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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Brenton's guidance and an "always on" service approach has been absolutely fantastic for my family and I. His friendly, proactive and strategic advice is always clearly explained and backed up by his support team who have been impeccable in looking after our requirements. I would recommend talking to them for...
Luke, Sydney
Brenton Tong from Financial Spectrum is one of the most passionate of financial planners I have met through my accounting network. Brenton’s knowledge on markets, property, superannuation and the world economy is amazing which gives me the greatest confidence in referring my client to Brenton for wealth creation strategy and...
Rozalin, Sydney
We have been working with Spectrum Financials for a number of years. As a young couple thinking about marriage and starting a family were wanting some guidance for long term planning. After researching a number of financial advisors we decided to go with Brenton and his team due to their...
Duncan and Rebecca, Sydney
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
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
We were referred to a financial planner at Financial Spectrum by a friend of ours. We are so glad that we contacted them. We can honestly say that booking that first appointment was a turning point in our lives.
Patrick and Louise, Sydney

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We have been working with Spectrum Financials for a number of years. As a young couple thinking about marriage and starting a family were wanting some guidance for long term planning. After researching a number of financial advisors we decided to go with Brenton and his team due to their...
Duncan and Rebecca, 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
After a lot of research I chose Brenton Tong as my financial advisor. I had interviewed a lot of planners and was really impressed by his knowledge and technical skills as well as his ethics. The support staff are very helpful. Nothing is too much trouble. A great team.
Kieran, Sydney
The team at Financial Spectrum are A++. I wouldn't trust anyone else.
Mark, Sydney
I have been extremely happy with the service Financial Spectrum has provided. I would gladly recommend them to anyone wanting a truly talented group of financial planners on their side.
Sam, NSW
If you want a knowledgeable and honest financial advisor you can trust, I recommend you talk to Brenton Tong of Financial Spectrum. About four years ago when I was considering retiring I needed someone to review our financial situation and tell me if we had enough funds to retire. I...
Terry, Sydney

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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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