Strengthen your family tree. Live financially free.
Author: Andy Hill
Andy Hill is the host of the Marriage, Kids and Money Podcast which focuses on helping young families build wealth. This 5-star rated podcast was nominated as "Best New Personal Finance Podcast" by Plutus. Andy's advice and personal finance experience have been featured in major media outlets like Business Insider, MarketWatch and NBC News.
After 15 years of working as an event marketing professional, I’ve decided that I’m ready for a new chapter in my life.
The companies I’ve had the pleasure of working with have treated me well, given my family benefits and paid me generously. I sincerely appreciate the opportunities I’ve been given. It’s just time for me to follow a new calling.
A lot of us are hard-charging employees, side hustlers, or business owners who are looking to grow, get that promotion, or just make more money. But we can’t forget the most important people in our lives: our spouses and our children.
Today, we’re going to talk about how we can practice putting family first and how it’ll help us be even more successful in our financial lives.
Jon Vroman is my guest today. He’s married to his wife Tatyana and he’s a father to two energetic and playful boys, Tiger and Ocean, and they live in Austin, Texas.
Jon is a bestselling author and the founder of a global network of men at Front Row Dads. They believe in being family men with businesses, not businessmen with families.
Our first question of the month comes in from Christie from Cincinnati:
I love the podcast. I have two questions.
How long have you been on Dave Ramsey’s Baby Step 7?
We are on Baby Step 7 with 1 paid-for rental. We are considering selling the rental property and just investing in a mutual fund instead.
I know you keep talking about buying a rental, but after 8-10 years we are finding it really isn’t making as much money as we think the stock market could. And we won’t have to worry about tenants calling with a problem.
During late 2013 while I was traveling out-of-town for work, my wife Nicole found our “forever house”.
This home had everything she was looking for including an attached garage, open floor plan, updated kitchen, walk-in closet and a big backyard on a half-acre lot. She told me that this was THE ONE and as soon as I got home from out-of-town, I had to see it.
My wife has excellent taste and the majority of the time we are in sync. I wasn’t worried about liking it. I was worried about getting a BIG MORTGAGE to pay for it!
Honestly, I had been burned before. My first home purchase was a disaster.
I bought more home than I could afford in 2004 and when the housing market tanked in metro Detroit around 2009, I owed more on the house than it was worth. I did not want to be in that position again.
Surprisingly, when I got a look at the house Nicole found, I loved it too. It felt like home instantaneously. Even the neighbors were perfect.
We decided to go for it.
BUT… I had a few rules that we discussed to ensure we would pay off our mortgage in 5 years:
A lot of young parents are looking for a flexible work schedule so they can spend more time with their kids. Creating a business that provides your family with a good income and the flexibility to work where and when you want starts to become an ideal situation.
Now, this isn’t an overnight thing. You have to work hard, you have to hone your craft and dedicate years to grow it, but over time the hard work can pay off big.
Our guest today, Monica Louie, found out a way to create a business from home that allows her to spend more time with her two young children, husband and still make a multi-six-figure income.
Her story of family and entrepreneurial success has been featured on the Smart Passive Income podcast, Thrive Global and Forbes.
For our Fintech Spotlight segment this month, we are featuring our sponsor Roofstock. A company that makes investing in single-family rental properties radically simple.
I’ve invited the Director of Retail at Roofstock, Zach Evanish to tell us a little bit more about this online real estate marketplace and how it’s helping new and seasoned investors build wealth. We’re also going to discuss long-distance real estate investing and why it’s not as scary as it sounds.
Charitable giving can feel difficult or even impossible when we’re in debt and barely scraping by. When we’ve lifted ourselves up to a position of financial strength and confidence, giving back feels like the right thing to do.
Sharing the wealth with our neighbors in need is a privilege and an honor.