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This is how this couple managed to retire after only 8 years of work

Joe and Ali_Prague, Czech Republic
Joe and Ali Olson

Joe and Ali Olson spend their time traveling around the world with their one-year-old daughter Annabelle.

When they were both around 30, they were able to quit their teaching positions in August 2015 and retire after only eight years of work.

How do you manage to retire so early as a teacher? The key: Minimize the cost of living and find a good part-time job.

The Olsons met in 2004 when they were both still students. They got married during the winter holidays of their last year of study. After graduation, they moved to Las Vegas, where Joe had taken a job at Teach For America. Ali started as a substitute teacher and after a while got a permanent job at TFA. She taught English in a high school.

“Fortunately, the cost of living in Las Vegas is very low – but teacher salaries are also very low,” Ali told Mad Fientist in a series of his “Financial Independence Podcast”.

So they took on any part-time jobs they could get – vacation school teachers, club management, tutoring – to add to their salary. “It matters a lot because if you earn $ 35,000 (33,000 euros) as a teacher and another $ 3,500 (3,300 euros) as a teacher in the holiday school, you think, ‘Wow, that increases my salary by 10 percent,” “explains Joe.

In a few years they could even increase their salary by 50 percent through part-time jobs.

Eventually they realized that they could achieve financial independence and that their dreams could come true whenever they wanted. They continued to live frugally, saving 75 percent of their income, and bought their first Vegas apartment to rent in 2008.

Over the next few years, the couple bought 14 more properties. Even though they made losses during the financial crisis, their wealth gradually grew to over $ 1 million.

Now they are completely financially independent, travel around the world with their daughter and occasionally share their adventures on their blog “Adventuring Along”. Read on to find out how they did it.

This is how this couple managed to retire after only 8 years of work

This article was published by NewsABC.net in December 2020. It has now been checked and updated again.

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