If you dream of early retirement but are unsure of how you can make that happen for yourself, then listen to how we have been able to devise a plan to retire in 5 years, even when we began with ONE MILLION dollars in debt three years ago.
We share the 5 Step Plan you can use to reverse engineer your ideal retirement, whether that’s 5, 10, or 15 years from now. It’s up to you!
#retireearly #retireat55 #FIREmovement
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❎I am not a CPA or a financial advisor. I am a licensed attorney only in the state of Arizona (bar#021923); however, nothing in this video is to be construed as legal advice or create an attorney-client relationship. ❎The content in these videos shall not be construed as tax, legal, or financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a Youtube video for entertainment purposes ONLY. ❎ If you need advice, please contact a qualified CPA, attorney, financial advisor, or the appropriate professional for the subject you would like help with.❎ Linked items may create a financial benefit for Wendy and/or House of FI. ❎ Wendy is a licensed real estate agent doing business as Sold With Wendy in California under DRE #02040758. ❎This is not an advertisement of property for sale. Any mention of properties listed or sale or otherwise shall not be construed as anything other than opinion for entertainment purposes only. .
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Nothing will kill the economy faster than this FIRE movement!
Here is the problem with your calculations. What if something big goes wrong? Stock market crashes, one of the tenants files a large lawsuit against you and wins, there is a major accident or illness in the family that requires substantial funding, or just when you get older and one or both of you needs long term care or a nursing home? Where does that money come from? You can always retire with "just enough" but suppose something does not go according to plan? If was going to retire, I'd wait till I had a large surplus to take care of the unanticipated too.
It’s 25x the annual amount, not monthly – and you would be better off using 30x.
Excellent content and downloads. Sooo good. Just ordered the workbook! Super excited to learn more about FI and put it into motion.
My wife and I are working on paying our house off in 10 years.
Woah! Major kudos to you for having 4 rental properties. I'm definitely hoping to follow the same path as you. I own one property right now and am looking to get another in the next year. Like you, I realized that real estate could be my avenue to achieving FIRE earlier.
Great video. Please could you make a video on how you tackled your debt
We really love real estate too. But we tried doing a rental property and it was so hard to get good tenants and they can damage the property and any fix to a property can be extremely costly. Not to mention collecting rent every month feels like such a chore. I feel like it's a full time job just to manage multiple properties. We're selling our property now that prices are so high and just getting the money out. It doesn't help that the property was our first home and it hurt us so much to see renters not take care of it the way we did. I feel like real estate is a great investment but then the renting part is really frustrating. Maybe we just didn't luck out with getting good long term tenants. I almost want to completely give up real estate investing and just do stocks or something…
You guys are doing good. The only thing I invest in REITS vs physical real estate. REITS are real estate investment trust. I prefer REITS, because I don't have to worry about late rent payments or renters tearing up your properties. Or a renter not being able to pay rent due to a job lost then you will be stuck with a mortgage unless those properties are paid off already. Plus I can get rid of a REIT by the touch of a button or click by selling the stock. Now with your student loans you can get with a service called Green Path. There are also other agencies out there for student loan help also. Not only do I have reits, but I have index funds, bond etf, individual stocks that pay dividends and cash in my portfolio! Good job you guys keep up the good work.
I loved this video! We’re late to the FI community as well (I’m 39, hubs is 43), and we’ve chosen REI as well. Can’t wait to watch more of your videos!
Im so excited to retire!!!
Congrats on attacking your debt. What you've accomplished so far is fantastic. HOWEVER: You can't ignore the steaming locomotive crisis coming at you. Do this: Go to a retirement village and observe the people in their 70's and up. There are zero fat people there. Fat people do not survive. Period. I know it sounds harsh but its true and you need to get control of your health. You have 5 years. Use that. start easy by dropping bread and sodas. that's not even dieting. That's just making easy decisions. Target dropping 1 pound per month and in 5 years, you are 50 pounds lighter. Get an ebike and use it. The ebike is the great equalizer and allows ALL people the ability to ride like a touring pro. You can change the levels of effort to meet your abilities. DO IT! Make weight loss a column in you financial plan.
Where’s hubby ? Working second job ?
This is great that you guys have figured out what you need and made a plan for success. Thanks for sharing
Yay 200 subscribers
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