They've managed to do all that while never making more than about $200,000 combined in yearly income from work.
"We got our first house young, but we didn't buy all new furniture; we furnished it with hand-me-downs and thrift store finds," Wallace said.
Between their three homes, which total $1.9 million in value, they have about $850,000 in equity, and they don't plan on paying them off early as interest rates on them are below 3.5%.
Becoming millionairesThey hit their first half-million in 2021 and became millionaires in 2022, bringing their net worth above $1.2 million this year.
They both plan on retiring in four years but anticipate working in part-time roles that better align with their passions.
Persons:
Andrea Wallace, They've, Wallace, we've, Roth IRAs, they've, they're
Organizations:
Service, Business, FI, FIRE, Hallmark, Arizona State University, Lean FIRE
Locations:
Phoenix, California