Here’s How Francis Retired Early at 37 with $1.2 Million

Is FIRE worth it?

Financial Independence, Retire Early (FIRE) is a movement of people devoted to a program of extreme savings and investment that aims to allow them to retire far earlier than traditional budgets and retirement plans would permit.

But what happens if you push a little too hard? Is it worth it?

This is the story of Francis who did push a little too hard and ended up retiring at 37 with $1.2 million in the bank.

Here’s how he did it.

Be Ready for This

Francis says that to do what he did, you need to accept the fact that it’s going to be uncomfortable. You’ll need to push hard, and it probably won’t feel very nice.

The other thing is that you’ll need to change your habits (and this is where most of the people will fail). You have to become VERY frugal. At one point Francis chose to not even own a cellphone and used an iPod Touch to get by. He even advices to not buy things that expire or can get destroyed over time. This’ll help save money.

Sure, you can relax once you get closer to FIRE, and maybe not push too hard, but there’s no denying that the beginning will be brutal.

Criteria to Quit, Motivation to Retire

One of the Criteria for Francis to quit was that he should’ve paid off his house because that would give him financial stability and retain his peace of mind.

His motivation to retire is that he wanted to be his own boss and spend time doing what he wanted. He started his YouTube channel back in 2014 and it’s his main source of income now.

How He Did It

Here’s what Francis did and suggests everyone to do:

1. Save almost everything for retirement
2. Max out all of your 401k(s)
3. Since he’s self-employed now, he contributes to a SEP-IRA
4. Use too many credit cards and churn them
5. Churn investment accounts
6. Churn savings accounts
7. Try to achieve a high credit score

Day in the Life

Now that you know how Francis made his millions and retired early, here’s what he does with his time:

1. Wakes up whenever he wants (sometimes at 6AM, and sometimes at noon)
2. Follows a 2-day schedule-

a.) Day 1 is for thinking up ideas for his YouTube channel

b.) Day 2 is recording and editing

3. He has cut down his working hours by 25% of 40 hours

4. Watches movies and documentaries, driving range, drone flying, backpacking and hiking

5. He has completed his entire bucket-list

“Most people don’t want to retire early, they just don’t like their careers” — Francis

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