5 books and podcasts that helped Sonim and Tovar Israel build wealth

  • Brothers Sonim and Israel Tovar built a combined net worth of $325,000 before turning 30.
  • Both have built emergency and investment savings portfolios with salaries under $70,000 each.
  • The “Broke Millennial Takes On Investing” and “Yo Quiero Dinero” podcast have had a huge impact.

Brothers Israel and Sonim Tovar came from humble beginnings. “Our parents were able to raise a family of eight in Los Angeles in the early 2000s with a salary of $17,500 a year, so we grew up with a lot of financial shocks and a dearth of money,” Israel tells Insider.

When they decided to start their financial freedom journey in 2018, Israel was earning $44,000 a year as a teacher, while Sanim was earning $20,000 a year in student loans of $42,000. “Literally all of my money was going to pay off my loan,” Saneem says, “and I was starting to get really upset about it.”

The two decide to hold each other accountable on their journey to become debt free and build Total wealth $325,000They say three books and two podcasts helped them reach their goals.

1. “Your Money or Your Life” by Vicki Rubin

Your Money or Your Life by Vicki Rubin This is a nine-step guide to changing the way you think and habits about your money. In the book, Robin encourages readers to consider their time – or “life energy” – their most valuable resource, a limited resource you can’t afford for a nine-to-five job for the rest of your life.

Sneem says, before reading this book, “I was just concentrating on paying off debts, but after reading the book, I started investingbecause I realized I didn’t want my employer to dictate my time or my life energy forever.”

2. “The Simple Path to Wealth” by J.L Collins

Financial independence blogger J.L. Collins wrote The Simple Path to Wealth: Your Roadmap to Financial Independence and a Rich and Free Life to his daughter, to prevent her from making the same mistakes he made with his own money. The Simple Path to Wealth encourages readers to spend less than they earn, invest the surplus, and avoid debt at all costs to achieve financial independence.

“By the end of the book, the reader understands that building wealth doesn’t have to be difficult,” says Sneem. “I would recommend this book to many because it was so easy to understand, with captivating stories that motivate people to begin their wealth building journey.”

3. “Broke Millennial Takes on Investment” by Erin Lowry

The Tovars swear by the best-selling author Erin Lowry “Broke Millennial Takes on Investing” Because it breaks down complex financial terms and concepts into simple language.

Sneem has a master’s degree in finance, but she admits that financial terminology is confusing and difficult to understand even for someone with her education. Sneem says, “Lowry makes financial jargon easy to digest for the average individual.”

4. “Journey of Departure” by Jamila Sovrant

Jamila Suffrant invites guests and experts to discuss budgeting, paying down debt, and investing in her podcast,”take off journey. “

Launching Journey helped me a lot when I left my first teaching job, He had a mortgage“Debts, no plan or financial literacy,” Israel says. “This podcast motivated me so much to put my money in order, build wealth, and clarify my life goals.”

5. “Yo Quero Deniro” by Janis Torres Rodriguez

Jannese Torres-Rodriguez has started the audio broadcast “Yu Quero Deniro” for the Latinx community, but also invites people of color to share their stories and experiences to promote economic solidarity among all people of color.

Israel says, “I started listening to this podcast when I was already on my way to financial independence. With her infectious energy, culturally responsive lens, and inspiring guests, Janesse encouraged me to continue my financial journey even when it got tough.”

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