10 Ways to Reduce Your Expenses and Gain $200k or More

Becoming financially independent can be a slow process, taking many years to achieve. Simply lowering your expenses, allowing you to save more money and increasing your savings rate, will help you retire even earlier. If you reduce your expenses you can retire years earlier! Let’s say you currently save $2,000 per month. You make aContinue reading “10 Ways to Reduce Your Expenses and Gain $200k or More”

Budgeting to Help you FIRE

If you live on a fixed income, budgeting your monthly expenses will help you FIRE earlier. Many financially independent people, attest that budgeting helped them reach their goals and allowed them to retire earlier. Knowing where your money is going is half the battle. If you know where your money is going each month, youContinue reading “Budgeting to Help you FIRE”

Work From Home (WFH) – A test of “Retire Early”

I like my career well enough to stick with it and have a reasonable level of happiness and fulfillment . I would probably be content with working until my 60s. However, I strive for more fulfillment and more free time to pursue hobbies and for more quality time with my wife and future family. IContinue reading “Work From Home (WFH) – A test of “Retire Early””

How to Calculate Your Savings Rate & Help You FIRE Sooner

Your savings rate is a very important aspect of FIRE. The more money you save, the less you spend, and the faster you retire and become financially independent. With the below simple formula, you can calculate your savings rate too! The Simple Math Savings Rate = Savings/(Gross Income – Taxes) I will calculate my savingsContinue reading “How to Calculate Your Savings Rate & Help You FIRE Sooner”

Roth IRA Conversion Ladder- 5 Steps to Use the Golden Tool to Climb into Financial Independence

Many individuals pursuing Financial Independence / Retire Early often wonder- where will my money come from if I retire before the age limit for withdrawing from retirement accounts without penalty? This age limit is 59.5 years in the USA. If you retire at 30 years old, how would you avoid the 10% early withdrawal penaltyContinue reading “Roth IRA Conversion Ladder- 5 Steps to Use the Golden Tool to Climb into Financial Independence”

FIRE Mental State to go Along with Your Savings Rate – Financial Independence, Retire Early

For many, saving for FIRE is a slow journey. For me, my goal is to be FIREd in 8-12 years. If your outlook for FIRE is many years away, how do you stay focused on your goal? FIRE is not a financial diet, it’s a lifestyle change The key for me, is making FIRE myContinue reading “FIRE Mental State to go Along with Your Savings Rate – Financial Independence, Retire Early”

28 Ways to Live a Frugal Lifestyle and Increase Your Savings Rate

What is frugality? Being frugal is being mindful of your spending and intentionally spending your money on items you need while getting the best overall deal for your purchase. Being frugal is not being cheap. If you buy only with the intent of buying the lowest cost option, you may sacrifice quality and in theContinue reading “28 Ways to Live a Frugal Lifestyle and Increase Your Savings Rate”

The FIRE Movement – Financial Independence, Retire Early

What is FIRE? It’s not the exothermic chemical process of combustion nor a meaning that you got fired from your job, FIRE stands for Financial Independence, Retire Early. Financial Independence Financial independence is when you have a net worth high enough that you can cover your expenses without your money running out. Technically speaking, youContinue reading “The FIRE Movement – Financial Independence, Retire Early”

The 4% Rule – Just Save 25x yearly expenses and Retire!

This sounds too easy to be true, right? Wrong- it actually is that easy. Just save 25 times your yearly expenses and you will be prepared to retire. Once you are retired, you will live off of 4% of your nest egg each year in retirement. How does 25X yearly expenses and 4%/year relate? It’sContinue reading “The 4% Rule – Just Save 25x yearly expenses and Retire!”

3 Key Differences of Roth IRAs vs Traditional IRAs- and Which to Choose for FIRE

Saving for retirement is very important, especially in pursuit of FIRE. If your goal is to retire early, what is the best IRA for you? In this blog, I’ll explain the 3 key differences and explain why I choose one over the other. Traditional IRA Taxes Money you contribute to a Traditional IRA is notContinue reading “3 Key Differences of Roth IRAs vs Traditional IRAs- and Which to Choose for FIRE”