Retiring earlier than 60 years old can sound like a pipe dream. But there are some who have completed this incredible financial feat. I was lucky enough to chat with a couple who retired in their 40's and were willing to share their best tips to retire early.
Dylin Redling and Allison Tom are the bloggers behind Retire by 45 and co-authors of the new book “Start Your FIRE: A Modern Guide to Early Retirement“. This Northern California-based couple said goodbye to traditional employment after achieving financial independence through investing in the stock market and real estate.
Dylin and Allison join me today to answer a listener's question on early retirement and how it can be possible for them too. Here's the listener's (Nate) question:
“My wife and I are interested in FIRE but we don’t have the income to make it happen. We both have 9-to-5 jobs, 2 kids and a lot of life's expenses. Do you have suggestions for increasing our income so we can make FIRE possible for us earlier than our 60’s?”
Listen to what Dylin and Allison had to say to Nate and their tips to retire early.
What are we covering?
Dylin, Allison and I review the following:
- Why controlling your expenses helps you retire early
- How to make more money on your FIRE journey
- What they have done in their last 3 years of early retirement
For those of you who have been long time listeners, you may remember that we interviewed Dylin back in 2017 about how he retired by 43 in Northern California. Check out that episode and enjoy this one too!
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Dylin Redling & Allison Tom RESOURCES
- Book: Start Your FIRE: A Modern Guide to Early Retirement
- Website: RetireBy45.com
- Social: Twitter
MKM PODCAST RESOURCES
- Thriving Families Facebook Group: Join our new FREE Facebook Community!
- Young Family Wealth Playbook (FREE): 7-Steps to Solidifying Your Family’s Future Wealth
- One-on-One Coaching: Schedule your FREE 15-minute discovery call with Andy to help you on your Young Family Wealth journey!
CARPE DIEM QUOTE
“How wonderful it is that nobody need wait a single moment before starting to improve the world.”― Anne Frank
What do you think about about these tips to retire early? Are you pursuing FIRE?
Please let us know in the comments below.