Susan, a stay-at-home mom, and Jeff, a surgeon, have worked hard for decades and are now worth over a million dollars. They have been married for 19 years and have two kids. As responsible parents, they signed up for long-term insurance policies, ensured their children had what they needed, and even partnered with a financial advisor when things got complex.
Now, they are $914,000 deep in debt despite an annual income of $665,000. In a podcast with millionaire author and the host of Netflix's "How To Get Rich," Ramit Sethi, the couple realized that 70% of their annual income was fixed costs and they are on track to lose over $800,000 in financial advisor fees over the next three decades.
