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Cheri has a net worth of over one million dollars which includes about 500K of equity in seven rental properties. She and her husband are self-employed and have never made over 75K annually. She shares her amazing story of perseverance, reinventing oneself, and financial savvy. Her goal is to have all seven rentals paid off in five years and reach a net worth of over 1.5 million.
Gender Female
Age 49
Profession Self-Employed – Owns small business
Net Worth 1M
Allocation
Retirement Accounts 374K
Home Equity 139K
Other Real Estate 500K
Cheri – Thanks for sharing your story! Always appreciate hearing stories of families who are able to accomplish financial independence while navigating everything life throws at them. Wish we could of heard more about your parenting approach for 5 kids with morals & money as I am sure you have lots of knowledge and experiences to share.
Clark & Jace – What you guys are doing is amazing! You are my favorite financial independence podcast because the guests are the focus. There are many paths that lead to financial independence and your show subtly highlights that it can all be traced back to being happy living below your means, investing the rest, and always searching for financial knowledge. I love how you let the guests share their story and leave the audience to listen and critically think on the examples vs. plugging a formula, method, or agenda of your own.
Thanks! That’s the goal – share the stories of millionaires! We’ve definitely picked up a lot as will anyone who listens to many of these episodes. Thanks for listening!
Maybe I missed it but what is your average annual spending and annual investing to make that <$75,000/year income work?