The Decibel Meet the people who save aggressively to retire early
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Sep 22, 2025 Meera Raman, a Globe retirement and financial planning reporter, dives into the fascinating world of the FIRE movement. She shares captivating stories from Camp Mustache, where attendees reveal their extreme saving strategies, from living on ramen noodles to doubling up jobs. Meera discusses the core principles of FIRE, including the 25x expenses rule, while also examining the emotional trade-offs and community bonds that help support these ambitious goals. Tune in for practical takeaways that inspire a re-evaluation of financial priorities!
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Multimillionaire Who Lives In A Van
- Chad retired at 35 after a high‑paying tech career and now lives in a van while owning rental property.
- He says quitting let him be present and focus on relationships instead of the rat race.
Target 25x Expenses And Use The 4% Rule
- Build a nest egg equal to roughly 25 times your annual expenses to aim for financial independence.
- Withdraw about 4% annually as a rule to try to make savings last a lifetime.
FIRE Savings Far Exceed National Average
- FIRE savers commonly save 50–70% of income, vastly higher than typical households.
- StatsCan showed Canada's household savings rate was about 5% in Q2 2025, highlighting how extreme FIRE saving is.