A 3-fund portfolio, a no-kid lifestyle, and a 'die with zero' mindset: How one NYC couple is retiring in their 40s

• Josette Chang and Alexander Nathanson paid off their mortgage early and hit financial independence in NYC.
• The couple has a simple investment approach and embraces a "die with zero" financial mindset.
• They've also avoided lifestyle creep and are intentional with how they spend their money.

Alexander Nathanson always wanted to live in Manhattan.

"When you get to Manhattan, you've made it in New York," the Brooklyn native told Business Insider.

When he and Josette Chang married in 2018, they fulfilled that dream by buying an apartment together in Midtown East. Beyond the personal significance for Nathanson, the purchase also made financial sense.

Chang, who had been renting in New York since moving there for graduate school, was tired of the annual rent hikes. "I realized, 'Wow, this is only going to go up.'"

The couple went from pricey New York City rent to a monthly mortgage, and, eventually, to an incredibly low housing payment when they paid off their mortgage early in 2024. For the past year and a half, their only housing expense has been the monthly maintenance fee that comes with co-op living. Business Insider reviewed public records filed with the New York City Register that confirm the couple's mortgage was paid off in September 2024.

That same year, Chang quit her finance job and began early retirement. Nathanson, a physician specializing in obesity medicine, scaled back his hospital hours.

As of February 2026, the financially independent couple comfortably lives off Nathanson's part-time salary. They could draw from their investment portfolio if needed, but they haven't had to.

Eliminating their mortgage played a major role in reaching that flexibility. So did earning high incomes and avoiding significant debt early on.

Nathanson said he paid off a relatively modest amount of student loans after attending medical school in-state. Chang had no student debt and was able to save aggressively in her 20s while working in Taiwan and living with her parents, keeping her expenses low.

"We have to acknowledge our privilege," Nathanson said. "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 financial independence wasn't built on stock picking or rental properties. Instead, it came down to a few deliberate choices.

1. Simplified investing

Before hiring a financial planner, Chang and Nathanson were saving, but without a clear plan.

"We were kind of on autopilot," Nathanson said. "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 intentionally simple, consisting of just three low-cost index funds: a total US stock market fund, a total international stock market fund, and a total bond market fund.

They've deliberately avoided more speculative investments, such as individual stock picking and cryptocurrency.

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

2. A child-free life and "die with zero" mindset

The couple's financial plan is also shaped by their decision not to have children.

"We don't plan to have a large estate that we want to pass down," Nathanson said. They've completed estate and long-term care planning with the understanding that they won't have children 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' book, which encourages prioritizing life experiences over endlessly growing a portfolio.

For them, financial independence isn't about building the biggest possible net worth. It's about having the flexibility to spend intentionally on experiences and priorities that matter to them.

Although Nathanson's part-time income means they aren't currently drawing from their investments, they know they could.

"We did the math and realized we can start spending it down," he said. "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 lifestyle creep

Earning two professional salaries in New York City can create pressure to spend accordingly. For Nathanson and Chang, avoiding lifestyle inflation has been central to reaching financial independence.

"As income goes up, we try to be intentional about what we spend money on," said Nathanson.

They nearly upgraded to a larger apartment, but ultimately decided against 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 said.

They decided the answer was no.

"Moving up would be just riding the hedonic treadmill," he said. "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 plays a huge role, especially in a city like New York.

"Comparison is the thief of your joy," she said. "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 said. "Don't be on autopilot. Don't make decisions just because that's what everyone around you is doing."