Forget College! Enlist and Be a Debt-Free Military Millionaire

Interesting YouTube videos highly rated causes Of Debt, Getting Out Of Debt, Cash Advance, Eliminate Unsecured Debt, and Are You Debt Free With a Mortgage, Forget College! Enlist and Be a Debt-Free Military Millionaire.

Military benefits make it easy to become a military millionaire. From savings plans to free housing and food to tuition assistance, the military sets you up for success. But, does college do the same? Typically, twenty-two-year-olds fresh out of college are launched into the workforce with a lot of debt and little life experience. So how do you enter the workforce debt-free with life experience? Join the military.

Today’s guest, David Pere, is a financially free veteran with 100 rental units, all thanks to his time in the military. He enlisted fresh out of high school in 2008. While he did the usual “stupid young guy stuff” for a few years, once he read “Rich Dad Poor Dad” in 2015, he decided to get serious about financial freedom. After thirteen years of active duty, in 2021 he was honorably discharged with a net worth of a million dollars.

The military offers various benefits, from the ability to learn trades to getting life experience to its financial advantages. As a service member, you are in an ideal position to become financially free. Your housing and food get paid for, and you have access to government-backed savings plans and loans. You also get tuition assistance for yourself and your family. With all the support and benefits the military provides, you can start building the life you always dreamed of straight out of high school.

Show Notes at:

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Find a VA-Friendly Lender Near You:
https://www.biggerpockets.com/loans?utm_source=youtube&utm_medium=description&utm_campaign=none

Check Out Money Episodes 44 & 303 to Learn More About Becoming Financially Free and Mortgage Tips: 
Episode 44: https://www.biggerpockets.com/blog/biggerpockets-money-podcast-44-diy-fi-tinian-crawford?utm_source=youtube&utm_medium=description&utm_campaign=none 
Episode 303: https://www.biggerpockets.com/blog/money-303?utm_source=youtube&utm_medium=description&utm_campaign=none 

Go to David’s Website to Learn More From Him:

Home

Get David’s Book—"The No B.S. Guide to Military Life": 
Book | The No BS Guide To Military Life!
 

Listen to The Military Millionaire Podcast:

The Military Millionaire Podcast

Follow David and His Journey on Social Media: 
Facebook: @militarytomillionaire or https://www.facebook.com/frommilitarytomillionaire/ 
Twitter: @military_to or https://twitter.com/military_to 
Instagram: @frommilitarytomillionaire or https://www.instagram.com/frommilitarytomillionaire/ 

Use CrossCountry Mortgage to Help You With Your VA Loan:
https://crosscountrymortgage.com/

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Connect with David and Mindy on BiggerPockets:
David: https://www.biggerpockets.com/users/usmc3140?utm_source=youtube&utm_medium=description&utm_campaign=none
Mindy: https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none

Episode 337

00:00 Intro
02:20 Enlisting vs. College & Combat Benefits
14:20 GI Bill & Free Skills You Can Learn
28:23 The Biggest Investing Benefit: The VA Loan
48:42 House Hacking with a VA Loan
51:16 Connect with David!

#biggerpockets #biggerpocketsmoneypodcast #episode337

Are You Debt Free With a Mortgage, Forget College! Enlist and Be a Debt-Free Military Millionaire.

The Ultimate Objective Of Living Financial Obligation Free

Types of credit accounts open – Credit cards are called Revolving Debt. By discharged, that suggests all or a part of them will be completely eliminated. Likewise, list the minimum monthly payment due to each financial institution.

Forget College! Enlist and Be a Debt-Free Military Millionaire, Play latest updated videos about Are You Debt Free With a Mortgage.

Being Debt Free After Bankruptcy

Never ever let the unsettled loan balance go beyond the original loan quantity. Evaluate the reasons that you use your credit card. Nevertheless, to organize your money, set yourself a standard spending plan.

It’s a truth – great individuals have uncollectable bill. And great deals of it – the typical American home carries about $8,000 in credit card debt alone. We hold a total of $1.9773 trillion (yes, that’s a trillion, a thousand billion!) of consumer financial obligation – $18,654 per home. And, 44% people spend more than we make. Cinema TVs, the most recent in clothing and suppers out – 4.2 meals each week – aid contribute to this financial obligation. If you are part of the financial obligation crowd, you may already be questioning how to cure your financial obligation problem. What can you do to reduce debt? I’ll show you three simple, yet effective, ways to start cracking away at those high balances – today.

UnSecured Debt is debt that is not Secured Debt-it isn’t connected to any particular possessions. Even if a financial obligation is “unsecured” does not imply that you can not be taken legal action against for the debt. On the contrary, it suggests you should be sued personally for the debt collector to gather any money. The creditor then “enforces” the judgment versus you by garnishing salaries or attaching accounts. However this can be hard for numerous reasons.

The average owing on charge cards was $2200. That suggests that half of homes with balances had more and half less. Nevertheless, the average home’s customer indebtedness reached 5% of their total yearly income!

Prioritize: Once you have familiarized the exact quantity you have to repay, you require to focus on the payments. Consider which ones you will be paying quickly and which ones later. If you have a number of financial obligations is to pick those that have greater rates of interest and pay them back immediately, the best thing to do. Otherwise you will be paying more monthly consisting of the interest and it will be difficult to be Debt Free. So try to pay off the loans which have greater interest rates. Then settling the smaller ones can be a breeze. Some individuals nevertheless, believe the other method round. Make the top priority list according to your benefit.

The outright finest thing you can do to manage your Revolving Debt is to cut all of your charge cards in half. Sound dramatic? Sure, it is, however it is one way to ensure that you stop adding on to the amount that you owe.

Anytime one does a “no PMI” loan the financial obligation ratio is a big concern as 2nd lien business are typically more stringent than the first lien mortgage business. 2nd lien business generally prefer DTIs in the 40-45% range. Of course, if one’s financial obligation ratio is greater than 45% they’ll most likely simply need to get a single, first lien which will include PMI.

Here is a pointer for you, among the best option to get secured loan is a house debt consolidation loan. It has low interest rate. As there is no danger of losing your home or automobile. If you are unable to pay, it will be challenging to discover a good deal on secured debt consolidation. If it is tough for you to pay the lump amount or little payments, inform the company about it, they may inform you any much better way to pay your financial obligations OR they might include your payments to previous payments and make it balanced. Being polite can also be very advantageous, as the company agent can help you sort out many problems.

Second of all, require time to comprehend the terms and conditions of the contract that you sign with your card company. Nevertheless, do not do this till your debt is settled.

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