Why You Should Start Saving For Retirement Right Now!

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Yes, you! Yes, right now! Maybe you don’t think you can afford to save for retirement. Maybe you’re still young and think you have plenty of time before you have to worry about retirement. Maybe you don’t plan on ever retiring. Let me tell you why you should be saving now anyway. This is especially for you young folks, like me. According to the U.S. Government Accountability Office as of 2016, average Americans between the ages of 55 and 64 have about $104,000 saved for retirement. If you’re using the 4% rule, that translates to only $4,160 per year or …

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How I Save Almost 40% of My Income Before I Even Get Paid

How I Save Almost 40% of Income Before I Even Get Paid

The day I was hired full time at my company I inquired about setting up 401k contributions, which I wasn’t eligible for as an intern. Once I secured my role as a Research Associate in 2013, I started contributing 3% of every paycheck to the account. As I got further and further into the realm of financial independence, I realized I could contribute more and kept increasing my contribution percentage as I felt I could. Every raise went straight into the account. In 2015, I was able to contribute the maximum amount ($18,000) to my 401k. I am on track …

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Welcome to The Fire Drill

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Hi everyone! I’m glad you’re here. Recently it’s come to light that I am a heavy saver that plans to retire early. Not just 5-10 years early, but in my 30s early (hopefully). I will be chronicling my journey here. Why The Fire Drill? Well there’s a whole community around financial independence. We typically refer to “Financial Independence, Retire Early” as FIRE. Here, I’ll show you everything I’m doing to get there as quickly as possible. I hope that you are inspired by my journey, learn from my mistakes, and join me on the FIRE path. Thanks for reading!

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