Episode 69 is all about how one queer, married couple is pursuing FIRE while earning different salaries. Listen to this episode to hear about a journey to FI/RE, love and money, and a six-figure debt payoff.
For Episode 69, we have G and J, the anonymous married couple behind Gay Husbands on FIRE.
This millennial couple is in their early 30s, living in NYC, and planning for a life of financial independence. J is originally from Colorado and G is originally from Colombia. They met in Philadelphia in 2013 and have been living together since 2015. They’re DINKs (double income no kids) on a journey to reach FIRE within the next decade! You can follow their journey on Instagram.
In Episode 69, Gay Husbands on FIRE talk about:
- Inheriting a money mindset based on your country of residence—while G does not identify as having been poor while growing up, he also does not identify as having been raised in a financially privileged home. Some of this is tied to the larger conditions his home country of Colombia was facing. This is particularly relevant for immigrant individuals pursuing FIRE in a country that values consumerism, entrepreneurship, and individualism, which are very specific to American culture.
- Talking about money in new relationships—J and G did NOT wait to start talking about money. Part of the reason for this was G’s massive amount of student debt that was looming over him. Talking about money openly through the start of their relationship made it so that they both understand where each of them was coming from, financially and priority-wise.
- Finances when you move in with your partner—it’s one thing to talk about money when you’re at the start of your relationship. It’s a completely different thing to talk about finances once you start living together. J and G talk about the different things they tried before they got to the system they use now, where they comingle their assets.
- Paying off debt from a place of fear—after going to law school and accruing a six-figure debt, G carried constant anxiety with him. While he was able to secure a high-paying job thanks to his law degree, he was making little progress towards his debt because of his spending. Eventually, he reached a point where he had to act upon it and they became debt free in 2016, before even discovering FIRE
- Their rabbit hole towards FIRE—they talk the books they read, what they learned, what shocked them, their why and what it felt like to save their first $100K.
This is the episode to listen to if you’ve ever had questions about how to talk dinero with your partner or how to create a life together with someone who has a different salary than you do. Check it out!
YQD + Better Help
This episode is powered by BetterHelp – Professional Support When You Need It, At The Fraction Of The Cost Of In-Person Therapy. Get 10% off your first month just for Yo Quiero Dinero listeners, just use the code “dinero” at checkout!
Check out these Yo Quiero Dinero Partners to accelerate your investing goals!
SoFi Invest – Fund an Active Investing account with $1,000 or more, and you’ll get $50 in free stock!
Public – Investing meets social media. Start trading with any amount of money, commission-free and chat with other investors about their moves today!
Webull– Trade stocks, options, ETFs, all commission-free, $0 minimum deposit. Now open an account, get a free stock.
Roofstock – Earn passive income by purchasing rental homes with tenants.
Fundrise – Invest in REITs & earn passive real estate income! Have your advisory fees waived for 90 days.
Rocket Dollar – Rocket Dollar account holders have the power to invest in any asset class allowed by the IRS. Invest securely and easily in Real Estate, Startups, and more. Open a Self-Directed Solo 401(k) or Self-Directed IRA with Rocket Dollar and put your money to work.
New Street Advisors Group – a commission free, fee-only fiduciary Registered Investment Advisor (RIA). Their mission is to provide transparent financial planning, portfolio management and investment advisory services to their clients. Check out our episode with their lead advisor, Delano Saporu!