Jasmine and Jay McCall at Christmastime. Courtesy of Jasmine and Jay McCall

Money milestones: Paid off $126,000 in student loans and earned $100,000 in passive income in just four months

Personal finance book recommendation: "The Total Money Makeover" by Dave Ramsey

Jasmine McCall made $100,000 in passive income in just four months by selling digital products that help others repair their credit and prepare for the homebuying process. She and her husband, Jay, also worked together to pay off $126,000 in student loans in four years.

The McCalls say Dave Ramsey's "The Total Money Makeover" was instrumental in paying down their debts. The book taught the McCalls how to use the debt snowball method, which involves paying down your smallest debts first to build momentum towards tackling it all.

Early retirees Kiersten (left) and Julien Saunders. Phyllis Iller

Money milestones: Paid off two mortgages worth $200,000 and retired from their corporate jobs before turning 40

Personal finance book recommendation: "The Wealth Choice: Success Secrets of Black Millionaires" by Dr. Dennis Kimbro

When the Saunderses learned about the Financial Independence/Retire Early movement, they embraced the challenge of saving and investing aggressively. They started making passive income through a rental property, and have since paid off the mortgages on their rental property and their own home, totaling $200,000. 

The couple successfully retired from their corporate jobs before turning 40. They now rely on their investments and their blog Rich & Regular for steady income.

The book that influenced their financial journey is "The Wealth Choice" by Dr. Dennis Kimbro.

Julien says, "I'm very mindful of the work that he's done that is specifically catered to the Black community. He's someone who started preparing people in my generation for having those conversations about money. I take great pride in knowing we may have the opportunity, through Rich & Regular, to fill the gap along with others in that space."