This couple retired in their 30s—here's why they keep $80,000 in their savings account (via CNBCMakeIt)
Under this rule, the amount they can spend may fluctuate year to year but has gradually increased over time as their investments have grown.
"If we're having a good year and we're making money, we can be a little bit more flexible with our lifestyle," Courtney explains. "And then if we're in a down market, we will really cut back and get our [annual] budget more in the $30,000 to $40,000 range instead of up near $50,000."The Adcocks add any money they earn from freelance work to their savings, but the bulk of the account comes from selling off their investments.
"Once the market rebounds and we start making money again, we will pull money out and will replenish that savings account to get back to our to two year minimum savings," Courtney says. Even though it's a large amount of money that could be working for them if it were tucked away in investments, Steve and Courtney enjoy the peace of mind that comes with knowing their needs will be taken care of should the markets run into trouble.. The Adcocks stuck to their savings and didn't sell any investments — even when their net worth was down almost $200,000 in March 2020 — and are now in a better position than when the pandemic started.
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