Do you plan to retire at 35 or 45?
Do you need a small apartment in the city or a big house in the country?
What kind of lifestyle do you like?
What luxuries can you give up and which are the ones you can’t live without?
Do you plan to have a family or live alone?
Whatever your goals, it helps to write them down to define for yourself what “financial independence” means or what makes for “retiring early.”
For Francis, a 21-year-old student at University of California, Berkeley, and an aspiring FIRE follower, setting goals has helped him prioritize his life. His main goals include finding a well-paying job in the tech industry, building an emergency fund and saving for a rental property in the future.
He first became interested in the movement when his dad and grandfather told him to invest his birthday money. He was 15. "I realized this is a real viable way to make money work for you, [rather] than to work for your money," he said.