Shifrins and Wisneskis: The Latest Millionaires in the Making

A reader informed me today that CNN Money has rolled out a couple of new Millionaire in the Making profiles.  I've updated my complete list of Millionaire in the Making series profiles to include these two new couples.  I've also subscribed to CNN Money's Personal Finance Feed so I wouldn't miss another new profile.  I read the profiles and want to share some of the highlights with you and get your thoughts.

The Wisneskis: Future Millionaires (x3)

One couple, Nate and Nicki Wisneski, are 27 and have been together since seventh grade.  They have a six year-old and live in Oneida, WI.  They're doing an excellent job with their combined incomes and are set to retire at 65 with more than 3 Million.  See more of their profile.

Meet The Shifrins: Future Millionaires

The Shifrins are both U.S. Army Captains at the age of 27.  They (Matthew and Kristen) met a few years back while based at the same location.  They got married a year and a half later.  They've served in Iraq and plan on retiring with the Army.

Not great savers on their own, since married they've been on a tear.  Being deployed in Iraq for a while, along with their newly found passion for saving their money, helped them to be way ahead when they returned.   Here are their current stats according to the CNN profile.

Since their return from Iraq, the Shifrins now save one of their paychecks and spend the other.  This is similar to the automatic savings strategy that Mrs. PT and I are now using.

The Shifrins are definitely in excellent shape for a married couple their age.  I'm impressed.  They've been very wise with their decisions.  The question now is what to do with that $20,000 in credit card debt?

Considering they will be buying a house within a year, what should be their strategy with the debt?  Leave your suggestion in the comment section below…

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Last Edited: July 25, 2017 @ 5:56 pm
About Philip Taylor

Philip Taylor, aka "PT", is a former practicing CPA, blogger, podcaster, husband, and father of three. PT is also the founder and CEO of FinCon, the conference and community dedicated to helping other financial influencers and brands. He created this website back in 2007 to share his thoughts on money, hold himself accountable, and to meet others passionate about moving toward financial independence.

PT uses Personal Capital to keep track of his financial life. This free software allows him to review his net worth regularly, analyze his investments, and make decisions about his financial future.

PT keeps a portion of his emergency fund in Betterment, the automatic investing tool that makes investing super simple. Betterment focuses on what matters most: savings rate, time in the market, investing costs, and taxes. PT recommends this service to anyone looking to get started investing for themselves.

All the content on this blog is original and created or edited by PT.


  1. @J – It sounds like you have a very low risk tolerance. I appreciate your continued comments and look forward to more from you.

  2. Don’t do the personal loan!! It’s right up there with a 0% credit card advance…there’s always a fee percentage. Paying interest on money you’re going to use to pay debt that is accumulating interest is a horrible idea (interest on interest….unless it’s coming to you, it’s killing you). They should use a debt-reduction ladder, and perhaps even forego the savings for a few months until that $20K is knocked way down.
    Use a different mind-set: savings and credit cards are both liquid, and revolving. As much as love seeing the savings account grow, having debt hanging over my head is painful.

  3. It really is amazing the power of compounding interest! Some say it is the most powerful force on earth. Clearly that person wasn’t a scientist 😉

  4. With their income and saving strategy, they should be able to knock out that debt very quickly. I would be uncomfortable with that much CC debt hanging over our heads

  5. Pete @ says:

    get rid of that debt! debt=bad 🙂

    seriously – i think i would get that debt paid off asap – debt snowball – here we come!

  6. I agree on getting rid of the debt asap. If they saved $50,000 then they can surely save $20,000 to recover from paying off the debt.

    I think the CNN expert suggested taking out a personal loan to eliminate the cc debt, but to hold on to all the cash.

  7. Since lending practices for homeowners have drastically tightened in the last several months, beating down the debt would be the smartest thing. Since they can already (essentially) get by on one check, the other should probably be split evenly between savings and CC debt. Besides the interest being a ton more than their savings rate probably is, that 20K outstanding could prevent a good mortgage rate.