How One Couple’s Change of Mindset Allowed them to Retire at 43

Oct 30, 2017 | Retirement Planning

senior couple of old man and woman sitting on the beach watching sunset

With the reverberations of the financial crash of 2007 still being felt, and pension funds collapsing like BHS, the idea of somebody retiring before you hit a ripe old age has become a fictional notion. Yet an American couple have managed to do exactly that at 43. Not only are they on course to manage to retire in 2020, they also built a $1m dollar portfolio to facilitate it.

So how did they do it?

Mr and Mrs 1500, the pseudonym of the couple who will be retiring when they hit 43, said they had a moment of realisation while at work. Carl, was having a horrific work day and decided he couldn’t keep working until the day he retired. So after a discussion with his wife Mindy they set to work to raise a $1million dollars and debt free by February 2017.

They have achieved this goal and are now on course to retire in 2020 aged just 45.

They set Financial Goals

Mr and Mrs 1500 had already started saving for retirement before they set themselves an ambitious target. They had maxed out their 401(k) account and had downsized property as much as possible. In so doing they moved to Colorado where the cost of living is significantly lower than some parts of America.

They have two children

They worked out their annual expenditure and added some extra for a safety net. This came to $30,000 a year.

The next thing they did was they tracked every penny they spent. This allowed them to cut unnecessary expenditure and this arguably was the crucial change in their mindset. They didn’t go for expensive phone plans and cancelled cable TV. As Mindy 1500 pointed out, they didn’t add value to their lives so they ditched them.

Carl works as a computer programmer and does jobs on the side to boost income. This takes the form of his real estate investment blog but he writes apps and fixes homes too. Mindy stays at home with their two children.

They also made smart investments. Although Carl is an advocate of index-funds, he invested in Facebook buying 2000 shares at $30 each. Now they are worth $120 each.

Cost cutting and increasing income has helped the 1500s considerably. This has freed up cash to invest and at 43 they will retire.

Retiring Sooner not Later

Although you can argue what they have done is extreme it is highly effective. If you are planning something similar or you have resources you want to invest, I can help you get the best returns. I am an award winning financial planner and have helped hundreds get the best return possible. Contact me and let’s do the same for you.

For more information, please contact Michele Carby at Holborn Asset Management on +971 50 618 6463 and on e-mail at [email protected]


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