-because where you get your information matters.
Welcome! My name is Ryan Luke and I am a father of three, a husband, a financial coach, and a full-time police lieutenant for a large agency in Arizona. I have been a sworn law enforcement officer for over 16 years and I love what I do.
As stated earlier, I am also married with three children and work off duty jobs like the rest of you. In addition, my wife is a stay at home mom so I know how financial issues can significantly increase stress in your personal life.
Flashback to the year 2009 – I was newly married with a brand new baby. We lived in a small condo I purchased in 2004 on an interest-only loan with a five-year Adjustable Rate Mortgage (ARM). After having our first child, my interest only loan was restructured due to my five-year contract running out.
After the mandatory restructure, my payment skyrocketed and I was unable to make my mortgage payment.
**Insert an embarrassing foreclosure here.**
Newly married with a brand new baby and I was unable to provide for my family. That was the rock bottom for me.
Embarrassed, confused, and angry, my wife and I decided to change our course. We found I was the main culprit in our terrible financial situation because I was also spending about $1,000 a month eating out at restaurants.
We each had car payments totaling about $1,000 as well and lived paycheck to paycheck.
I nearly forgot to mention, I put my wife’s engagement and wedding ring on a credit card that we were still paying off. You read that right – my wife was helping pay off her own engagement ring.
Fast forward 10 years and we now have paid our new home off and have no debt to our name. We are essentially financially free!
I have always been interested in personal finance and the mystical way that people were able to live debt-free and exponentially grow their wealth. The problem was, I had no idea how to do it.
A little over 10 years ago I decided to meet with a financial advisor. During the meeting, I couldn’t help but look around the room and judge everything I was being told. I wanted to trust the advisor but I couldn’t help but feel like she only wanted my money.
Long story short, I left that office feeling even more uncomfortable with people in the finance industry. You can read more about my experience with the financial advisor if you want to learn more.
I decided that if I wanted to protect my family financially, I needed to at least learn the basics of personal finance on my own. Even though I have a Masters in Administration Degree, with a focus on Leadership, I was definitely not well versed in finance.
This began my long self-taught process by reading every finance book I could get my hands on, attending financial seminars, and actively listening to financial podcasts.
I quickly learned that financial education is something they do not teach us in school, at home, or in the police or fire departments.
Financial literacy is a first responder wellness program that is missing in most of our employee wellness classes.
Fast forward 10 years and I have committed most of my free time to run this blog and coaching first responders on how to make their money work for them, rather than working for their money.
Since I began, I have been featured on MarketWatch, Forbes, Fox Business, Experian, MSN, and USA Today. By focusing on providing easy to understand personal finance information to first responders, I have been able to help many of my brothers and sisters get out of debt and build wealth – even on a public servant salary!
Throughout my career, I repeatedly heard, “we didn’t become cops for the money.” This statement usually is said by those of us who have too many payments, and not enough money at the end of each month.
However, I have found that even on a public servant salary, we can still retire millionaires – in addition to our pensions! What’s more? It’s not as difficult as you think.
This blog is dedicated to helping you understand how to take control of your money, live debt-free, and retire with more cash than you ever thought possible.
There are three main areas of focus for Arrest Your Debt:
1. To provide trustworthy personal finance information to first responders.
2. To help first responders take control of their money and get out of debt.
3. To provide valuable resources and references to first responders to help them grow their nest eggs and enjoy the retirement they deserve.
Head on over to my First Steps page to find out what you can do to change your financial future. It’s time to dig yourself out of debt and eliminate your money problems once and for all – even on a public servant salary.
Because this is a mobile app, I will get notifications whenever you have a question. If I'm free at the moment, I'll respond, and if not someone in our community will!
Personal finance should not be a taboo topic. We are all in this together and together we are stronger. Let's build eachother up and cheer when we win and pick eachother up when we fall.