Early Retirement

Our family is on track to be millionaires by 35 (just a few years away!) and Financially Independent (“F.I.”) by 40. Being F.I. means we’ll have enough assets producing passive income to the point that we shouldn’t ever have to work again. What we do after that point will be completely up to us!

Many factors helped make this possible … but one of the most powerful is being a D.I.N.K. (Duel Income, No Kids – hence the blog name) family.

Being D.I.N.K.s allows our family to spend significantly more time focused on our careers than would be possible if we had children. For example, both my wife and I attended grad school at night, while working full-time jobs. Thankfully it was worth it – leading to massive boosts in our income – but could we have done this with children? Maybe, but it certainly wouldn’t be ideal. Additionally, kids are sooooo expensive! Avoiding day care bills, colleague tuition, food, clothing, baby gear, etc., has saved us a lot over the years. While financial considerations didn’t factor into our decision to not have children, this sure is a great bonus of the D.I.N.K. lifestyle.

Another key to our success has been having a plan and sticking to it! We track all our expenses and monthly budget using Mint.com (which I highly recommend). While budgeting is obvious and very basic, it is the foundation of our success because it enables us to prioritize our savings over useless consumerist expenses.

For long-term planning I’ve developed a yearly plan that lays out specific annual goals … which is much less intimidating than the massive total amount needed for early retirement. Below is a snapshot of our annual goals for the cash portion of our portfolio. As you can see it is ambitious, but not overwhelming, when you focus on just one year ahead. This plan doesn’t include our real estate property portfolio – which we would like to grow to 10 units by 2026.

These annual goals are possible because our household income is $280,000/year – which I realize is higher than most – but it’s not always been that way. Ms. D.I.N.K. and I have steadily grown our income over the years, which now allows us to now save ~half our income annually. Our savings primarily goes toward maxing out our 401ks and Roth IRAs (via backdoor conversion), paying off our six-figure student loan debt, and purchasing real estate investment properties.

Each month I post an update on our family’s net worth and progress towards F.I.

My hope is that these posts will help inspire you – while helping keep me accountable! Plus, Ms. D.I.N.K. hates when I talk personal finances with her – so you’re help keep my marriage strong as well 😊

Net Worth Updates: