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

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 6 June 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today.
0:06.0	So I currently have three jobs and spend more than 12 hours a day working.
0:11.0	And I save and invest about half my income. So I'm saving about $100,000 a year.
0:18.0	So financially we're sound, but it comes with a cost.
0:21.6	So I'm not spending enough time with my children, and my health is deteriorating.
0:28.2	Well, I'm not dying, but it's impacting negatively.
0:31.3	How much do you have in savings in your investments?
0:35.2	Yeah, so I, so with, I've been doing this, I've been having three jobs for about five years
0:40.3	now, or going into six years. So you put a half million dollars away? Yeah, exactly. Well,
0:47.3	yeah, exactly. So with that money, I've bought four homes, one primary residence and three
0:52.6	single family homes, and I'm renting it all out right now.
0:55.5	Okay, and what are the three single family homes worth?
0:59.8	Roughly on average, about 600K.
1:02.8	Each?
1:03.3	And I bought it for about yet, correct.
1:05.9	Okay, so the three rental properties are worth $1.8 million and they're paid for.
1:12.5	No, no, no, no, no.
1:14.4	About, about 40, I have about 40% equity on each house.
1:19.1	Oh, so you still have debt on them.
1:21.0	Okay.
1:21.8	Correct.
1:23.1	Okay.
	...

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