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Updated December 14th, 2019 at 00:07 IST

Man retires early after banning wife from Starbucks and profiting from wedding

27-year-old man retired at the age of 24 after working for just seven years, banning his wife from Starbucks and making a profit from their wedding in Canada

Reported by: Digital Desk
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27-year-old man retired at the age of 24 after working for just seven years, banning his wife from Starbucks, and making a profit from their wedding in Ontario, Canada. Mike Rosehart, a former IT business analyst, has managed to save $760,000 (Rs 5.38 crore) for his future. Early Retirement Extreme inspired him for early retirement.

The venue of the video was free

Rosehart grew up poor with a single mother and didn’t have family money to rely on. During his college days, he got a scholarship and he worked during his university years. At the age of 19, he bought a cottage with his now-wife Alyse. Even there, he rented every room to make money from it. While working as a consultant, he earned $42,000 (Rs 29 lakh) annually and his wife earned $26,500 (Rs 18 lakh) annually as a graphic designer. 

Mike had a hard time persuading his wife to go along with his retirement plan. While speaking to international media, he said that he wouldn’t call his wife a crazy spender but she likes her Starbucks. He also added that she wanted to have kids young so he explained to her that early retirement is the way for them to be there for their kids. He also recalled an incident wherein he told her that every time they bought Starbucks, it cost them two more days away from their children. He went to his honeymoon in Brazil on credits and lived their free with a friend.

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Revealing his secret to profiting from their wedding, he said that people usually give a gift when they come to a wedding. So if we think in a different way they actually made a profit.

The dad of two said that in early 2010 he came across a book, Early Retirement Extreme. It was about becoming financially independent on a median salary by Danish astrophysicist Jacob Lund Fisker and that is how he hit about the idea of retiring early. He is convinced that anyone can achieve financial independence and retire early with a little financial wizardry.

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(With inputs from Agencies)

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Published December 13th, 2019 at 20:19 IST

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