This single mother started with $20,000 and is now an early-retired millionaire — here’s one thing that helped her

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How did this single mom go from $20,000 in her 401(k) to 1.3 million a little over a decade later? She found mentors in her investment club that helped her focus on growing her net worth.

Jackie Cummings Koski has been a member of her local investment club for 11 years and is now on the board of directors — but when she first started out, she had little money to her name and no clear path to financial freedom.

“All of those things play into how hard it was in the very beginning,” she said. “Going from poverty to financially independent — that’s a path that most people I’m working with can get and connect with.” The early retiree pointed out that this wouldn’t be possible everywhere — she lives in Ohio, where home prices are not nearly as high as some major hubs like New York City or San Francisco — so her mortgage, taxes and insurance amounted to about $1,000 a month. Still, she was careful with her money. She’d buy a luxury vehicle, but one that was three to five years old and with a price tag half of what it was when it was new.

Also see: I’m a 32-year-old stay-at-home mom, and my husband earns $150,000 a year. Will I ever be able to enjoy a retirement?

 

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Thats the spirit. Job well done 👍🏼

An easier way would have been to be born into money....like so many out there. Way easier.

she got idiots to pay to hear her speak, like in the pictures. ? yes! ding ding ding ding.

$TQQQ

With a yearly 401k max of $20k, this doesn’t add up.

By buying $BUIDL and $ARTE.

Also, she knows someone who 'knows someone'

Suggestion to make income levels more clear in articles like this. With an 80k salary and spending 45k per year, does the spending include taxes? If not, what was her salary after tax?

She invested in everything Jim Cramer told her to!

Mentor being fed?

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