A 24-year-old construction worker has revealed how he’s leveraging Australia’s booming property market to achieve financial independence and retire by the age of 40.
With four investment properties already under his belt, Kaleb Schofield is proving that strategic real estate investment can be the cornerstone of early retirement dreams.
Schofield, who hails from the Gold Coast, has embraced the Financial Independence Retire Early (FIRE) movement, a growing trend in Australia that encourages aggressive saving, investing, and living below your means to achieve financial freedom.
For Schofield, property has been the game-changer.
At just 18, he purchased his first home – a $600,000 property in Tweed Heads – after saving a 20 per cent deposit through years of disciplined investing in exchange-traded funds (ETFs) and bonds.
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Gold Coast man Kaleb Schofield is hoping retire by the time he is 40 and has already built up an impressive share and property portfolio. (Source: Supplied)
Fast forward six years, and his portfolio now includes two houses on the Gold Coast, an apartment in Melbourne, and a house north of Brisbane, collectively generating $1m in equity.
“I don’t hate my day job, don’t get me wrong. Absolutely, I like going to work. Is construction something I want to be doing when I’m 40? Probably not, and my body probably won’t either,” he said.
Schofield’s property success is underpinned by a clear strategy: he lives frugally, invests aggressively, and ensures his financial foundations – like an emergency fund and insurance – are solid.
His ultimate goal? To expand his property portfolio further while building a $1.5m share portfolio that generates $40,000 to $50,000 in annual passive income.
The FIRE movement and property’s role
The FIRE movement, which has gained traction among young Australians, focuses on reducing expenses and investing the surplus to create a stream of passive income.
While many FIRE advocates lean heavily on shares, Schofield’s story highlights the power of property as a cornerstone of financial independence.
Financial adviser Josef Jindra said property can play a pivotal role in the FIRE strategy, particularly for Australians.
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![Supplied Real Estate Gold Coast man Kaleb Schofield is hoping retire by the time he is 40
and has already built up an impressive share and property portfolio. (Source: Supplied)](data:image/svg+xml,%3Csvg%20xmlns="http://www.w3.org/2000/svg"%20viewBox="0%200%20768%201024"%3E%3C/svg%3E)
At just 18, he purchased his first home – a $600,000 property in Tweed Heads. (Source: Supplied)
“You could experience an over-sacrifice of your lifestyle. If you want to maintain an ultra-lean lifestyle, you’ve got to think what third-party stresses it can cause,” he said.
A balanced approach
Schofield’s journey hasn’t been without its challenges.
Over the past two years, he has been investing $1,500 a fortnight into ETFs, building a $120,000 share portfolio alongside his property assets.
Despite his aggressive investment strategy, Schofield emphasises the importance of balance.
For Australians looking to follow in his footsteps, Schofield advises starting small and staying consistent.
“Go for a good broker for advice and education. Track your savings and your spending and see where you could potentially be cutting back on,” he said.
Schofield is currently investing $1,500 a fortnight into ETFs, with the help of a financial adviser, and hopes to have a $1.5 million share portfolio in the future. (Source: Supplied)
