A Story of Financial Success: the FI Couple

I love hearing about people that take control of their finances and proactively go after financial security. It’s inspiring to hear these accounts, like the FI Couple, plus it’s a great way to get inspired, pick up a new tip, or learn a new strategy. 

Financial security is more attainable than most people think. That’s why I love hearing real-life accounts of people working to take financial control of their lives!

Introducing the FI Couple

This month I’ve been particularly inspired by a couple I’ve recently met, Ali and Josh Lupo, better known in the social media world as the FI Couple. Here are just a few highlights of their story!

Paying Off $100,000 in Debt

After college, Ali and Josh found themselves working long hours, facing a mountain of student debt, and not being able to keep up with their expenses. They found themselves with the worst of all worlds – they were working long hours, not enjoying their quality of life, and falling further behind financially. 

So they decided that they needed to make a change. They started by reading, researching, and listening to experts. Then they took what they learned and started working hard. 

One of their first steps was “House Hacking.” They bought a duplex where they lived in one side and had a Tenant in the other side. This drastically reduced their housing expenses – cutting them from around $1,300 to $400 per month. At the same time, they took control of their monthly budget, making sacrifices in the short term to save money that could be invested for the long term. 

View this post on Instagram

A post shared by ezLandlordForms | Customizable Landlord Forms & Tenant Screening (@ezlandlord)

After a few months of these changes, they were able to buy a second duplex, which meant that they had income from three separate Tenants. This rental income more than covered their living expenses, leading to a first major milestone: they were living for free and saving some money every month. 

Thanks to their efforts to learn, try new things, and work hard, in less than 3 years they were able to: 

1. Pay off $100,000 in debt
2. Purchase 2 investment properties 
3. Begin investing in the stock market

A Diversified Investment Strategy

Their strategy is so simple and so ingenious. Ali and Josh first found a way to take control of their monthly expenses, which then gave them enough to start investing. Once they started investing, they made good decisions which led to increased cash flow and more investments. 

They turned their financial cycle completely around and put themselves in a position to further increase their monthly and annual income. 

While they started by investing in real estate, Ali and Josh strive to have both active and passive income and diversified assets. Their areas of focus are: 

1. 1. Rental Properties. The Lupos have continued to buy “super local.” They invest in their neighborhood, where they understand property values and can easily manage their properties. Their goal is to buy locally, improve the property, and offer quality, affordable housing in their community. Their big goal for their rental portfolio is to be “strong but mighty,” with around 14-16 properties in their area.  
   2. A Stock Portfolio. Ali and Josh also want to have a stock portfolio as part of their diversification efforts. When it comes to stocks, they focus on index funds, exchange-traded funds, and earning dividend income.
   3. A Cash Cushion. Finally, they prioritize having a cash cushion to ensure that they’re able to handle any expenses that arise and avoid taking on any bad debt. 

Big Financial Goals

Besides being impressed by what they’ve accomplished, I’m really inspired by the way Ali and Josh approach their goals of achieving financial independence. For them, it’s about the journey, not the destination. They’re not focused on money so much as they’re focused on taking control of the quality of their life. 

For them, the goal isn’t to retire in their 30s and never work again. Instead, they’re working for financial independence so they:

1. I no longer need to have a job. 
2. Can make money doing what they love. 
3. Work with people that they enjoy and are inspired by. 
4. Will have a positive impact on their community and world. 

Wow! What more can you say? I love what they’re doing, how they’re doing it, and why they’re doing it!

I hope you’ll follow them on Instagram to learn more about their story and get ongoing tips for becoming financially independent. 

I’d also love to hear other stories from investors in our community. Have you made some major shifts to work towards financial independence? Do you have an investment story that could help others gain the confidence or expertise to make progress towards their goals? I know so many of you do! Please share them here so we can all learn from your experience!