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“In our opinion, People in their 50s panic because they haven’t saved enough yet and they only have 10 to 15 years until retirement, they save aggressively and end up retiring. Instead of panicking at 50, We did it at 23“Simpson said.
They are implementing this inspired by a project called FIRE, which is a model of financial independence and early retirement that provides economic security based on actions such as: saving most of their income, taking on side jobs or delaying “expensive life milestones”like having children.
Simpson reveals that People around him are not very convinced that this model can give him results. really effective, but both she and her partner remain hopeful that it might work.
What is the net worth of this American couple?
Both Simpson and Ian revealed to Business Insider who earn six figures a year, and FIRE-based savings are allowing them to get excited about their goal. She works in financial services as a marketing director and Ian works as an asset manager..
They explained that They used a method called “house hacking”which consists of moving every year when finding properties that are occupied by the owners, since in that way the buyer only has to pay a 5 percent down payment. Here’s how They took three properties, moving every 12 months for three years..
And that method was the one that worked for them today, have a net worth of US$834,000with the majority of that income coming from renting out the aforementioned properties.
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