How I Saved $380K By Age 29 To Retire Early | Fired Up

Super-saver Tanner Firl, 29, has saved close to $380,000 for retirement. He is part of the FIRE — financial independence, retire early — movement and has achieved his savings almost entirely through frugality. He estimates he is in the top 0.1% of most frugal people.

About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.

Connect with CNBC Make It. Online

#CNBC
#CNBCMakeIt

How I Saved $380K By Age 29 To Retire Early | Fired Up

[rrandd]

I am fortunate to have $100k saved by the age of 23 without venturing into stocks. Now, I want to invest safely for growth in the next 3-4 years to buy a home. What's the best strategy?

[AngelWilliam-vgrw]

I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024

[CrystalJoy-]

The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.

[Adrianaluca-umny]

I'm in my 50s and I'm more interested in investments that could set me up for retirement, I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?

[RhondaArmstrong-yd]

Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.

[WalterDorcas]

Great video, The first $100, 000 invested was amazing. But when you hit $300, 000 it’s like smashing the glass ceiling! I cried.

[barttfisher]

Thinking about retirement idnt ideal for me right now.I apologize to everyone who is retired and filing social security after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.

[nuttawut]

Achieving success hinges on the steps you actively take toward it. Accumulating wealth involves cultivating positive habits, such as consistently setting aside money at intervals for robust investments. Financial management, often avoided by many, can later become a haunting issue. My hope is that anyone reading this finds success in their journey!

[joshua]

Living on 25k a year with a whole family is gonna be rough. Imagine the things those kids won’t be able to do because the dad wants to be frugal. I am working toward being fiNancially free very soon, but this sounds like a financial prison

[ebsii]

Mark Zuckerberg if he didnt invent facebook

[tonysilke]

Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?

[cloudyblaze]

Wow. This is great. Pretty much what "The Millionaire Fast Lane" by MJ DeMarco teaches. It's hard to build great wealth from conventional advice.I had only $78k to my name at 42 when I first woke up to this reality. I chose the stock market as a medium of growth, got an excellent financial advisor. It's been almost six years now, and I'm a couple thousands shy of a million. Great job doing the same at 29, Tanner.

[Randompotatoes-qsbm]

‘Dad why are we eating beans again😢?’

Because FIRE son!

[cmichole]

I'm all for frugality and I'm definitely a saver but I've seen too many people die younger than me and I refuse to live life without enjoying it. Money never followed anyone to the grave. I just find ways to get what I want for less sometimes. Like using points to travel and clipping coupons where I can or waiting for my favorite shoes to go on sale. But I will buy a $300 bag if I want to as well.

He seems happy with his lifestyle, it's just not for me. I'm glad he's working through his anxiety surrounding money. Shout out to him for what he's accomplished so far.

[NickVetter]

I understand wanting to be financial independent, but people should not have to feel like they need to live like this.

[andrewe.]

So he makes $135k a year and goes to a food pantry to take food from people that might actually need it? What a hero.

[julianbussells]

Me: "I'm 27 and nowhere near saved up to $380k, how on Earth did he do it?"

*Sees he makes $100k more than I do*

[sherryie]

I admire the financial independence of people, But you can live better if you work a little more. After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early. To each their own but to me retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc. I don't think I could retire with less than $3m in income generating investments, maybe $2m at the very minimum. I plan to work until I'm at least 45.

[lowbudgetpokemon]

very wholesome family and video. I used to live his kind of life- extreme frugality while making 6 figures. After saving enough, I opened up and started living life a bit more.

[charliehunnam]

Honestly, I'm not in any event kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it, Investing is a long-term game, so I try to focus on the long term.