I'm a 44-year-old small-business owner. I've never made $100,000 in a year, and I'm still on track to retire by 50.

Sarah Lesselbaum started her financial independence journey when she 38.

Shubhangi Goel/Business Insider

• Sarah Lesselbaum joined the Financial Independence, Retire Early movement in 2018.
• Last year, she made over $70,000 by working par...

  The Path to Financial Independence and Early Retirement

  Embarking on the FIRE Journey

  Sarah Lesselbaum, a Gen X woman in her mid-forties, discovered the Financial Independence, Retire Early (FIRE) movement in 2018 and embarked on a quest to escape the traditional working life. Her motivation stemmed from a desire for more time to pursue her passions and reduce her stress levels.

  Discovering Financial Freedom

  Lesselbaum had always been a saver, but FIRE helped her refine her financial goals. By tracking her expenses and investing diligently, she began to build a substantial retirement nest egg. One of her key investment strategies was diversifying her portfolio with broad index funds.

  Starting a Business Venture

  Despite her initial anxieties, Lesselbaum decided to venture into entrepreneurship and started her own mobile notary business in Florida. The flexibility and income generated from her business provided her with the financial cushion to quit her full-time job in 2022.

  Achieving a Five-Figure Income

  Through a combination of her part-time job and business earnings, Lesselbaum achieved a five-figure income, proving that early retirement is accessible to individuals of all income levels. Her current income allows her to work reduced hours while maintaining a comfortable lifestyle.

  Retirement Planning and Savings

  Lesselbaum's retirement savings have grown exponentially since she discovered FIRE. By allocating a significant portion of her annual income to her retirement account, she has amassed over $300,000 in investments. She uses various incentives and celebrations to stay motivated on her savings journey.

  Flexible Retirement Timeline

  Lesselbaum's original goal was to retire by age 50. However, she has since adjusted her timeline, recognizing the importance of flexibility. Her current estimate is to retire by age 55 with at least $1 million in savings. She is also aware that changes to healthcare costs could impact her retirement plans.

  Mindset Shift in Spending

  FIRE has empowered Lesselbaum to prioritize spending on experiences and loved ones. She has invested in travel, home improvements, and the well-being of her family. Having separate accounts and a secure emergency fund has provided her with peace of mind and the ability to spend responsibly.

  Giving Back to Others

  Lesselbaum's financial success has allowed her to give back to her community. She has helped her father with his finances and invested for her special needs niece. She is also able to take her family on memorable experiences that they would not otherwise have.

  Frugal Habits for Financial Security

  While Lesselbaum enjoys spending on what she values, she maintains frugal habits to ensure her financial security. She is conscientious about saving money and makes informed spending decisions. By striking a balance between frugality and value-based spending, she has achieved her financial goals while living a fulfilling life.