FI/RE Diaries: A teacher living in South Texas and FI/RE-ing by 50 with $1M
/
Occupation: I am a teacher looking to pivot into a different career
Industry: Education
Location: South Texas
Salary: $50k/year
FI/RE Number: $1M (or less)
Years Until FI/RE: My goal is to reach this by the time I am 50
Current financial situation: SINK. I have about $11,000 in debt. This includes student loans as well. I used to pay minimum on my credit cards not realizing how much interest was adding up.
Ethnicity: Hispanic/Latinx
How did you first hear about FI/RE?
I first heard about FIRE through Yo Quiero Dinero Podcast
Why do you want to reach Financial Independence/Retire Early?
I want work to be optional and be able to travel any time of the year. I also want to help out my family financially.
What does FI/RE mean to you?
FI/RE means the option to work or not. I have had jobs the left me mentally and emotionally exhausted. Working until 65 for someone else is not a way to live. My life would change by having more freedom to live my most authentic life.
How much do you spend per month? Save per month?
I spend about $2,400 per month and save $400/month.
Are you doing anything to achieve FI/RE faster? If yes, what?
I’m cutting spending, budgeting, minimalism, learning new skills to increase my income either through side hustles or a new job.
Any advice you'd give to someone who has a similar FI/RE lifestyle as you, especially if it seemed hard or unattainable?
I would say to look for ways to increase income while minimizing how much you spend per month. Making a solid plan and making connections with others in this community also helps.
Favorite FI/RE resources you’d like to share?
Disclosure: Some links are affiliate links, meaning, at no additional cost to you, I may earn some compensation. All opinions are 100% my own! I truly appreciate you and your support. :)
