But also in the meantime was reading some other authors like jumble go on investing and Ron blue. Dave Ramsey went through his financial peace, course. So it really was kind of, we had that common goal of, okay, let's sit down and figure out what's important to us, and then work towards that goal together.Įlle Martinez: Wanting to go a different direction with their family finances.ĭeacon and Kim started looking for inspiration and ideas, books, and sites to help them get out of debt.ĭeacon Hayes: Hawaii. We knew that if we were in this debt, that those things weren't possible.
We want to have results where we are able to start a family and buy a house and, you know, go on nice vacations and be able to save for retirement and potentially retire even early, you know? So we knew that if we were to continue doing the things that we were doing that were going to have similar results, you know, we're like, oh, we don't want the results. Dumping Over $50,000 of Debt Fastĭeacon Hayes: We both just came from bad backgrounds, you know, from our, from a family standpoint of you know, our families didn't handle money well. I would have been hopeful, but in the back of my mind, I would have thought that's just too big.īut when you break down your goals into chunks and you work out a system together, which for us included automating, you can see results over time, like possibly retiring early. But the point is, if you would have asked me like five years ago, this is where we would be at, I'd say no way. Which sounds ridiculous even saying that, but there it is well tucked away where we don't access it. And now our investments have grown by little, over a hundred thousand. But once that was done, we directed some of that money towards a 401k and the IRAs. I logged into our Personal Capital account to get a snapshot of what's been going on in the last five years.Īnd something that surprised me was how far we came with investing five years ago, we had lot more debt. And where do you want to be in five years?ĭoes it seem like there's a huge gap between today and in the future? The Journey from Dumping Debt to Financial IndependenceĮlle Martinez: Where are you guys now, financially speaking. The Shockingly Simple Math Behind Early Retirement.Setting Up Your Retirement with the Right Tools.Financial Independence Through Big Wins.Retire Early By Rethinking Your Priorities.If you’re looking to get ahead with your finances as a family, here are more resources to check out! planning and following through financial independence.
the system they used to keep one another in the loop with money.how they managed to pay off $52,000 in debt in 18 months.We're getting into how he and his wife Kim made this transition from being in debt to working their way towards financial independence. Today Deacon Hayes, personal finance author and Well Kept Wallet founder, is on the podcast. For Deacon and Kim, seeing this amount of debt was a turning point.
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