Amberly, a 34-year-old member of the FIRE (Financial Independence, Retire Early) community, values financial freedom. She achieved financial independence in 2022, primarily through disciplined saving and real estate investments. Despite a recent increase in expenses due to having a child and supporting her partner through a visa situation, she still saves nearly 70% of her income. Her current assets include various accounts totaling $219,000, and she could technically retire now with $40,000 yearly expenses. However, her drive for more financial security leads her to plan to work for an additional 3-5 years, aiming to accumulate $750,000 in liquid savings. Amberly's ultimate goal is not early retirement but the freedom to enjoy life on her terms, which includes family time, travel, and financial flexibility.
Here are the key facts extracted from the provided text:
1. The speaker, Amberly, is part of the FIRE (Financial Independence, Retire Early) community and values financial freedom.
2. Amberly achieved financial independence in February 2022.
3. Her early income ranged from $13,000 to $20,000 a year.
4. She was able to save money by keeping her expenses low, spending only $1,300 a month.
5. She now spends about $3,400 a month due to the recent birth of her child but still saves almost 70% of her income.
6. Her current financial assets include multiple accounts with substantial balances, such as 401(k), taxable brokerage account, Roth IRA, HSAs, and more.
7. She estimates that she could retire now with $40,000 per year in expenses.
8. Amberly plans to continue working for the next 3 to 5 years and save more money for early retirement.
9. She used real estate investments to accelerate her path to FIRE.
10. Despite her financial success, she has a scarcity mindset due to a childhood of financial insecurity.
11. Amberly didn't follow a traditional path but pursued becoming a millionaire.
12. She made substantial progress in her career, earning $52,000 per year.
13. She also invested in real estate properties for additional income.
14. Amberly had to use a HELOC to fund a down payment on one of her properties but paid it back within a year.
15. Amberly discusses her goal of achieving financial freedom rather than complete retirement.
16. She envisions a life of flexibility and freedom in her future.
These facts provide a summary of Amberly's financial journey and her approach to achieving financial independence.