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7 people who retired by age 45 share their top tips
Retiring early requires discipline, rigorous saving, smart investing, and living frugally, say these seven people who retired by 45.
By Liz Knueven
Retiring early is a dream for many Americans, but retiring by 45 or earlier takes discipline. You’ll need to save rigorously, invest wisely, and live frugally long before you retire.
Retirees suggest taking up side hustles, communicating with your partner, and expecting the unexpected.
It’s not about stockpiling money — it’s about growing that money
After retiring at 37, Chris Reining decided to stop focusing on stockpiling savings and instead figure out how to make his money grow.
“Maybe having a mountain of cash helps you sleep at night. That’s fine,” he writes for Insider. “However, if the money was invested in the stock market where the average return for all 30-year periods is about 10%, a single $25,000 investment can grow to $400,000.”
He cites opportunity costs as a big source of losses among those retiring young. He asks: “Doesn’t that difference of $375,000 seem like an enormous price to pay?”
