Dec 5, 2018
How Two Forty-Something Empty-Nesters Achieved Debt Freedom and Built a Thriving Real Estate Business
Rob and Reshawn are the power couple behind the blog, Learn Hustle Grow. This power couple are the parents of two kids, and they are so inspiring because they are in their 40s and are officially debt and mortgage free. One a saver and one a spender, these two faced the challenge of melding their money together, setting them on a path to financial success.
Dave Ramsey is the cornerstone of the debt payoff movement. He personally helped both Wendy and I, and he also helped both Reshawn and Rob as they paid off their debt. If you visit Dave’s website there is a wealth of information about the debt snowball process, and he also has a podcast that is easy to listen to. Here is a link to Dave Ramsay's total money makeover site.
Rob, one of three, grew up in Portsmouth Virginia to a poor but loving family. After high school he decided to commit his time and focus to joining the Marine Corp. During that time he had his own money, clothes and cars, but he learned little about money. After the Marine Corp he was able to go to college and get married.
There were two big mistakes that Rob made during that time - mistakes that would take a few years to clean up. One is that he over spent, there by using all of his extra GI Bill money on expenses outside of college. Next he went through a separation in which he was left with all of the credit cards - which contained shared expenses, but which were in his name solely. He was a newly minted single dad, in debt.
It would be some time before he would meet Reshawn, and clean up his finances alongside her.
Reshawn was raised in a single parent home that never really discussed money growing up - but she never felt like they were poor or broke as a family. It became clear there was no money for her and her sister for college, though, so she joined the Army Reserves. She finished college with the help of the GI bill, but ended college with thousands of dollars of student loans and credit card debt. She was also a new single mom, in debt.
Reshawn realized that daycare expenses and baby clothes were her new normal, and she began to call the credit card companies to negotiate her debt. It took her 10 years to pay off her student loans - and all of her debt was taken care of before meeting her “Mr. Wonderful”.
Reshawn hesitated when she realized that she was a saver while Rob was a spender, especially with the fact that they were not only combining their lives, but the lives of their 10 and 8 year old. Here is the advice they gave during our episode that outlines how they went through the process of combining their lives :
Rob and Reshawn took multiple steps to overcome the hurdles that were in their way at the beginning of their marriage. Here is a blueprint that all couples should consider in order to follow the path that Rob and Reshawn:
Rob had the goal of becoming a real estate mogul, and eventually Reshawn joined in. We had the opportunity to learn about how they went from one property to owning multiple properties, including a small apartment complex!
Now that they have multiple properties and have reached financial independence, what do they plan to do with their newfound freedom? Read the answers to their final questions to find out and listen to our episode to find out more about this!
Find them and follow their story at learnhustlegrow.com
Sites mentioned in this podcast:
Listen to our previous episode about Justin, who retired a millionaire at 33 years old!