This is a very interesting interview that describes how one young couple decided to take charge of their finances, pay off their debts, and accumulate a nest egg to fund an early retirement.
When Jeremy graduated from college, he started working for Motorola and earned $40,000 a year. But his desire to keep up with his friends, family, and co-workers led him to buy a new car and a three-bedroom home. He was quickly in debt, but fortunately he realized he wanted to live debt free.
Using an interview format, this article describes the steps Jeremy (38) and Winnie (33) took to save enough money to retire while they were in their 30s. It also describes their current lifestyle and how they spend their money and time since they retired.
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You may want to use the information in this blog post and the original article to
- Explore why people often feel the need to keep up with friends, family, and co-workers.
- Discuss the specific steps that Jeremy and Winnie took to take control of their finances.
- What steps did Jeremy and Winnie take to get out of debt? Would you be willing to take these steps in order to live debt free?
- Once Jeremy and Winnie were debt free, what techniques did they use to save and invest their money?
- Jeremy and Winnie retired in their 30s. Does the idea of retiring in your 30s or 40s, or 50s appeal to you? Explain your answer.