Steve, creator of Save money on retirementI retired at just 35 years old! His moving story caught our attention, and we reached out to him and his wife to interview him and his wife about their incredible journey to early retirement. With many couples in their 30s achieving financial freedom, we wanted to get an internal scoop. enjoy! – A savvy couple
“We are not rich. We are not strong. In fact, we don’t consider ourselves as ‘smart cookies’. Instead, we sold both homes and we retired early. ”
1. Tell readers a little about yourself, your blog, and early retirement.
Steve: I am 35 years old and my wife is 32 years old. We both left our jobs to pursue a life of full-time travel. The blog is designed to document our journey and continues to do so. We retired from relatively high-paying jobs in it, saving about 70% of our salary. It quickly increased, making early retirement a reality.
2. We walked us down the stairs we took to retire early. What was your first move?
Steve: The first step was to decide what we were retired. Without a purpose, you risk extreme boredom. For us, it was a trip. He explained his journey through his blog (ThinkSaveretire.com and FulltimeExplorers.com) and his YouTube channel, Streamin’ Life. From there, we reduced unnecessary spending and focused on essentials. We gradually reduced and realized that we had little need to be truly happy.
3. What would you say if a recent graduate asked for your best advice in a few minutes?
Steve: I ask: Do you want to work in a fluorescently lit office until you are 65? If not, don’t live like your mates. Save your hard-earned cash and prioritize the future. It is the key to your freedom.
4. What was your wake-up call saying that a 9-on-5 grind wasn’t for you?
Steve: It hit me 12 years ago right after I entered the workforce, but until a few years ago I didn’t act. Married my wife, I was given a push to focus on combining finances and actively saving.
5. What changes have you made to actively save yourself for early retirement?
Steve: There are no magazine subscriptions, cable TV or annual phone upgrades. We evaluated all the purchases and asked if it was worth working longer to pay for it. Most of the time, the answer was no. We valued freedom over material things.
6. Why did you choose to live in Airstream instead of an RV? How is life different on the road?
Steve: My dad suggested Airstream. It’s perfect for us. Life is different, but easy to manage. Living 200 square feet simplifies things. It takes a few minutes to clean, but you won’t miss the space you gave up on.
7. Are you planning on working digitally to earn additional income during your retirement?
Steve: I’m not going to work full time again, but I enjoy some side projects. The moment they stop enjoying it, I stop. We don’t rely on extra income, but it’s good when it happens. For example, my blog makes around $10,000 a year.
8. How did you know you could retire from a bank for less than $1 million?
Steve: We modeled finances using tools such as Firesim and Personal Capital. These tools showed that they are likely to succeed using the 4% rule. Flexibility is important. Ready to adjust as needed.
9. Your investment is still growing even when you retire. How can you explain it?
Steve: We withdraw about 3.5% per year, but our investments increase on average by 5-8%. Most of our money is in Vanguard’s targeted retirement fund, maintaining a three-year living expenses in a savings account for stability.
10. Has downsizing improved your happiness?
Steve: absolutely. The happiest we are. Simplifying your life means having less to maintain and more time to enjoy. I haven’t missed anything I gave up.
11. Tell us what you’re interesting about: your passion, motivation, or lifestyle.
Steve: We don’t have children. I’m a fitness enthusiast and a fan of Erin Broccovich in the film. Photography and videotaping are my biggest hobby, and our YouTube channel allows you to explore those passions.
12. In some sentences, what does early retirement mean to you?
Steve: Early retirement is free. It is welfare to spend time and choose a way to withstand conditions long before the traditional retirement age.
The couple’s story is evidence that early retirement can be achieved through discipline, focus and clear goals. What part of their journey inspired you the most? Let us know in the comments below!