130: Refusing to Retire at 65: How a Couple in their 40s Managed to Hit FI in 12 Years with Susan and Norm

Susan and Norm got married a little later in life. They started off basically flat, with debts equalling assets. Neither wanted to have the debt, and focused on paying it off and building an emergency fund.

Then they discovered that they could retire early if they put their minds to it. So they jumped in with both feet, paid off the mortgage, bought an investment condo, paid it off, and aggressively saved to buy the second condo.

From the time they met until the time they were ready to retire, starting with basically a $0 net worth, was 12 years. Starting at age 43.

The one constant in their journey is their partnership, their commitment to each other and the end goal, and their desire to “be in this together.” Susan and Norm have a very clear respect and love for each other, never keeping score, never trying to hide a mistake from the other, always recognizing that they’re building their life together.

When starting on the journey to Financial Independence, it can be difficult to say the course - especially when your journey starts later than most. Susan and Norm and an excellent example of what CAN happen when you make a goal and aggressively pursue success.

This episode is for anyone who is struggling in their journey to FI, have hit a setback they feel is insurmountable, or anyone who is just getting started on their journey a little later in life.

In This Episode We Cover:

• When did they start saving for retirement
• How they approach the conversation about money
• The decisions they make on housing, transportation, and food
• How they paid off their debt
• What their emergency fund looks like
• What their company do
• What they learned about the 401k benefits from a self-employment perspective
• Talking about their multiple income streams
• The book that made their mindset shift
• Peer-to-peer lending
• What they will do when they are fully retired
• And SO much more!

Links from the Show

• BiggerPockets Money Facebook Group
• BiggerPockets Money Podcast 24 with Erin Lowry
• Cash Cow Couple
• Personal Capital
• Dave Ramsey's Financial Peace University
• Starting Late, But Retiring Early: A Case Study
• Mindy's email

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