There is no shortcut for saving money for retirement. But some people have found ways to do the hard work faster.
Rather than planning to retire in their 60's, they turbo-charge savings, pare down spending and optimize investments to become financially independent and retire early -- a process known as FIRE.For Justin McCurry retirement came more than 30 years early. McCurry saved $1.3 million and retired nine years ago when he was 33 so he could spend more time traveling with his wife and three kids. But it took him years of careful planning and saving to get there.
"And my husband's like, we're not going to retire early if we're going to have to sacrifice, like no longer eating at restaurants and being foodies."Supercharge savingsThe powerful accelerant getting you to your magic number is your savings rate, with most people pursuing FIRE living well below their means and saving more than half their income.The earlier you start the better, because the sunshine that makes your savings grow is compounding interest.
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