How We Retired Early With $540K At 40 In Colorado
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- Опубликовано: 3 окт 2024
- In 2012, Debbie Emick received a series of troubling diagnoses, forcing her to retire from teaching two years later. She and her husband, Chris, then set out on a path of achieving FIRE - financial independence, retire early. An initial investment of $60,000 grew and they bought 17 rental properties from 2016 to 2019. That income stream allowed Chris to retire from his IT job in November 2019 after they accumulated $540,000 in savings and retirement accounts and $1.1 million in real estate.
Produced by: Lauren Shamo
Senior Managing Producer: Sam Rega
Camera: Jackson House Films
Animation: Gene Kim
Reporter: Ryan Ermey
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How We Retired Early With $540K At 40 In Colorado
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
I’m 77 and still working full time. I do enjoy my work, it provides me with purpose and has secured my financial future. Most people are too eager to retire as early as possible. Even if you do retire early, best to get a part time job for the reasons cited above, as well as following many if not all of the suggestions in this video.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Mind if I ask you to recommend this particular coach you using their service?
Her name is Rebecca Nassar Dunne can't divulge much. Most likely, the internet should have her basic info, you can research if you like.
I looked her up, and I have sent her an email. I hope she gets back to me soon. Thank you
I’m 56 and investing for the first time in my life. I have started contributing to my 401K and opened a Roth IRA with automatic contributions, but my question is, does asset allocation really matter at first, or perhaps I am just overthinking as a beginner?
There’s a lot to decide on… most times it is better as a beginner to delegate your day-to-day investing to a well experienced advisor
I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit the time to analyze stocks myself. I got fully invested since the covid-outbreak, and thankfully, my 6 figure portfolio has 5X in barely 2 years, amassing nearly $273K as of today.
@@williamDonaldson432 good gains! who is the professional guiding you please? enthused about investing for my eventual retirement but dont know how to go about it, for now I only invest in my 401k through my employer and gains are quite slow
good gains! who is the professional guiding you please? enthused about investing for my eventual retirement but dont know how to go about it, for now I only invest in my 401k through my employer and gains are quite slow
Annette Marie Holt is my FA. Just google the name and you’d find necessary deets to work with. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Buying stocks might seem easy, but picking the right one without a solid plan is tough. I've been trying to grow my $100K portfolio, but the tricky part is not having clear plans for when to buy and sell. Any tips on this would really help.
The strategies are tough for average people. They're usually done well by experts with lots of skills and knowledge.
@@danguRobert I agree. From my own experience with an investment advisor, I've got $1 million in a diverse portfolio that's growing fast. It's not just about having money for stocks; you need to know your stuff, stay determined, and be resilient.
@@KesslersArteagas Mind if I ask you to recommend this particular coach you using their service?
@@zubairadamu2477 MARGARET MOLLI ALVEY is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
@@KesslersArteagas Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.
Just to be clear, they're not retired. They're doing amazing, but they are working. Managing 19 properties and other bits of works, is still work, but its not a 40 hour work week in an office, and if this makes them happy this is great.
I was looking for this comment. Lol they just have different jobs. Which is fine. It’s financial independence though which is the point
Wait till all their 19 properties start falling behind and/or not paying. Colorado is rapidly becoming ‘Cali 2.0’.
I agree and came here to say this. I enjoyed their story but it is misleading to call them retired. They own and run a real estate business.
Yes, "financial independence" and "I retired from the job I didn't like, and now work less on one I don't mind" is not the same as "retired."
Thank you! I thought I was losing my mind.
If "retirement" is now defined as working but you enjoy it and it doesn't interfere with your work/life balance, then I guess my wife and I are retired.
I can't wait to tell her the good news.
I've been reconsidering my retirement strategy, questioning if my 401(k) and IRA are enough for a secure future. I’ve also invested $300K in the stock market, but the returns have been inconsistent and modest. I'm now looking for an investment approach that better aligns with my risk tolerance and financial objectives.
Using a 401(k) or IRA is a valuable strategy for retirement planning, providing potential savings growth and tax advantages. While the stock market is promising, expert guidance is essential for effective portfolio management.
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a year now. Starting with less than $200k and being just $19,000 away from making half a million in profit.
Mind if I ask you info on this particular FA you using their service ??
Graham David Fullerton is among the most accomplished portfolio managers in the industry, widely acknowledged for his outstanding work. I highly recommend taking a closer look at his impressive portfolio.
I just checked him out on google and I have sent him an email. I hope he gets back to me soon.
People who are able to retire early are lucky . I have 15 months till 65 and need to look at calling it quits, my only fear is running out of funds much later, thus keen on investing. What could be the safest possible ways to invest for cashflow, in order to afford lifestyle after retirement?
consider investment planning, learning from a well experienced advisor is invaluable
That's right. I am a wife, mother of four and new grandmother, 28 years in Corporate America, retired recently at 57 after discovering the freedom investing could provide, been contributing to my portfolio since the pandemic in early 2020, and have grown a $250,000 savings account to almost 1 million, credits to my investment advisor.
@@mariaguerrero08Impressive can you share more info?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with “Gertrude Margaret Quinto” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Really enjoyed this video. I'm considering your advice, because thousands of dollars have been disappearing from my 401k due to soaring inflation, and my concern is where to safeguard and grow remaining cash about $500k+ for the next 2-3 years at no risk. I'd love to retire early and afford a life after retirement.
I may be unable to offer personalized investment guidance, but then I suggest consulting with a reliable advisor to ensure appropriate investment planning.
I have always believed the stock market is the faster way to growing wealth than traditional retirement funds. But I'm not confident about picking stocks anymore due to personal losses, but I have still have about $89k to invest in the market. Are there really no other options for me to gain from the stock market?
Quite frankly there are actually ways to make high yields amidst volatile times, but such trades are best done under the supervision of a portfolio-coach.
I agree on the issue of having a portfolio coach, but also, patience is your best friend here. I'm a huge investor and cant afford to take the risk of investing by my knowledge, so I rather my portfolio is overseen by a license advisor. Since late 2019 amidst corona-outbreak till date, I'm only about $86k short of closing in a $1m ROI
@@stephenpotter21 Thank you for this!
David Marvin Willis is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Buy shares in index funds. For example if you have your stocks account with Fidelity you can buy FFNOX, FNCMX, FSGGX, FXAIX, etc. They mirror different indexes and track a alongside them. With a good mix of these sorts of funds your portfolio will largely grow at the same rate as the broader American market.
I'm 48, sad to say I made terrible money decisions growing up which I'm presently paying for, been dedicating every waking hours towards my retirement and I'd really love to retire to Portugal with at least $3million by, the market up and down is not helping at all.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can I contact your Advisor as my portfolio is dwindling?
Lisa Ann Moberly a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Hi dear Emily Vancamp.
Glad to hear you that you want to come to Portugal to enjoy tour retirement. Great choice. I'm Portuguese and live one of the most beautiful regions of Portugal: West Coast.
Many French, English and other nationalities are choosing this region because of the quality of life. Honestly I don't think that you need 3 millions to live here. Please let me help you about Portugal, because I can give you the best advices about real estate, cost of living and everything you need to have a good life here. I'm reaching Fire next year, so I can help you
All the best and friendship.
Bruno (Portugal)
I am currently in my 50s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $120k in a savings account that I want to invest in a non-retirement account. Where would you invest this as of now?
Look up, dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, you should work with a financial advisor to help set up a well-structured portfolio.
@@amolejoshua7452 I agree. Based on personal experience working with a financial advisor, I currently have $800k in a well-diversified portfolìo that has experienced exponential growth from when I started. It's not only about having money to invest in stocks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
@@elegboozioma7267 Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
@@FolarinSodiq I'm cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "Victoria Carmen Santaella" I've worked with her for 4 years and highly recommend her. Check if she meets your criteria.
@@elegboozioma7267 Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
This is not true FIRE. It is only half - the financial independence part. This couple did *NOT* retire early! They just changed careers.
I guess it boils down to your definition of retirement. Instead of working the daily grind, they're now maintaining rental properties. Technically yes, it's a different job, but how many less hours per week do they work now compared to before? Even after I officially "retire", I'll probably still pull shifts at the local hardware store just to have something to do.
She's also a part time insurance salesman so it sounds like they traded one daily grind for another.
Managing properties can be a real pain the in @$$ but sounds like they enjoy it enough not calling a job
Agree, they just became self-employed landlords
I am 58 years old and planning to retire next year, yet the prospect of retirement fills me with unease. I extend my apologies to all those who have retired and are now reliant on social security, especially during this challenging period. After dedicating years of hard work, facing unexpected hardships is truly disheartening. It's particularly tough for retirees who lack savings or a support system to rely on.
Indeed, there has never been a more opportune time to grasp the intricacies of post-retirement wealth accumulation, especially amidst inflation. By engaging a proficient portfolio advisor, one can passively navigate a dynamically diverse market. The ramifications of fluctuations in the value of the US dollar on investments, in my view, are multifaceted.
True, A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
That's quite remarkable! I could definitely benefit from the expertise of such advisors. My portfolio has been struggling significantly... Who is the individual guiding you?
The advisor who guides me is Amanda Kathryn Sachs. She is a certified coach and has helped me understand that returns can be generated in both bullish and bearish markets. She provides insights into various aspects such as investing, insurance, ensuring a well-funded retirement, and exploring methods to mitigate investment risks through volatility buffers. I highly recommend looking her up.
This was helpful. Thank you. I checked her website out. I have sent her an email, and I hope she gets back to me soon.
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.
@Zahair O'Brian Do you mind sharing info on the adviser who assisted you? I'm 39 now and would love to grow my stock portfolio and plan my retirement
@Zahair O'Brian I just Googled his name and his website came up right away. It looks interesting so far. I'm going to book a call with him and let you know how it goes. Thanks
David Marvin Willis is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Lourd-Bab However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@Pelham04 Oh please I’d love that. Thanks!
@@Lourd-Bab Clementina Abate Russo is her name
Lookup with her name on the webpage.
I am currently in my 40s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $200k in a savings account that i want to invest in a non-retirement account. Where should I invest it now?
Do some research on dividend aristocrats and choose six to ten firms with over 25 years of dividend payments. Also consider working with an asset-manager to build a strong portfolio.
A good percentage of people do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… now my dreams are getting bigger. Going from ($50k to $600k) is surreal all thanks to insights from a professional.
I thought gains like that are nothing but a pipe dream! mind sharing details of yourmanager please?
She goes by ‘’.Sonya Lee Mitchell’ Look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.
Planning retirement has never been this confusing! First SVB, then Signature bank and now First republic, these are all the signs of yet another 2008 market crash and recession 2.0, so my question is do I still save in the United States dollar, or could this be a good time to buy stocks? So I’m left wondering what 2023 has in store for us investors, I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here,
Everyone needs a different stream of income , unfortunately having a job doesn't mean security due to the high rate of tax , one needs to move ahead their expectation, I would recommend refraining from investing in stocks for now. Instead, it would be prudent to consider retaining a portion of your assets in gold. Alternatively, seeking advice from a financial advisor could provide valuable guidance in this matter.
true, A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
@@MarkFreeman-xi3rk Do you mind sharing info on the adviser who assisted you? been saving for pension since age 18 - company scheme. along the way I hit higher tax, so I added to my company pension with a SIPP (tax benefits) I'm 46 now and would love to grow my finance more aggressively, there are a few cars I still wish to drive, a few mega holidays, etc.
I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance wealth managers you could check out. I have been working with Margaret Johnson Arndt for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.
Thanks a lot for this. I really needed the recommendation, and I would love to move my funds from an existing mutual fund. I'll check her.
The dollar is literally being destroyed / debased / devalued. The best performing asset in the history of the world is BITCOIN. It is by far the best store of value. 10 years from now you’ll be thankful for every dollar you put into it.. My two cents.
Regretting missing out on earlier Bitcoin investments, I kept funds in a HYSA. Now, with $200k to invest, I aim to avoid FOMO and buying at the peak. What's the best approach for a newbie to navigate the market?
I do agree, Investing has gotten difficult especially after pandemic, hence why I decided to use the expertise of an advisor, my spouse kicked against the idea initially, but oh well guess who's best buddies with our advisor now hehehe.
Hello, I'm curious to give this a try. Please who is your advisor and how do I get in touch?
The popular lady Melissa Jean Talingdan comes to mind. You'd find her basic info. on the web to set up appointment as she offers free consultations.
I just ran a search with her name out of curiosity and came across her web page, I wrote her an email hope she replies soon.
Fortunately, I had a college economics teacher that taught me a lesson at 18. That lesson was: for every purchase you make, you can't buy something else. Varied sources of income is wise and especially living within your means. Think about taxes and how you get your income. I made $72k combined net last year and paid no Federal taxes.
Right there with you. I'm retiring early, no debt. Kids are taken care of. Building my dream home on 11 acres, looking over the river valley. there are loads of ways to make a killing right now, but such high-volume near impeccable tradess can only be carried out by real-time experts.
@@gabriellewilson5625 Inflation is over 10% here in the UK, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?
@@gabriellewilson5625 There are a lot of strategies to make tongue-wetting profit especially in this down market, but such sophisticated trades can only be carried out by proper market experts...
@@davidnewbury1721 Tracy really seem to know her stuff. I found her website, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her
@@sheliaswelttk2535 I'm reporting tracy for running these fake RUclips comments and she is going to lose her job
I'm 48, sad to say I made terrible money decisions growing up which I'm presently paying for, been dedicating every waking hours towards my retirement and I'd really love to retire to Portugal with atleast $3million by, the market up and down is not helping at all.
same here buddy, the basic idea is to hold for long term, but I've only got 3years until my 50s are done, Im considering a sort of coach or investment adviser at this point.
Totally, an investment adviser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, my portfolio used to be up and down, but for the past couple years I've been having consistent profit growth scaling from $500k to $1.8million
Well said, I actually signed for a few youtube courses but it didn't help much, a colleague suggested I use a proper financial advisor, how did you go about touching base with your adviser
She's very much accessible to the masses, a quick search with her name Lisa Ann Moberly will suffice, you should do your research.
I usually don't do well with online recommendations, but this Lisa advisor seem to know her stuff, just went through her website and I booked an appointment.
Sounds like they became independent, NOT retired
My dad worked 7 days a week for his entire adult life saving for the dream of living his retirement years in a patio home on a golf course. He got cancer at age 62 and died 3 months later. I learned watching him not to wait for your dreams. I semi-retire next year at 56 and can do what I want after that. The key was to shed consumer debt and live off less than I made while consistently investing from my early 20s on regardless of market cycles. Our schools need to do a better job of teaching personal finance in middle and high schools. Once we realize that all advertising is designed to trick the mind into needing the latest and greatest, it is easy to avoid those tricks and live responsibly below our means.
Spot on
one of the most accurate comments.
It's not in the school curriculum for a reason. They brainwash society to become debt slaves for the majority of their lives. If they opened up everyone's eyes to become smarter spenders and better investors, they'd have very few falling into lifetime debt and making them mega profits
This is the most underrated comment I’ve read this year. It really is as simple as you stated. Great job!
Learned the same from my dad. He got cancer at 60. I'm 25 now. I can't imagine working all my life for other people just so I can maybe become old enough to do what I want. I'm doing what I want now.
I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
@@DavidRiggs-dc7jk Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
@@duane_29 The one effective technique I'm confident nobody admits to using, is staying in touch with an Investment-Adviser. Based on firsthand encounter, I can say for certain their skillsets are topnotch, I've raised over $700k since 2017. Just bought my 3rd property for rental. Credit to ‘’Christine Jane Mclean.. my Investment-Adviser.
@@HarrietBemish Christine’ really seems to know her stuff. I found her online-page, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her.
sounds like you need an advisor. the only other suggestion i have for you if you really want to retire to a warm climate and save money is to look overseas. you can rent out your MN home and maybe retire in a lower cost country with good healthcare. good luck!
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000
Mind if I ask you to recommend this particular coach you using their service?
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Not really a fan of calling this "retirement". They are technically working in real estate. It's important to not call rentals "passive income" as managing the properties, when done appropriately is in fact work. Keeping up with landscaping, maintenance, repairs, and even vetting and evicting tenants are all time intensive. Even when outsourced, they still have to be managed. Really great to see that they put the time in to fix them up before putting them on the market.
I agree, but I think the point is that if they're only working 4 weeks a year (based on what they said), that's close enough to retirement that I think it's fine to get away with calling it retired.
☝️ agreed. Owning rental properties and cash flowing (while having a mortgage on them) is not passive.
@@dakotazx3 it's passive income because the renter is paying the mortgage plus more.
@@joshgomez7522 I'd agree with you if I didn't have rental properties and know first-hand the work they take. Trust me, it's not passive. Additionally, I'd recommend it to anyone looking to build wealth. It's work, but not terribly challenging or risky if you do it conservatively.
@@dakotazx3 again it's passive income but yes it's not passive work
I’m currently retired, but look at my idea considering the current rollercoaster nature of the stock market, I decided to stay on the sideline for awhile, now I’m worried with the numerous bank failures as of late, am I better off reinvesting my savings in the stock market or do I wait?
Given the prevailing market conditions and the potential risks associated with the current economy, I would recommend refraining from investing in stocks for now. Instead, it would be prudent to consider retaining a portion of your assets in gold. Alternatively, seeking advice from a financial advisor could provide valuable guidance in this matter.
I dont think its nice asking here you guys downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
Mind if I ask you to recommend how to reach this particular coach you using their service? Seems you've figured it all out unlike the rest of us.
There are many you could potentially find online. I personally work with Kate Elizabeth Amdall, and she's been spectacular. But there are also many others you could check out yourself.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing..
My rental real estate investments barely cash flowed. I never made any real money until I sold the properties.
My 100s of properties have gone to the moon. Crazy how cheap I bought them for 0% down a couple years ago.
yeah I was really surprised that they only gross 8-10k a month from 19 properties??? how cheap is the rent out there? they should start looking for properties in more affluent places
Impressive video. I started a bit late (graduated from my doctorate program at age 30 in 2016 with 170k in school loan debt). Managed to pay off my debt by 2019 and currently have a house and 250k total in investments (combo of profit share, 401k and a brokerage account). I'm not very knowledgeable with investing, so I have all my capital currently vested in index funds but considering the dollar dumping and current inflation crisis. How optimal would this be beneficial long term?
Ever considered financial planning? There’s a vast amount of ways to yielding a high income in the financial market but that you’d need to pick out an asset first, how much you want to invest & how you wanna invest.
📌Do what everybody else is doing if you are okay with only having what everybody else has.Information that will pay you everyday, you've got to stop saving all your money.
Venture into investing some, if you really want financial stability.
Choose to grow and elevate your mind by studying audios, videos, attending conferences that will give you the edge!
Lately I’ve been thinking of buying cryptocurrency for retirement, I’ve set asides $350k to invest but along the line,I usually get cold feet, maybe because I have no idea what I’m doing, please I could really use some guidelines.
@@stevenwalker2117 In situations like this,I always recommend to people on getting guidance at least from someone that understands price action and all that while you strive on improving yourself by watching videos and learning fundamental analysis.
Investment guidance sounds like a great idea,thought about it before but never knew how to go about it.
@@marcoarigliani3460 I used to invest on my own because of making your money work for you mentality but never made any progress until I sought the guidance of Daniel Christopher Downes and he has made me understand that strategy is everything.
Wow…..Daniel Christopher Downes?
Planning retirement has never been this confusing! First SVB, then Signature bank and now First republic, these are all the signs of yet another 2008 market crash and recession 2.0, so my question is do I still save in the United States dollar, or could this be a good time to buy stocks? So I’m left wondering what 2023 has in store for us investors, I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here,
Everyone needs a different stream of income , unfortunately having a job doesn't mean security due to the high rate of tax , one needs to move ahead their expectation, I would recommend refraining from investing in stocks for now. Instead, it would be prudent to consider retaining a portion of your assets in gold. Alternatively, seeking advice from a financial advisor could provide valuable guidance in this matter.
@@devereauxjnr true, A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
@@MrGravity304 Do you mind sharing info on the adviser who assisted you? been saving for pension since age 18 - company scheme. along the way I hit higher tax, so I added to my company pension with a SIPP (tax benefits) I'm 46 now and would love to grow my finance more aggressively, there are a few cars I still wish to drive, a few mega holidays, etc.
@@freedomisEexpensive-08 credits to NICOLE DESIREE SIMON, one of the best portfolio manager;s out there. she;s well known, you should look her up
@@MrGravity304 I looked up your advisor's full name and she appears to be trustworthy and knowledgeable. She is a fiduciary who acts in any individual's best interests. So I left a message on her website, and I'm hoping she responds soon.
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
My financial advisor is “Vivian Carol Gioia” I found her on a CNBC interview where she was featured and I reached out to her afterwards via her website
Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.
You are not retired, you have a new line of business. 18 units has a lot of work. You may not go to work daily 9 to 5 but you have a lot of things to take care of.
Welp
They're also at terrible risk. A down market or interest rate jump could wipe them out. I don't think they even realise.
How much time does 18 units take?
Hi! I’m excited to be here in your channel and I’m interested in learning more about investing and saving up for my retirement but am a little confused about the whole process. Any advice or tips to get me started up would be greatly appreciated.
Gold and copper remains the best investment to venture in, especially as a beginner, it’s not always affected by the downturn of the market
@@PriyasagMI don’t rust them. They all gamble about the same thing which they are not even sure of. It's a waste of time
True. Am not ready to gamble my money with anyone. That's sick, am looking at spending my savings and I can't afford to lose it.
@sakshimukherjee9963That's absolutely correct. I find Patricia strain as the best fit for the job. She's a well seasoned financial aid with years of experience
@@trungdubais1767Thanks for sharing, I just looked her up on the web and I would sav she really has an impressive background in investing.
I will write her an e-mail shortly.
Owning, managing and maintaining 19 properties is not retirement, it is self employment. Congrats on joining us entrepreneurs, it is a great lifestyle, but like all things, will come with bumps
unless they are hiring a property management firm. But sounds like they live in a nice area where their residents are well behaved and have stable income/jobs. Because in some areas of the country, I would imagine it would be a huge headache (even with having property managers), crimes on the properties, lawsuits, damage to property, town zoning regulation changes, etc.
It is also called leverage and getting money for bearing the risk for the price of underlying asset.
Their properties are spread across the country. They're not managing those themselves
Exactly what I thought.
@@mikea5745 Managing a property is not hard. Remember you don’t to clock in everyday or work 40 hours weeks anymore and when something breaks call the repair man. Also be nice to your tenants and most will be nice to your property. you can also hire a property manager also that is an expenses as well.
Chris worked in IT for 18 years and made about $110,000 a year. Debbie worked as an elementary school teacher for 14 years and made about $32,000 a year.... For anyone that is wondering about becoming a teacher, think twice before getting into it. Without his income she would be teaching for her entire life!
Yeah but the issue is together they made 142K per year!!! That is about 2.5 times the median family income!!!! So they made about 2.5 million in that 20 years. WTF that is low wage earners' lifetime money people!!!!
That is not a lot for a teacher. My sister is a teacher with a masters degree. I dropped out of college and I make 4x what she makes. I could not afford to attend college and did not want to take a loan out for $150,000.
Or she would switch to selling that drought insurance. She makes a killing in one month! I know people that make what she makes in a year!
It depends on where you live. Guarantee at 32K, her teaching job definately not unionized. Also, she didn't say if her teacher position was in the public school system, or private school (which pays alot less). My point here is -- we have no idea the reason for her 32K teaching salary when she quit eight years (2014).
I agree. I think becoming a teacher is noble but not smart. I think teachers deserves more than a livable wage, especially for a job that requires a degree. You’re better off doing literally anything else.
They are not retired by any means, but for some reason, people think just because they don't punch a 'clock' that they are retired, no they just switched gears and started to work for themselves.
It truly annoys me when people say that they are retired and they are not.
Ms. B. Churchill
That's great for them, but for all the young families that want to buy a home and complain about the lack of affordable housing inventory, this couple compounds the situation.
Not hating on the couple but the title of this video is VERY misleading. They’re NOT retired.
And they have 1.2 million in rental properties
As someone who owns rentals… that is not retiring. Very challenging work.
You got that right….they just shifted jobs.
Tell me you've never worked a real job without... telling me
I'm not a huge fan of how they're going about this. Sounds like they're leveraged pretty heavily in this real estate and basically just crossing their fingers that nothing bad happens. But I do wish them the best and hope it continues to go well
This couple is not retired. The title is misleading, as usual, for CNBC Make It.
Owning so many properties as rental property is a job. Rental property is not passive income. Toilets clog up, AC units go out, some Tennants destroy homes etc. etc.
They may like their situation better now than before, and it may be more flexible for them, but they are not retired. Retirement is when you receive an income and do absolutely nothing for it, like a pension payment, or a 401(k) distribution.
Auto immune conditions are never cured, they have ebb and flows. Although she said her condition has improved, since she quit her job, things could make a turn for the worse.
If I were them, I would have worked 10 more years. I would have made sure all rental properties had no mortgages. I would have maxed out the HSA and 401(k).
I hope it works out for them!
She said she retired from teaching, not that she quit. I would bet she took a disability retirement. In Colorado, teachers get a pension they pay into instead of social security.
I used to think every investor went broke during recessions, meanwhile some make millions. I also thought everybody went out of business during the Great Depression, but some went into business. Bottom line, there's always depression for some, and profit for others, it all starts from having the right mindset. That said, I've set asides $250k to invest for future, unfortunately l'm a complete noob.
The market has gone berserk! regardless of experience level, everyone needs a sort of coach at some point to thrive forward.
True, A lot of folks downplay the role of professionals until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
How can I contact your
Asset coach as my portfolio is dwindling?
Can't divulge much, it's only right you do your due diligence. I'm been guided by Olivia Maria Lucas and most likely, the internet is where to find her deets.
Thanks for sharing, I just looked her up online and I would say she really does have an impressive background on investing
They need to start putting net worth in the title, NOT just savings or stock investments. $540k does not buy 19 rental units. $540k does not generate enough passive income to support a family of this life. It took them 1.64 million at minimum
"How I retired with $540k - have $1.1M of real estate". I'm also not buying that the number is that low - 17 properties have to cost on average over $65k each. That has to be $1.1M of equity in the real estate, not the actual value of the property.
The numbers don’t add up those properties don’t make much of anything than. $540 is net and they won’t stay retired long
If they have like 19 units averaging $200K each that is A LOT of debt. I hope they have a plan if the economy tanks and they can't find renters.
Right, the first rental they say 20% down with 60k so that would be a 300k property. With $1,200 mortgage on its own.
So if they have 1.1million in equity they would have 5 million in total real estate value with 4 million in mortgage debt. Costing them about $10,000 a month?
I like how they casually drop in making $23k in a month as a very minor source of income.
Maybe they have property managers resulting in more free time and less income per property.
Good for them, just seems to be missing some details to connect the dots.
This is not retirement. This is switching career paths.
Give a few years before they sell online courses on how to become a real estate millionaire
Yep. Their options are:
1. Go back to work eventually (one day, when their "fool proof" retirement plan collapses)
2. Make money selling online courses on how to become a real estate millionaire
3. Make money through youtube selling becoming a real estate millionaire creative content
4. A combination of 2 and 3
People like these people make me sick. They sell financial fantasies to people who are desperate to retire than is realistically feasible.
Personally, I do plan to become financially independent one day, but probably not until my late fifties or early sixties. Retiring at age 40 requires substantial luck, substantial income, or substantial commitments, or substantial idiocrasy on how much you actually need to retire for a 50+ year retirement and/or urgency for proper debt risk management.
I hope to have $500,000 by age 40, but after future inflation that would not be enough to retire for 50+ years no matter how frugal I choose to be.
@@thoryan3057 They have been "retired" for over three years so it's working for them.
@@beatricerights Wow, a whole three years. Gee willikers, talk about success.
@@thoryan3057 lol you hating bad. They make 8-10k a month on rentals, they will be fine as long as they save some of that money and continue to buy more properties.
If you don't make enough yearly income, it means you work a low skill job that doesn't require extensive training.
Tech
Trades
Healthcare
Pick one and go make your money
@@Wholefoods6671 ".......and continue to buy more properties." You do understand how buying more properties on leverage is MORE risk, right?
These people are not retired. They started a business.
$50k for a home is just nuts. In my market, $50k will get you a garage. Impossible to be cash positive on rentals with a mortgage in my area. Good for them figuring a system that works for them.
Sounds like what they bought all needed full rehabs, so you’d need to factor in those costs (and time) as well.
50K is not even a good down payment in NYC
I have friends in that area. Housing is cheap as heck especially if you're willing to put in some elbow grease on a fixer up.
They didn't figure out anything they got lucky the marker was very cheap in 2016 that's all
My husband and I are in our mid 40s. We decided 20 years ago to live off 1 income. We have about $1.5M now, no debt, and now we travel in our motorhome while he works from the road and I homeschool. We were planning on traveling once we retired but decided to do it earlier with our kids. We like the idea of having the ability to retire if we wanted. I'm teaching my kids to do the same as they grow older. Living off 50% was a great decision for us
I think it’s great. We’re living off of 30-40% of our combined incomes. That said, it is a privilege not attainable to all.
Its great to be married to someone making $180K a year.. So easy.
@@thisguy73 so true
yeah this comment is difficult to understand and relate to others without knowing how much the single job made, but congrats, thats awesome for you guys! consider yourself blessed!
Inaccurate title. They really retired with $1.64 million.
This is inspiring. But at 17 properties to one couple and knowing they are not the only ones doing this…. is the reason many of us cannot buy a first time home.
I really resonate with the statement, "I had been working for a retirement that I may never enjoy"... So often we are future oriented, which is great, however, it is so important to be present, as we cannot predict what life gives us. Thanks for the video, while I know the FIRE movement isn't for me, its great seeing those that are successful in it, and there are bits and pieces that I can take away from it.
Yeah, I have at least 8 more years to go. I plan to retire in my 50’s. I already switched to part time work. Trying to find more time for family.
Right! My aunt worked hard saved money and retired at 66 only to die from stroke 6months later. She could have retired earlier but wanted to save more. My advice is retire early if you can afford to.
The key to videos like these is simply realizing life is simple, less is MORE. Everyone thinks you need to be a millionaire before retiring, but that is not always the case, you just need to think and act like one...
This is why there’s a housing shortage , you don’t want to be a millionaire? Why acquire 10+ properties lol
Because people have to have a place to stay so they are forced to pay someone for that access!!!
Financial freedom.
People prefer to spend money on liabilities,Rather than investing in assets and be very profitable.
You're so correct! Save, invest and spend for necessities and a few luxuries relatives to on's total assets ratio.
This must be an investment with Mrs Maureen K carr
I invested in both stock and Cry ptő but I'm doing much better on Cry ptő with the favourable market price
Such a wonderful personality, you’re totally a genius with your work and you have the best options.thank you for your help Ms Maureen
Seems crazy to have that much debt to make 2k a month on 19 properties. Maybe I'm not understanding this correctly but owning 19 properties with net rental income of 4-6k and monthly expenses 3500-4000. One new roof would wipe out 2 months income. One bad tenant that takes 3 months to get evicted could be a problem.
@Jesse K The way I understood it is their net rental income is 4-6k. That's after the monthly expenses for the properties (including debt service). Their personal monthly expenses are the 3.5-4k so their rental income is enough to cover their personal expenses.
Retired at 55 several years ago, $1m in the bank. More time with my wife. 3-5 trips to the gym each week that I couldn’t do while working. Way less stress. More time for hobbies. Cycled 5,000 miles my 1st year of retirement. Joined a golf league that work travel had prevented. Actually have seen our net worth INCREASE nearly each year in retirement, thanks to no debt and years of dedicated investing with my FA Emily Lois Parker who made me a million after giving her a sum of one hundred and eighty thousand to start. Now i'm able to help my elderly mom more. Way more time spent outdoors with my family. Life is good!
smart, You've done well for yourself miss, It’s all about accumulating wealth through compound interest investment
hi, i'm 49 and already planning ahead for my retirement, i know it's really early but i'm working really hard to retire by 55. I've been working as an accountant for an AUTO company for 12 years and i already have close to 100+ saved but i don't know where to start. Can your Fa invest it for me please? i don't think i can do it myself. please i need a reply
@@ParishBlein I admire your hard work and i must say you're well on your way to retiring early. Look her up, she's not hard to find. Goodluck
@@katelynrenesse4798 out of curiosity i did a quick web search, she has a pretty decent bio, I wrote her and I'm waiting on her reply. Thanks for the tip
@@billcresta Thanks for saving me hours of research, copied Emily Lois Parker on my browser, i'll reach out to her really soon. great share!
Would like to see how you spend 100 a month on groceries with a family of 4.
I agree. I’m as cheap as they come. I buy Walmart gift cards for 2-4% discount and I still spend 135 on groceries. AND I LIVE ALONE. I call bull.
@@TheCreoleSon89 Depends on what they buy. For example I bought spaghetti sauce and noodles and vitamins and so some months were 60$ and others were 80$.
@@donaldlyons17 for a family of 4? If it’s you alone I can understand getting away with 100. They must have animals and a huge garden or go to the pantry. Because that is a very low number. I do buy a lot or produce so I can understand if I just ate beans and rice everyday.
Food banks
Good point!!!
They must have had luck with finding good tenants that pay on time in all thier rentals. All that debt could catch up with them if they come upon bad renters or the housing market crashes. Good for them tho, they seem to have worked hard and achieved thier goals
Exactly, people on youtube made it looks easy but its not.. you need luck to buy cheap and get good tenants that pay always on time.. that's rare
no wonder people are finding it impossible to buy a house in Colorado.
Their hugely leveraged real estate DEBT hanging over their heads is stressful. I wish they shared how much that is and talked about that more. And yes, stop the title about “retired”…they are working as much or more hours now!
I agree with the “retired” part. They just have different job titles which is fine. The first part about their leveraged debt doesn’t phase me as much because they have a significant cash backing. They have over 100k in just liquid to help with any repairs and survive their problems with tenants. I know a few people just taking debt to keep capital flowing. I like their situation but absolutely they are not retired.
@@TheCreoleSon89 great points. agreed that debt isn’t all bad but it also was completely ignored/not acknowledged and is definitely an important part to mention since it still weighs over your head early on in the process
@@FunStuffBuddy oh for sure. I hope they did what they did with the first house and put down 20%. I watched twice and I didn’t see what they did with the next set of houses. I’ll give it one more view to see if it is clarified but I will probably head over to their RUclips channel. Also, did you see she sells insurance too? I thought dang 23k for a month of selling? She must be a beast at selling or in a place with no rain. Haven’t decided which one.
@@TheCreoleSon89 yes!! I was like $23k in one month selling insurance!?! They need to provide the details on that! That’s crazy!
@@FunStuffBuddy because I would do that in a heartbeat. It takes me 1/4 of the year to get that kind of money from working 2 jobs lol 😂
For most people..its better to be a financially independent than being a multi millionaire.
Most people rather be multi millionaire not live frugal and boring like this couple.
Cash flowing rental properties is definitely the fastest way to reach FIRE. That’s how I was able to “retire” my 9-5 by the age of 28. Good job guys!
What’s the likelihood most of your properties will fall behind and/or stop paying?
It happens but you keep reserves for that. Our evictions generally take 60-90 days at the most. The secret to having safe real estate investments is buy in good areas and but bigger buildings. single family homes are not the best IMO when starting out. If that person leaves YOU have to pay the bills. But when you have 6, 8 ,12 unit buildings that risk goes down.@@JimzAuto
You guys are killing me with the red font on the green backgrounds. Colorblind kid is struggling 😂😂
Wish they actually showed their mortgage debt instead of saying that "tenants cover it" as if it's not their obligation
Right, they don't really tell the whole story, but do some calculations the expenses on the rentals are around 50%, so their total loans are around $5k/month on 17 properties. So those are some really cheap properties that are making $500/month in rental income.
This is a beautiful story!!! They look like they are made for each other. Their story is somewhat relatable for folks in IT. Plus they aren't cheapskates!!! Thank you for this video!!! 🎇✨🎉
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
Considering the increased complexity since the 2008 crash and COVID, I suggest diversifying your financial portfolio. I hired an advisor and successfully grew my portfolio by over $150K during this turbulent market using defensive strategies that protect and profit from market fluctuations.
I agree, having a portfolio-advisor for investing is genius! Not long ago amidst the pandemic crash in March 2020, I was really having investing nightmare prior touching base with a license portfolio-advisor. In a nutshell, i've accrued over $550k with the help of my advisor from an initial $120k investment thus far.
@@maryHenokNft Amazing! I hope it's okay to inquire if you're still collaborating with the same fiduciary and how I can get in touch with them?
The decision on when to pick an Adviser is a very personal one. I take guidance from*Gertrude Margaret Quinto* to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
Retired with $2.5 M,, @60 $540K? at age 40 I would dust off those resumes, inflation, and medical insurance with gas and heating bills will eat you up, and so will Colorado housing.
I’m confused on how they were able to live off 50% of his income, if they were buying houses simultaneously
I'm guessing mortgage loans on the houses.
Loans
You need an income to apply for a loan. They gave me a hard time even when I refinanced my home loan. I have enough cash to pay my house off 4x. Not sure why they scrutinized my loan so closely and my credit score is in the mid 800’s.
did u hear the part where they said they tried to spend $100 a month for groceries sometimes?
I've bought hundreds of houses. All 0 percent down loans. No money needed to become a millionaire.
They just turned in to slum lords. 17 rental properties is horrible, thanks for keeping people out of homes and keeping the lower class lower! This isnt making it this is being ok with exploiting your neighbors.
I recently inherited almost $500k. I REALLY need to make this money work for me, and not just disappear over time. All roads have pointed to the equity market of some sort which is a good idea buh where else should I put money besides the equity/stock market?
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
Speaking with an advisor helped me stay afloat in the market and grow my portfolio to about 65% since January 2022, and in a couple months, I was able to earn over $350K in net profit They have strategies that are specifically suited to your long-term objectives and financial aspirations.
My partner’s been considering going the same route, could you share more info please on the advisor that guides you
I started out with an FA called “Lisa Ann Moberly”. Her honest approach gives me complete ownership and control of my positions, and her rates are incredibly affordable given my ROI. However, do your due diligence before contacting an FA.
I looked up the name and came across her web page, I went through her resume and I must say it was quite impressive. I reached out to her and I have scheduled a call with her.
the rental homes racket works until it doesn't and you lose half the value in a crash and are ruined for decades.. ask people who did what you did in the years before 2008
Just so I understand, you bought up 19 houses that could have gone to families to live in but instead are being out priced because people like you guys are buying everything up. Inspiring story guys…
So rare and refreshing to see FIRE with actual children involved. But I don’t see the landlord experience as actual retirement. It’s a lot of work and headaches.
Beautiful journey, one that folks really need to watch. I’m 50, retired a while at 45. I have 35% of my capital investments in an IRA, 25% in index funds, and the balance spread across other investment accounts, in cumulative of over $ 5M. I receive income from my rental properties too. Zero debt and all is going accordingly.
You seem to be doing a bit good for yourself. Do you achieve this via a consultant? because I need a scheme to generate a high yield percentage ROI for me and advise on what that would be. In essence, good investments that'll help me achieve FIRE.
@@gagnecaron658 Oh yes I definitely use a licensed consultant. He places a sizable portion of my capital in fixed securities that generate high in-come for me quarterly like treasury bills, corporate bonds, government securities, and debentures & REITs.
@@robertthurmond8161 Okay please is there a way I could reach out to this consultant? There's certain goals I have for myself before clocking 40.
You’re really killing the FIRE game. I wish to have this someday
His name is James Fletcher Brennan, you can look him up if you want to reach him
I am 37 years old and plan on retiring in 5 years. I have about 1.7 million in my investment portfolio. Started investing at 21 years old. I max my 401k, HSA, and Roth IRA. I own 2 rental properties as well. Single guy no kids. The key here is to be single and invest often!
I'm curious - who is managing your properties? Because managing 19 properties definitely can not be considered 'retirement'... it is a lot of work
When was this filmed? I'm surprised to hear Debbie speak of decreasing mortgage payments in this time of rising interest rates.
She was talking about her mortgage debt overall. As the years pass, she pays down the principle of her mortgages so the amount she owes to the bank becomes smaller. A lot of her mortgages are probably 30 year loans that don't change no matter what happens to interest rates, although i'm sure that not all of them are.
if you're american and you aren't getting a fixed rate mortgage --- you're doing it wrong.
Misleading title. Makes it seem as though the cash flow came from the 540K. Lame
My classmates brother retired at the age of 38 in Colorado. He spent 20 years in the U.S. Airforce and now gets his monthly pension. He saved up and paid cash for his condo, before he retired!
"I just began to realize that I had been working for a retirement I may never enjoy." This is SO impactful for me! It is so true that we bank on making it to retirement age and that's no guarantee! And the fact that being free from the workforce has contributed to better health for her speaks volumes!
Only thanks to her husband's good salary though, if she was single she would have to continue working sadly.
Anyone owning 19 rental properties works more than 4 weeks a year guaranteed. I chose to do the opposite, bought land and built a home, lived there a few years, and bought another piece and built another home. Got both paid off very fast and renting both high end homes, living in another house I built on another property. Having 2 high end properties attracts a different clientèle who actually pays rent, being paid-for generates similar net revenue as their 19, minus the headaches. Everyone says use that the equity and buy more? Why, so I can net the same only with more tenets to deal with?
I think this is cool, but FIRE means to retire early but with so many rental properties it sounds like they will still be managing and keeping up with everything. This is not truly FIRE imo. It sounds like they have reached financial independence more than the “RE” part of FIRE.
Another heartwarming story of people living their dream by buying up real estate so other people can’t live theirs.
23K per month for selling insurance to ranches. That is the real income. That comes to 276K a year. That is good money.
I only caught that she did it one month out of the year. I did not catch that part.
At 38, I made my first home investment, buying at $87k and selling at $197k. The trend continued - my $170k home sold for $320k and a $300k property fetched $589k with buyers covering all costs. It's not about hitting a million before retirement it's about smart investments. My journey began with financial adviser David Marvin Wills, leading to significant portfolio growth in three months. Reinvesting profits, I recently bought my second home and treated myself to a new car for Christmas.
With the current problem around the world today I think it's best everyone invest more in digital asset than Saving in banks and real estate. Just my thoughts
Yeah , I think the importance of investment is highly undermined and overlooked which is probably one of the biggest problem we face today. To me investment strategies should be taught in schools
True! Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. The stock market has plenty of opportunities to earn which I myself took advantage of. I made my first million from going diverse, mainly ETFs(stocks, bonds etc), bitcoin , and gold. I'm also working on an investment plan that includes NFTs with my advisor, Katie . It's been a year and half of steady growth.
Speaking of digital assets do you mean bitcoin?! I don't think investing in bitcoin now is a good idea, I'm currently running on huge loss the market is crashing
@@wanglei7182 this is more reason you should invest with an expert, even with the fall in price I make good profits weekly from my investment in bitcoin. Last week I got a profit of $56,000
@@wanglei7182 digital assets like bitcoin have good potential and are actually the best way to save money cause you are earning will you save unlike banks
I lost over $70K when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I find one source to recover my money, at least $9k profits weekly. Thanks so much Mrs Karen Cosmann.
Mrs Cosmann changed my life because of the high profits I got from investing with her.
@Frank Wells You can communicate with her on telegam with the user name below
investwithcosmann,, that's it
Pretty hard to manage properties in Memphis from CO but let's leave all that detail out.
Taking care of rental property is a headache. It sounds sweet until you get crazy renters. They can be hard to evict sometimes and they can tear your property to pieces. Very expensive to fix back up.
Inflation has entered the chat.
This process might be interesting to people who have never considered the way that real estate might be used as an investment tool, but let’s be clear: This is not a universal solution to people’s financial woes, and the practice has externalities that actually make life worse for the average person. Kind of annoying that CNBC actually presents this as an aspirational financial trajectory without any emphasis on the broader societal consequences. In the context of a limited and diminishing housing stock where poorer first-time home buyers have a difficult time getting a residence, investor opportunists buying up all the real estate (especially the least expensive, small, “starter” homes) so that they don’t have to work anymore makes wider inequalities in home ownership worse. And home ownership is a major vehicle for building generational wealth in this country.
Thanks for glamorizing the process of using the underregulation of our capitalist system to make your fellow man worse, CNBC. 😒 Where would we be without this highest caliber of journalism?
Being a landlord for over a dozen properties, working 1 month a year, writing books and hosting a podcast does not sound like retirement to me.
Retirement means not working 9 to 5 jobs anymore. What they do is retirement. Writing books etc. Is seen as hobby. A fun one
so you want to sleep all day and do nothing??? what does retirement look like for you?
@@ErickaWilliamsCC Travelling the world and not having to worry about 18 properties (or money in general) is what retirement sounds like to me, lol. So many FIRE people seem to also be doing seminars or websites or books or blogs as a side hustle. Not really retirement IMO. But each to their own. Retirement is just financial freedom, but personally I don't think worrying about property rents is true freedom.
So they don't have $540k, they have $1.64M+. Way to make a headline.
Thank you for sharing your story - beautiful and inspiring!
I respect your hustle but love you for the way you work as a team and complement each other. I wish more people from my community can collaborate like this.
$540K would not remotely be enough to retire at age 40. Factor in inflation, health care costs, etc., and it’s not even close.
I got the impression from the video that $540k was what they had in money, not their total net worth. Their net worth is over a million with all their rentals.
A few things. First of all, you are certainly not “retired” as a landlord of 17 properties! Seems like you’ve had luck with tenants so far, but that will change and the constant administration and upkeep of these properties is a huge hassle. And second, I thought she retired due to an auto immune disorder. If so, how can she be working all day physically in a house getting it into renter shape? You can do that but can’t teach? Doesn’t make sense. Anyway, good luck to them but the real money will be made once they’re sold. Until then, this is FAR from retirement.
Usually when properties cash flow like that they don't appreciate that much.
Y'all are jealous in this comment section lol
What I noticed is that all these videos of people retiring early has them still working though not the typical 9-5 job. They make their own hours and decisions. That is fantastic but I think they should say they retired from their 9-5 jobs and not they retired at 40 because even though it’s better they’re still not really ever retired apparently.
Smart, loving, and beautiful family. Glad they're enjoying the best times of their lives.
this is very misleading. they DID NOT retire, they just transitioned into being small business owners. managing rental properties and renovating on your own is still full time work.
That was my immediate thought, not to mention I highly suspect they have a negative net worth with all those properties.
If you have side jobs such as insurance sales, book writing and podcasts, you are not really retired. You just rerouted course with less hours. It is not bad at all but clearly not retired.
Semi retired still has the word retired in it
It's called "semi-retired "
BaristaFIRE is the term for what theyre doing. It's technically impossible to retire under 60 because health insurance is outrageously expensive outside of an employee sponsored plan. It seems like theyll need it as they told us that one of them have a chronic condition.
So you either work a stressless part time job that offers insurance or have side income to fund that
@@ilovegoodsax that is not what is in the title nor what the said in the video.
@@rickyayy that is not the title of this video.