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How they paid off $200,000 in debt in 5 years | Mr. and Mrs. rich & REGULAR

How they paid off $200,000 in debt in 5 years | Mr. and Mrs. rich & REGULAR

FromFire Drill


How they paid off $200,000 in debt in 5 years | Mr. and Mrs. rich & REGULAR

FromFire Drill

ratings:
Length:
45 minutes
Released:
Sep 19, 2018
Format:
Podcast episode

Description

Would you be able to pay off $200,000 of your mortgage in 5 years?

Julian discovered FIRE in Graduate school, and this is what pushed him and his wife to pay off their debt in such a short time-frame. They are very disciplined, although they always allow space for luxuries. They currently use rental properties and a very high savings rate to reach their FI goal.

You'll love how inspiring that story is.

We also chat about...

Their ideal FIRE journey
Their budget and luxuries they allow
How they use real estate to increase their wealth
How they cook regularly
The obstacles when talking about FIRE within the African American community

Enjoy this chat with Mr Rich and Regular, and please subscribe to us in iTunes if you enjoyed it!

Show notes and links from today's episode

Instant Pot
Blog: Rich and Regular
Mr Rich and Regular on Instagram, Facebook and Twitter
FIREDrill Podcast Facebook Group

Key takeaways from our chat with Rich and Regular
1 - FIRE is about doing more
Mrs Regular explains her ideal FIRE life means doing more of what she loves. This means more giving and helping, more travel and more time solving the problems that really matter: poverty, climate change and others.
2 - The small luxuries are important too
Although they are very disciplined with their budgets and save 50-70% of their income, Mr Rich and Regular always allow space for luxuries; a $3 soap instead of a $1 one, good and healthy food and the right gadgets. They also plan on moving to bigger house since their kid is taking up a little more space than they expected.
3 - There are obstacles to reach FI in the African American community
Mr Rich and Regular explain the attitude of their close family and friends when they talk about FI with them. Because of the harsh history, their family always expects them to help out since the community of taking care of each other is still there. Most don't understand the dream of FI and how to get there.
Questions? Like or dislike? Leave us a comment!
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Released:
Sep 19, 2018
Format:
Podcast episode

Titles in the series (97)

Join host Julie Berninger on FIRE Drill podcast where she interviews guests with epic side hustles, real estate investors, early retirees, online business owners, and other inspiring people rocking financial independence. All things Early Retirement are broken down into simple, actionable steps for the average person. Step up your money game and renew your money philosophy with Fire Drill podcast.