The FIRE movement, short for Financial Independence, Retire Early, has gained popularity in recent years as individuals strive to achieve financial independence sooner rather than later. For Steven Keys and his wife Lauren, reaching financial independence at the age of 29 allowed them to retire from full-time work and pursue other passions.
The couple attributed their early retirement to their ability to keep costs low, save diligently, and invest wisely. Now, they are able to cover all their living expenses through passive income generated from their investments. Despite not needing to work for a living, Steven and Lauren continue to seek new projects and ventures, embracing the freedom that financial independence has afforded them.
One such project is their blog and social channels, Trip of a Lifestyle, where they share personal finance tips and document their journey towards financial independence. While the passive income from their blog is modest, the couple donates all net affiliate profits, showing their commitment to helping others achieve financial freedom.
Recently, their focus has shifted to creating CramBetter, an online tutoring service for college math and science subjects. This venture has the potential to generate significant passive income as the business scales, thanks to its subscription-based model and online platform.
For the Keys, starting CramBetter was not just about making money; it was about fulfilling a dream of starting their own business. The couple emphasized the importance of pursuing projects that bring fulfillment and joy, even in retirement.
While some may question the need for generating passive income in retirement, the Keys see it as a way to explore new opportunities and experiences. With the financial security provided by their investments, they feel free to experiment and try new things, whether it be travel, leisure, or entrepreneurship.
Ultimately, the FIRE movement is about more than just early retirement—it's about opening up options and possibilities in life. For Steven and Lauren Keys, achieving financial independence at a young age has allowed them to pursue their passions, give back to others, and live life on their own terms.