Is it possible to FIRE as a single person?
Want to have financial independence as a single person but not sure how? On this Queer Money® podcast, we discuss how to get FI/RE as a single person. Make financial independence easier by paying off high-interest rate credit card debt. For help specifically with paying off credit card debt, get the free 7-Step Credit Card Debt Slasher.
You can FIRE without a partner
While it might seem easier to achieve financial independence and retire early if your household has two or more incomes, the fact is that single people can and do reach FI. In some ways, it’s actually easier for singles to join the FIRE movement.
Jeff Underwood is the creator of Homo Money, an LGBTQ personal finance blog where he spills the tea on money ‘so it ain’t boring AF.’ Jeff also happens to be a single gay man who’s achieved financial independence and is set to retire at 55.
On this episode of Queer Money®, Jeff joins us to share his struggle to find a job during the Great Recession (right after his Honorable Discharge from the Navy) and discuss the steps he’s taken to build a net worth of $750K since then.
Hear from Jeff Underwood about creating FIRE as a single person:
- Jeff’s struggle to find a job in 2007 after his discharge from the Navy
- Why it’s crucial to surround yourself with positive messages about money
- Jeff’s advice for young queer kids who feel financially hopeless
- How Jeff got involved in the Financial Independence Retire Early movement
- The steps Jeff took to build a net worth of $750K and achieve Coast FI
- Jeff’s long-term plan to retire at 55 with Fat FIRE
- What it looks like to achieve financial independence as a single person
- The advantages single people have when it comes to achieving FI
- Why it’s more challenging for couples to FIRE if their goals are not aligned
- How Jeff developed the idea behind Hustle Own Money Opulence
Resources from this episode:
- 7 Different Types of FIRE on Queer Money® EP285
- 7-Step Credit Card Debt Slasher
- Queer Money Podcast on Facebook
- Queer Money Podcast on Twitter
- Queer Money Facebook Group
- Queer Money on Instagram
- Debt Free Guys on YouTube
- Subscribe on iTunes
- Email [email protected]
Previous 3 Podcast Episodes
- 7 Basics You Should Know about Annuities
- 7 Ways LGBT Personal Finance Is Different
- How to Say No to Friends When You Have Goals
We’re David and John Auten-Schneider, the Debt Free Guys (www.debtfreeguys.com) and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs and 3) save and invest for retirement.