Since his divorce, Joe Olson has been asking himself the same question he found himself with just after he retired early: Will I have to go back to work? Watch his FIRE journey here:
Since his divorce, Joe Olson has been asking himself the same question he found himself with just after he retired early: Will I have to go back to work?
Read: How this 38-year-old emerged from ‘deep poverty’ to achieve FIRE in his 30s as a multimillionaire landlord As they bought property, the cash column would grow faster as new rental income came into the mix. Where it once took six months to buy a house, they would eventually be able to buy every couple of months. At first, they managed the properties themselves, hiring out for repairs as needed.Using the spreadsheet, Olson said he made a projection 10 years into the future and saw rental income of $9,000 a month.
In 2015, Olson said they weren’t sure they were financially ready to retire, but decided to go for it anyway. His high expenses are partly the result of the couple’s separation in 2020, which left him and Ali managing two households and Joe paying back refinanced mortgage debt to cover the costs he owed her. Aside from those costs and business expenses, Olson lives on around $5,900 a month, which includes his contributions to charity.
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