I’m Olivia, a 25 year old woman living in New York City.
I discovered the Financial Independence Early Retirement (FIRE) community in 2017 and realized I could retire at 30 if I worked hard. If other people can retire early in their 20s and early 30s, so can you.
This blog allows me to practice my writing skills, but my real expertise lies in programming and spreadsheets, so I created an 18 day free personal finance course, complete with an awesome spreadsheet that optimizes your expenses in every category you can imagine. I advise every reader to start here so they can make sure they understand the basics. I’ll send you an email a day on a micro-topic. It’s free because I believe everyone should have access to personal finance knowledge. Sign up below or check out the exact roadmap here.
I think a lot of people don’t realize how much daily vices are costing them in terms of savings. Myself included for a while too. Eating out all the time, buying coffee at Starbucks, clothing consumption, subway/car expenses all add up to years off of your early retirement date. If you hustle and save, I firmly believe you can retire in less than 10 years.
Don’t worry though, it doesn’t mean you can’t have all your nice luxuries. We fly business class for $6 (yes six dollars) due to travel hacking — see our Japan trip and our Bali trip. We eat at fancy restaurants for free, but are also willing to pay $350 for a meal if we can’t figure out how to hack it. You can even get luxury clothing new with tags for 90 percent off. All you have to do is understand the secondary luxury market.
When I told my best friend I could retire at 30, she didn’t think I would actually retire, and I don’t think I will either. But I’ll be financially independent enough to do anything I want.
I can join a startup that pays less than the market and not worry about it blowing up, work at or start a non-profit, or just spend time with my kids and travel around the world. I’d like to become Mikey Chen and just travel the world vlogging about food and places. I’ll be able to get those cheap last minute fares in the middle of the week. Maybe even one of those first class redemptions that Lufthansa seems to only open 9 days prior to departure.
The point is that once you build up a nest egg that is 25 times your annual expenses, you can do anything you want. Forever. You have the freedom and optionality to do anything. Sacrificing a few years of harder work and higher savings is worth it. It’s always better to flex your frugality muscle early on in case something in the market goes wrong.
Feel free to reach out, I love engaging with my readers! Please note, I am not a professional. Just happy to give my opinion.
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Olivia worked in finance and wants you to learn the secrets of financial independence. She believes there are so many ways to monetize your life and make money doing the things you're already doing because so many companies offer free money.
The average savings account rate is 0.1%. The big banks have incredibly low savings accounts rates. CIT Bank offers a 1.75% savings account. You can open an account with just $100 and no monthly fees or charge . Tired of being charged fees and getting peanuts in interest at your current bank? Open a CIT Bank savings account in less than 15 minutes online.
If you have a car, Rideshare apps allow you to pick a direction you want to go twice a day, so you can get extra money going somewhere you were driving to anyway at least twice a day. Get a $300 sign-up bonus with Lyft.
One of my favorite ways ways of monetizing my life is via credit card bonuses with cards that give you cashback or rewards. Check out our review of the Chase Sapphire cards, which give you at least $500 in cash or $625 in travel credit.