Retire in your 30s, 40s or 50s

You don't have win the lottery or receive a big inheritance. Money magazine interviewed seven people who are getting financial independence on fairly average salaries.

"They are followers of the popular personal finance FIRE movement (financial independence retire early)" who are saving rigorously, investing sensibly and enjoying a modest lifestyle.

The article describes the FIRE movement as "the opposite of working flat-out through-out your life, piling on debt, living beyond your means and consuming voraciously."

"While most Australians rely on drip-feeding their ... retirement account FIREs are aggressively saving much more outside super."

So who are these people doing it so well?

Kate is 22, aiming to retire at 40.

Pat (32) is on track to retire at 35.

Dave retired at 28 having left school in year 11

Leo (34) and Alisha (32) will retire this year on 90k/year

Serina (48) retired at 46 with a family on 60-70k/year

Jason (48) is nearly at his 90k/year goal

Joanna retired at 51 and lives on 18k/year. She can afford more but hasn't needed to - so her savings have even grown 20% in retirement.

What do they all have in common?

Saving. While they each invest differently the common factor is simply that it's very achievable to live on way less than your earn.

By investing the savings these people are getting (or have gotten) to the point where their money is generating more than enough to live on.

Comments

Where is the best place to live?

Where we live determines a lot about our life. So today I'm going to share a resource that can help you decide where might be a good place to live. It started with an article ranking Brisbane suburbs from 1 to 260 . That ranking was based on a set of 17 factors. Here are some of them. But all 17 may not be relevant for you. And some might matter more than others. So they developed a tool where you can rank the 5 factors most important to you and it will give you a personalised list of Brisbane suburbs that would be the best for you - based on those factors. There are also Sydney and Melbourne versions. On the results page, there's also a map that colour-codes each suburb by star rating, for each factor. For instance here's the map for public transport. Five-star suburbs are in blue. When you click on a suburb, you get the name and the star rating of that suburb - for whichever factor you select. I find this to be so enlightening. I choose not to own a car. Some...

Less Clutter More Cash - now available

Do you feel like you have too much stuff? Is your home full of things you never use? Would you like to swap them for cash? We did My wife and I have sold more than 550 items online as we downsize and we've learnt a bit along the way. I've put some of our best tips into this handy ebook. I hope you can use these tips so you too can have less clutter and more cash. Enter your email address below to receive the book for free. Less Clutter More Cash Get my new ebook for free. PS. This will subscribe to the But Wait There's Less email list, so you'll know when the new updated version of the book is available. You can unsubscribe at any time.

The Latte Factor

For the first time ever I'm reviewing a novel. Latte Factor is a short story - around 120 pages - and is equal parts of inspirational story and financial education. The combination of the two is quite rare, and done quite nicely. The story is about Zoey Daniels, associate editor for a travel magazine. Although she's never been outside the USA - "a travel editor who's never travelled". She struggles with money and is considering a higher-paying job at the company her friend Jessica works for. The job would provide more income, but would also be more stressful and demanding. She already has a nightmare about being on an increasingly-fast treadmill that she struggles to stay on. Her current boss Barbara - aware only of the money situation - suggests she talk to Henry at the coffee shop. This peculiar suggestion is where Zoey's life begins to turn a corner. Spoiler Alert Being a book of fiction, I don't want to spoil the story for you. It's a book you ca...

But wait... there's less!

Search This Blog