Cashing Out

what if everything you’ve been told about success – climbing the corporate ladder, working for decades, and retiring at 65 – was actually a trap? that’s the question julien and kiersten saunders asked themselves when they realized their high-paying jobs weren’t leading to financial freedom, but instead locking them into a cycle of stress and limited choices.

their wake-up call came on a south african beach, where they saw firsthand what true financial independence looked like. that moment set them on a path to break free from corporate america, build multiple income streams, and reach the 90th percentile of wealth for their age group – all while redefining what wealth actually means.

through their story, you’ll discover why traditional employment might be holding you back, how to build stealth wealth instead of chasing flashy status symbols, and why the first $100,000 is often the hardest to save. they break down key financial principles, from the power of low-cost index funds to finding high-impact side hustles using the urgency-upside axis. plus, their 15-year plan to exit corporate america offers a fresh, realistic roadmap to financial freedom.

the saunders don’t just acknowledge systemic barriers – especially those affecting black americans today – they provide creative, actionable strategies to overcome them. their message is clear: building generational wealth is possible, but it requires a shift in mindset about what success truly looks like and how to achieve it.

so, ready to think differently about money and success? then let’s get started.

meet julien and kiersten saunders. they're wealthy. in fact, they rank in the 90th percentile for wealth in families of their age group in the united states. what's more, they want to make you wealthy, too. but here's the thing: if you're a black american, the financial system is stacked against you. so if you want to attain financial freedom and build generational wealth, you're going to need to get creative, just like the saunders' did.

the numbers tell a brutal story. the median white family has ten times the wealth of the median black family, a gap that hasn't meaningfully narrowed in decades. over their lifetime, black americans earn up to $1 million less than their white counterparts – a gap that compounds with each passing year as lost wages mean lost investment opportunities, lost home equity, and lost compound interest.

this wealth gap isn't an accident. it's the result of generations of systemic barriers: redlining practices that prevented black families from buying homes in appreciating neighborhoods, discriminatory lending that made starting businesses nearly impossible, and workplace discrimination that continues to limit advancement opportunities. even today, black professionals face lower promotion rates, systematically lower pay for equal work, and higher job instability during economic downturns.

the saunders understood this reality. rather than betting their future on corporate advancement – a system where the odds were stacked against them – they chose to create wealth outside traditional pathways. after paying off $200,000 in debt, they built multiple income streams through their blog rich & regular, secured a book deal, and invested strategically in real estate. their approach acknowledges a hard truth: in a system where black professionals are systematically undervalued and underpaid, relying on a single corporate salary is just too risky.

their message to other black americans is clear: building wealth is possible, but it requires thinking differently. it means creating your own opportunities through entrepreneurship, developing multiple income streams, and finding ways to build wealth that bypass traditional gatekeepers. while their success won't dismantle systemic racism, their strategy offers a practical blueprint for achieving financial independence despite these persistent barriers.

picture this: a couple sitting on one of the world's most beautiful beaches in camps bay, south africa. the atlantic waves are crashing, the warm sun is shining down on them, but julien and kiersten saunders barely notice. they're hunched over their phones, frantically responding to work emails. that's when they knew something had to change.

their research led them to the fire movement – financial independence, retire early. the concept is simple but powerful: save and invest aggressively in your 30s and 40s so you can build enough wealth to live life on your own terms. typically, this means saving 50-70% of your income and investing in low-cost index funds until you've saved 25 times your annual expenses.

initially, they were skeptical. fire seemed like something for silicon valley tech workers, not black professionals. but facing another 30 years of corporate grind – in a system where black employees remain dramatically underrepresented in leadership roles – they decided to give it a shot.

the reasons to pursue financial independence are compelling, especially for black americans. beyond escaping the 49+ hour workweeks that drive 16.4% of americans to burnout, it offers protection from corporate instability and creates space for family life.

but here's the key: you need to redefine what wealth means to you. we're bombarded with images of black success tied to luxury – athletes and entertainers with designer clothes and expensive cars. real financial freedom looks different. it might mean a modest home that's fully paid off, a reliable car kept for 15 years, and most importantly, time – time to savor life, pursue passions, and be present with family.

this is "stealth wealth" – having significant assets but few outward signs of prosperity. it's about growing your net worth quietly and consistently, resisting lifestyle inflation while maintaining a comfortable but modest standard of living.

for black americans navigating a financial system that's often stacked against them, this mindset shift is crucial. it's not about deprivation – it's about choosing freedom over flash, security over status, and building lasting wealth that can transform not just your life, but generations to come.

when julien and kiersten saunders started their journey to financial independence, they discovered something crucial: before you can build wealth, you need to understand your relationship with money. and this starts with one game-changing question: what is the purpose of your income?

if you don't answer this question for yourself, someone else will – whether it's advertisers, social pressure, or cultural expectations. and for black americans especially, these pressures can be intense.

most people fall into one of three financial personalities. there's the financially insecure, living paycheck to paycheck – a situation that disproportionately affects black americans due to generational poverty and systemic barriers. then there's the fast spender, always chasing the next purchase, believing they'll start saving "tomorrow." finally, there's the middle class mindset, where success means a big house and nice car, but true financial freedom remains elusive.

breaking free from these patterns requires understanding the four levels of financial purpose. level one is security – your safety net. this means tackling your essential expenses: housing, transportation, and food. for many, this requires challenging deeply held beliefs about status symbols, especially in communities where visible success feels important.

level two is flexibility – having enough cushion to make choices without compromising basics. many people get stuck here, falling into what's called the "progress trap." they achieve security, but then increase their lifestyle spending instead of pushing toward true independence.

level three is independence – when work becomes optional. the fire movement defines this as having 25 times your annual spending saved and invested. 

but the highest level, level four, is freedom – where wealth isn’t just about having enough, but about creating opportunities for yourself and future generations. this is where the saunders are headed, and they’re helping others get there too.

the shift in mindset required to reach this level isn’t about restrictive budgeting or penny-pinching – it’s about making intentional financial choices. living below your means is the foundation of wealth-building. tracking every dollar monthly matters because you can’t manage what you don’t measure. but perhaps most importantly, the way you evaluate spending must change. instead of asking, “can i afford this?” the real question should be, “at what cost?” the true price of any financial decision isn’t just the dollars you spend – it’s the freedom you might be trading away.

when julien and kiersten saunders mapped out their escape from corporate america, they landed on a magic number: 15 years. that's how long they believe it takes to build enough wealth to cash out – assuming you're in a dual-income household.

years one through five mark your early career chapter, and this is all about tackling debt. for black college graduates especially, this is crucial. as of 2020, black graduates started their careers owing an average of $32,000 in student loans – 40% more than their white counterparts, thanks to the racial pay gap and predatory lending practices.

during these first five years, you've got two powerful strategies for crushing debt – the avalanche method, and the snowball method. think of the avalanche method like fighting a house fire – you target the hottest flames, or highest interest rates, first. this saves you the most money long-term. the snowball method, on the other hand, is like rolling a snowball downhill – start with your smallest debts, build momentum, and watch your confidence grow. every raise, bonus, and saved dollar goes toward becoming debt-free. remember: living frugally doesn't mean living joylessly.

years six through ten focus on finding your superpower. now debt-free, you can focus on building multiple income streams. this might mean investing in real estate, building an investment portfolio, or starting a side business. just as crucial: invest in yourself. build your skills, grow your network, and showcase your wins on platforms like linkedin. as the saunders say, "closed mouths don't get fed."

the final five years, years ten through fifteen, are when you build your escape hatch from corporate life. this means maximizing every tax advantage the system offers. put as much as you can into your 401(k) – that's money that grows tax-free until retirement. open a health savings account if you can – it's like a secret weapon that lets you save pre-tax dollars for medical expenses. start building a separate investment account (called a brokerage account) for money you might need before retirement age. most importantly, this is when you start shifting more time and energy into your side hustles, preparing them to become your main source of income. think of it like building a bridge while you're still safely on solid ground – by the time you're ready to cross, it's strong enough to hold you.

remember, this timeline isn't rigid. some people might need more time, others less. the point isn't to race to the finish line – it's to move purposefully toward financial independence. 

when julien and kiersten saunders talk about building wealth, they emphasize one crucial mindset shift: stop seeing your salary as your ceiling. traditional employment can be a trap – it limits you to trading time for money, caps your earning potential with annual raises that barely keep pace with inflation, and restricts your ability to scale your income. plus, that monthly paycheck structure? it's actually working against you, delivering smaller amounts that are harder to invest compared to the lump sums you could earn through other income streams.

but here's the exciting part: there's a whole spectrum of ways to earn money outside the 9-to-5. the saunders suggest using what they call the urgency-upside axis to find your perfect side hustle. let's break down some options.

need cash quickly? bank account bonuses are a clever hack – banks will literally pay you to open accounts with them. we're talking $200 to $500 just for depositing your money and meeting certain requirements. for example, chase might offer $300 if you keep $5,000 in a new account for 90 days. the key is to read the fine print and track those minimum balance requirements carefully.

the gig economy offers more flexibility and creative options than you might think. beyond uber and doordash, there's a whole digital marketplace out there. freelance writers can earn $50-200 per article on platforms like medium or upwork. voice actors can make $100-500 per project on fiverr. the trick is to specialize – general skills earn general pay, but expertise commands premium rates.

arbitrage – which simply means buying something where it's cheap and selling it where it's expensive – takes more patience but can yield bigger returns. this isn't just about flipping items on ebay. smart arbitrage players spot opportunities everywhere: maybe it's buying discounted gift cards and reselling them, purchasing limited edition sneakers to resell when they're scarce, or even finding underpriced furniture at estate sales to restore and sell to high-end buyers. the key is understanding value differences between markets. success requires research and a good eye for what people will pay more for.

digital products represent the holy grail of passive income. think online courses, ebooks, or templates. the saunders started with a blog and expanded into online courses about financial freedom. while it might take 3-6 months to create and launch a product, it could generate income for years. the secret? create something that solves a specific problem for a specific audience.

when it comes to building wealth, the saunders have a clear message: earning money is just the first step – you need to make that money work for you through smart investments. let's break down how they did it, starting with some basics that your financial advisor might not want you to know.

think of mutual funds like hiring a professional chef to cook for you. you're paying them to actively pick and choose investments, trying to beat the market. sounds good, right? but here's the catch: these funds often charge 1-2% in fees annually, which might not sound like much until you realize it could cost you hundreds of thousands in lost returns over time.

index funds, on the other hand, are like following a proven recipe. they simply track established market indexes, like the s&p 500. the fees? dramatically lower – usually around 0.03-0.1%. here's what that means in real money: if you invest $10,000 and the market grows 7% annually, after 30 years you'd have about $76,000 with a typical mutual fund versus $102,000 with an index fund. that's a $26,000 difference just from fees!

the saunders learned this lesson the hard way. their journey to their first $100,000 began when they fired their financial advisor and took control of their investments. they simplified everything: 90% of their money went into vanguard's total market index fund, which essentially owns a piece of every major u.s. company, and 10% into bond index funds for stability.

instead of trying to guess which sectors would perform best, they focused on what they could control: living on less than they earned and consistently investing the difference. every bonus, tax refund, or unexpected windfall went straight into more index fund shares. the first $100,000 was the hardest – after that, their money really started working for them.

here's what made it work: they stopped paying high fees to financial advisors and actively managed mutual funds, automated their investments through their employer's 401(k), and stuck to their strategy even when the market got rocky. the lesson? sometimes the simplest approach is the most powerful.

in this chapter to cashing out by julien and kiersten saunders, you’ve explored the systemic barriers that make wealth-building more challenging for black americans – including the stark reality that they earn, on average, $1 million less over a lifetime than their white counterparts. but financial independence is still possible with the right approach. instead of relying solely on traditional corporate advancement, the saunders advocate for building multiple income streams and embracing stealth wealth – a mindset that prioritizes financial security over outward displays of success. by leveraging strategic side hustles and investing in low-cost index funds, you can create lasting wealth despite systemic challenges.

okay, that’s it for this chapter. we hope you enjoyed it. if you can, please take the time to leave us a rating – we always appreciate your feedback. see you in the next chapter.