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.

1. Wealth starts with better decision-making models. High earners still struggle without clear financial frameworks.
2. Burn rate is the foundation of every financial plan. You can’t build wealth if you don’t know what you actually spend.
3. Net worth and passive income must grow together. Tracking both gives a clearer picture of long-term freedom.
4. Housing decisions shape your entire financial future. Being “house rich and cash poor” delays freedom.
5. Saving 20% is the minimum standard. Consistency matters more than perfection.
6. Growing income beats extreme expense cutting. There’s a limit to what you can cut—but income growth is scalable.
7. Wealth is a long-term game. Gamifying progress helps maintain discipline and momentum.

00:00 – Welcome and episode overview

01:00 – Why wealthy people use financial models

05:00 – Business models vs personal money decisions

10:30 – Expectations, happiness, and net worth

15:00 – Why burn rate matters

19:00 – Housing decisions and the 30% rule

24:30 – Net worth targets and retirement math

30:00 – Tracking passive income vs net worth

35:30 – Expense discipline and lifestyle inflation

41:00 – Saving 20% and eliminating waste

47:00 – Gamifying wealth and long-term planning

52:00 – Three-step framework to build wealth

56:00 – Final action steps and closing thoughts

1. Buy This, Not That – Sam Dogen
2. The Seven Day Weekend – Ricardo Semler

1. Be Wealthy Calculator
2. 👉 https://bewealthycalculator.com
3. (Referenced for modeling retirement and children’s Roth planning)
4. Be Wealthy Spreadsheets & Exercises
5. (Brett and Katelyn explicitly state these will be included in the show notes)

1. Burn Rate Tracking
2. 20% Savings Rule
3. Net Worth vs Passive Income
4. Housing Expense Ratios (30% Rule)
5. Financial Models for Life Decisions
6. Gamifying Wealth
7. Income Optimization
8. Long-Term Financial Planning

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👉 www.BeWealthy.com

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