How One Couple Hit Monetary Independence Residing in New York City

Alexander Nathanson at all times wished to reside in Manhattan.

“When you get to Manhattan, you’ve made it in New York,” the Brooklyn native advised Business Insider.

When he and Josette Chang married in 2018, they fulfilled that dream by shopping for an residence collectively in Midtown East. Beyond the private significance for Nathanson, the acquisition additionally made monetary sense.

Chang, who had been renting in New York since transferring there for graduate college, was bored with the annual lease hikes. “I realized, ‘Wow, this is only going to go up.'”

The couple went from dear New York City lease to a month-to-month mortgage, and, finally, to an extremely low housing fee after they paid off their mortgage early in 2024. For the previous yr and a half, their solely housing expense has been the month-to-month upkeep charge that comes with co-op residing. Business Insider reviewed public data filed with the New York City Register that affirm the couple’s mortgage was paid off in September 2024.

That similar yr, Chang give up her finance job and commenced early retirement. Nathanson, a doctor specializing in weight problems drugs, scaled again his hospital hours.

As of February 2026, the financially unbiased couple comfortably lives off Nathanson’s part-time wage. They might draw from their funding portfolio if wanted, however they have not needed to.

Eliminating their mortgage performed a significant function in reaching that flexibility. So did incomes excessive incomes and avoiding vital debt early on.

Nathanson stated he paid off a comparatively modest quantity of pupil loans after attending medical college in-state. Chang had no pupil debt and was in a position to save aggressively in her 20s whereas working in Taiwan and residing along with her dad and mom, retaining her bills low.

“We have to acknowledge our privilege,” Nathanson stated. “We’re two high-income professionals, but even then, I still feel like more people can do it than may realize it.”

Their path to monetary independence wasn’t constructed on inventory selecting or rental properties. Instead, it got here down to some deliberate decisions.

1. Simplified investing

Before hiring a monetary planner, Chang and Nathanson have been saving, however and not using a clear plan.

“We were kind of on autopilot,” Nathanson stated. “We didn’t have a clear strategy in mind. The internet says, ‘Max out your 401(k).’ We did that, but we didn’t really think much beyond that.”

Now, their portfolio is deliberately easy, consisting of simply three low-cost index funds: a complete US inventory market fund, a complete worldwide inventory market fund, and a complete bond market fund.

They’ve intentionally averted extra speculative investments, similar to particular person inventory selecting and cryptocurrency.

“We just feel those types of investments have less track record and a higher risk profile,” Chang stated. “At the point we are in our lives, we’re comfortable relying on the historical performance of index funds.”

Alexander Nathanson and Josette Chang

2. A baby-free life and “die with zero” mindset

The couple’s monetary plan can be formed by their choice to not have kids.

“We don’t plan to have a large estate that we want to pass down,” Nathanson stated. They’ve accomplished property and long-term care planning with the understanding that they will not have kids as default caregivers.

“We like the ‘Die With Zero’ approach: Use the money when you can. There’s no point in continuing to accumulate forever,” he added, referring to Bill Perkins’ e-book, which inspires prioritizing life experiences over endlessly rising a portfolio.

For them, monetary independence is not about constructing the most important doable internet value. It’s about having the flexibleness to spend deliberately on experiences and priorities that matter to them.

Although Nathanson’s part-time earnings means they are not presently drawing from their investments, they know they may.

“We did the math and realized we can start spending it down,” he stated. “Ironically, we’re not doing that yet because I’m still working, but I’m doing that not out of necessity. It’s because it’s what I want to be doing.”

3. Avoiding way of life creep

Earning two skilled salaries in New York City can create stress to spend accordingly. For Nathanson and Chang, avoiding way of life inflation has been central to reaching monetary independence.

“As income goes up, we try to be intentional about what we spend money on,” stated Nathanson.

They practically upgraded to a bigger residence, however finally determined towards it. “We looked at bigger places and really thought about it: ‘Do we need to sell our current place just to move into a slightly bigger one in the same neighborhood?'” he stated.

They determined the reply was no.

“Moving up would be just riding the hedonic treadmill,” he stated. “You get a bigger place now, and a few years later you’ll want a bigger place again. We consciously decided to get off that treadmill.”

Chang added that mindset performs an enormous function, particularly in a metropolis like New York.

“Comparison is the thief of your joy,” she stated. “When you live here, it’s easy to see what everyone else is doing, especially on social media. But it’s important to stay on course and remember why you’re doing this.”

For them, that “why” was work optionality.

“Identify what’s important for you,” Nathanson stated. “Don’t be on autopilot. Don’t make decisions just because that’s what everyone around you is doing.”