- Kiersten and Julien Saunders retired at age 40.
- Now, they are teaching the black community how to do the same.
- His 15-year plan lays out how to “came out” of a cycle of burnout and live by his values.
Because Kiersten and Julien Saunders met in 2012 while working for the same company, work had always been a “third wheel” in their relationship.
After getting married, they even delayed their honeymoon to make room for their business travel plans. When they finally took that honeymoon, they were still compulsively checking their work emails on their phones. Seeing how their corporate jobs were affecting their relationship, the Saunders decided they needed a drastic change.
In his new book, “Withdraw Money: Winning the Game of Wealth by Walking Away”, the Saunders write that one of the reasons they wanted to retire early in the first place is to ensure a long, happy and healthy marriage.
They write, “Building wealth was also a means of protecting our marriage by insulating it from the leading cause of divorce (money) and giving us ample opportunities to nurture our love without distractions.”
Here’s their 15-year plan to quit their corporate jobs for good, which they shared in a book chapter titled “The Fifteen-Year Career.”
Years 1-5: Pay off debt
The first five years on the road to financial independence are all about building discipline and a solid financial foundation, they write. The Saunders used the snowball and avalanche debt payment methods to pay off more than $200,000 of debt between 2013 and 2018, according to records reviewed by Insider.
“We were obsessed with paying down debt and building wealth, and had completely immersed ourselves in the personal finance community that was churning through books, podcastdocumentaries, articles and blogs”, they write. They continued to modestly celebrate milestones along the way to help them maintain a minimal lifestyle to pay off debt.
The Saunders also used this time to redefine their idea of wealth, moving from a mentality of excess and ostentation to simply enjoying what they already have. “Most of the wealthy people we know live remarkably predictable lives,” the couple add.
Years 6-10: Create streams of income outside of your 9-5 hours
At first, when the Saunders were thinking about how they would increase their income, they fantasized about higher pay ranges in other corporate jobs. After paying off $200,000 in debt, the lure of earning an extra $30,000 a year at a job that could add more stress to their lives just wasn’t that strong.
Instead, the couple spent years building passive income streams. They maximized their retirement account contributions. They invested in properties to rent. They shot their Financial Advisor Y began independently managing its own investmentsputting most of your money into index funds.
Eventually, the Saunders realized that they were passionate about sharing financial freedom tools with the black community. They began hosting events, traveling the country to meet more people, and writing blog posts. Soon, they began to generate a modest income from their creative activities.
Years 11-15: Separating from your full-time job
At this point, the Saunders say that habits like maximizing your 401(k), GONNAY HSA contributions It should feel like “muscle memory.” Cultivating these habits will completely change your relationship with work, they write. You may even find that you have favorite ways to earn money that are much more enjoyable than what you’re doing full time.
Without a clear vision of what you really want to do with your time and energy after you retire early, it’s hard to know when to walk away. You can ask, Is there a specific number that I must have on my retirement account? But the Saunders say there is no right or wrong answer.
They write, “In our case, we left a job after owning two cash-flow positive rental properties, having paid off a mortgage, and living for years on half our household income.”
They add: “Your title will not be on your tombstone. In your later years, you will need to begin the process of disassociating who you are from what you do.”