So Money - Episode 213

Jeremy Jacobson and Winnie Tseng

Millionaires Next Door

Welcome back to So Money. I’m your host Farnoosh Torabi. Thanks for joining me. Doing something special this week. If you’ve been listening since Monday, you know it is Millionaire’s Next Door week. Dedicating the week to people across the country, in some cases across the globe, who are millionaires and you wouldn’t really know it. They’re frugal, they save their money wisely, they don’t buy material things necessarily, they have sacred financial philosophies and we’re gonna learn all about it this week.

So excited to introduce today’s couple, we have a couple on So Money today. Jeremy Jacobson and Winnie Tseng. They run the personal finance blog They are two normal people from lower income families, chasing the American dream, until they realized, you know what? The chase wasn’t making them so happy.

They sold their house, they sold their car, and started saving 70%, or more than 70% of their combined income. And in a short 10 years, while still in their 30’s, they became financially independent and said “buh-bye” to the working world to then start a family and travel the world. Three years now into a hopefully 60 plus year journey, they’re living their own nomadic dream with their newborn son, Julian. The two have now multiple millions of dollars, they keep that money pretty much invested in index funds, they tell me. And they’re living off about $4,000 a month and they are soon about to embark on their world wide journey. First stop, Mexico! Lots to learn from this couple, our millionaires next door.

Some takeaways from our conversation with Jeremy and Winnie:

  • How they saved 70% of their income to retire in their 30’s and pursue their love of travel and starting a family.
  • How going over seas helped them save dramatically on medical costs, especially when it came time to having the baby.
  • And how they pay $0, zero dollars in taxes! I took some notes during that part, let me tell you. And they do this legally, all of this information they capture on their blog, Interesting story about and why it’s called that.

If you would like to learn more about Jeremy Jacobson and Winnie Tseng, visit their website or follow them on Twitter @gocurrycracker.

One of my favorite quotes from our interview: “Twice as much money won’t make you twice as much happy.” – Click to Tweet

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