Ep 25: Raising a Family While Seeking Financial Freedom

27 Replies


Chris and Debbie Emick have two daughters—AND are well on their way to financial independence through a combination of local and long distance real estate investing coupled with frugality and conscious spending.

Chris and Debbie are everyday Joes living the dream in small-town Colorado. Debbie home schools their two daughters and manages their rental property business from home, after her 14-year career in teaching. Chris is a passionate leader to his team of network engineers by day and organic gardener/personal finance extraordinaire by night. Their home base is rural Southeastern CO, where they can go for dirt-road runs and trafficless drives while still being able to make quick mountain trips for hiking, backpacking, and skiing.

Listen here or on your favorite podcast player.

This is the first in a periodic series of interviews with families who are on the path to financial freedom.

Enjoyed the fact the couple is able to provide the daughters with job and develop their understanding of financial values. I have a younger sister that is 9 years old. I work with her consistently on developing her financial understanding. I am working to be in a position to be able to offer her a position as well. Congrats Chris and Debbie!

I need to listen to this! We homeschool our 4 kids, and I manage our two long-term, out-of-state rentals, as well as our STR attached to our home. My husband does construction. We have been inching along on our FIRE plan, but it doesn't seem to be going as quickly as we'd prefer. Looking forward to this podcast!

just yesterday my wife was saying, How do people find the extra when they have a family?

how when they have a big family, I think this is a really great show for her and for me.  thank you.

Definitely looking forward to listening this podcast with one child and another on the way. Just starting my RE journey and know that it is going to require that much more work to reach financial freedom with a family. Luckily, my significant other is on board and supports fully!

Great discussion with lots of valuable information. I appreciated that the couple was very relatable and utilized strategies that any of us can apply to our lives.

Great episode @Mindy Jensen & @Scott Trench ! One request.  Chris and Debbie mentioned that they have a two year plan to account for health care changes and it was left at that.  This is my biggest question mark in my FI plan and I haven't heard you guys discuss it yet on the Money Show. 

I would love it if you could either bring someone on to chat about this challenge or if you would elaborate on it the next time it comes up.

Keep crushing it!

Thank you for that episode everyone!  Needed to hear that it is a possible...

... A pirate walks into a bar with a peg leg, a hook arm, a parrot and a roll of paper towels on his hat.  He walks up to the bartender and says, "Argh! I got a bounty on me head!"

I was really looking forward to this episode but, while overall good and encouraging for those of us with families, I felt like it was a lot of "what" but not a lot of "how".   I was listening in the car so maybe I missed some things, but basically the gist I got was that they stoppped eating out as much and found red hot, screaming rental deals.

I can't get enough of this show!  They keep me motivated to stay smart with my finances, and I always come away with some new nuggets of knowledge.  Keep up the phenomenal work!

Great episode.  It's also great to hear from a family.  When I was single, FI was easy...it's COMPLETELY different with a family, from both the amount of money needed and the alignment of interests and habits.

Originally posted by @Tyler Wehrung :

Great episode @Mindy Jensen & @Scott Trench ! One request.  Chris and Debbie mentioned that they have a two year plan to account for health care changes and it was left at that.  This is my biggest question mark in my FI plan and I haven't heard you guys discuss it yet on the Money Show. 

I would love it if you could either bring someone on to chat about this challenge or if you would elaborate on it the next time it comes up.

Keep crushing it!

This is THE BIGGEST question I am asked, and with our current health care system about to dramatically change in November/December, almost any advice that we give now won't be relevant then. I'm keeping an ear on the news, waiting to see what is proposed as an alternative. End of October should be fascinating. I've got a couple of leads on the health share end - most of the early retirees I know use something like that.

Ah, makes sense.. thanks for the response I’ll stay tuned!

I'm really excited to listen to this! I have a 16 month old and my husband and I are thinking of trying for a second child in the next few months. I have $71k in student loan debt, BUT we are currently living on the 3rd floor of my parents-in-laws house (we get free rent, utilities, and internet) and with two incomes we're on track to pay off my student loans in 2 years and then our plan is to start investing in real estate to start on the path towards financial freedom!

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We have used Christian Healthcare Ministries to reduce our costs,  it is a health share as well I believe.  I am sure there are loads of similar alternatives out there though

This was a great episode as I learned a bunch. It just shows that anything is possible if you put your mind into it. Thanks

Great Episode!

In terms of health care, I have heard of some health sharing programs out there.

I subscribe to the Infinite Banking Concept to get to FIRE, and a lot of people using this concept are entrepreneurs who are a part of health sharing programs.

Keep up the good work on these episodes!

I would love to hear about a single parents doing this. 

On the healthcare front. 

Not the answer everyone is lookin for but I suggest listening to “The Retirement Answer Man Show” podcast #211 - 214.  He discusses the pros and cons of many of the options. A lot of good information. 

I LOVE this episode so much! It actually prompted me as a stay at home mama to join this community and continue learning ways I can support my husband on this journey.  We are currently house-hacking with our three young children and working towards FI in the next few years. Our journey has felt slow as we decided to have children while working on our first home, then made the decision to cut back to one income once baby #1 was born....when we initially thought it wasn't possible, the work we put into living on one income during that transition set us on this path to now THRIVING & nearing FI on just one income!  It's not easy, but it's TOTALLY possible!   Can't wait to continue learning from this amazing community! 

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