After reading about a fellow yesRetired person online (the Or family), who mentioned their success using the “FIRE” (Financial Independence Retire Early) philosophy, I realized that we had sort of accidently applied some of the techniques without knowing about it!
The essence of it is to take a high percentage of your high income earning years and invest it in growth oriented investments, that are managed closely, while living a more frugal lifestyle than your income might otherwise allow for. Then retire to live off that nest egg, drawing minimally from it.
There seem to be two kinds of people in our world. Some are inclined to collect “stuff”, others like us are happier collecting experiences. The FIRE philosophy is best suited to the experience collectors.
FIRE family – the Or’s
This family has been happily traveling extensively in their small RV, through USA, Canada and Mexico. They have and extensive blog on their travel experiences, and the details related to their $250K five year budget
FIRE investment philosophy
Here’s an article that gives a good overview of the concept at Investopedia: