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- A Boomer Retired with Over $1 Million in the Bank. Now, She Travels Europe: ‘I Can’t Say I Would Have Done Much Differently’
A Boomer Retired with Over $1 Million in the Bank. Now, She Travels Europe: ‘I Can’t Say I Would Have Done Much Differently’
Ark
April 20, 2025
At 67, Susan Mitchell is living a life many dream of. After decades of diligent saving and a successful career in financial planning, she retired with over $1 million in her accounts. Now, she’s traversing Europe, from the cobblestone streets of Lisbon to the sun-drenched cliffs of Santorini, embracing a retirement filled with adventure and reflection. “I can’t say I would have done much differently,” she says, sipping espresso in a Parisian café. Her story offers a glimpse into the rewards of disciplined financial planning and the freedom it can unlock.
Building the Foundation
Susan’s journey to a million-dollar retirement wasn’t built on luck. Raised in a middle-class family in Ohio, she learned early the value of saving. “My parents weren’t wealthy, but they were frugal,” she recalls. After earning a degree in economics, she entered the financial sector, eventually becoming a certified financial planner. Her career provided a steady income, peaking at $120,000 annually, but it was her saving habits that set her apart.
From her 20s, Susan maxed out her 401(k) contributions and invested in a diversified portfolio of stocks and bonds. “I wasn’t obsessive, but I was consistent,” she says. She avoided lifestyle inflation, keeping her expenses modest even as her income grew. By her 50s, her investments had compounded significantly, and she began exploring real estate, purchasing two rental properties that generated passive income. According to the Federal Reserve, only about 10% of Americans aged 60 and older have $1 million or more in retirement savings, placing Susan in an elite group.
The Decision to Retire
Susan retired at 62, earlier than many of her peers. “I’d hit my financial goals, and I wanted to enjoy my health while I had it,” she explains. Her portfolio, a mix of index funds, real estate, and fixed-income assets, was designed to provide $60,000 annually, adjusted for inflation, based on a conservative 4% withdrawal rate. She also receives $24,000 a year from Social Security, which covers her basic living expenses.
The decision wasn’t without anxiety. “The market’s volatile, and you worry about outliving your savings,” she admits. But her years as a planner gave her confidence in her strategy. She worked with a fiduciary advisor to stress-test her portfolio against scenarios like market crashes or unexpected healthcare costs. “I knew I could weather most storms,” she says.
Embracing Europe
Post-retirement, Susan sold her Ohio home and moved to a smaller condo, freeing up capital for travel. Europe, with its rich history and diverse cultures, became her playground. “I’d always wanted to see the world, but work kept me tethered,” she says. Now, she spends six months a year abroad, renting apartments through platforms like Airbnb for stays in cities like Florence, Barcelona, and Vienna.
Her travel style is deliberate, favoring slow exploration over rushed itineraries. In Lisbon, she took a month-long Portuguese language course. In Greece, she joined a local hiking group to explore Crete’s gorges. “It’s not about checking off landmarks; it’s about living in these places,” she says. Her budget—roughly $3,000 a month for travel—covers accommodations, food, and activities, supplemented by her investment income.
Susan’s story resonates on platforms like X, where retirees share tips on maximizing savings for travel. Posts from users in similar situations highlight the appeal of Europe’s affordability compared to the U.S., with lower healthcare and living costs in countries like Portugal and Spain. Susan agrees: “My money goes further here, and the quality of life is incredible.”
Reflections and Advice
Looking back, Susan credits her success to consistency and avoiding debt. “I never carried a credit card balance, and I didn’t try to keep up with the Joneses,” she says. She acknowledges privileges, like a stable career and no major health setbacks, but emphasizes that small choices compounded over time. “You don’t need to be rich to save; you just need to start early and stay the course.”
Her advice for younger generations? “Invest in low-cost index funds, automate your savings, and don’t touch your retirement accounts.” She also advocates for balance. “I didn’t deprive myself—I went on vacations, bought nice things—but I always prioritized my future.”
Susan isn’t without regrets. She wishes she’d spent more time with family in her 40s, when work consumed her. “Money’s important, but so is connection,” she reflects. Still, her retirement is proof that her strategy worked. “I’m living exactly how I want, and that’s rare.”
Looking Ahead
As she plans her next stop in Budapest, Susan remains optimistic about her future. She’s exploring volunteer opportunities, like teaching financial literacy to women in underserved communities, as a way to give back. Her health is strong, and her portfolio continues to perform, buoyed by a strong market in 2024.
Susan’s story is a testament to the power of planning and the possibilities it can unlock. “I can’t say I would have done much differently,” she repeats, gazing at the Seine. For those still building their nest egg, her journey is both inspiration and a reminder: a million-dollar retirement—and a life of adventure—starts with a single step.
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