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.
Our question of the month comes in from Wes from Virginia:
I’ve been married for 5 years and have a 2 ½-year-old daughter.
My wife and I have paid off $40,000 in debt but we still have $100,000 in student loans to go.
I want to find a side hustle to help us accelerate our debt pay off, but with my responsibilities at home, I’m looking for a work-at-home opportunity that pays $30 or more per hour to be worth my time to spend away from my family.
I’m willing to put in a little work upfront to learn some new skills and even open up a new business if needed.
I wanted to know your opinion on where I should focus my efforts. Thank you for your time and keep up the good work!
As career-driven individuals and busy entrepreneurs, we can get often caught up in the time-consuming race of constantly growing our income and expanding our businesses.
While our motivations may be pure, there can be long term consequences to focusing more on your work than on your family.
Our guest today knows this reality first hand.
Jim Sheils is the founder of 18 Summers, which specializes in live events, workshops, and private consulting for organizations looking to strengthen their family lives while still succeeding in business. He’s an in-demand public speaker and owns a private real estate company that has done more than $200 million in transactions.
He’s also an avid surfer and enjoys traveling with his family and friends, especially his wife, Jamie, and their four children.
Hello all! Andy Hill here … We have a new guest post from Logan Allec from Money Done Right. Logan is a CPA, real estate investor, and full-time personal finance blogger. His article below shares how his life changed when he became a father. I can definitely relate! I hope you enjoy!
There’s no question that having a baby changed my life. I just wasn’t quite prepared for the impact it would have on my finances.
I was definitely prepared for all the expenses of having a newborn. However, I also found myself adjusting my long-term financial goals in a way I hadn’t expected.
If you’re a new parent — or are about to become one — you might find yourself thinking about new financial goals that probably weren’t on your mind before. You might also realize you have a different mindset when it comes to money.
Everyone’s experience is different, but here’s how the birth of my son changed my own financial goals.
For this month’s Mortgage Freedom series, we’re talking with the McCoy Family! They partnered together to pay off their mortgage early.
In the 3 years that I’ve been doing my podcast, I’ve never interviewed both parents and kids together! That’s what we’re going to do today.
J’Neal, Jeremy, Jensen and Miller McCoy are from Nixa, Missouri. J’Neal works at the local technical community college and Jeremy is an Assistant Principal at the local high school. And Jensen and Miller are currently working their way through 6th and 4th grade.
So you’re ready to pay off your mortgage?! Congratulations!
There are some important hoops you have to jump through to make this momentous occasion official. After all that hard work in paying your monster loan, let’s make sure you cross all your “T’s” and dot your “I’s”.