In the early retirement movement, becoming a millionaire is a crucial part of the financial path. While everyone has different spending habits, the first million will allow you to start pivoting so you can make choices for your enjoyment, not just for the sake of money. But when is it too late to start making these moves? Is there a certain point where early retirement, or retirement at all, is off the table? If you think so, listen to today’s episode with Courtney Robinson.
Courtney was raised frugal, and unlike most, she never strayed off that path. Buying old cars, eating at home, and seeing matinee movies were the norm for her, but this began to get harder and harder as her family grew. Courtney was raising four children on her own, making only $15,000 per year, with multiple debts to pay off. But now, only ten years later, she’s a millionaire with equity, retirement investments, a large cash reserve, and multiple rental properties.
How did she make the switch in the later period of her life? Courtney goes over the tips and tricks that led her and her husband out of bankruptcy, into investing, and eventually to millionaire status. By no means was this an easy or quick journey, but Courtney serves as living proof that even if you’re in your forties or fifties, you still have plenty of time to build a strong financial foundation, and maybe retire early!
00:00 Intro 01:24 Learning Frugality and Living Lean 07:20 Bankruptcy, Debt, and Budgeting for 4 Children 17:27 Buying, Building, and Selling Their Homes 28:09 Retirement Accounts and Emergency Savings 32:25 Millionaire in Just 10 Years! 40:01 Current Costs and Retirement Goals 47:15 Famous Four 50:43 Courtney is Coming Back! #biggerpockets #biggerpocketsmoneypodcast #episode333
