Are you struggling to build wealth despite a high income? Discover why your relationship with money might be holding you back.
In this episode of Wealthy Wellthy podcast, host Laura Alamery and Liz Klingseisen welcomes Krisstina Wise, a successful real estate investor and money expert, shared her journey from financial struggles to mastering wealth creation.
The main focus of this episode is understanding the crucial difference between income and wealth. Krisstina explained how high earners can still find themselves trapped in a month-to-month financial cycle, and reveals the mindset shifts necessary to build true wealth.
Throughout the conversation, Krisstina delve into her five categories for mastering money, including developing a positive money mindset and cultivating a healthy relationship with finances. She also touches on the importance of financial literacy and how it relates to successful real estate investing.
Ready to transform your financial future? Listen now to gain invaluable insights on breaking free from limiting money beliefs and learn how to leverage real estate investing to create lasting wealth.
—
Top 5 Takeaways From This Conversation:
- Why understanding the difference between income and wealth is crucial for escaping the month-to-month financial cycle!
- How mastering your money mindset and relationship with finances can transform your ability to build lasting wealth!
- Why taking the Financial IQ Quiz can reveal critical gaps in your money knowledge and set you on the path to financial literacy!
- How real estate investing can be a powerful tool for building wealth, but only after establishing a strong financial foundation!
- Why declaring a personal commitment to change your financial situation is the essential first step to achieving true financial freedom!
Here Are My Favorite Quotes:
- “I learned that there’s something different between income and wealth. People in the income game are in the month-to-month game regardless of how much they’re making. Wealth is through assets and building a portfolio and a balance sheet.”
- “Real estate investing is one option. The idea is to ask ourselves: Do I want to master money? Do I want to understand it? Do I want to grow with it?”
- “Most people have a dysfunctional relationship with money. If we want to be in the wealth game and build financial independence, we need a positive money mindset and a relationship where we enjoy spending time with it.”
Time Stamps:
- [5:50] From high income to financial despair
- [11:07] The journey from duplex to portfolio
- [15:25] Five categories for mastering money
- [24:31] Overcoming limiting beliefs about money
- [31:00] Financial IQ quiz to assess literacy
MYTH BUSTED: “High income alone guarantees financial success and wealth.”
Krisstina Wise, despite being a top-producing real estate agent and making millions, found herself in financial despair after a divorce. She realized that even with her accounting and finance degree, she lacked true financial literacy. The breakthrough came when she discovered the crucial difference between income and wealth.
As Krisstina shares, “I learned that there’s something different between income and wealth. And people that are in the income game are in the month to month game regardless of how much income they were making.” The key insight? Building wealth isn’t about chasing higher income—it’s about understanding how to create assets, build a portfolio, and develop a strong balance sheet.
True financial success requires shifting from an income-focused mindset to a wealth-building strategy, emphasizing the importance of financial literacy and intentional money management.
