Episode 359: How these Two First-Gen Latine Siblings Went From Paying Off Debt to Six Figure Net Worths

Journey To Launch

Jamila Souffrant

Finances, Business, Realestateinvesting, Entrepreneurship, Earlyretirement, Investing, Budgeting, Wealth

5 • 1.7K Ratings

🗓️ 31 January 2024

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week on the Journey to Launch Podcast we’re featuring Israel and Sunem Tovar, two first-gen Latine siblings who empower people to use money to live their lives on their own terms. They discuss their financial journeys & achievements by sharing how Israel built a six-figure net worth by the age of 26 on a teacher salary and as a first-gen, openly gay latino, and how Sunem built a $250,000 investment portfolio and holds a Master's in finance.

Despite attending prestigious institutions, Israel still felt that he initially lacked financial literacy. Sunem also reveals that she didn’t learn much about personal finance while pursuing her Master’s in Finance. It was through their siblings sharing information with each other that they discovered personal finance blogs & podcasts which helped them save, invest, pay off debt and start the journey towards financial independence.

In this episode Israel and Sunem discuss:

Their backgrounds, experiences with education, and how they navigated financial challenges.
Israel’s journey to building wealth, starting with a $45,000 teaching salary, buying a house, and making strategic financial decisions, such as living with roommates and aggressively investing in retirement accounts.
Sunem’s experience of paying off $42,000 in debt, managing multiple side hustles, and transitioning to aggressive investing.
Their upbringing in a Latino culture that emphasizes strong family bonds which shaped their desire to share knowledge with their siblings and build wealth together
The ethical considerations of investing in real estate, the importance of being intentional with spending + so much more.

Check out the video to this episode on YouTube below or by clicking here: https://youtu.be/fhU2Q_z3Z5A

Other Links Mentioned in episode:

Get The Budget Bootcamp for FREE
Check out my personal website here.
Join The Weekly Newsletter List
Leave me a voicemail– Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
YNAB – Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 34 days trial of YNAB, my go-to budgeting app by using my referral link.
What stage of the financial journey are you on? Are you working on financial stability or work flexibility? Find out with this free assessment and get a curated list of the 10 next best episodes for you to listen to depending on your stage. Check it out here!

Connect with Israel & Sunem:

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Transcript

Click on a timestamp to play from that location

0:00.0	Building wealth for ourselves is kind of anti-capitalist too because we get to use that money to rest.
0:08.0	We get to use that money to become financially independent. We're're like we're getting out of this
0:14.2	we're getting out of what capitalistic society tells us that we have to always be
0:18.4	productive we can't rest and so like when we get our money right we can buy our time back and rest and like do whatever we
0:26.5	want.
0:27.5	T minus 10 seconds.
0:29.9	Welcome to the Journey to Launch Podcast with your host, Janila Sufrant, as a money expert who walks her talk.
0:37.0	She helps brave journeyers like you, get out of debt, save, invest, and build real well.
0:44.0	Join her on the journey to launch to financial freedom in five, four, three, two, 2.1.
0:59.7	If you want the episode, show notes for this episode,
1:02.3	go to Journey to launch.com or
1:04.4	click the description of wherever you're listening to this episode. In the show
1:08.7	notes you'll get the transcribed version of the conversation,
1:12.8	the links that we mentioned, and so much more.
1:15.8	Also, whether you are an OG journeyer
1:18.1	or brand new to the podcast,
1:19.8	I've created a free jumpstart guide
1:22.2	to help you on your financial freedom journey.
1:25.1	It includes the top episodes to listen to, stages to go through to reach financial freedom,
1:29.7	resources and so much more.
1:31.6	You can go to journey to launch
1:33.4	dot com slash jump start to get your guide right now
	...

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