ORLANDO, Fla. – In the early morning hours, the rhythmic pitter-patter of pickleballs fills the air in Avalon Park. Amidst the dedicated players squeezing in a few games before a hectic workday, one man stands out—not for his athletic prowess, but for his remarkable life choices.
Khai Tran, who started “The Breakfast Club,” isn’t rushing off to work like the others. Instead, he enjoys his mornings, leisurely playing pickleball, chatting with friends and embracing the freedom that comes with early retirement. At 52, Tran is a retired Walgreens pharmacist who achieved financial freedom at the age of 47, not through a big inheritance or lottery win, but through diligent saving and smart investing.
The Journey to Financial Freedom
Tran’s journey to early retirement began in his early 20s. Determined to secure his future, he saved and invested between 25% and 33% of his income. The secret to retiring early is starting early. Tran said the three keys are to spend less than you make, use low-cost ETFs to invest and automate your savings so you don’t have to think about it.
Tran’s wife was also a pharmacist and she saved as well. Now, they’re both retired with the kids out of the house.
Exchange Traded Funds (ETFs), which track broad stock markets, played a crucial role in Tran’s investment strategy. Unlike traditional wealth managers who charge higher fees, ETFs offer a cost-effective way to grow wealth. Tran’s disciplined approach to investing, paired with his commitment to saving, allowed him to build a substantial nest egg, enabling him to retire in his 40s.
The Joy of Early Retirement
For Tran, early retirement isn’t just about financial independence; it’s about living life on his own terms.
“Pickleball is a lot like investing,” he said. “You know what you’re supposed to do, but you don’t want to do it. Just executing the plan is the hard part.”
Tran’s recipe for those aspiring to retire early is simple yet profound: find something you love and do it with people you like. Whether it’s playing pickleball, traveling or pursuing a passion project, the key to a fulfilling retirement is to stay active and engaged.
“I envy him,” admitted Sue Rosh, a fellow pickleball player. “I tell him that every time I see him. I can’t wait to retire, but unfortunately, I’m not there yet.”
Lessons from a Wealth Manager
Brandon Ronco, a seasoned wealth manager at Ameriprise Financial, underscores the rarity and significance of Khai’s achievement.
“It is very rare for someone to retire so young,” Brandon said. “Most 23-year-olds don’t plan ahead. I talk to clients about envisioning not just putting money into an account, but paying your future self. I’ve never had a client look back and say, ‘I wish I hadn’t saved that money.’”
Ronco suggests you find an advisor who will invest your money in a way that aligns with your goals. Ronco said he’s meeting with many more clients aiming for early financial freedom.
“I think the old adage of retiring at 65 or 70 and being passive is kind of going away,” he said.
However, Tran invested his own money by researching ETFs and automating his decisions.
Start Saving Today
Tran’s story is a testament to the power of early saving and smart investing. It’s a reminder that with discipline, determination, and a little bit of sacrifice, early retirement is achievable. Start today by setting clear financial goals, automating your savings, and making informed investment decisions. Your future self will thank you.
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