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If you’ve been following the FIRE movement (financial independence, retire early), you probably already know that early retirement is a fundamental component.

When I first started pursuing FIRE with my partner, I had no plans to retire early. I figured I’d achieve financial freedom, but would likely continue working in my career for many years.

After my boys were born, my perspective changed. While I know that I won’t be ready to retire any time soon, it is something that I’m passionate about pursuing.

In this article, I’m going to tell you how I plan on getting to the “retire early” portion of the FIRE method. I’ll also tell you what I’ve achieved to date with FIRE, and what I have planned when I eventually choose to retire early.

My Early Journey to FIRE

In earlier posts, I talked about how I started my journey to a FIRE lifestyle, and what I plan on doing when I achieve the rest of my financial goals. Here are links to those posts if you want to hear this portion of my story:

My Journey to a FIRE Lifestyle

I Want to be a Mad Fientist: 10 Activities I Plan On Enjoying in FIRE Retirement 

What I haven’t talked about yet (and will be covering in this post) is how I plan on achieving the rest of my FIRE goals, including the “retire early” part.

But first, a quick recap on what I’ve achieved to date by following the FIRE method.

What I’ve Achieved to Date with FIRE

FIRE has immensely helped my partner and me achieve our most ambitious financial goals. 

We’ve become substantially more financially free and have achieved the following:

• Paid off student debt
• Maximized the incomes in our careers
• Successfully navigated job losses (without acquiring massive debt)
• Made successful career changes (without going into debt)
• Paid off cars early
• Increased our net worth and built significant equity
• Acquired the freedom and flexibility to ask for what we want out of employers (like requesting a reasonable accommodation for a disability)
• Invested significantly in our retirements and personal accounts
• Started businesses
• Turned a side gig into a full-time career
• Increased our travel

How I Plan to Retire Early with FIRE

I don’t know if I’ll be ready to retire early in a few years, or in the next decade, but I do know what our lives will look like when I’m ready.

Regardless of the timeline, here’s what I plan on doing to prepare to retire early:

• Pay off remaining debt (only 1 car and our house remain)
• Acquire enough investments that we can apply the 4% rule and maintain our current standard of living
• Maximize our retirement accounts
• Acquire at least one vacation rental property to supplement our income
• Move to a house with a larger yard outside the city (to support our growing family) and pay it off
• Have enough yearly income (via our investments) to fund our travel goals

Ultimately, we’ll need to continue living well below our means and acquire enough investments to retire early.

What I’ll Do After I Retire Early

I’ve put a lot of thought into the things I’ll do when I retire early, though I don’t think I’ll fully retire, at least not in the traditional sense. 

To me, it’s more of a way to take a temporary retirement and spend more time with my children. I might also use this additional freedom to pursue a new passion.

Here’s what I have planned so far:

• Spending more time with my children
• Adventuring with my partner
• Traveling
• Spending more time with family and friends
• Spending time on relaxing self-care activities
• Spending time on active self-care activities
• Personal ambitions (like growing another business)
• Volunteering
• Networking
• Learning

You undoubtedly have different priorities, but perhaps my list will give you some new ideas to explore as you plan your financial goals.

Conclusion

Do any of my “retire early” goals align with yours? Or do you have an entirely different perspective on what you’d like to do with your financial freedom?

Tell me about your goals in the comments below. And if you ask for feedback, I’d be happy to share some advice to support your current circumstances.

I look forward to hearing your story. Best of luck on your FIRE journey!

Think achieving the “retire early” portion of the FIRE movement will FIRE Your Life? Check out the posts page for more ways you can FIRE Your Career and achieve financial freedom.

FIRE Your Career: Achieve Financial Freedom Through Your Career & Spend MORE Time Doing What You Love.

Tools I frequently recommend:

Strengths Finder (book to help you uncover your innate strengths, includes a free personality quiz)

ClickUp (my recommended goal-tracking and project management tool)