12 People Who Retired Young (and How They Did It)

© Courtesy of Amy and Tim Rutherford

Amy and Tim Rutherford

To retire early, Amy and Tim Rutherford changed their big-spending ways. “We used to be high spenders and cut $6,500 a month out of our budget,” Amy said. One of the biggest expenses they slashed was housing, by downsizing from a 6,000-square-foot home to a less-than-2,000-square-foot townhouse. See why downsizing can make sense from a financial standpoint.

The couple also saved all of Amy’s income and a portion of Tim’s, which helped them build a big enough nest egg to retire early.

Amy retired from a sales position at 46, and Tim left his job selling telecommunications equipment at age 48. Now, they spend a lot of their time traveling and sharing frugal travel tips on their blog, GoWithLess.