For years, Josette Chang and Alexander Nathanson were doing all the “right” things with their money — maxing out retirement accounts, saving consistently, and earning high incomes in finance and medicine — but they didn’t have a clear plan.
“We were kind of on autopilot,” Nathanson told Business Insider. “The internet says, ‘Max out your 401(k).’ We did that, but we didn’t really think much beyond that.”
Within a year of investing in a financial planner and reevaluating their strategy, the New York City couple were surprised to learn that they had already reached financial independence. Chang quit her finance job in 2024, and Nathanson, a physician specializing in obesity medicine, scaled back his hospital hours. He doesn’t work because he has to, but because he wants to.
“We have to acknowledge our privilege. We’re two high-income professionals, but even then, I still feel like more people can do it than may realize it,” Nathanson said.
Here are the three money moves they say set them up for early retirement.
1. Getting input from a third party
Nathanson and Chang weren’t financial novices. Chang worked in finance, and Nathanson regularly read about investing
“I thought that I knew what I was doing,” Nathanson said. “Turns out when you speak with a knowledgeable third party, it really can change things profoundly.”
That’s ultimately what they decided to do, even though they were initially wary of hiring a professional. Like many high earners, they were skeptical of the traditional assets-under-management model, where advisors earn more as portfolios grow.
The couple chose to work with a flat-fee planner, Dr. Jay Zigmont, who specializes in advising people without children. One of the first things he did was challenge how they were thinking about financial independence.
“We assumed early retirement required building a portfolio of rental properties: You need rental properties, and you need a lot of them,” said Nathanson, noting that he and Chang never wanted to be landlords. “Working with Jay shed some of those misconceptions. It allowed us to prioritize what we actually want to do and what we don’t want to do.”
Beyond reframing their mindset, their planner also put structure behind their numbers. When you’re after financial independence, figuring out how much is “enough” to quit or scale back from work isn’t a simple calculation and involves factoring in things like how much your money will compound, long-term care, and withdrawal strategies.
“It’s an important calculation. It’s not necessarily simple,” said Nathanson. “I don’t think anyone could just sit down and do it themselves, but once all of that is done, I would say that more people are further along than they think.”
Courtesy of Josette Chang and Alexander Nathanson
2. Investing their savings instead of letting cash sit
Another key shift was how they handled their savings. Before hiring a professional, they had parked a significant amount of money in a high-yield savings account while debating whether to upgrade to a larger home.
Once they decided to stay put, they realized that cash could be working harder for them in an investment account.
Today, their portfolio is intentionally simple, consisting of three low-cost index funds: a total US stock market fund, a total international stock market fund, and a total bond market fund.
“We believe in an evidence-based investment strategy,” Chang said, adding that they deliberately avoid more speculative investments, such as individual stock picking and cryptocurrency.
3. Paying off their mortgage
The third move ran counter to common financial advice. Conventional wisdom often suggests keeping a low-interest mortgage and investing the extra cash instead. When they bought their New York City apartment in 2018, they said they financed half the purchase. Their initial mortgage rate was 3.75%, and they later refinanced to around 3.1%.
“That seems to be the conventional wisdom, right? ‘Oh, it’s a low rate. Don’t touch it,'” Nathanson said.
Still, they chose to eliminate their debt completely. Business Insider reviewed public records filed with the New York City Register that confirm the couple’s mortgage was paid off in September 2024.
It was a “psychological weight” they lifted, Nathanson said, though the financial impact was significant as well. With their largest expense gone, his part-time salary now comfortably covers their costs, meaning they don’t yet have to draw from their portfolio.
For Chang and Nathanson, the shift from autopilot to intention made all the difference.
“Don’t make decisions just because that’s what everyone around you is doing,” Nathanson said.