Mapping the Path of Money with Matt Plumer

SummaryIn this conversation, Garrett and Matt Plummer discuss the importance of having a financial plan and system in place for real estate agents. They emphasize the need to be intentional with money and to have a clear path for financial goals. Matt shares his personal journey of overcoming addiction and debt, and how he became a financial coach for real estate agents. They discuss the common mistakes agents make with their finances and the importance of having an exit strategy. The conversation highlights the need for agents to think like business owners and to prioritize their long-term financial well-being. The conversation focuses on understanding how money works and taking steps to become financially stable. Matt Plumer emphasizes the importance of mapping the path of money from the time it is earned to the time it is received. He highlights the various factors that can affect an agent's income, such as brokerage fees, commission advancements, caps, and royalty percentages. Matt encourages agents to live on less than they make, avoid debt, and invest in their future. He also emphasizes the need to give, save, and plan for unexpected expenses. The conversation concludes with a discussion on the importance of being a good steward of money and seeking help if needed.

Takeaways

• Real estate agents need to have a financial plan and system in place to manage their money effectively.
• It is important to be intentional with money and have a clear path for financial goals.
• Many agents make common mistakes with their finances, such as not having an exit strategy or thinking long-term.
• Agents should prioritize their long-term financial well-being and think like business owners. Understand the path of money from the time it is earned to the time it is received.
• Consider factors that can affect your income, such as brokerage fees, commission advancements, caps, and royalty percentages.
• Live on less than you make and avoid debt.
• Invest in your future and plan for unexpected expenses.
• Give, save, and be a good steward of your money.
• Seek help and guidance if needed.

Titles

• Common Mistakes Agents Make with Their Finances
• Overcoming Addiction and Debt: Matt Plummer's Journey Investing in Your Future
• Mapping the Path of Money

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