What do a 30-year-old accounting clerk from Oregon and a 37-year-old school consultant from Minnesota have in common? They’re both on track to retire early, possibly by 55.
When Erynn Ross moved back home to Oregon after graduating from college, he knew he’d save money by living with his mom. What he didn’t expect was that she would tell him he could pay her rent—or pay into an index fund.
“That really started the saving train,” Ross says. He began investing, contributing to a 401(k), and paid off debt. By the time he was 27, he was saving the maximum amount allowed in his 401(k). And that makes him a “super saver.”1
Ross says he wasn’t always so eager to save, but his mom wanted to instill good habits when he was in high school. “She’d already set up an IRA for me. We came to a compromise that 75% of my paycheck went toward retirement,” Ross says. “As a teenager, I wasn’t too happy about it.” (He’s thankful now.)
Bekah DeJarlais from Rockford,…
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Source : fastcompany.com
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