37: Paying Off Student Loan Debt with a Median Income and Two Kids in Northern California with Kyle Renke

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.5 • 3K Ratings

🗓️ 10 September 2018

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Kyle Renke graduated from college and hopped right on the American dream bandwagon. He started off with a starter house, added a couple of kids and moved onto a bigger, better house—one that he could barely afford. He then went back to grad school, tacking on another $40k in student loans. Kyle and his wife spent money left and right, never seeming to be able to get ahead. Finally, he got sick and tired of being sick and tired. Kyle read books and connected with friends in a better financial position. He sold the big house, threw everything at the student loans, and rented a smaller, MUCH less expensive place. Kyle’s story shows that you CAN make big financial mistakes, change your course, and work toward financial freedom—even with children. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the BiggerPockets Money Podcast, show number 37, where we interview Kyle Wrenke.
0:05.2	So there were a few things that kind of pushed us over the edge to make a change.
0:09.7	The first being that we were just, as Dave Ramsey says says sick and tired of being sick and tired.
0:15.0	We were just pushing ourselves emotionally, obviously financially, even spiritually just we were drained and we were kind of redlining it the whole time and we it just
0:25.0	didn't have the margin or the reserve to really kind of redlining it the whole time and we just didn't have the margin or the reserve to really kind of focus on what we wanted to do.
0:30.0	It's time for a new American dream, one that doesn't involve working in a cubicle for 40 years, barely scraping by.
0:37.0	Whether you're looking to get your financial house in order, invest the money you already have, or discover new paths for wealth creation. You're in the right place. This show is for anyone who has money or
0:47.4	wants more. This is the BiggerPockets Money Podcast.
0:50.8	How's it going everybody? I'm Scott Trench. I'm here with my co-host Miss Minnie Jensen.
0:54.6	How you do today, Mindy?
0:55.8	Scott, I am having an awesome day. It's beautiful outside. It's about 85 degrees and just feels
1:02.0	awesome.
1:02.8	Yeah, I'm very excited to interview Kyle.
1:05.0	I mean, what a fantastic episode we have coming up today.
1:08.0	I love his story.
1:11.0	We got connected with with Kyle through David Green, who is the new co-host of the
1:16.4	Bigger Pocket's Real Estate Podcast. And David said, you know, this guy has a really great story.
1:20.6	I talked to him like this guy has a really great story. I want to get him on the show. We have been going back and forth and I'm so
1:27.4	excited that today we finally connected and had an opportunity to have him on the show. I just I love what he talks about the focus of his show
1:36.1	is it doesn't matter what you've done in the past you can still turn your finances around and move towards financial independence.
1:44.7	He's 34 years old, so he's not a spring chicken like you, but he's also not super old like me.
1:51.0	But he had made some choices that weren't the best financially.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.