A Colorado couple with a net worth of $800,000 shares how the FIRE movement is helping them reach their goal of retiring in their 40s

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A Colorado couple with a net worth of $800,000 shares how the ***** movement is helping them reach their goal of retiring in their 40s

The ***** movement has helped Chrissy Arsenault and her husband Ryan grow their combined net worth to $800,000. Chrissy Arsenault

Chrissy Arsenault and her husband, Ryan, didn’t

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. To get ahead financially, they’ve long known that a combination of “hard work and frugality” would be necessary, Arsenault told Business Insider via email.

So when the couple learned about the

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in their mid-20s, it was music to their ears.

***** is an acronym for “

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.” Generally, people who’ve embraced the ***** movement want to grow their savings so they can achieve

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and

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— though some people

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. To accomplish their goals, some ***** advocates

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, take on

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, or delay costly life milestones like

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. Many ***** advocates trace the movement’s philosophy to the 1992

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“Your Money or Your Life.”

To learn more about the ***** movement, in particular strategies for maximizing savings and reaching financial independence, the couple sought out *****-related

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videos,

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groups, newsletters, and podcasts. They then tried to apply some of that information to their financial strategies.

Their efforts have paid off.

Over the past several years, the couple has grown their combined net worth to more than $800,000, according to documents viewed by ***. Arsenault said their goal is to grow their investments to roughly $2.5 million over the next 10 to 15 years — which she hopes will allow them to retire before she turns 50. Both she and Ryan are in their early 30s.

“Retiring at 65-plus years old just doesn’t sound appealing,” said Arsenault, who works as a marketing director and is based in Colorado. “I’m sure we’ll still be active and healthy at that age, but there’s a lot more that we can enjoy when we’re in our 40s and 50s.”

As many Americans

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— and many retirees feel they don’t have enough to

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— the ***** movement has offered a

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for people who ******* financial security. While some people have found success with *****, it hasn’t been a

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for everyone, in part because it can require significant savings goals that might not always be realistic. However, ***** proponents live a

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. And experts say some principles of ***** — like the benefits of

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at a young age to take advantage of

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— are applicable to a wide audience.

Story continues

Arsenault shared her and Ryan’s top strategies for growing their savings — and the one change to their lifestyle that could make an early retirement a bit more difficult.

How to live a ***** lifestyledata:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

The couple has utilized a variety of strategies to reduce their expenses and boost their incomes. Chrissy Arsenault

Arsenault summed up the couple’s financial strategy as “spend less, make more, and invest more.”

To spend less, she said they’ve reduced how much they

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at restaurants, bought in bulk from

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, planned their own vacations rather than using travel agents, avoided gym memberships by working out at home, and limited alcohol consumption.

They’ve also postponed certain expenses to save some extra cash.

“I went many years with a broken phone screen and really didn’t mind,” she said.

To make more money, Arsenault said they’ve “aggressively pushed for additional income.” For Arsenault, this has taken on the form of “climbing the corporate ladder” — she said she landed a six-figure salary at age 26. She also started a side hustle working as a

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, something she focuses on during evenings and weekends.

Ryan works full-time as a human resources professional. In his spare time, Arsenault said he focuses on managing the couple’s three investment properties which provide them with

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. The couple’s combined taxable income was roughly $250,000 in 2023, according to a document viewed by ***.

When their strategies generate extra money, the couple invests as much as possible in their 401(k) plans and

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.

In case of emergencies, the couple keeps about six months of funds in savings.

Arsenault said saving money was easier when she and Ryan lived in Indiana. The couple relocated to

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during the pandemic, a few years into their ***** savings journey.

One of the biggest differences between the two states has been the housing costs, Arsenault said. The couple is based in Monument, Colorado, where the average home value is about

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, per Zillow. In Fishers, Indiana, where they used to live, the average home value is

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.

In the years ahead, one lifestyle change could put some additional pressure on the couple’s finances: They’re expecting their first child, which they know will come with many

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.

However, Arsenault said she thinks her financial goals are still achievable, in part because she and Ryan have been planning for life with a newborn. They’ve even planned how to finance their child’s potential college education.

“We’ve started to save up for his

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so that they can attend college,” she said, referring to the investment account that offers tax-free withdrawals when the money is used for certain education expenses.

Are you part of the ***** movement or living by some of its principles? Reach out to this reporter at *****@*****.tld.

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#Colorado #couple #net #worth #shares #***** #movement #helping #reach #goal #retiring #40s

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