This teacher who retired early is navigating FIRE after divorce | FIRE Starters: MarketWatch

Joe Olson and his then-wife, Ali, left teaching at 29 after living frugally and investing in Las Vegas real estate. After three kids, a move to Seattle and a divorce, Olson has asked himself the same question he had when he first retired early: Will I have to go back to work?
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[@dpbass8898]

Just watched this whole series tonight. I’m 33 years old and just worked about 13 hours today. I’ve been feeling burnt out and having feelings on giving up but watching these videos reminds me why I work so hard and also reminds me of why I don’t have a fancy car or expensive things. I’m feeling better now. I needed this inspiration.

[@marescristian4920]

Yoi are not alone my friend!

[@reymoneytalks974]

your not alone Im done with tax season lol

[@dpbass8898]

Haha yea audit season here too

[@gregorypeterson9]

Yes, I understand been working two full-time jobs for a while....after awhile you feel like a hamster on a wheel going round and round.

[@danieljamal3709]

To new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless.

[@helenoliver4838]

Agreed. I've traded for several months. I barely knew anything about the markets when I started but recently, a friend advised I get a financial advisor that has good experience. I did and things changed. My portfolio grew by 150% in 8 months. How was she able to achieve that? She invested my money in reputable companies which their stocks must always rise after any dip.

[@devdaniel3225]

Mine had always ended up with losses.

[@helenoliver4838]

@@devdaniel3225 My consultant is *PRISCILLA DIANE AIVAZIAN* I found her on a CNBC interview where she was featured and reached out to her afterward. She has since provided entry and exit points on the securities I focus on. You can look her up online with her name if you care about supervision. I follow her trade pattern and haven’t regretted doing so

[@devdaniel3225]

@@helenoliver4838 thanks for the info. Found her website and it was really impressive

[@paulharold6721]

Mrs. *PRISCILLA DIANE AIVAZIAN* really knows her way around trading, it's evident from her deep knowledge of how the market works, and reading signals to perfection, I feel very safe trading with her.

[@projectverna1937]

Finally: a FIRE member who doesn't make money from their blog. Real estate makes so much more sense 👌

[@nataliefontane]

It really doesn't. As someone who's worked in real estate, you couldn't pay me enough money to be a landlord. But it is nice seeing someone who's not claiming they FIRE'd when really all they did was become an influencer.

[@OscarHanzely]

Majority of wealth is built through real estate in states. People that were lucky enough to be there and ready when crash happened they profited BIG TIME. It is really hard for person with middle class good income to have one rental property these days. What he achieved was pure luck. 80k was just our downpayment for small starting home for our family, yet they could buy cash houses for that price. Its great that they managed that and took advantage of unprecennted times that will likely never repeat.

[@carlyndolphin]

@@OscarHanzely It’s actually through equities

[@dac8939]

@@nataliefontane real estate gives leverage. Few rental properties are easy

[@brunomanco7529]

@@nataliefontane real estate isnt about quality of the investment, but its about quantity. Wouldnt u love to receive 2% for free of whatever amount u could invest in real estate with mortgages??? Its whatbu do after that that matters. With the real estate proceeds invest in VOO or VTI, and build the ladder

[@turtley8883]

His commitment to donating to charities is inspiring. I couldn't imagine taking care of my 3 year old son without the daily support from my husband. Must be really hard to be a single parent with 3 kids

[@chonghuang1866]

tax wirte off

[@davidhudson3001]

A CNBC news host spoke so highly of this💕 lady Christine Lynn Saitta and her loss prevention strategies been trying to get to her ever since

[@ketoswilly7581]

Investment now will be wise but the truth is investing on your own will be a high risk. I think it will be best to get a pro👌

[@dr.ervingalen1777]

​@@ericalorraine7943i just lookup her name and found her accreditation with qualifications on FINRA and SEC, she seems really solid. I already leave her a mail on her webpage🙏

[@investorwest8735]

I was able to paid off my $692000 debt within 8 months with Madam Christine help! So happy we are finally onto baby step 4, 5 & 6! Amazing! 🇨🇦

[@Ditronus.]

Feels like I picked the worst time to get into real estate in the last decade. I own some rentals now, but the returns aren't super great. Wish I had someone teach me this stuff when I was 19~ back in 2009~. Being frugal alone won't cut it in this environment; you need a good income to drive towards investments.

[@Cyborg1170]

I work as a Math Teacher in high school. Getting paid about 60K per year. I am trying to do FIRE before I turn 50. I hope it works out.

[@Iso_Jay01]

I'm 38 and started the fire as well. What strategies are you doing?

[@cutehumor]

his story is unique. He was able to FIRE when he bought all those rental properties at probably 40%-50% discount. Las Vegas was crushed in the real estate bubble of 2008-2010

[@auroramothergoddess]

It’s not going to happen

[@sandyli8549]

If you invest, maybe. Good luck and thank you for being a high school teacher!

[@thomasreedy4751]

@@auroramothergoddess How do you know? We have no Idea of the posters current net worth or expenses. If you can invest 60-70% of your salary you can retire in 10 years. It is possible making under 6 figures and those who have made it their primary goal can always find a new job that pays more. If he can invest 20k a year and live off of 40k he can retire with a million. If he can live off of 20 k a year he can retire with 500k. If he makes 150k a year, lives in a posh house, likes designer clothes and has to drive the newest Tesla - he will never be able to retire. It is all relative.

[@vickym9221]

Honestly, I would cut out the donations and just donate your time instead. Not a lot of people have enough free time to really get involved in causes. It sounds like you'd be more help to local charities by using those off weeks to volunteer. Not going back to work so you can throw a trivial sum (at the end of the day, compared to what they receive from wealthy donors) at a charity.

[@Jbenderii]

I would cut out the ex wife, and keep donating to charity.

[@oblivion_2852]

Actually a really great suggestion

[@greenearthblueskies8556]

They’re tax write offs

[@billnolan5375]

Starting early is the best way of getting ahead to build wealth, It's such a pity most folks spend more and invest less while intelligent people always try to harness any investment opportunity not minding the risks involved.

[@kelvinjohnson3906]

Finding the very best stocks right now isn’t as easy feat.

[@noelstout3056]

@Joe Robert I need more info on Dan Raziel’s services, you got any means of connecting with him?

[@rohitmajumdar1579]

Not all passive income investments are created equally. The stock market may seem like a safe bet, but might end up declining in value depending on the whims of the market.

[@natashawalton8545]

@@rohitmajumdar1579 Superior fundamentals and technical action, and buying at the right time, are all part of the process to succeeding in the stock market

[@arigutman]

Great story and enjoyed watching, FIRE is the journey I too am on. At the end of the day, I have really come to understand that is never how much you have earned, but how much you are able to save and moreover grow... Less really does become more when you get your time back and now I am off to Thailand soon to continue to enjoy the dream!

[@gupperguppygupper]

Makes me sad to watch these young kids growing up without their parents being together.

[@ricaguerrero8253]

Managing a real estate portfolio is not retirement; it's a job.

[@touringteg]

You can get close by paying property managers however it will still require some time and energy to manage.

[@peterpalmer9757]

Peoples definitions of retirement can be different when you’re not working for solely the money

[@MrWaterbugdesign]

I agree. I retired 20 years ago at 45. Been a landlord a few times for short periods...it sucks. I don't even like investing. Doesn't interest me. And it stresses the hell out of me when markets go down. I've done no investing at all other than the house I live in which I do fix up and sell and repeat every 5-7 years. I enjoy fixing up a house once in awhile when there's no deadline. I've funded my retirement just on the profits of those house sales.

[@gregorypeterson9]

Really who is your boss?...oh yourself 👍. Not that it is always easy. But you still control your number one asset TIME.

[@PersonalFinancewithLeila]

I'm curious how his health insurance is so low!

[@Enchantrist]

Probably paid through his business,... Mine pays mine!

[@auroramothergoddess]

He’s a paid actor

[@joyaustin6581]

He seemed to have made a great life. I don’t understand divorcing that

[@janebaker4912]

Maybe he was bumming around the house 24/7 while she was running after three children (a full-time job).

[@mark9294]

Or maybe she was bumming around the house 24/7 while he was running after three children (full-time job). Or maybe they had a dog and every time the dog barfed on the carpet he would kneel down and lick it up and she found that super disgusting. Or something else altogether. We’ll never know.

[@larabraver]

Marriage is hard. We don't know which of them initiated the divorce, but we can sympathize and wish them our very best.

[@greenearthblueskies8556]

@@mark9294 😂

[@greenearthblueskies8556]

@@janebaker4912 😂

[@rexyzvent5864]

Very interesting, love his honesty about the effects of the divorce

[@moua0067]

Wow. Ali really screwed him over. Wth. And Im a woman commenting.

[@mariahsmom9457]

All of his assets are illiquid. That makes me nervous for him. He is brave! Love that he gives to charitable causes.

[@bbb_888]

Good point.

[@watson457]

Cash out refi's and HELOCs can help with liquidity, especially with home prices skyrocketing - but yes, it's a pickle, especially with rates following them.

[@healthmarket6224]

How much liquidity does he need? He has more than a dozen rental cheques rolling in every month for the rest of his life. I’m sure he has enough cash/stocks to cover emergencies.

[@CarlosG2288]

You should be more nervous about the 56% of Americans who don't have enough money to cover a $1,000 emergency. I think he'll be just fine lol

[@douga2730]

Same here bro. We became debt free and even paid off the house. A few months later she cashed out the marriage. Now I'm the stay at home parent and she has a full time job. Guess she thought the grass was greener on the other side. Keep pushing forward! Life is good.

[@noname75013]

Mine did the same. Paid off house, cars, money in bank... she filed for divorce and took 50% for herself then got another 42% for child support. I got homeless and broke.

[@Matt-fl8uy]

How on earth is a 29 year old "retired" person paying $25 for himself and his kids? (timestamp 7:18)

[@o0laieta0o]

He's 36! But 25$ seems ridiculously low

[@dac8939]

Moral - do not get married

[@ImVeryBrad]

"Don't get divorced"

[@TheBielrangel]

He seems like an incredible guy.

[@andreasmueller8353]

15 properties, how much property tax?

[@biniaminamerica]

What a trooper 👏 and great father keep it up

[@jjharrison4099]

We also give ten percent of our money and always have since we were in college and making barely anything. Generosity is so important as you build wealth. It’s unusual to see some one giving so much in their budget! Very inspiring!

[@VeraCasaca]

Wow the donation/charity part... I take me hat off sir.

[@davidbryant5272]

Hello Vera how're you doing.?

[@FaithWolper]

Don’t you have home owners insurance, life insurance, property taxes?

[@o0laieta0o]

It's probably inside the mortgage value or he has a business that manages all of that and has most of his properties paid off

[@Bromeostasis]

How is your health insurance and expenses $25 a month?

[@prettygirlus9008]

So, Joe and Ali held down regular jobs for about 5 years. At $25/mo for health insurance, it looks like he must be on a heavily-subsidized ACA plan (and, therefore, shows a very low AGI). Managing out-of-state rentals is very difficult; and property managers eat into an already skinny profit margin and need to be watched. He doesn't talk about the work involved in managing 15 rental properties, and seems to not have to do any of that. The pie charts at 7:13 illustrate a pension - he only worked 5 years, how could he vest in any pension plan? The monthly expenses at 7:18 seem to not include his investment real estate expenses? We need to see the income side of that statement. A lot of questions with this profile,. I'm guessing that this guy is on the brink of bankruptcy.

[@davidboeger6766]

Mad respect for actually managing to FIRE at such a young age, but come on dude, painting on the floor at 6:45 ? Get on Craigslist and buy a used Ikea table for $10, or perhaps an easel or something. There's frugal, and then there's cheap.

[@noone-um4hk]

How is health insurance only $25 per month?

[@MGTOWmademeMillionaire777]

Imagine if he would know about mgtow before having gf... Would be super rich.

[@Onestopshop23]

Salute to coach greg #bait and switch. Men keep wemen out of your finances. No state contracts!!

[@tonybenedosso4669]

Good for him. But he says he loves teaching. So why quit? The salary and benefits are a nice plus. Another reason not to quit is that he can teach kids all the lessons he’s learned about personal finance. That’s something children are in desperate need of.

[@gregmichaels7650]

agreed but do you really want to be talking to kids about money as their teacher?

[@leress]

He could just teach them, I mean he is right there with them.

[@jinjurbreadman]

tell us the juicy dets. why did you guys divorce? was it cuz you were living too frugally? seems relavent to know if other people are planning a FIRE lifestyle, but have to account for the wife divorcing if she's divorcing because of FIRE related factors. Was the divorce FIRE related?

[@Killzoneps3ps2]

For some reason I feel she wasn't genuine

[@staciamj1]

Why is he paying her money when she got money???

[@alainbileg9826]

$40 air travel ??? $25 Health insure and health spending. Where does he travel to? Where does he get his health insurance? is this the same country I am living in???

[@ewhulbert]

They did not hit on the biggest issue: how does he spend $25/month on health insurance? That is one of the biggest unknowns, and basically everyone spends way more than that with employer sponsored insurance. How the heck does he buy something on his own and spend less per year, with three kids, than what most people pay per month?

[@BrntVanilla]

Sad they got divorced. hopefully they are on good terms which it sounds like they are. But a large amount of his assets is very illiquid and his mortgage is way too high. Living in Seattle is also very expensive. Even if theoretically, he and his ex split 50/50 for kids cost/time, him spending 3k on a mortgage alone aka over 50% of his monthly expenses is not a good idea

[@amwangi3309]

that divorce was a bummer

[@earlwallace2015]

So, let me get this straight. After him being the man of the house and leading his family to financial freedom. After 15 years of building together and 3 children now they get divorced? 50/50 split. Why do I get the strange feeling she left him.

[@mobilemoke]

She probably did leave him..he looks like the underachiever of the couple. She wanted a participant not an observer

[@DavidSweetnam]

@@mobilemoke What do you mean? He’s really active with his kids and got into real estate. Maybe she just wasn’t sold on ‘Fire’, as while you’re young it’s still a good idea to work for some money, even if it’s part time.

[@nevaehluz4213]

You can't force what isn't working for yhe sake of your kids. Happy parents= happy kids

[@FaithWolper]

Perhaps they are both really awesome people whose marriage came to an end. Why does there need to be a villain?

[@earlwallace2015]

@@FaithWolper no such thing. We both have been alive long enough to realize in marriages someone always throw the towel first. Your comment doesn't even make since regarding divorce statistics. 80% of all divorces in the USA are filed by the woman.

[@Matthew-rp3jf]

These people got soooo lucky. 2008 doesn't happen often.

[@andersneldebergnielsen4972]

I was amazed at how high Joe's cost of living is. Spending 100,000 USD a year, even if you have kids, sounds like a lot of money. If he is lives by FIRE the 100 kUSD must include his business expenses as well. Anyways, as long as he is happy and does not spend beyond his means that is great for him

[@PHlophe]

Y'all have fire over there in DK too ?

[@andersneldebergnielsen4972]

@@PHlophe Yes, FIRE is a thing in DK and Europe as well. It is a bit more difficult to practice compared to the US, as we have higher taxes in Europe, especially in Scandinavian countries. For example, the lowest tax bracket for normal salary income is in DK is approx. 45 % (this consists of social contribution of 8 %, federal tax of 12,1 % and municipal tax of 25 %). Due to some deductions in your taxable income, the effective tax rate may be lower, but it is likely to be approx. 35-42 % for the average person. In the highest tax bracket a marginal tax rate of just under 60 % applies. Income from stock investments are taxed at 27 % (income below approx. 8,000 USD), while income above 8 kUSD is taxed at 42 % (and there is no non-taxable part) Due to the higher tax rates (+high cost of living expenses) it is more difficult to save up enough money to be able to go full on with FIRE. Contrary, we do not need to think about health care expenses and college tuition fees, etc. The great resignation is also a thing that is catching on in Europe as well.

[@larabraver]

Seattle is a very expensive city. $3k mortgage is common.

[@unknownanonymous123]

This guy is lucky that he hasn't had a bad tenant with all those rental properties. If you are going to divorce, why marry?

[@Jumpman67]

I’m sure he has had a bad tenant. One bad tenant doesn’t ruin a portfolio.

[@serchsource8744]

A 9 to 5 job is making someones elses life rich and better, while you are miserable by feeling guilty at life at the same time...

[@HP-rp5nn]

First

[@bonsummers2657]

He's got a pierced tongue?

[@Erich_Von_Erich]

Please don’t get married.

[@charliewilliams931]

False happiness. My guess your wife left because she had 3 kids and a husband who didn't want to work. Get real.

[@zwanzikahatzel9296]

LESSON: don't get married

[@Riggsnic_co]

I'm a single, 43-year-old father who resides in Hamburg. If everything continues to go well for me, I intend to retire at age 50. I couldn't be happier right now than I am that I just bought my first house last month. I'm so happy that I made wise choices that altered my life forever.

[@TheJackCain-84]

Salutations, dude. At your age, you're doing extremely well. I'm 54 years old, and right now my finances are a mess. Any helpful advice would be greatly appreciated in helping to mold my life. I want to buy a home of my own.

[@martingiavarini]

It seems like I used the FIRE movement to manage my finances. Investigate it further by doing some research. With the help of a financial professional, they were then successful when investing in stocks, cryptocurrencies, and real estate.

[@martingiavarini]

When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.

[@bob.weaver72]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@henryclinton9317]

Retirement is wonderful if you have two essentials - much to live on and much to live for. Invest wisely and get good returns.

[@wilsonjudson1650]

thank you, can you give a pointer the best investment now ? i am thinking of getting stocks or cryto

[@henryclinton9317]

The key to making money in stocks is not to get scared out of them. An important key to investing is to remember that stocks are not lottery tickets. get a financial assistant

[@henryclinton9317]

I currently work with TERESA JENSEN WHITE a financial expert i met in a seminar

[@dorissteve912]

I recently watched TERESA JENSEN WHITE on TV , such a great speaker . but have you made any profit whatsoever working with her ?

[@henryclinton9317]

I have been able to make maximum profits off my trade with $40,000 and I have amassed about $190,000 in net profit In 4 weeks

[@akirebara]

"I have learned to seek my happiness by limiting my desires, rather than attempting to satisfy them." -John Stuart Mill

[@FitzDunk]

Not sure how much I stand behind this, what wrong with satisfying your desires?

[@akirebara]

@@FitzDunk It's alluding to superficial desires like brand name bags, shoes, buying a mansion, etc. I'm sure you know someone who flaunts their wealth, a person who seems never satisfied with what they have (an example: celebrities who have closets filled with unused Hermes Birkin bags). You don't need to have 100 pairs of shoes if you only need and use 10 of them. You can't buy a Supreme jacket because that will result in you having credit card debt with 25% monthly interest. That's what "limiting my desires" mean.

[@FitzDunk]

@@akirebara agreed with that portion 100% but what I was referring to was getting successful enough to do what it is your heart desires without limits. Like maybe you want to take a 5 day vacation at an all inclusive hotel but you limit that to a 2 night stay in the a motel etc. I don’t think most people want mansions & birkins, they want to live life to the fullest without having to compromise on what they truly I think that is what will be happiness

[@akirebara]

@@FitzDunk It's not always extremes, like your example though. Like Andrei Jikh. He's a millionaire now. But did he buy a Tesla (even though he wants to)? No. He is still driving the same Toyota that he and his girlfriend bought way before he got rich. He went on a vacation in Hawaii with her a couple months ago. He didn't stay at a luxury resort but chose a secluded Airbnb. Not a motel or hostel, but somewhere in between, even though he could easily afford $1K+ a night suite. His desire was "go on vacation in Hawaii". Did he achieve the experience he wanted? Yes. But he limited his expenses to a decent amount. When you start living for the goal of FIRE, something is changed with your outlook in life. Desires are more manageable and less stressful, because you are willing to do somewhere in between instead of "the best" or "the most expensive".

[@FitzDunk]

@@akirebara I get where you’re coming from but I do disagree, in your Hawaii vacation I don’t think it’s the same experience of the hotel and airbnb I’d argue to say a 1k has a way better value. But I’m the FIRE movement spending your money has to be paced because any big purchase could throw off your calculations and you’d have to go back to work. So buying a Tesla even tho within his budget would have to take in how much he is allowed to spend each month. But I’m 100% with you on not attaching your happiness to a specific thing but the fact still remains if you can buy the things you desire you’d be happier than if you can’t. I just don’t want people to compromise everything to be happy, yes the simple thing are great but you should be able to buy that Tesla if you want to

[@551223]

Poor guy, you can tell in his voice that she’s the one that wanted a divorce

[@mushrifsaidin]

That's obvious, whichever parents got dumped with custody of the kids is the one that got divorced

[@chowtime91]

They have shared custody, seems 50/50 based on his on week/off week comment

[@lorischuette1163]

How I. The world does he pay only $25 a month for medical insurance for himself and 3 kids?

[@scottmike2926]

Hello 👋Mrs Charlotte is legit and her method works like magic I keep on earning every single week with her new strategy

[@ankushverma9392]

That her chat info 👇👇

[@ankushverma9392]

꧁༒☬෴十𝟭𝟯𝟬57𝟬𝟭𝟯4𝟭5 ෴☬༒꧂

[@ankushverma9392]

꧁༒☬෴十𝟭𝟯𝟬57𝟬𝟭𝟯4𝟭5 ෴☬༒꧂

[@Springsteen002]

She's not like other brokers that will star telling you stories and excuses why they trade didn't go well after collecting your money

[@sophiajason996]

Mrs Charlotte has brought me out of the wrenches and to a better living through trading options, I encourage newbies to trade with her, Trade with her and remember to share testimonies with other

[@FinancialFreedomLifestyle]

Investing in rentals allowed me to reach FIRE at 28. I think it's the fastest way to reach FI.

[@carlyndolphin]

How do you spend your time? Do you get bored?

[@kchal0]

Stock market for me, hit 7 figures last year at 27 but I didn’t “RE”. Instead just use my paychecks to have fun. 😅

[@curties]

Quite the likeable guy. I hope he can keep it up and stay just as positive as he is!

[@teole6364]

After all that, a divorced? That sucks

[@DavidSweetnam]

It’s so sad they divorced. He seems great, maybe he lost a sense of purpose after ‘FIRE’? I don’t think it’s possible to do nothing, even if it’s unpaid, humans need to do something..

[@cutehumor]

I think the wife didn't want to have kids. when they had kids, she was forced to stay home everyday with him. i can see why he has to stay home dad, daycare for 3 kids would be like 4k per month in Seattle

[@DavidSweetnam]

@@cutehumor Yeah maybe it’s because they were all at home. Not sure if she didn’t want kids, but it makes sense that maybe they were at home on a budget and got on each other’s nerves

[@NomaswaziMadi]

This post needs to be pinned!!!!

[@JJoeisCooking]

He's not doing nothing. He raising 3 children.

[@janebaker4912]

If you have four kids you can't do nothing. They are work. Is that why they divorced.

[@leapheap6837]

This guy is barely making it after the divorce. Especially living in the Northwest in Seattle where it’s highly expensive.

[@greenearthblueskies8556]

I doubt that😂

[@marijanasimic2664]

It looks like she picked cash and he picked assets. Good choice Joe, you gonna be just fine. And good luck 👍

[@PHlophe]

Marianna, it think either decision is good . with cash she can put a down payment for a decent flat. and start over .

[@marijanasimic2664]

Absolutely, but I haven’t had any intention to comment their relationship/divorce. It was pure “financial” comment. Assets produce passive income. As an investor, I think he made a better choice. Of course, we don’t know wether she will use a cash to invest 🤷‍♀️

[@tomaszpawlikowski1301]

How the heck is he able to pay $25 for health insurance / month with 3 kids?

[@Zoltarswim]

He uses the depreciation from the rental assets to reduce his gross income and can game the system with Obamacare subsidies. This is a common trick that wealthy people use. They might have a million dollar real estate portfolio and bring in 150k per year, but they can depreciate the total value of those assets over 27.5 years and reduce their gross income below the 45k mark for Obamacare subsidies. Thus a program designed for poor people is enjoyed by the elite. Is it legal? Yes. Is it ethical and moral? I don't think so, but some people feel if the law is written that way, then they are fine with it.

[@lizabetx483]

I want to know as well? Perhaps his ex wife pays the rest.

[@laina-brown]

Such an interesting fire story. Good to see stories that are not all perfect and ideal in every way.

[@jasonandoy4740]

This story is so inspiring. Joe if you see this im a single dad to if you start a support group for FIRE for single dads I would join in a heartbeat!

[@Bambotb]

It's horrible to divorce like this..

[@janebaker4912]

That's a good idea! I married a single dad and he was not doing great when I met him. I just a little love and this guy blossomed! Single dad's need support.

[@Re3iRtH]

@@Bambotb This dude did everything right. Great father, great husband, early retired his whole family. Ungrateful modern Westernized wife still divorced him. Genuinely seems like a nice guy too. This video sounds like a bad romance novel. He's like I showed my wife the entire world, we traveled, and then we got divorced. It's like what the hell kind of punchline is that? As a man living in the West, getting married is absolute suicide. Do not get married. Don't do it.

[@Bambotb]

@@Re3iRtH i am arab..it's easy for us to seperate feminazis from wife material...however you never know who is to blame in this relationship..but yeah thann god we still have traditional values here plenty of options ..

[@Re3iRtH]

@@Bambotb where are you located? I am fortunate to be financially free via real estate passive income so next year at age 37 I will stop working to travel the world. I want to do a year in Mexico and taiwan, so far those are my favorite places for feminine traditional women.

[@alexkram]

Glad you're doing well Joe. You were always giving the smartest and best advice on the MMM forums. I'm loving my FIRE life too although it isn't always sunshine and rainbows. I still think living below your means and investing the rest is the cheat code to life, but sometimes the cheat code ruins the game because it becomes too easy. I haven't fallen into that trap but I could see how it could be a problem for some.

[@adfmo2195]

I’d like to invest but don’t know where to start. Any tips would be appreciated?

[@AutomotiveAnatomy]

Really earned my respect but the "donating" rule he has for himself is the biggest one that grabbed my attention. Great job!

[@CalicoArchives]

It's quite interesting to hear about this story of having achieved financial success and yet being divorced since divorce is generally looked upon as a failure.

[@Dre2Dee2]

Divorce is a failure

[@CalicoArchives]

@@Dre2Dee2 Depends on who you ask. Some people may say it's the beginning of untapped potential and endless possibilities.

[@Onestopshop23]

It is a failure. He's debating going back 2 work

[@CalicoArchives]

@@Onestopshop23 Where does he say that?

[@CalicoArchives]

@@Onestopshop23 Elon Musk, Bill Gates, Jeff Bezos are all divorced. I don't think anyone would say they're failures.

[@yourgooglemeister6745]

There is something being left out of this story. Three kids, nice house with expensive, furnishings in an expensive area with high taxes. with kids outings and stupid virtue signalling causes. Blew a lot of money traveling, giving birth in a foreign country, twice. Who was managing the properties? This is all not adding up!

[@cazpk6840]

property manager looks after the houses ....

[@yourgooglemeister6745]

@@cazpk6840 So with their cut, plus repairs which he no way does himself is there even positive cash flow on them? This story is bunk all around.

[@AyakoTachi]

They've been in the media about FIRE since 2017; story has never added up. The now ex-wife wrote romance novels as supplementary income. That tidbit is left out of this piece. STILL... They worked in a notoriously low paid profession (teaching, bachelors degree only) for under 10 years. Bought 15 properties - more than 1 property per year worked as a teacher in a crappy underfunded state, extensive international travel concurrent with having 3 babies in under 4 years, Mex-Canada RV trip, preaching frugality but little evidence of it (SEATTLE?!). Divorce. Covid impact on landlords. Does not compute. . .

[@yourgooglemeister6745]

@@AyakoTachi I own 5 properties. And I'm single with no kids. The maintenance on my properties is not a lot, and they're local so I do it myself. This dude has 3 kids and doesn't seem very handy at all. This show really is blowing smoke up our ass!

[@k.h.6991]

@@AyakoTachi There just has to be family money in there somehow. Maybe grandma died?

[@akirebara]

This is very unique so I'm thankful Joe and his ex wife were willing to tell their story. They reach FIRE but eventually divorced but they both are still able to live their lives according to what they want, with not being tied to jobs they hate.

[@wolfangstrike2220]

His ex wife said nothing. He’s the real mvp

[@akirebara]

@@wolfangstrike2220 he told THEIR story, of how THEY BOTH reached financial independence at a young age. How THEY met, how THEY traveled to different countries when they were younger, how they budgeted, when they had their kids. Yes, their romantic relationship ended but they are still in each other's lives for THEIR kids. Stop being a misogynist. Be better.

[@wolfangstrike2220]

@@akirebara why is he speaking for her. His ex wife has a voice. You’re supporting the patriarchy. You’ve been indoctrinated by the right wing political machine. She probably left him for a reason. Cause she didn’t talk so. Mmm. How about you be better, use your brain. Woman can speak for themselves.

[@akirebara]

@@wolfangstrike2220 Some women don't want to talk in front of the camera because of men like you. She probably trusted him to speak about their FIRE journey but know how toxic people are towards women in divorced couples. Right wing political machine? What does that even mean? "Woman can speak for themselves." And I'm the one who needs to use my brain, when you can't even type in a cohesive, grammatically correct sentence. 🤣

[@wolfangstrike2220]

@@akirebara I don’t have to type in a cohesive structure. Cause nothing you have ever stated, present nor past has ever sent the listener/reader to the dictionary. 😊

[@karlabritfeld7104]

$25 for medical insurance in the USA? That's impossible. Someone is lying.

[@afw3929]

That was my thought as well. I commented above and another viewer said under Obamacare with a HSA & high deductible, it was possible. I’ve never seen something that low. But I’m in CA. You’re either below the poverty line and get Medi-Cal, or you pay with a different limb every month. There’s no in between!

[@briancollora481]

@@afw3929 not sure about where he is but in NJ a single parent and 3 kids they'd get free/heavily discounted medical insurance through the state. Or the Ex is paying a chunk of it.

[@Zoltarswim]

He has rental properties and no W-2 income. He uses the depreciation on the properties to reduce his gross income to the lowest level possible to get the highest amount of affordable care act subsidies. This is a common move by high net worth individuals who can manipulate their income. Legal? Yes. Is it ethical to use subsidies designed for poor people to maintain this lifestyle when you have a 7 figure net worth? You can decide that I suppose...

[@briancollora481]

@@Zoltarswim I would say good for him. If I were in the same spot I would do the same. Just another reason to change the income tax rules.

[@megsley]

@@briancollora481 nah its still gross he has money and doesn't need to be eating up all those subsidies that lower income folks ACTUALLY NEED

[@Polostar79]

I admire that he’s willing to donate so much but I’d be curious to know how much he has put away for his three children.

[@janebaker4912]

Oooohhhhh 🔥 yes

[@thedopplereffect00]

Obviously they didn't put their children first getting divorced in the first place.

[@janebaker4912]

@@thedopplereffect00 yeah but you can't set yourself on fire to keep others warm.

[@greenearthblueskies8556]

@@thedopplereffect00 🙄Obviously you dont know what TF you’re talking about - since their situation has never been discussed with you.

[@CarlosG2288]

Seems like he spending far more time with his children than most parents do. Time with children is FAR more valuable than money.

[@myscargo1]

exactly how is Joe only spending $25 /mo on health insurance while still not having formal employment? im calling BS!

[@Duke_of_Prunes]

Exactly. I pay $700-something, with no history of medical problems. Non-smoker.

[@vee9043]

He doesn't have income + kids so he gets Obamacare subsidies. My unemployed sister only pays $25/month for her plan

[@pauljsedmak]

Cheap insurance

[@Dashawn.B]

Wow F.I.R.E. Doesn’t work unless your single. They achieved everything and did everything and that wasn’t enough for her. Plus she took the retirement fund, liquid assets and he pays her the difference from the real estate portfolio. How is that 50-50.

[@desimo147]

Since he is uncertain about his finances after the divorce, why not cut out the $900 per month of charitable donations until things stabilize? It is his 2nd highest expense. Seems out of whack to me.

[@Cwilly13ify]

Moral of the story, buy low during a global financial crisis and don't get married. He did one out of two right.

[@janebaker4912]

Don't marry young or don't marry the wrong person 🤷 if you read millionaire next door "being married and never getting divorced (and having a frugal wife)" is one of the big three. The other being a business owner. The next live below your means. This was all from data. My husband has himself a frugal wife and he earns ten times more than when I met him. I'm so curious why they got divorced thouh

[@janebaker4912]

@Delta 8 if he wasn't married? Guess we'll never know

[@101starwarsfan]

how does he only pay $25 for health insurance? and what about $40 for air travel? those numbers don;t add up

[@TheEastguardian]

The air travel is likely his yearly air travel expenses divided by 12 months, so he likely spends about $480/yr. I can't comment on healthcare as we pay ours through taxes (universal healthcare).

[@CarlosG2288]

Travel hacking with credit card points

[@Redpill_to_MGTOW]

He should stop with the charity stuff. He is the person who needs or will need charity. Blood from a rock my man

[@jasonjason5325]

Unfortunately... He is going to get crushed... Ex wives usually burn you

[@Redpill_to_MGTOW]

@@jasonjason5325 Yup. Thinking the same thing.

[@drewconway7135]

Just because your marriage failed doesn’t mean you failed. Picking one person and mating with them for life is a social construct, not a biological one

[@deanc2000]

At 7:18, nothing is mentioned about property insurance, property taxes, repairs, maintenance, property management fees from his rental properties. So I think it's higher than $5.8K.

[@leetjohnson]

Monthly personal budget is different than the property management/ownership costs. Those expenses are taken from the income of those properties, not paid monthly by Joe.

[@darkhumphrey]

I learned that it's not more money and things that keep you happy, but rather less overhead you need to worry about. I made less while back but I was single and didn't have much overhead to worry about. Now I have more and make more but stress has increased.

[@eduardogarcia9793]

It's not FIRE if his wife took the retirement funds 😅

[@awakenpoemquotes]

wife and kids killed your fire homie

[@bryonsview]

lmaooo

[@spoonkiller_actual]

...$25 a month for health insurance?? Is he pretending to be poor in order to get Medicaid?

[@ropblu3]

Make a KZbin channel. Talk about on those feelings. Good luck to u man!

[@jdl9623]

Health insurance and spending =$25 per month?? Must be a typo.

[@gretchenflowers]

Really inspiring to see how he is going about life

[@Julie-bq6iz]

Hopefully he won't jack up his tennants rent through the roof like many greedy landlords have done recently. Many people are currently struggling at the edge of the financial cliff through no fault of their own.

[@namastemcl]

Seems like a young man with his head on straight

[@bobbydeveree2712]

How is his health insurance $25 dollar. I need details on that policy

[@yasinnabi]

If you are reading this, remember that Life is worth working on yourself.... make yourself a new brand of yourself to be known and loved and create value to others....a fellow creator....

[@afw3929]

Very inspiring! Thank you for sharing your story. Side note: how is the medical insurance spending at $25/month? Where does that exist, please?!

[@charity7273]

My insurance premium through work is $10 a month but I assume since he is retired he is getting a Marketplace plan

[@charity7273]

@HZa all income isn't the same, when you have a business you have all types of business deductions. It is not uncommon to end up with a $0 insurance premium in the Marketplace after credits. I see it all the time, I work in Financial Counseling for a large health system and we help sign people up. What you qualify for is based on taxable income.

[@afw3929]

@HZa Me too!

[@afw3929]

@@charity7273 Interesting! I had no idea. Mine is employee sponsored through my government job, but they still deduct over $800/month for a family plan. I’ve never heard of health insurance under the $200-$400 range. $25 a month or less sounds incredible!

[@cutehumor]

obamacare. if he has 50k year income with 3 kids, his insurance will be dirt cheap under a HSA high deductible plan

[@t.allennailconcepts]

Most of my portfolio is dividend investments. I am really liking the results.

[@Billybobthor]

Such an interesting story. Thanks for sharing it. And what a great positive attitude too.

[@nataliefontane]

I think most FIRE people go through this. Unless you have several million, there's a really high chance you'll have to go back to work, and people don't want to hire someone who's been out of work all that long.

[@thomasreedy4751]

He chooses to spend 100k a year. A person doing FIRE could live on a lot less.

[@o0laieta0o]

I mean it depends if it's just 1 person/couple or if they decide to have kids... I don't think the $60k/year accounted for the kids very well

[@nordette]

The world always needs more bartenders

[@swicheroo1]

I could retire right now if I sold my real estate. Most people I know can. Because my market is LA. My friend is in the process of selling his home in a hinterland of LA for 1.3 million. He's moving to Spain.

[@o0laieta0o]

Good for him. Spain is amazing and cheap too if he doesn't want to live in a big city

[@professionalcommenter5]

7:52 that’s a very weak quote. Basically saying, aim low and have lower standards. Don’t aim high, and you will not be disappointed. You can have FIRE, and still have strong goals

[@ooogyman]

How in the world is he paying $25/mo on health insurance with 3 kids? My bronze plan costs $150/mo just for me, and that includes the subsidy.

[@richardleston5237]

High Deductible plan?

[@davidaustin902]

She pays child support, right?

[@heslind]

His ex wife will be working the rest of her life chasing the “dream”

[@jamesbat09]

Can't take a grown man with a tongue ring seriously

[@nevaehluz4213]

That's your opinion, every one does what he or feels right for themselves

[@ominous450]

I was looking for this comment XD

[@donmamon9263]

Can’t take people with negative net worths seriously

[@thomasreedy4751]

Divorced with kids would be my biggest fear about FIRE. Fire primarily has high earners living on less. A disgruntled ex-spouse spouse would just have to claim that you have a high earning potential and are choosing not to work in order to short change the kids. So essentially, you have to work twice as hard as you ever would to satisfy the selfish behavior of your ex. Even though you would never intend to live or raise your children with such extravagance.

[@yoladamoyi9801]

It's literally happening to @techlead rn. You nailed it.

[@evanh4376]

Did you not watch it, they split things equitably, he speaks without bitterness about her, their goals and interests diverged.

[@yoladamoyi9801]

@@evanh4376 watch his latest video on what happened recently. She took him to the cleaners... She got an American Lawyer to take him to child support court. He was paying for his child obviously but now since she's taken him to court , he's being shanked by the system