Gold Coast tradie, 24, plans to retire early with property portfolio

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’ve always seen property as a stable and tangible investment,” Schofield said. “It’s something I can build on while diversifying with shares in the background.”

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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At just 18, he purchased his first home – a $600,000 property in Tweed Heads. (Source: Supplied)

“Real estate offers both capital growth and rental income, which can accelerate wealth accumulation,” he said.

However, Jindra cautioned that the FIRE movement isn’t for everyone.

“It requires significant discipline and sacrifices, and not everyone is in a position to invest aggressively.”

A balanced approach

Schofield’s journey hasn’t been without its challenges.

Working six nights a week in construction, he earns $160,000 annually, which he channels into his investments.

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. “I’ve got a six-month emergency fund in cash, not tied up in ETFs or property, so I’m prepared for any unexpected expenses,” he said.

For Australians looking to follow in his footsteps, Schofield advises starting small and staying consistent.

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)

“Track your spending, identify areas to cut back, and invest regularly. Property is a great option, but make sure you’re financially prepared before diving in,” he said.

For Schofield, the journey is far from over.

Living at home with his parents to save on expenses, he’s focused on growing his portfolio and achieving his dream of being “work optional” by 40.

“I don’t hate my job, but construction isn’t something I want to be doing forever,” he said. “Property gives me the flexibility to focus on what I’m passionate about, and that’s what financial independence is all about.”

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