Katie Donegan, 37, a UK citizen, recently shared how she retired at the age of 35 with nearly £1 million (over Rs 10 crore) in savings and investments.
Katie said that she has always been frugal with her money. For instance, unlike other youngsters, Katie used to save her pocket money rather than spend it. But her saving journey took shape when she decided to drop out of Oxford University at the age of 18 and took a trip to Costa Rica. On her trip abroad, Katie met Alan.
They both returned to the UK as a couple. Katie then began pursuing statistics at University College London. And, to save money, Katie lived with her parents. Katie graduated in 2008, and intended to save for a house deposit, they both moved in with Alan’s mum in Hampshire.
In the beginning, Alan was self-employed on a variable income and Katie worked as an actuary, earning £28,500 a year, which is 28,81,800.
They both married in July 2013 and tried to kept the costs as low as possible. After several promotions, by late 2014, she was earning £58,000, but despite the increment, Katie was focused to keep her expenses low.
Katie mentioned that they both intensely researched and studied the stock market to increase their chances of making money.
The couple was inspired by a movement called Financial Independence, Retire Early (FIRE), which suggests keeping your extra expenses low and try to save every penny.
Alan speaking to The Sun said that he has been saving since 1996 and Katie began contributing after she graduated.
Speaking about her investments, Katie revealed that their investments now generate £65,000 a year, which is 6,569,900 rupees. They both now can afford to split their time between Basingstoke, England, and abroad.
Alan is currently not engaged in any day-to-day operation. He has yet to fully retire and still oversees his business sometimes. Meanwhile, Katie now runs Rebel Finance School. It is a free online 10-week course to help others to get control and manage their finances effectively.