One of the most common misconceptions of financial independence is that you can’t do it with kids. But Jordan Klint doesn’t listen to what other people say. He became financially independent with kids—and not just one or two of them. He did so with five children.
Oh, and did I mention he’s only 33 years old?
Jordan and his wife started flipping houses soon after they began dating and haven’t stopped. They’re now teaching their five children the value of investing, as well as how to be landlords and make repairs. They do this all while home-schooling them and continuing to find and purchase new properties.
Jordan also shares how he was prepared to quit his job outright but his employer begged him to stay for special projects, allowing him to continue to work as an engineer. It’s something he loves but is now doing on his own terms.
Jordan’s story is 100 percent repeatable! In this episode, he lays it out in such a way that you can both be inspired and apply his strategies to your own life.
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In This Episode We Cover:
- Jordan’s journey with money
- Having a 20-year deadline working for somebody
- Co-op program
- His financial position in terms of income and assets upon graduation
- How he and his wife approach their personal finance
- Influenced by Dave Ramsey on avoiding debt
- What his underlying principle is
- How he started flipping houses
- How helpful YouTube is
- What Jordan and his wife did prior to having kids
- Saving about 50% of their income for savings and investments
- What their life looks like after having their first kid
- On childcare expense
- The structure they changed as his family grew
- The importance of having a plan
- The time he became intentional about building passive income
- Their first deal and the passive income they produced
- His principle of having better tenants
- What happened after he bought his first rental property
- On quitting his full-time job and going part-time
- How they changed their spending
- His lifestyle expenses
- On healthcare
- How he motivates other employees
- And SO much more!
Links from the Show
- Mr. Money Mustache
- BiggerPockets Money Podcast 01: The Surprising (Scientific) Truth Behind What Makes You Successful with Mr. Money Mustache
- BiggerPockets Money Podcast 38: Getting Serious About Paying Off Debt
- Financial Samurai
- BiggerPockets Money Podcast 46: Engineering Passive Income Streams to Fund the Life You Want with Financial Samurai
- BiggerPockets Money Podcast 10: Designing a Frugal But Luxurious FI Life by Age 32 with Liz Thames
Books Mentioned in this Show
- Millionaire Next Door by Thomas J. Stanley
- Thou Shall Prosper: Ten Commandments for Making Money by Daniel Lapin
- Rich Dad Poor Dad by Robert Kiyosaki
- Leadership and Self Deception by Arbinger Institute
- Engineering You Layoff by Financial Samurai
- “You can get over all these little hurdles if you just have that mentality.” (Tweet This!)
- “You don’t have to be naturally handy, you can just watch somebody do it and it’s not that hard.” (Tweet This!)
- “Quickly you lower that spending side, the quicker you’re gonna get to it on the passive income side.” (Tweet This!)
- “It is so much easier to cut a dollar of a spending than increase a dollar of income coming in.” (Tweet This!)