Online Marketing Tools

The middle class has been steadily shrinking since 1971. According to the Pew Research Center, however, roughly 50% of Americans still fell into this category in 2021. While defining each class is tricky, there are several clear indicators separating the middle class from the truly wealthy. Perhaps the most obvious sign is the amount of income or net worth an individual has gained. But there are other, lesser-known signs as well.

Whether you’re just starting out in real estate (congratulations!) or making the switch from another career, there’s a lot of excitement in store for you. You’re in a field with absolutely no financial ceiling and unlimited earning potential—but there are also many expenses that you’ll have to prepare for. I get asked a lot about how to set a budget, so I’ve put together a plan to guide you. Here are the four important expense categories to prepare for, and exactly how to prioritize them.