The Financial Independence Retire Early (FIRE) movement is gaining traction among the new generation of young people entering the workforce. The promise of not having to depend on a paycheck and enjoying retirement far earlier than our parents’ generation seems unreal! But how exactly do you amass enough wealth to quit your day job at a time when so many of us are starting our careers with astronomical amounts of student debt? Still yet, how do you create a financial plan that works when you are, perhaps, the first in your family to earn more than minimum wage?

Many first-generation high-income professionals will find themselves accepting the role of family patron, remitting a not-insignificant portion of their income back to the families and communities that supported their dreams. For those of us who have taken on greater financial responsibility, there are no one-size-fits-all models for financial planning. Expenses change, priorities shift, and it can seem impossible or unrealistic to set ambitious financial goals. For example, the idea of stretching your resources to maximize a student loan payment may seem daunting, but that doesn’t mean it is unachievable. Looking back, I wish I had found the confidence to confront my financial anxieties earlier, to practice unfamiliar financial habits, and—most importantly—to strike a balance between being a prudent investor AND a good human being.

It’s tempting to look back with a sense of contrition or remorse for not asserting control over your personal finances sooner. However, in multigenerational and interdependent families, the goal of sensible money management isn’t just about individual economic security. It can also help expand opportunities for others.

At the moment, my journey to FI focuses on aggressive student debt reduction. I rarely buy new clothes and I swear by meal planning (obviously). I am unwilling to be discouraged by the “scenic detours” in my journey to FI if it means I am able to give to my loved ones or contribute to my community. Similarly, I am unwilling to save a few dollars by depriving my kids of experiences that I think are important, even though I have access to more cost-effective solutions.

The solutions that I share have worked for me, and I hope you can adapt them to work for you. As you and I set out on the journey to FI, I want to help you create your authentic financial plan that prioritizes your values and considers your dynamic role in the family and the community that you have chosen to be a part of.

XOXO,

Jace

PS: Just for fun, post a photo of you and your biggest cheerleader on Instagram. Be sure to tag @feedandFIRE.