“From Debtor to Millionaire” is a captivating story shared by J.D. Roth, founder of the blog Get Rich Slowly and author of “Your Money: The Missing Manual.” I first met J.D. back in 2010 in Portland while I was still working. By then, J.D. had already carved a niche for himself in the personal finance realm, celebrated for his compelling storytelling and focus on reducing debt and embracing a frugal lifestyle. Despite our different backgrounds, fate has a way of aligning paths, and we’ve found ourselves in remarkably similar circumstances.
J.D. epitomizes what I consider a “blogging purist” – someone driven by a passion for writing, fostering community engagement, and considering income as a secondary motive. Inspired by his journey, I invited J.D. not for an interview, but to share his personal transformation from deep debt to financial freedom in just a few years.
J.D.’s story starts in a humble setting. Growing up in a single-wide trailer in rural Oregon, his family often teetered on the brink of financial instability, occasionally relying on their church community’s generosity during tough times. His father, a serial entrepreneur, experienced erratic financial success, which introduced J.D. to a life of unpredictable financial highs and lows.
In 1977, after his father sold a business for $300,000, the initial celebration was short-lived as the buyer soon declared bankruptcy, plunging the family back into financial uncertainty. This pattern of feast and famine persisted throughout J.D.’s childhood.
Determined to forge his own path, J.D. worked hard in college, balancing leadership roles and multiple jobs to support himself, which unfortunately led to the accumulation of significant credit card debt. Post-college, his debts grew alongside his expenditures, culminating in a staggering $35,000 in consumer debt by 2004, which left him feeling overwhelmed.
The turning point came one night in October 2004, after bouncing a check and missing a payment, J.D. decided to apply his business acumen to his personal finances. He envisioned himself as the CFO of “JD, Inc.,” strategizing to cut costs and enhance revenue just as he would in a business. This led to the creation of a three-year plan to eradicate his debt, a journey he meticulously documented on his blog, Get Rich Slowly, which resonated with and encouraged a community of followers also striving to improve their financial health.
By December 2007, J.D. had not only eliminated his debt but had also established a $5,000 emergency fund and significantly increased his monthly cash flow. The discipline and financial strategies he developed and shared transformed Get Rich Slowly from a hobby into a lucrative full-time endeavor. However, the rapid growth and public attention soon became overwhelming. In 2009, despite the financial success, J.D. sold the blog to return to a simpler life, although he continued to contribute as an editor and primary author for several more years.
The sale of the blog provided a substantial financial windfall, which J.D. managed prudently, investing in a diverse portfolio and spending modestly on personal pleasures like a used Mini Cooper and European travel with his wife. This newfound wealth allowed J.D. and his wife to maintain a comfortable lifestyle without extravagant expenditures, emphasizing the freedom and security that financial independence affords rather than conspicuous consumption.
Reflecting on his journey, J.D. acknowledges the profound impact of financial freedom on his life, allowing him the confidence to try new experiences and pursue personal growth. This transformation was not solely due to his financial success but also stemmed from a fundamental shift in his approach to life and money.
J.D.’s story is a testament to the power of self-discipline, strategic financial planning, and the courage to reshape one’s life. It underscores the notion that true wealth is not about accumulating money but about achieving the freedom to live according to one’s values and making informed choices that align with personal goals and happiness.
