This Millennial Saved Nearly $150,000 For Retirement Before Turning 27

Less than a year ago, Sean logged onto his various investment accounts. After years of saving his money in CDs, retirement accounts and funds, there was nothing different about this time except that when he tallied the numbers, the millennial realized that he had over $100,000.

At the time, he thought, “Holy cow.”

Begin Early

Little girl sitting at a table and holding piggybank isolated on white background

Inspired by his grandfather who, despite never making six figures, retired with over $1 million, Sean began saving early. Growing up in Texas, he scored his first job as a ditch digger when he was 16 years old. The work was hard and the heat was brutal, but he earned $10 an hour, which at the time was a good wage for an unskilled worker.

Park Your Money Somewhere and Let It Grow


After learning about compound interest in his 8 th grade math class, Sean had one goal: save enough money so that he could put it into a C.D.  When he had $500 saved, he shopped around until he found a bank that offered a 5 percent interest rate. He was sold.

He remembers thinking that he was basically getting paid to do nothing, which, as he says, “is the whole allure behind investments.”

Get Creative With A Side Hustle


In addition to his construction job during the summertime, Sean wanted to earn money while he was in college. Enter: his quirky side hustle.

As a sophomore, Sean was browsing one of his favorite websites when he realized they were selling softball bats for dirt cheap prices. A softball fanatic, he could recognize a good deal. He bought $1,000 of bats and flipped them.

He did this for a year, estimating he made around $5,000. The one drawback? He always had at least ten to 20 baseball bats in his dorm room closet.

Make Fixed Costs As Low As Possible


When you start earning more money, there can be a temptation to inflate your lifestyle, opting for a more expensive pad or a fancy gym membership. But, by Sean’s estimations, if he kept his fixed costs low, he could then splurge on the things that were important to him, like vacations or dinner dates.

By staying in a lower priced apartment, Sean was able to have “a lot of breathing room on the small stuff.”

“A lot of people do it backwards from the get-go,” says Sean. “They buy the most expensive apartment that they can afford to rent each month, they buy the nicest car on the new car lot. Consequently, they have to stress about saving every little thing.”

Instead of Spending $100 On Jeans, Check Out Outlets And Thrift Stores


Sean admits he is well-dressed lad. His secret? Thrift stores and outlets. They offer the same quality of clothes at much better price points.

Keep Purchases In Check


Although he doesn’t subscribe to spending bans, Sean admits he has very little in the way of material goods. Instead of plunking down hundreds for the newest set of speakers, he has one rule:

“Ask yourself before you purchase anything, is this something that will improve my life? The vast majority of things that are being sold, the answer to that is no.”

Meal Plan Like A Boss, But Don’t Be Afraid To Eat Out

Young people eating in a Thai restaurant, they eating with chopsticks

As a self proclaimed foodie, Sean says that eating out is one of his vices. However, the millennial makes sure to go for quality over quantity when it comes to fine dining.

“You can go out to lunch everyday and spend $8.00 on mediocre food or you can not go out to lunch all week and then go to one really nice restaurant at the end of the week,” explains Sean. His advice? Make sure you are spending money on something that actually matters and that it is not just a habit.