How I Retired Early At 49 With $1.3 Million In Ohio

Jackie Cummings Koski lives in southwestern Ohio and achieved FIRE at 49 years old with $1.3 million. Koski is an early retiree and member of the FIRE — or “Financially Independent, Retire Early” — movement. She worked at LexisNexis for 20 years earning an $80,000 salary, and reached $1,000,000 in net worth when she was 46. As a single Black mother, Koski says she tried to fight the wealth gap narrative at every turn because she knew no one could help her if she failed. She represents a population rarely thought of when it comes to financial independence and was thrilled to retire early in 2019.

About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.

Connect with CNBC Make It. Online

#CNBC
#CNBCMakeIt

How I Retired Early At 49 With $1.3 Million In Ohio

[CrystalJoy-]

The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.

[twdjt]

Finally someone with a realistic profession, achieving fire at a realistic age, while living a realistic lifestyle, and from a realistic background. Not these social media influencers with rich parents earning 200k+ a year with no kids, and achieving fire at 32.

[jalabi]

No shade to the CNBC Make It videos that feature YouTube influencers (do whatever you can to get the bag, right?) but seeing just a normal everyday woman who made her money the old-fashioned way is so wholesome. Congrats on achieving FIRE, Ms. Jackie! More power to you

[mabel]

THIS is a self-made millionaire. She worked and figured her way out of poverty and scarcity without contacts, inherited money or social status. What an achievement! Please do more videos with these kind of persons 💜

[DavielJames]

This literally the perfect example of the next door millionaire.

[okaydamian]

I’m closing in on retirement and I'd love to move from Minnesota to a warmer climate, but home prices are ridiculous now, do I go ahead with house purchase anyways, or look at other sectors of the market that's doing good this year?

[SCT]

She looks way younger than 49! I’m so happy for her and her success. I hope she lives a wonderful and restful rest of her life ❤️

[bernardallen]

Fortunately, I had a college economics professor who, when I was 18, gave me a lesson. You cannot buy something else for every purchase you make, was the lesson learned. Living within your limits and having a variety of income streams are prudent decisions. Consider taxes and your source of income. I made $k in total net income last year and didn't pay any federal taxes.

[charliej]

A friend makes 6 figures a year and has less than $6K in savings. His new Mercedes is $800/month and his rent is $3K/month. I’ve never made more than $60K a year but have more than 6 figures in savings and own property. I haven’t had a car note in nearly a decade (still drive my 2006 Honda that I bought used 11 years ago) and my primary mortgage is less than $1000/month. People think the secret to financial security is getting more money, but it’s really about making smart decisions with the money you already have.

[DavielJames]

This is my favorite episode yet! It shows you can achieve a decent lifestyle while not being burnt out and still having time for your kids, family, and friends! Let's go Jackie!!

[SophiaChristian-soof]

Planning retirement has never been this confusing! First SVB, then Signature bank and now First republic, these are all the signs of yet another 2008 market crash and recession 2.0, so my question is do I still save in the United States dollar, or could this be a good time to buy stocks? So I’m left wondering what 2023 has in store for us investors, I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here,

[kortyEdna]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million.

[PotBellyPete]

A Friend told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. is this a good way to potentially grow my retirement savings to about $3M over time?

[snek]

A millionaire without being a youtuber. Nice

[rachelschneider]

I absolutely love this! I especially respect she did this without wearing herself out and missing time with her daughter.

[Riggsnic_co]

Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.

[c.t.u.o]

I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments.

[KhaoticKim]

49? I would put her at 38 tops! she looks amazing!

[Chrissieb.rackett]

LOVE Jackie and this episode. This episode feels so realistic and Jackie is so inspiring!

[alexgorham]

"if you don't build your dream someone else will hire you to help build theirs"