I found this video after reading an article about this woman and her husband. Here's the link - http://www.cbc.ca/news/business/house-investment-wealth-1.3716641?cmp=rss
The article explains how they retired in their early thirties. It's an interesting read.
I love this video! I would love more commentary from you though :) Upvoted.
I"m so happy I quit my job and start pursuing my passions. I used to work really hard for an employer and I never got what I want.
I dropped out of school and started living my dreams more people need to do this!
Thanks. Well since you asked, I will add my 2 cents on this topic. :)
I think this couple was able to pull this off for a few reasons. 1) They both earned $80k/year, which is a very good salary. 2) Their investments did exceptionally well. I believe their $500k investment doubled in 5 years. That's not a normal return. 3) They're intelligent and their goals are aligned. Sometimes, one partner likes to save while the other likes to spend. They're on the same wavelength when it comes to investing, home ownership and their future in general.
Personally, I think that if you live in a big city, owning a home costs way too much and most people can't afford it. Those who buy a home and obtain a $500k mortgage will probably run into trouble once (or if) the interest rates go up.
However, I think it's very difficult to retire in your 30s or even 40s unless you have a high paying job. In order to invest hundreds of thousands of dollars, you first need to earn it and if you're making minimum wage or slightly better and you have significant expenses, saving money is extremely difficult.
I thought their story was worth posting here though.
[-]
kaylinart, I'm glad that you're living your dream. Keep on keeping on!
Excellent