99. Retired by 40: What he'd do differently
Shownotes
How do you retire before 40 when you didn't start investing until 28, panicked after your first investment fell 10%, and lost money on property along the way? And what happens when you finally have enough money to stop working, but can't quite bring yourself to leave a well-paid job?
Dave and Hayden chat with Perth listener Peter, who achieved financial independence before 40 after a winding journey through saving, property and individual shares. He shares the mistakes, lucky breaks and changes in mindset that helped him get there, along with what he'd do differently if he started again.
In this episode we'll discuss:
🧠 How growing up in a family of six on one income shaped Peter's scarcity mindset, making him an excellent saver but a reluctant investor.
📉 Why losing around 10% on an early investment led Peter to panic and sell, despite already understanding how investing worked.
🏠 What Peter learned from cashflow-negative investment properties, difficult tenants and selling at a loss, and why he's now sceptical about tying up too much wealth in a home.
🏦 Why Peter saw an opportunity in Australian bank shares during COVID, when the broader market had fallen substantially but bank shares had fallen even further.
🎲 How early investing wins encouraged Peter to chase returns of 20% to 30%, and why he now recognises that luck played a part in his success.
📊 Why Peter says he'd choose ETFs from day one if he could start again, despite making much of his money through individual shares.
🚗 How Peter weighed expensive cars, overseas holidays and housing against the opportunity cost of investing, and why he sees a difference between being frugal and simply refusing to spend money.
💼 How Peter achieved financial independence before 40 despite earning less than six figures until the final three years of his career.
🔓 Why reaching his financial target wasn't enough to make Peter quit working, and how an unexpected redundancy finally helped him escape the golden handcuffs.
🌴 What life looks like after early retirement, from writing a book and exploring new interests to discovering that having complete control over your time doesn't necessarily mean being less busy.
Peter's journey is a reminder that reaching financial independence rarely follows a perfect plan. From learning to live with investment risk to recognising when enough really is enough, his biggest lessons weren't just about growing wealth. They were about changing his relationship with money and figuring out what he wanted that money to make possible.
Questions, disagreements or your own scenario: [email protected] or reach out on socials at Strong Money Australia and Pearler.
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Disclaimer:
Any advice is general and does not consider your financial situation needs, or objectives, so consider whether it's appropriate for you. You should also consider seeking professional advice before making any financial decision.
Pearler is an Authorised Representative 1281540 of Sanlam Private Wealth Pty Ltd AFSL 337927. Read the FSG available from https://pearler.com/financial-services-guide
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