This couple retired at 40 and moved their family to Portugal. Here’s how they did it
Both Browning’s worked full-time government jobs earning less than $100,000 per annum. Amon suggested that they retire early, so they looked for other sources of income to supplement their salaries.
How It Began
The idea came when Amon received an award at work in 2011 for 10 years in services. An older man was honoured for 40 years in services at the same event. Amon knew he didn’t want to find himself in the same spot in three decades.
The couple talked it through and decided to pursue financial independence and retire early. They soon put all their effort into cutting costs and saving for an expeditious exit from the workforce.
Working On Weekends
To make retiring early possible while living in one of the most expensive parts of America, they live frugally while raising two kids, drove for services like Uber, and sold personal and home items.
Investing in what they were earning was pivotal to reaching their goals.
“We put our money back in the stock market, back into real estate, so that we could get that compound effect. That’s how you get to your financial independence.”
Moving Across The Globe
The couple has lived in Japan and Spain but settled in Portugal primarily because of the country’s nature and friendly people. The Borrowings estimate they live comfortably on less than $2,000 per month in Portugal. They also reported that their house and car are completely paid off. However, they do pay for property tax, insurance, and basic bills.
Now, they spend their weekends at the beach or in their garden, where they grow some of the food they eat. They also like to hike, paddleboard, camp, and surf with their daughters on the weekends. They’ve never been happier.
On Being Retired
“Being retired has given us that opportunity to do all these things we have never had the time to do while we were working.”
Amon, who grew up in poverty, never imagined he would reach this milestone. But he credits his father with instilling a positive attitude in him, even when the family was homeless or didn’t have enough to eat. He wants his daughters to see that a different type of life from the norm is possible.
“We made some intentional short-term sacrifices so that we could have a lifetime of freedom.
-Amon Borrowing, In an interview with CNBC make it
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