Building a Mental Model

1:05:14 Kids Education and Exposure

1:08:45 Raising Non-Entitled Kids

1:14:38 Trusted Advisors

1:18:27 CPA and Tax Strategy

1:22:38 Estate Attorney and Fiduciary

1:27:30 Episode Wrap and Preview

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📚 BOOKS & RESOURCES MENTIONED

- The Millionaire Real Estate Investor by Gary Keller

- The Millionaire Next Door by Thomas J. Stanley

- The Psychology of Money by Morgan Housel

- The Almanac of Naval Ravikant by Eric Jorgenson

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🔗 GET CONNECTED

Website: www.BeWealthy.com

YouTube: youtube.com/@bewealthybrett

Instagram: instagram.com/bewealthybrett

Facebook: facebook.com/brettbewealthy

X/Twitter: x.com/bewealthybrett

━━━━━━━━━━━━━━━━━━━━━━━

🎁 FREE RESOURCES

Some links below are partner or affiliate links. Be Wealthy may earn a commission at no extra cost to you.

Free Tools & Downloads: https://www.bewealthybrett.com/resources

Cost Segregation Studies & 45L Tax Credit: SingleFamilyCostSeg.com

Infinite Banking Education: SaveLikeaBank.com

Self-Directed IRA: MaxOutRetirement.com

Trust & Entity Structure: SetupMyEstate.com

Off-Market Deals & Direct Mail: TheMagicMailers.com

1031 Exchange: Exchange1031Now.com

Bookkeeping & Financial Services: BooksOffMyPlate.com

PPC & Digital Marketing for RE Investors: ScaleMyDeals.com

━━━━━━━━━━━━━━━━━━━━━━━

🎙 ABOUT THE SHOW

The 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.

━━━━━━━━━━━━━━━━━━━━━━━

⚠️ 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. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.

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ABOUT THE CONVERSATION

Brett and Katelyn recorded this one on-site at Apple Mountain Resort, the 285-acre golf and residential property their family office acquired two weeks prior. Brett makes the case that diversification is a path to getting rich, not wealthy, and that concentrated bets, executed well, produce the compounding that actually builds wealth. From there they cover the first five of ten things the wealthy actually overspend on: time, health and longevity, learning and skills, kids education and exposure, and trusted advisors. Part two drops the following week.

🎯 JOIN THE BE WEALTHY MASTERMIND

Want to join a room of entrepreneurs who think bigger about money? Go to bewealthypodcast.com and click Apply Now.

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How Wealthy Agents Actually Spend Their Money | Brett Tanner

Most people think rich people win by buying better stuff. They don't. They win because they refuse to buy certain things even when they easily could. In this episode Brett breaks down the five categories the wealthy systematically avoid spending on, from housing to cars to status, and shares the 30-33 housing rule that keeps his own payment under 2% of his income.

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⏱ TIMESTAMPS

0:00 Intro

8:20 Why Wealth Is Subtraction

9:17 #1: Housing

14:48 The 30-33 Rule

16:40 #2: Cars

19:00 #3: Status Spending

24:54 #4: What Doesn't Compound

27:52 #5: Small Leaks

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📚 BOOKS & RESOURCES MENTIONED

- The Psychology of Money by Morgan Housel

- Same as Ever by Morgan Housel

- The Art of Spending Money by Morgan Housel

- The Millionaire Next Door by Thomas J. Stanley

- Buy This, Not That by Sam Dogen (The Financial Samurai)

- Essentialism by Greg McKeown

- Four Thousand Weeks by Oliver Burkeman

- Die With Zero by Bill Perkins

- The Almanac of Naval Ravikant by Eric Jorgenson

- Atomic Habits by James Clear

━━━━━━━━━━━━━━━━━━━━━━━

🔗 GET CONNECTED

Website: www.BeWealthy.com

YouTube: youtube.com/@bewealthybrett

Instagram: instagram.com/bewealthybrett

Facebook: facebook.com/brettbewealthy

X/Twitter: x.com/bewealthybrett

━━━━━━━━━━━━━━━━━━━━━━━

🎁 FREE RESOURCES

Some links below are partner or affiliate links. Be Wealthy may earn a commission at no extra cost to you.

Free Tools & Downloads: https://www.bewealthybrett.com/resources

Cost Segregation Studies & 45L Tax Credit: SingleFamilyCostSeg.com

Infinite Banking Education: SaveLikeaBank.com

Self-Directed IRA: MaxOutRetirement.com

Trust & Entity Structure: SetupMyEstate.com

Off-Market Deals & Direct Mail: TheMagicMailers.com

1031 Exchange: Exchange1031Now.com

Bookkeeping & Financial Services: BooksOffMyPlate.com

PPC & Digital Marketing for RE Investors: ScaleMyDeals.com

━━━━━━━━━━━━━━━━━━━━━━━

🎙 ABOUT THE SHOW

The 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.

━━━━━━━━━━━━━━━━━━━━━━━

⚠️ 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. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.