Want to retire early? How “going against the grain” allowed this FIRE couple to ditch their jobs and travel the world.
In fact, these days, the former Toronto-based computer engineer — who once was so stressed by her job she’d throw up regularly — can be found traipsing the world with her husband, Bryce Leung, 37. They’re now “fully nomadic” with no home base, having hit up Thailand, where they got beachside massages; Greece, where they island hopped and dined on fresh fish drizzled in olive oil; and Amsterdam, where they glided along the cobblestone streets on bikes.
Indeed, they do: Even when they were earning just $66,500 a year in combined after-tax income in 2006, they managed to save more than half of it. And as their income climbed, so did their savings. Here’s a look at exactly how much they earned, spent and saved to get to retire at 31, as well as their investing philosophy and tips for others who want to do the same.Shen and Leung broke down their estimated spending, earnings and savings for 2007 , 2010 and 2014 .
“We’ve gone against the grain,” says Shen. “Other friends were buying cars, buying houses. We did the opposite.” Indeed, in addition to not owning a car, Shen and Leung never bought a house — a move they say they’ve never regretted. “People have mortgages up to their eyeballs,” says Shen, who adds that always renting also meant less of a hassle for the couple. “We hear it from our friends -- the basement is flooding and they are complaining. We don’t have to deal with any of that.
Still, as Warren Buffett has famously said: “When trillions of dollars are managed by Wall Streeters charging high fees, it will usually be the managers who reap outsized profits, not the clients. Both large and small investors should stick with low-cost index funds.”Shen says it was primarily her background — she grew up in poverty in China — that motivated her to value money and savings so much. “My mom taught me that money is really valuable and not to be wasted,” she says.
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