LogFAQs > #930967476

You mean the FIRE (financial independence, retire early) movement? Yeah, it sounds cool, but hard to do (and very dependent on where you want to live). Aside from index funds, you can do things like write a book, offer an online course, make YouTube videos, or whatever. The biggest part is, of course, living frugally.

Typically, that means not buying a lot, not going out to eat, using things for as long as possible (typically big ticket items like phones and cars), not Netflix and chilling, and maybe not even chilling (unless your SO is into it too). But that's like super extreme. If you want to include any of that, you just have to save a bit more.

There's also ROTH laddering. I don't know if you've heard of that. It's basically converting a bit of your 401k into a ROTH every year (and you can withdraw the principal after 5 years without penalties). If you convert to ROTH every year, the 5 year mark occurs every year, for a different principal amount. If you're "really good" at it (but really who can predict this stuff), the 401k should be making more money than what you convert each year.
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