Here are a few examples of people who have achieved FIRE:
1. Mr. Money Mustache (Peter Adeney)
- Background: Peter Adeney is a former software engineer who retired at the age of 30 after saving and investing a significant portion of his income.
- Approach: He and his wife focused on extreme frugality, saving over 50% of their income, and investing in index funds. They live a minimalist lifestyle and emphasize the importance of spending less and enjoying simple pleasures.
- Outcome: Peter now runs a popular blog, “Mr. Money Mustache,” where he shares his philosophy and strategies for achieving financial independence.
2. The Frugalwoods
- Background: Liz and Nate, a couple who achieved FIRE in their early 30s, were both working in the corporate world before deciding to pursue financial independence.
- Approach: They saved aggressively, lived below their means, and moved to a homestead in rural Vermont to reduce living costs. They also invested in low-cost index funds.
- Outcome: They now live on their homestead, spending their time on activities they enjoy, such as gardening and writing. Liz runs the “Frugalwoods” blog, sharing their journey and advice on financial independence.
3. Go Curry Cracker
- Background: Jeremy and Winnie retired in their 30s after working in the tech industry. They saved a substantial portion of their income and invested in stocks and real estate.
- Approach: They practiced extreme savings, invested wisely, and adopted a nomadic lifestyle, traveling the world and living in low-cost countries.
- Outcome: They now run the blog “Go Curry Cracker,” where they share their experiences and strategies for early retirement and financial independence.
4. Playing with FIRE (Scott Rieckens)(now on Sales, $15.39 in Amazon)
- Background: Scott Rieckens and his wife Taylor were living a typical middle-class lifestyle with high expenses. After discovering the FIRE movement, they decided to make drastic changes to achieve financial independence.
- Approach: They cut back on unnecessary expenses, downsized their home, and focused on saving and investing. They also documented their journey in the book and documentary, “Playing with FIRE.”
- Outcome: Scott and Taylor achieved financial independence and now spend their time with family and pursuing passions that matter to them.
5. Early Retirement Extreme (Jacob Lund Fisker)($24.95 in Amazon)
- Background: Jacob Lund Fisker retired at 33 after working as a physicist. He is known for his extreme approach to frugality and financial independence.
- Approach: Jacob saved up to 75% of his income and lived on as little as $7,000 per year. He invested in dividend-paying stocks and focused on self-sufficiency and minimalist living.
- Outcome: Jacob wrote the book “Early Retirement Extreme” and runs a blog where he shares his philosophy and strategies for achieving financial independence quickly.
These examples showcase different paths to FIRE, ranging from extreme frugality to moderate saving and investing. The key commonalities are high savings rates, strategic investing, and a focus on reducing living expenses.
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Source : Collected from the Internet and books.
