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Two couples were interviewed about why and how they retired very early without being millionaires. Both have been successful. Both are major savers as you would expect, but their investment strategies have differed.

First couple:

* Retired when they were 38 years old (17 years ago)
* Retired with $500,000 which has grown in the stock market for the last 17 years. Initially invested in a low-cost index fund.
* They've lived on an average of $24,000 a year
* sold their home when they retired and remained homeless while they explored the world

Second couple:

* Retired more than 12 years ago
* Retired with $135,000 each
* Each contributed $50,000 to buy land where they built their home
* The remainder of the money went into certificates of deposit* They lived on $400 a month

Some common traits include avoiding debt like the plague, living below their means even if investments had a hot year, no interest in buying the latest stuff and finding passion outside of a career.

 

Submitted: Nov 28, 2007    Views: 610    Comments: 0    Likes: 3   


View Article: http://www.bankrate.com/brm/news/retirement/20071112_early_retireme...


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