FINANCIAL PLANNING SERVICES

Financial Independence Retire Early (FIRE) Strategies

Due to the rising cost of living and increasing life expectancies, Australians are working later than ever before. However, with careful planning, it doesn’t have to be this way. By making smart decisions while you’re young, FIRE fans can retire early.

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What is Financial Independence, Retire Early (FIRE)?

FIRE stands for Financial Independence, Retire Early and is a strategy to help people fast-track their way to early retirement by living frugally and making smart investment choices early in their working life.

How can you achieve FIRE?

FIRE involves saving and investing as much of your income as possible to achieve financial freedom before the age of 40, or the standard retirement age. The goal of implementing FIRE finance strategies is to live off your investments, without the need for a regular income stream, like a salary.

Creating a FIRE strategy

FIRE participants traditionally save up to 70 percent of their annual income and withdraw 4 percent of these savings annually during retirement to cover living expenses. This is known as the 4 percent rule. For instance, if you saved $1 million for retirement, you would withdraw and live off $40,000 for the year.

Let Financial Spectrum help you achieve FIRE

If using FIRE for early retirement is appealing to you, getting professional help to create a solid strategy can help you reach your retirement goals faster.

The talented team at Financial Spectrum can help you by constructing a customised plan to achieve your retirement goals, selecting and managing your investments, implementing tax minimisation strategies, mitigating risk and developing a retirement plan.

How we work with you

We’ll start by helping you design what an ideal retirement looks like for you. We’ll then work backwards to establish how much you need to save. This will then determine the saving and investment strategies to fast track your way to retiring early.

But we don’t stop there. Think of us as your financial coach. We often get distracted in life and find ourselves in a very different place than we hoped for. Financial Spectrum will be there to keep you on track and accountable to your FIRE goals.

We’ll give you confidence (and help you avoid costly mistakes) by helping you make informed, smart decisions. And we’ll keep you accountable because we’re not afraid to lean into hard conversations when we need to. But overall, you’ll have the security of being cared for by experts whose goal is to help you reach yours.

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I had the pleasure of meeting Greg from Financial Spectrum, who impressed me with his professionalism and attentive listening skills. He provided invaluable insights into the intricate web of financial decision-making, which ultimately enabled me to purchase my first home. I'm thrilled about the prospects of my future, and I...
Elisabeth, Sydney
Greg Suefong has turned my life around. I'd been searching for someone like Greg for a while and had spoken to various professionals, but all were disappointing. However, from the first consultation I knew Greg was "the one" and I signed up straight away without hesitation. He understood my unique...
Michelle, Sydney
We first met Financial Spectrum last year when my husband was recovering from a surgery and we were not sure if he would even get his job back. Our financial planner used his amazing knowledge and skills to help us plan our future and to date I should say, he...
Shane and Suzette, Sydney
I've talked to quite a few financial advisor's over the years, but Brenton and his team have given me the best advice, and their passion really shines through. The team's knowledge is second to none!
George, Sydney
Our Financial Planner seems to know everyone and have a fair grasp of everything financial. Having spoken with innumerable financial advisors over the years, he is the only one that we had confidence in. As well as being an expert in his field, he is also a great guy making...
Chris, Sydney
Brenton and the team at Financial Spectrum are genuine honest and friendly financial planners if you're in need of any advice on your finances.  Do not hesitate to contact Brenton. He takes the time to ask you questions first, rather than rushing you like most other planners do!  I took...
KD, Sydney

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Caroline, Sydney
I initially spent a lot of time trying to find the right financial adviser, as the industry is completely saturated and everything I've previously was told has a specific agenda behind to it, pushed a certain product that benefited the adviser or just didn't make sense.  I found dealing with...
Blake, Central Coast
Brenton, Julie, Thomas and his team of experts have been my advisors for 3 years through both the growth of my business and how that relates to my personal financial position. I cannot recommend them enough. Brenton is a great listener and very creative thinker and has a way of...
Leigh, Sydney
We first met Financial Spectrum last year when my husband was recovering from a surgery and we were not sure if he would even get his job back. Our financial planner used his amazing knowledge and skills to help us plan our future and to date I should say, he...
Shane and Suzette, Sydney
I've talked to quite a few financial advisor's over the years, but Brenton and his team have given me the best advice, and their passion really shines through. The team's knowledge is second to none!
George, Sydney
Brenton Tong was a huge help managing the financial aspects of our relocation to Australia. Professional honest advice from transferring money to purchasing our home.  Brenton was there to advise us through each step making this transition seamless and worry free. Thank you, Brenton, your advice was very much appreciated....
Fran and Kevin, Perth

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Frequently asked questions

A Financial Independence, Retire Early (FIRE) strategy can be suitable for anyone who wants to achieve financial freedom and retire early.  Participants need to be willing to cut expenses, save aggressively and invest well to build a passive income stream that will sustain their lifestyle without relying on traditional employment.  It requires careful planning, discipline and a long term perspective.  The earlier you start a FIRE strategy, the more successful you’re likely to be.  Conversely, it may be more challenging if you start a FIRE strategy later in life or is you have significant financial obligations such as dependents or a large amount of debt.

You don’t necessarily need a lot of money to start a Financial Independence, Retire Early (FIRE) strategy.  But the more money you have and the earlier you start, the faster you’ll be able to reach your retirement goals.  If you have a high level of debt, financial dependents or are without a steady source of income, you may find it challenging to achieve FIRE.

You can build a Financial Independence, Retire Early (FIRE) strategy yourself, but the guidance and expertise of a financial planner can help you achieve your FIRE goals faster.  A financial planner can help with a FIRE strategy by building a customised plan to achieve your retirement goals, selecting and managing your investments, implementing tax minimisation strategies, mitigating risk and developing a retirement plan.  They can also keep you on track and accountable towards achieving your goal.

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