In this episode, Kirsten Flory discusses effective strategies for building wealth, focusing on three key areas of income: primary job, long-term savings, and passive income. She emphasizes the importance of creating passive income through skills, online sales, and real estate investments. Kirsten shares personal experiences with utilizing home equity and refinancing, highlighting how to leverage home ownership for financial growth.
Key Takeaways:
- Building wealth is a common concern, especially among women
- Focus on three areas of income: Primary job, long-term savings, and passive income
- Passive income can be generated through skills, products, or investments
- Selling online is a viable way to create additional income
- Real estate can serve as a powerful passive investment strategy
- Understanding home equity is crucial for financial growth
- Asking questions is essential in the wealth-building process
- Refinancing can lower monthly payments and provide funds for investments
- Investing in a home can be a first step towards real estate investment
- Wealth building provides choices and opportunities for creativty and community support
Kirsten Flory is the President & CEO of Foundations Commercial Real Estate and host of The Small Business Mindset
www.kirstenflory.com
