How to Reach FIRE Based on Your Income ($45K - $100K/Year)

Oct 1, 2024

Explore the journey to financial independence across different income brackets. Discover strategies to boost income through side hustles, while avoiding lifestyle creep even at higher earnings. Learn about the best investment options tailored to your career path and income level. The hosts discuss maximizing retirement accounts and using financial tools to enhance savings. Whether you're starting with $45K or earning up to $100K, the actionable steps shared will guide you toward achieving FIRE faster!

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ADVICE

Maximize Retirement Savings

Prioritize maxing out your Roth IRA, especially at a younger age, for tax-free growth.
Explore company 401k options and take advantage of any employer match.

ADVICE

Aggressive Savings and Income Growth

If you're earning $45,000, aggressively cut expenses and stockpile cash.
Focus on increasing income via career pivots, side hustles, or house hacking.

ANECDOTE

Spending Habits

Mindy recounts stories of people hindering their financial progress with excessive spending habits.
She emphasizes conscious spending choices aligned with needs over wants.

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