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Radical Personal Finance

668-An Immigrant Success Story: Broke to Financially Independent in 12 Years

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Self-improvement, Business, Education, Investing

4.21.9K Ratings

🗓️ 18 September 2019

⏱️ 65 minutes

🧾️ Download transcript

Summary

My guest on today's show moved from India to the USA as a young man. Starting with no money, he became financially independent in about 12 years.

In today's interview we dig into the strategies and tactics that worked for him.

Enjoy!

Joshua

Transcript

Click on a timestamp to play from that location

0:00.0

What can a radical personal finance show dedicated to providing you with the knowledge, skills, insight, and encouragement you need to live a rich and meaningful life now while building a plan for financial freedom in 10 years or less?

0:11.0

My guess today is John, you told me that you've done that, right?

0:16.3

You have built financial freedom in 10 years or less, right?

0:19.4

So we're going to hear your story.

0:20.7

Definitely, and it's not 10 years or less less maybe that's because I chose to live in an

0:25.4

expensive part of the country that is Silicon Valley so it took me a lot longer and of

0:29.8

course I was not as frugal as I could be in the initial days and I still am not so it

0:34.4

took me slightly longer 12 years but I think it would be an interesting

0:37.3

episode for your listeners. So you were born and raised in India. That is correct.

0:41.2

So tell us your story of how you ended up in the United States and

0:44.7

then tell us a little bit about your financial freedom journey. Sure. So I was born in India and I think

0:50.3

the advantage of being born in India is the fact that it has a pretty good demographic

0:55.9

in terms of the urban area speaking English so at least that outlet is there.

1:00.6

But I think also in the fact that I was born in a stable family where my parents were always focused on education

1:06.8

Ensure the fact that I was always keeping up with my grades making sure that while the other kids were out parting or having fun, I was like, oh, let me do my homework,

1:16.7

let me keep up with the studies, because I think with India and most of other Asian countries which are highly

1:22.4

populated, you either need to be at the top 10 or 20 person if you want to be somewhere in life, or you just like stagnate and kind of like live along.

1:31.0

So are you the doctor or are you the lawyer which one are you

1:34.4

oh neither actually I'm the engineer oh you're the engineer and your brother's the doctor

1:38.3

no actually the weird part is he took science as well and then he came along into the similar kind of fields but yeah I think yeah those are the similar

1:48.4

Kind of areas which you can go a doctor a lawyer and engineer and those are kind of the respected professions because way

1:54.7

back when I was in India growing up it was a very close economy I would say and these were the professions

...

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