Exploring the Hidden Aspects of Wealth Building

This week we have the financial journey of a high-earning executive in the Bay Area as he pursued the goal of Financial Independence, Retire Early (FIRE) starting nearly 30 years. The couple’s strategy centered on investing in his career, diligently saving as much as possible and paying themselves first, and investing for the long term primarily in individual growth stocks. This disciplined approach enabled them to build a substantial net worth, retire early at age 52, relocate from the high-cost Bay Area to the Midwest, and transition to a phase focused on enjoying life, travel, volunteering, and managing their wealth.

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In their 50s:

$24,000,000 net worth - In his first interview (2017), he was a senior executive at a publicly traded technology company living in the Bay Area with a net worth of $12.2 million (age 51). He officially retired at age 52 in 2018. They relocating from the Bay Area back to the Midwest where they built a custom "dream" home near a country club complex. The total cost of the house, including the land bought for $500,000, ended up being $5 million. As of 2025, their net worth has doubled over seven years to $24 million. The composition of their current net worth is Retirement Accounts/IRA (65%), Home Equity (17%), Taxable Accounts (8%), and Roth IRA (5%). He maintains a cash reserve in his IRA to fund his 72T withdrawals.

Net Worth Progression:

$12.2 million (2017) —> $19.2 million (2020) —> $24 million (2025)

Life in retirement has been busy as he sits on several boards, earning about $100,000 a year in director's fees from public companies and equity grants from startups. This income helps cover healthcare costs and some golf expenses. His primary income stream is a $238,000 annual withdrawal via a 72T election from his IRA, plus about $70,000 in dividends and $100,000 from taxable accounts. His annual spending is around $245,000, with significant expenses for the mortgage, utilities, cars, and notably, $90,000 for vacation travel and country club activities.

A major part of their retirement lifestyle is golf. He and his wife play nearly 300 rounds of golf between them annually (he plays ~170 or more rounds of golf a year). His game has improved since retiring, partly due to having two new knees. They have successfully built a social network in their new location through activities like golf groups, wine clubs, and volunteering.

Take-aways:

Embrace the Fundamental Process: Earn, Save, and Invest. He states this is the path to financial independence, achievable for most people. He highlights the importance of earning a sufficient income (often by investing in yourself/career), spending less than you make to build savings, and then investing those savings consistently over time.

Prioritize "Paying Yourself First" Early and Consistently. This principle, where you save a portion of your income before covering expenses, is called the "secret" to his success. He stresses the power of saving "as much as you can as early as you can" because "compounding is your friend" and time is the critical variable.

Invest in Your Earning Potential through Career Growth. He significantly grew his income by focusing on his career. He advises others to "Invest in yourself" by learning their industry, seeking challenging assignments, developing leadership skills, and networking. Increasing your income directly increases your capacity to save and invest.

What is the meaning behind Ten Wilsons?

The $100,000 bill is the highest denomination ever issued by the U.S. Federal Government. Woodrow Wilson is the president on the $100,000 bill.

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