Litigator-turned-real estate specialist named as pensions supersaver

Michael Roumell, a former Chicago litigator who retired at 50 in 2005 and took up real estate when he moved to Florida, has been named as one of the US's 'supersavers' in the New York Times.

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Supersavers are defined by the newspaper as people who make major cuts in their spending while earning as part of a conscious decision to build up savings and investments. Mr Roumell began buying into residential property in Chicago. He built up an income stream from them and then made capital gains when the neighbourhoods he bought into rose in value.

A lot of money from little effort

He said: 'I realised I could make a lot of money without doing very much. I could buy these houses and fix them up and get pretty good rent, so I started doing that.' Source: ABA

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