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☆ 5 millennials who are on their way to financial independence share why they have no intention of retiring early
  + stars: | 2024-05-23 | by ( Noah Sheidlower | ) www.businessinsider.com   time to read: +8 min
October, a speech-language pathologist for New York City Public Schools, started her journey toward financial independence a few years ago. October is one of many millennials who are working toward achieving financial independence, one of the main goals of the FIRE — financial independence, retire early — community. Some millennials who successfully achieved financial independence told BI that a traditional retirement is overrated. Advertisement"The whole time I've been thinking in terms of my financial independence as what I call single-player mode. She sees financial independence as an extension of her drive to fulfill passion projects.
Persons: —, Shelly, she'll, she's, She's, millennials, They're, Scott Rieckens, Millennials, Oz Chen, he's, Oz Chen He's, hasn't, I'm, Chen, Gabriela Ariza, Ariza, David, Jill Pawley, Jilly Pawley, they'll, they've, It's, Jill Organizations: Service, New York City Public Schools, Business, Neighborhood Assistance Corporation of America Locations: Yonkers, New York City, Los Angeles, Illinois, Chicago, Rockford, Haiti, Michigan
☆ Millennials have a fresh take on the FIRE movement, and it's less about taking it easy in retirement
  + stars: | 2024-05-18 | by ( Noah Sheidlower | Kathleen Elkins | ) www.businessinsider.com   time to read: +12 min
BI spoke to a dozen millennials who have achieved or are on track to achieve financial independence. Brad Barrett, the host of the "ChooseFI" podcast, said "vanishingly few" people with the wherewithal to reach financial independence are retiring early. AdvertisementHe argued that achieving financial independence and hitting a specific number is "the simplest part." Advertisement"I defined myself by the pursuit of financial independence," Sabatier, the author of "Financial Freedom," said. Don't delay figuring out what you really want, why you're pursuing financial independence, and what you want to do after."
Persons: Jace Mattinson, Mattinson, Jace Mattison, Jace Mattison Mattinson, Motley, they're, Millennials, millennials, Scott Rieckens, Brad Barrett, you've, Bill Schaninger, Naina Dhingra, Schaninger, Mitch, —, Brian Luebben, Grant Sabatier, Sabina Horrocks, She's, she'd, Michelle Schroeder, Gardner, Wes, I'm, Lauren, Steven Keys, Steven, you'll, We're Organizations: he'd, Business, FIRE, Facebook, McKinsey, FI, Academy, Marketing Locations: Austin, Minnesota
☆ Supersaver who stashed 78% of his salary has one regret: 'We might have been too extreme, tipping into misery'
  + stars: | 2023-08-31 | by ( Ryan Ermey | ) www.cnbc.com   time to read: +2 min
He and his wife Taylor were living an upwardly mobile lifestyle in San Diego, but it turned out their budget was upwardly mobile, too. "We lived in a beautiful beach town, drove a BMW, dined at high-end restaurants and often indulged in expensive hobbies. Essentially, as our income increased, so did our spending," Rieckens, 39, tells CNBC Make It. At first, the couple went full-throttle, even going so far as to briefly move in — with a brand-new baby in tow — with Rieckens' parents in Bellvue, Iowa. "Looking back, we might've been too extreme, tipping into misery, not from deprivation but the unending focus on finances," Rieckens says.
Persons: Scott Rieckens, Taylor, Rieckens, you'll, — Organizations: BMW, CNBC Locations: San Diego, —, Bellvue , Iowa
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