We Retired Early! Here Is How We Did It!

About this video

• Video Title: We Retired Early! Here Is How We Did It!
• Channel: Melanie Gilbert
• Speakers: Melanie Gilbert
• Duration: 00:10:25

Overview

This video explains the ten key strategies Melanie Gilbert and her husband used to achieve early retirement. The speaker emphasizes that it wasn't due to luck or a high income, but rather a conscious adoption of a minimalist mindset and intentional financial choices over 15 years.

Key takeaways

• No Lottery or Inheritance: Early retirement was achieved through diligent saving and investing, not windfalls.
• Financial Education is Key: Learning about money, investing, and how to make money work for them was a crucial first step.
• Decision to Save: Saving was treated as a non-negotiable decision, not just a goal, with accountability.
• Minimalist Mindset: Intentionality in all aspects of life, including mindful spending, significantly impacted their ability to save.
• Avoided Lifestyle Inflation: They consciously chose not to upgrade vehicles or homes frequently, opting to stay in their "forever home" and keep older cars to save money.
• Ignored Societal Pressure: They stopped caring about what others thought regarding their financial decisions and possessions.
• Skipped Chasing Trends: Resisted the urge to constantly buy the latest gadgets or follow fads, both for themselves and their children.
• Savings as a Non-Negotiable Bill: Monthly savings were prioritized and treated as a mandatory expense.
• Simple Living Philosophy: Embraced a philosophy of keeping costs low and wants few, leading to a calmer lifestyle.
• Invest Early and Consistently: Understood the power of compounding interest and started investing early, even small amounts, making a significant difference over time.