How To Achieve Financial Freedom in The Military with Rich Carey and Doug Nordman!

Episode: 131

Rich Carey and Doug Nordman

Join your hosts, David Pere and Alex Felice, with guests Doug Nordman and Rich Cary as they talk about investing and asset allocations during the pandemic. While in the military, Rich paid off $230k for a mortgage. Now, he's acquired a fourplex and six-plex during the pandemic as an addition to his properties.

Later, Doug shares a story on getting a 529 account for a granddaughter and explains what it teaches about picking an asset allocation that one can live with personally. For Doug, everything flows, first and foremost, out of figuring out what one can tolerate in an asset allocation.

In this episode, listen as they also throw in their two cents on scaling and managing properties and what they hold as personal opinions on what 'sure money' truly is, especially for service members.

About Doug Nordman and Rich Cary:

Retired at age 41 after 20 years with the U.S. Navy's submarine force, today Doug Nordman is an enthusiastic surfer, an omnivorous reader, a martial arts student, and a veteran of many chaotic home-improvement projects. With his retired Navy Reserve spouse, they raised their daughter in Hawaii.

Rich believes that conservative investing is superior to aggressive tactics. He's been successful with conservative index fund real estate investing. Rich currently owns 30 units, with 20 single-family homes paid off. He has served 20 years as a Special Agent in the Air Force (similar to NCIS). After retiring from the United States Air Force, he is now living in Montgomery, Alabama, where all of his properties are located.

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Sponsor:

The War Room Real Estate Mastermind Group: Email wrmastermind@gmail.com to apply!

Outline of the episode:

 

• [02:49] Acquiring a fourplex and a six-plex during the pandemic.
• [03:43] Cutting expenses by self-managing properties.
• [04:55] The experience of having problematic tenants during a pandemic.
• [06:41] On scaling with debts and self-managing your properties.
• [12:03] What do multifamily gurus warn about that needs to be noted?
• [20:12] "Pick an asset allocation that makes sense for you."
• [25:25] The thing with GameStop and the Casino Conundrum.
• [29:14] A personal opinion regarding index, TSPs, and IRAs.
• [31:56] Counting TSPs as reserves.
• [41:53] A financial advice to every service member.

 

Website:              https://the-military-guide.com/

https://richonmoney.com/

Linkedin:              https://www.linkedin.com/in/dougnordman/

Facebook:           https://www.facebook.com/doug.nordman.5

                                https://www.facebook.com/imrichonmoney/

Twitter: https://twitter.com/TheMilitaryGuid?

                                https://twitter.com/richonmoney?lang=en

                               

White Coat Investor - 150 Portfolios Better than Yours:

https://www.whitecoatinvestor.com/150-portfolios-better-than-yours/

 

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Sponsor:

The War Room Real Estate Mastermind Group: Email wrmastermind@gmail.com to apply!

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Real Estate Investing Course: https://www.frommilitarytomillionaire.com/teachable-rei

Recommended books and tools: https://www.frommilitarytomillionaire.com/kit/

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My name is David Pere, I am an active duty Marine, and have realized that service members and the working class use the phrase "I don't get paid enough" entirely too often. The reality is that most often our financial situation is self-inflicted. After having success with real estate investing, I started From Military to Millionaire to teach personal finance and real estate investing to service members and the working class. As a result, I have helped many of my readers increase their savings gap, and increase their chances of achieving financial freedom! - Click here to SUBSCRIBE: https://bit.ly/2Q3EvfE to the channel for more awesome videos!

THIS SITE IS INDEPENDENTLY OWNED AND OPERATED. ALL OPINIONS EXPRESSED HEREIN ARE MY OWN. THE VIEWS EXPRESSED ON THIS SITE ARE THOSE OF THE AUTHOR OR THE AUTHOR’S INVITED GUEST POSTERS, AND MAY NOT REFLECT THE VIEWS OF THE US GOVERNMENT, THE DEPARTMENT OF DEFENSE, OR THE UNITED STATES MARINE CORPS.