Retiring Early: Is It Really Possible?

If you have ever sat in your car before a shift, dreading the next twelve hours and wondering, How much longer do I have to do this?, you are not alone.

Most of us were told that retirement happens at 65. That we work for four decades, hope we have enough saved, and then finally get to enjoy life. But what if that is not the only way? What if you could retire sooner?

The real question is not when can you retire, but how can you make it happen sooner. The answer comes down to one thing, your freedom number.

Step One: Calculate Your Freedom Number

Your freedom number is the amount of money you need invested to cover your expenses for the rest of your life. A simple way to estimate this is the 25x rule.

• Take your annual expenses and multiply by 25.

• If you spend $50,000 per year, you would need $1.25 million invested.

This number is based on the 4 percent rule, which suggests you can safely withdraw 4 percent of your investments each year without running out of money.

Step Two: Track Your Spending and Reduce What You Need

The less you need to live on, the less you need to save. If you do not know how much you spend every month, start tracking it now. Look for areas where you can cut back.

• Can you lower housing costs by moving or house hacking?

• Can you meal prep instead of eating out every shift?

• Can you negotiate lower bills or cancel unused subscriptions?

Every dollar you save is a dollar that does not need to be replaced in retirement.

Step Three: Save and Invest the Right Way

You cannot save your way to retirement, you must invest. Money sitting in a savings account will never grow fast enough to allow you to retire early. Instead, focus on these investment accounts:

• 401k or 403b. If your hospital offers a match, contribute at least enough to get the free money.

• Roth IRA or Traditional IRA. These accounts offer tax advantages to grow your money faster.

• Taxable Brokerage Account. No contribution limits, and you can access this money anytime without penalties.

The goal is to build a portfolio of investments that grow over time and eventually replace your paycheck.

Step Four: Choose Your Path to Early Retirement

Not everyone wants to fully retire in their 40s or 50s. The good news is there are different ways to achieve financial freedom.

• Lean FIRE. Retiring early with a lower budget and minimal lifestyle expenses.

• Fat FIRE. Retiring early while maintaining a higher standard of living.

• Coast FIRE. Investing aggressively early, then letting compound interest grow your money while you scale back to part time work.

• Barista FIRE. Leaving full time nursing but working a lower stress job for health insurance and extra income.

The key is to figure out which path works for you and build a plan around it.

Step Five: Keep Making Progress

Retirement is not about age, it is about numbers. Every investment, every extra payment toward debt, and every smart money decision brings you closer to financial freedom.

You do not have to wait until you are 65. You do not have to feel stuck. You just need a plan, and you need to start now.

Your future self will thank you.

Disclaimer: This content is for informational and educational purposes only and reflects my personal experiences and opinions. It is not financial, investment, or professional advice. Please do your own research and consult with a licensed financial professional before making any financial decisions.