A 30 year old high school teacher living in Queensland, Australia and FI/RE-ing in 15 years with $1.5M
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Occupation: High school teacher! It's a brilliant job for FIRE because of the 12 weeks' paid leave each year
Industry: Public Education
Age: 30
Location: Queensland, Australia
Salary: $95k/year
FI/RE Number: $1.5M
Years Until FI/RE: 15-20. I think I'll be aged 45-50, but I want to be part-time from age 35 after I start a family
Current financial situation: I'm a SINK... But live with my partner & we'd like kids one day, so we'll be DI1K or DI2K one day. But that's built into my FIRE number already (so, I'm planning on saving enough for the 2 of us + kids).
Ethnicity: White
How did you first hear about FI/RE?
I started reading Mr. Money Mustache's blog in 2011/2012 while I was still at uni. It gave me a strong foundation before I'd even started working full-time at my teaching job.
Why do you want to reach Financial Independence/Retire Early?
I want to work part-time after having kids. And I'd like to move to a location closer to my aging parents.
What does FI/RE mean to you?
I want the choices the freedom brings. I don't want to be strapped to a particular location of a M-F job my whole life.
How much do you spend per month? Save per month?
I spend $3k on average per month ($36k per year) and save $38k per year.. just over a 50% savings rate after tax.
What is your % savings rate?
51% after tax
Are you doing anything to achieve FI/RE faster? If yes, what?
The two biggest ones got me started early: house-hacked for 6 years by living in a cheap, rural town & I was car-free until aged 27. They built me a firm foundation & now I have to sacrifice slightly less.
Any advice you'd give to someone who has a similar FI/RE lifestyle as you, especially if it seemed hard or unattainable?
Little bits add up. Play around with a compound interest calculator to see how those little bits add up over time.
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