Here's How This UK Woman Retired At 35, With Almost 10 Crore In Savings

This UK Woman Retired At 35 With 10 Crore! Katie Donegan, now 37, retired at the age of 35 with nearly 10 million pounds (10 crore) in savings, with her husband. She did it by saving intensely and cutting down on expenses. She now teaches a 10-week course on how to get in control of one’s finances.

Donegan said she used to save her pocket money and rather than spending it, she used to enjoy watching it grow. She and her husband had enough to live comfortably, but little for fancy night outs and dinners at extravagant restaurants.

Donegan met her husband, Alan, in 2005, during a volunteering project in Costa Rica. They returned to the UK as a couple, and she began a degree in statics, from the University College London. She said she lived with her parents, ate cheap and did not spend much on clothes, as she “hated the thought of getting into debt”.

She graduated in 2008 and they moved in with Alan’s mother in Hampshire to save up on a house deposit. She worked as an actuary earning 28,500 pounds in a year. Her husband, Alan was self-employed, teaching businesses how to do presentations.

She also added on how they saved on meals, used a second – hand car, invited people over instead of going out etc. after saving hard, they finally had enough for a two-bedroom flat in Basingstoke, in November 2010.

The two got married in July of 2013, and they kept their wedding costs as low as possible, saving up at every opportunity. They put away 3000 pounds together, every month. By the end of 2014, Katie was earning 58,000 pounds a year.

In 2015, Katie said she came across FIRE – Financial Independence, Retire Early movement. It suggests keeping expenditure low and saving as much as you can. The couple even studied and researched the stock market to increase their chances of making money.

Between March and April 2019, they hit their target of 1 million pounds, after which Katie decided to retire. Alan still works partially, managing his business that is not involved in day-to-day operations.

She added how friends and family thought they were mad for sticking with their meagre expenses and modest house and car. By September of 2018, they had 898,000 pounds in savings and investments. The couple now live a nomadic lifestyle, travelling everywhere from Thailand to Mexico, cycling, hiking and keeping fit.

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