A couple who reside in Las Vegas, Nevada, managed to retire at the age of 29, with a combined annual salary of $ 88,000.
Joe and Ali Olson, who are parents of three children under 5, did not win the lottery as many of their neighbor think. But in reality, the process was much more complex.
The key to success is persistence and a little time, they said in an interview with CNBC.
“We worked for 8 years. And during those years, we did everything we could to increase our income. We did tutoring, we taught on weekends and in the summer, ”explains Joe.
“To reduce our expenses, we lived in a small apartment of 400 square feet. We had a used car that I had during my studies and that we kept all this time, ”Ali adds.
Now aged 35 and 34, the couple got married while they were in college. They both started their careers as teachers in 2008, shortly after the housing crisis that rocked the region.
Joe and Ali explain that they have maintained the thrifty lifestyle they had when they were students. They saved nearly 80% of their salary. With these savings, they bought rental housing.
“We did not deprive ourselves of anything. We were not unhappy. We liked the simpler things like a picnic in the park or watching a movie at home, ”says Joe.
In 2020, the pair owned 19 homes located across the United States. They both quit their jobs when their investments fully paid off their combined annual salary of $ 88,000.