Episode #625
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You may not make six figures, but you want to achieve FIRE and retire early. You might be struggling to get by, let alone saving and investing to hit your FIRE number. If it seems impossible, you should take a page from Bryce Stewart’s book. He was a sixth-grade school teacher, making $44,000/year, underwater on his condo purchase, worrying about the bills with one baby and another one on the way. A decade later, he was retired, with more passive income than he could spend. Today, we’re sharing how he did it.
Your income is NOT the limiting factor to you achieving FIRE, no matter how much it seems that way. Bryce took a slow and sacrifice-heavy path to early retirement and now makes more than 300% of the combined income of his and his wife’s teacher salaries. He was frugal without a doubt, but focusing on income-generating opportunities is what really slingshotted his net worth, passive income, and FIRE timeline.
So, what money move should you make RIGHT now to turn your median salary into investments that pay you passive income every month? What sacrifices should you be making to put your family in a FIRE financial position? What was the one purchase that launched Bryce’s path to FIRE? Whether you’re making under, over, or around six figures, you can retire earlier by taking Bryce’s advice.
00:00 Intro
01:20 Buying Right Before the Crash
06:39 FIRE without Six-Figures?
09:07 You Can Do THAT?!
18:00 House Hacking with 3 Kids
27:45 FIREd with 100% Time Freedom
35:02 The Sacrifice for FIRE