Episode description

Welcome back to the REI Mastermind Network! In this episode, we have the pleasure of welcoming Dustin Serviss to our show. Dustin is a wealth manager who has a fascinating journey from civil engineering to the world of finance. With a strong emphasis on continuous learning and improvement, Dustin shares his insights on investing, building a thriving business, and creating a life of financial abundance.

Dustin's extensive background in various mastermind groups has allowed him to surround himself with like-minded individuals who share his passion for working with money and seeking new financial opportunities. He emphasizes the importance of good practice and consistency in approaching wealth management and how it has contributed to his success.

We dive into Dustin's realization about the value of credentials and how they positioned him to add significant value to his partners in acquiring high net worth clients. Through his experiences, he reveals the concept of the "bare ass minimum" (BAM) and the importance of examining our expenses and financial habits to attain a more intentional and fulfilling life.

Pulling from personal experiences, Dustin discusses his journey in real estate, the impact of beliefs and mindset on wealth creation, and the importance of risk management in financial planning. His unique insights shed light on various strategies that can help individuals optimize their finances and live a more prosperous life.

Join us in this enriching conversation as Dustin shares invaluable wisdom and practical advice to help you navigate the realms of wealth management and set a solid foundation for your financial future. Stay tuned for an episode filled with strategies, insights, and inspiration on the REI Mastermind Network!

Connect with Dustin Serviss: https://servisswealth.com/

Introduction to the New Wealth Mindset

• Definition of the new wealth mindset
• How experiences and beliefs shape our wealth mindset
• Influence of parents, people in our lives, and books on our beliefs

How Beliefs Shape Financial Behavior

• Personal belief about hard work and saving money leading to success and happiness in retirement
• Influence of the speaker's father's hard work on their belief system
• Natural inclination towards trying new things and self-improvement

Journey to Wealth Management

• Studying civil engineering while trading stocks during the day
• Transitioning to a career in wealth management
• Experimenting with personal money before investing client money or venturing into real estate

Importance of Community and Mastermind Groups

• Being part of mastermind groups with like-minded individuals interested in dealing with money and financial vehicles
• Finding support, guidance, and accountability within the community
• Sharing knowledge and experiences with others in the field

The Accumulation Zone and Risk Management

• Opportunities in the accumulation zone and the need for quick action
• Risk management for quicker offense instead of defense
• Managing risks in the accumulation zone for financial stability and mental health

Understanding and Analyzing Expenses

• Introduction to the BAM (Bare Ass Minimum) concept for essential expenses
• Overcoming fear or reluctance in examining personal expenses
• Reviewing and highlighting recurring expenses on monthly statements

Aligning Spending with Goals and Values

• Importance of considering how spending habits contribute to specific...