This week I did a guest post on one of the most popular military financial independence websites. This website (www.the-military-guide.com) was started by Doug Nordman. He retired from the Navy in 2002 and hasn’t worked since. He currently lives in Hawaii and surfs often when he’s not traveling the world.
Not a bad life.
What he did is what I’m writing about. Working 20 years (or less), and then retiring, never needing to work again!
Here we go…
BLUF: In college I paid off $32k in student loans in a year. On a military salary I paid off a $280k mortgage in seven years. I’ve bought several rental properties with cash. I did this through paying off debt, having a high savings rate, and investing well.
My name is Rich. I’m an Air Force Lt Col of 16 years. I’m married with 2 young kids.
Here is my message:
Don’t work until you’re 65. Not even 55. You can save enough money to retire in 20 years or less. I mean after 20 years of work, NEVER WORK AGAIN (unless you want to). This method doesn’t depend on a military retirement, that’s just a bonus!
I currently make enough money from my investments to live on. I could quit working today, but I’m less than four years from a generous military retirement.