Episode 359: How these Two First-Gen Latine Siblings Went From Paying Off Debt to Six Figure Net Worths

Jan 31, 2024

Israel and Sunem Tovar, first-gen Latine siblings, share their financial journeys and achievements. Israel built a six-figure net worth on a teacher salary and as a first-gen, openly gay Latino. Sunem built a $250,000 investment portfolio with a Master's in finance. They discuss their backgrounds, lack of financial literacy in education, and how they discovered personal finance through blogs and podcasts. Israel shares his journey to wealth and strategic financial decisions. Sunem talks about paying off debt, managing side hustles, and transitioning to aggressive investing. They emphasize the importance of family bonds and sharing knowledge with their siblings.

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Introduction

00:00 • 2min

A Meaningful Meeting and Gratitude for Listeners

02:24 • 4min

Educational Background and Financial Journey

06:24 • 27min

Building Strong Connections and Talking About Money with Siblings

33:09 • 3min

Building Wealth Through Home Ownership

36:01 • 22min

The Importance of Following and Supporting

57:57 • 2min

This week on the Journey to Launch Podcast we’re featuring Israel and Sunem Tovar, two first-gen Latine siblings who empower people to use money to live their lives on their own terms. They discuss their financial journeys & achievements by sharing how Israel built a six-figure net worth by the age of 26 on a teacher salary and as a first-gen, openly gay latino, and how Sunem built a $250,000 investment portfolio and holds a Master's in finance.

Despite attending prestigious institutions, Israel still felt that he initially lacked financial literacy. Sunem also reveals that she didn’t learn much about personal finance while pursuing her Master’s in Finance. It was through their siblings sharing information with each other that they discovered personal finance blogs & podcasts which helped them save, invest, pay off debt and start the journey towards financial independence.

In this episode Israel and Sunem discuss:

Their backgrounds, experiences with education, and how they navigated financial challenges.
Israel’s journey to building wealth, starting with a $45,000 teaching salary, buying a house, and making strategic financial decisions, such as living with roommates and aggressively investing in retirement accounts.
Sunem’s experience of paying off $42,000 in debt, managing multiple side hustles, and transitioning to aggressive investing.
Their upbringing in a Latino culture that emphasizes strong family bonds which shaped their desire to share knowledge with their siblings and build wealth together
The ethical considerations of investing in real estate, the importance of being intentional with spending + so much more.

Check out the video to this episode on YouTube below or by clicking here: https://youtu.be/fhU2Q_z3Z5A

Other Links Mentioned in episode:

Get The Budget Bootcamp for FREE
Check out my personal website here.
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Leave me a voicemail– Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
YNAB – Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 34 days trial of YNAB, my go-to budgeting app by using my referral link.
What stage of the financial journey are you on? Are you working on financial stability or work flexibility? Find out with this free assessment and get a curated list of the 10 next best episodes for you to listen to depending on your stage. Check it out here!

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