Why the F.I.R.E. Movement Isn’t Sustainable

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 3 June 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth and outrageous generosity. Matt is in Seattle.
0:24.0	Hi Matt, welcome to the Ramsey Show.
0:27.0	Thank you, thanks for having me.
0:29.0	I got a question for you.
0:30.0	So I currently have three jobs and spend more than 12 hours a day working and I save
0:36.7	and invest about half of my income so I'm saving about 100,000 a year. So financially, we're sound, but it comes with a cost.
0:45.7	So I'm not spending enough time with my children,
0:49.6	and my health is deteriorating.
0:52.3	Well, I'm not dying, but it's impacting negative.
0:55.6	How much do you have in savings in your investments?
0:59.3	Yeah, so I, so with, I've been doing this, I've been having three jobs for about five years now or going into six years.
1:07.0	So you put a half million dollars away.
1:10.0	Yeah, well, yeah, exactly. So with that money I bought four homes, one primary
1:15.8	riguans and three single family homes and I'm renting it all that right now.
1:19.4	Okay, and what are the three single family homes worth?
1:21.8	Um, roughly on average about 600 K.
1:27.0	Each.
1:28.0	And I bought it for about, yeah, correct.
1:30.0	Okay, so the three rental properties are worth $.8 million dollars and they're paid for.
1:35.0	No, no, no, no, no, no. About, like 40, I have about 40% equity on his house.
	...

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