How this 41-year-old teacher can afford to retire early

Leigh (0:00)

When I went on maternity leave, I got really serious about our finances. What would have done us a great deal of benefit is doing that when we had the money. I feel like I was saving, saving, saving all through my 20s, but really didn't have anything to show for it at the end of the day. Well, actually, I haven't announced it to my community yet.

Jess (0:24)

This episode is sponsored by Ubank, Money Done Better.

Welcome back to Get Started Investing, a show that helps you make most of your money. This is How I Got Started. It's a series where I sit down with a community member to hear the highs and lows of their journey to investing. These are real stories and we hope they're going to give you the confidence that investing is for anyone. Today, we are joined by Leigh. She's a 41-year-old teacher from Brisbane who started her investing journey after reading the Barefoot Investor on Maternity Leave. As someone who grew up in a frugal household, she got absolutely hooked on the idea of financial independence. Ten years later, her mortgage has paid off. Her family has reached coast fire, which means if she stopped investing now, she would actually have enough for retirement and she's also in a financial position to take the whole of next year off work while she figures out what she wants to do next. Leigh's story is proof that you do not have to be earning millions to build financial freedom. This is how Leigh got started. Leigh, welcome to Get Started Investing.

Leigh (1:16)

Thank you.

Jess (1:17)

Very excited to be speaking to you today. I think it would be great if we could start with you painting a little bit of a picture of what life looks like for Leigh today.

Leigh (1:26)

Well, I'm in my early 40s. It doesn't feel like it. I've got two boys, seven and 10

Jess (1:33)

And four.

Leigh (1:34)

Yeah. Keep us busy. We're currently living in Brisbane and I'm a school teacher.

I work part-time because life is hectic and I teach year one, a year one, two composite actually this year and pretty simple life really.

Jess (1:52)

Love it. Now, the series is called How I Got Started. Obviously, I want to know how you got started, but I'd love to understand why you got started. Like what are you investing for?

Leigh (2:03)

We are investing for financial independence to have some financial security, I suppose, was step one, and to give our lives a little bit of flexibility, also some life enjoyment at the end of the day.

Jess (2:18)

What is financial independence? What does that mean?

Leigh (2:21)

Financial independence is having enough money that you can live off your investments. The more you spend each month, the more investments you need.

We're trying to find that happy medium because the more we spend, the more we'll need invested.

Jess (2:38)

Okay, so you kind of work out what you spend and then what investments you need to be able to allow you to spend that much without having to work.

Leigh (2:46)

Yes, so that the investments cover our living expenses. Yeah, yeah, yeah.

Jess (2:50)

Oh, god, that's the dream, Leigh.

Leigh (2:53)

I know, it's a dream and hopefully it's a reality one time soon, in the next five to ten years maybe.

Jess (2:59)

Wow. Well, I'm really looking forward to hearing how that's all going to become a reality, but let's go all the way back to, I guess, young Leigh. What was money like growing up for you?

Leigh (3:09)

I think money was a bit of a stressor. Single income family, which was common, but there was always seemed to be not enough money. Groceries, searching for specials, which I think has done me well.

Some of the things, but I do think that money was stressful.

Jess (3:28)

Do you think you felt that as a child?

Leigh (3:30)

I definitely felt that reflecting back.

I can see why, and some of the things I've taken with me. And I think it's helped, maybe sometimes to the extremes.

Jess (3:42)

It's interesting, having worked with a money coach, I didn't realise that most of how you view money happens subconsciously before the age of seven. I was like, wow, as a child, you're picking up things without realising.

Leigh (3:54)

Yes, I know. So I try to be really careful with what I'm saying to my boys.

Jess (3:58)

You've got two young boys.

Leigh (4:00)

Yes, and trying to have those conversations around money and making sure they're positive.

Jess (4:05)

So you've grown up in a frugal household. You get your first job at, how old were you when you got your first job?