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In 1991 Billy and Akaisha Kaderli retired at the age of 38. Now, into their 4th decade of this financially independent lifestyle, they invite you to take advantage of their wisdom and experience.

Can Millennials Become Financially Independent?

Billy and Akaisha Kaderli

Millennials, those born roughly between 1980 and the year 2000, face a different future than Baby Boomers did at their same age. In terms of wealth building and saving for retirement their challenges are wage stagnation, unemployment, underemployment and a seeming sense of entitlement. Because they came of age during the Great Recession, their faith in brokerage firms, Wall Street and global banks has been bruised.

Being optimists, we believe that the financial future of this generation can still be bright, but with loads of student debt and lack of investment understanding they need to get started learning about finances and money management now.





Time is on your side and is your greatest asset

One thing Millennials have today that Boomers don’t is great stretches of time before retirement. It is their greatest resource and this fact needs to be made clear to them. Time cannot be replaced, and if you are a Millennial, then knowing about the power of compounding will change your financial life. $10,000 – the cost of a used car – invested today in the S&P 500 Index and based on market historical returns, from 1950 to March 2023 could grow to $1,000,000 or more throughout your career, thus building a solid foundation for your retirement needs. This return is without adding another dollar to your investment.

S&P Market Return Chart

If you do nothing else for your retirement, scrape and scrap to make this investment into SPY (S&P 500 Index ETF) or VTI (Vanguard Total Stock Market ETF) and you will be handsomely rewarded since you have this time on your side.

Just get started

A new investor with limited funds can utilize an online, no-frills brokerage account and depending on which brokerage you pick, you can open an account with less than $1,000. Not every house requires initial investments of more than $2,500, and as of this writing, Fidelity is offering a no minimum to opening an account.

Just get started and dollar cost average into your account making monthly deposits into your investments no matter rain or shine. Persistence will pay off here and pay yourself first, before any other bills.

The Adventurer's Guide to Early Retirement, 5th Edition
A New Perspective

Sign up for your 401k as soon as you can

Another place to set aside money is with an Employer-matched 401k. Take advantage of this because if your company matches or contributes to your account it is like receiving free money, and it’s unwise to leave it on the table. If you can save a minimum of 10 percent of your pre-tax paycheck and begin this right away, you will never notice the difference in your take home pay. Remember, pay yourself first!

Make it easy on yourself and automate these savings through payroll deductions. This way you won’t have to remember to take the money out, be tempted to forgo a payment to yourself and spending it elsewhere.





Pay down your debt

Nothing can derail your financial future more than maintaining debt. Pay it down or eliminate it. If you have high-interest credit card debt, reduce this first, then you can refinance your student loans and prioritize your debt payments. Get yourself on a savings plan alongside paying down your bills. Remember? Who are you going to pay first?

Track your spending

In order to pay down your debt and save for your future, you must know where your money is going. Tracking your spending is a powerful tool to put YOU in control of your finances. Write down everything you spend and put it into a category. Keep a running daily, monthly and yearly average. Manage these figures rigorously. Even small changes like deciding not to purchase lattes or going out to lunch on a daily basis or forgoing the latest tech toy can save you hundreds - even thousands - of dollars per year. You might not know this fact if it weren’t for you tracking your expenditures. Do you know how much your average spending per day is?

At your fingertips  

Information is everywhere online these days for your self-education. Calculators, worksheets, sample budgets and even online courses are all there for you. Learn the language of financial terms and arm yourself with knowledge so you will not be taken advantage of by financial professionals. Only you have your best interest in mind when it comes to your financial future.

Build your future

What is better than the securities market for investing? The stock market has averaged returns well above inflation for years. 

When we retired in 1991 the S&P 500 Index closed at 312.49. Today it is much higher and in those 32 years the Index has averaged over 10% including dividends, which is about the norm and this is including the 2008 crash plus a few others.

So while as a Millennial you might feel you have extenuating circumstances which justify why you’re not building for your financial future, move past this obstruction. We all have had obstacles to overcome in life. Instead, take advantage of these life-changing money tips and get started today. Your financial future is dependent on it.

What's Your Number? - How much money do you need to retire?

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About the Authors

Billy and Akaisha Kaderli are recognized retirement experts and internationally published authors on topics of finance, medical tourism and world travel. With the wealth of information they share on their award winning website, they have been helping people achieve their own retirement dreams since 1991. They wrote the popular books, The Adventurer’s Guide to Early Retirement and Your Retirement Dream IS Possible available on their website bookstore or on

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Retire Early Lifestyle appeals to a different kind of person – the person who prizes their independence, values their time, and who doesn’t want to mindlessly follow the crowd.

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