by Last month, Tatiana and I took a weekend trip to NYC to visit some old friends. As we sat around their dining table, enjoying home-cooked meals and lively conversation, I couldn’t help but feel excited about our early retirement plans. Our hosts, an awesome couple, were getting inspired by our FIRE (Financial Independence, Retire Early) journey. Secretly, we hoped they’d join us so we’d have more friends to travel with in our early retirement years!
This short trip was a glimpse into our future—quality time with loved ones, new experiences, and the freedom to enjoy life on our terms. It got me thinking about what early retirement truly means to us and how we’re preparing for it.
Early Retirement: A Personal Definition
Early retirement means different things to different people. Forget what the “Internet Retirement Police” says about it. Forget how we, bloggers, are trying to define it for you. Focus on what it means to you.
For us, early retirement isn’t about never working again. It’s about having the freedom to choose how we spend our time. It’s about living life on our terms, free from the constraints of mandatory work.
Our Path to Early Retirement
We’re on track for Tatiana to retire at 33 and me at 44. How? It’s not magic—it’s math. We’ve maintained a savings rate of 65-70% in recent years. By focusing on buying back our time instead of following societal norms, we can retire much earlier than most.
Our investments, not our age, define our retirement readiness. Just because someone is 65 doesn’t mean they’re financially ready to retire. Conversely, being young doesn’t mean you can’t be prepared for retirement.
Living on Less, Getting More
One unexpected benefit of our high savings rate is that we’ve never gotten used to spending all our income. In 2016, our total expenses were less than half of what financial advisors predict we could spend in traditional retirement.
We’ve found that spending less doesn’t mean sacrificing happiness. In fact, it’s quite the opposite. We live very fulfilling lives on much less than we earn. This gap between our income and expenses not only accelerates our path to early retirement but also provides a buffer for occasional splurges.
Our Early Retirement Plan
Our plan is simple: save enough to fund our lifestyle forever. This includes covering essentials like food, shelter, clothing, and transportation, plus extras for travel and entertainment.
What if our plan fails? (It has a very low chance of failure, by the way.) The worst-case scenario is that we’d need to return to work, possibly part-time. To us, this risk is worth the potential reward of years of freedom.
What Early Retirement Means to Us
- Freedom to Say No: No more unnecessary meetings or projects we don’t enjoy.
- Time Reclaimed: Deleting the alarm notifications and living according to our natural rhythms.
- Slow Living: Enjoying home-cooked meals without rushing, saying goodbye to microwaves and lunch containers.
- Extended Travel: Three-month European trips without worrying about vacation days.
- Self-Reinvention: Time to explore who we really want to be, without work constraints.
- Weather-Based Living: Building our lives around pleasant weather, not work schedules.
- Active Lifestyle: More time for outdoor activities and passion projects.
The Beauty of Financial Independence
Early retirement, to us, means taking back our time to do the things that make us truly happy, while our passive income takes care of the bills. It’s about fueling our happiness with financial independence.
Call to Action
Are you inspired to start your own FIRE journey? Take the first step today by tracking your expenses for a month. You might be surprised at where your money is going and find opportunities to increase your savings rate. Share your findings with us—we’re here to support you on your path to financial independence!
Final Thoughts
As we navigate our path to early retirement, we’ve come to realize that FIRE is more than just a financial strategy—it’s a mindset shift that has transformed our entire approach to life. It’s about intentionally designing a life that aligns with our values, prioritizing experiences over possessions, and cultivating freedom and flexibility in our daily choices.
Our journey to financial independence has taught us invaluable lessons about resilience, creativity, and the true meaning of wealth. We’ve learned that wealth isn’t just about the numbers in our bank account, but about the richness of our relationships, the depth of our experiences, and the peace of mind that comes from financial security.
Early retirement isn’t an escape from work—it’s an opportunity to engage more deeply with the work and activities that truly matter to us. It’s about having the freedom to say “yes” to the projects, travels, and relationships that bring us joy and fulfillment without being constrained by the need for a paycheck.
As we continue on this path, we’re excited about the possibilities that lie ahead. We’re grateful for the community we’ve found among like-minded individuals pursuing FIRE, and we’re inspired by the stories of those who have already achieved their early retirement goals.
Remember, your FIRE journey is unique to you. Whether you’re just starting out or well on your way, stay focused on your personal definition of financial independence and the lifestyle you want to create. The road may not always be easy, but the destination—a life of freedom, purpose, and financial security—is well worth the effort.
Early retirement to me means no more excuses of having no money or time to do the activities I want. No more excuses to not visit my friends and family when I want to. And it also means being able to work on projects that I had no time or funding for. Great post!
All right! Those are great reasons to pursue FIRE! Good luck on your freedom path, Louis. Thanks!