Welcome to "Wealth Within Reach," the podcast where we challenge conventional wisdom on wealth-building and empower you to achieve financial freedom. I’m your host, Erica Brown—real estate investor, homeschool mom, and serial entrepreneur. Today, let's dive into how to rethink money, leverage it as a tool, and build a legacy.

Money as a Tool, Not an End Goal

I recently read a story by Sheila Johnson that perfectly illustrates the power of using money as a tool. Sheila was driving down a country road in Virginia when she saw a Confederate flag at a store. Instead of complaining about it, she bought the building. She transformed it into a community gathering place, turning a symbol of division into one of unity. That’s the power of money used with purpose.

When we see money as a tool rather than an end goal, our mentality shifts. Money becomes the hammer and nails—what are you going to build with it? If you’re only working to get money, you’ll be building forever without ever feeling satisfied.

The Highs and Lows of Earning Potential

As a former music artist, I understand that some professions have limited windows of high earning potential—whether you're an athlete, musician, or entrepreneur. This makes it crucial to view money as a tool. Remember, busyness does not equal success. You can be constantly busy but still not productive. It's about making smart, focused moves.

The Value of Rest and Focus

For a long time, I felt like I had to be constantly busy to make progress. This led to insecurity and imposter syndrome. But rest is vital. Overextending yourself leads to burnout. Learn to ready, aim, fire—not ready, fire, aim. Focus on what matters: time and relationships. We often work to make money for more time with loved ones, but we shouldn’t sacrifice one for the other.

Separate Business and Personal Finances

A common mistake in real estate is not separating business and personal finances. This is a huge liability and can cost you tax benefits. When you separate them, the IRS views your real estate business as a legitimate enterprise, allowing you to maximize tax advantages. I even get tax refunds because I manage my finances correctly. Those refunds are reinvested into more real estate, creating a cycle of growth.

The Power of Focused Learning and Investment

Invest in your own transformation. For years, I thought I could do everything myself. It wasn't until I hired a coach and joined a mastermind program that I saw significant progress. I moved from a net worth of $735,000 to over a million dollars in less than a year. Yes, investing in expertise can be scary and costly, but it saves time and money in the long run. Collaboration at the top replaces competition. We’re all figuring it out together.

Collaboration Over Competition

One myth I want to dispel is the fear of sharing your ideas. The truth is, at the top, there’s more collaboration than competition. What is meant for you will always be yours. Be a cheerleader for others, give advice, and support opportunities. This mindset attracts like-minded people who will cheer you on in return.

Mental Health and Financial Security

Having a steady income from real estate has significantly improved my mental health. It provides the security to take breaks when needed. Mental health can be unpredictable, and having financial control allows for better management of those ups and downs.

Final Thoughts

Remember, wealth-building is not just about accumulating money—it's about creating a legacy, making smart investments, and prioritizing what truly matters: time and relationships. Separate your business and personal finances, invest in your growth, and embrace collaboration.