San Diego

San Diego Man Who Quit His Job Teaches Others How To Achieve Financial Independence Using “FIRE” Method

Scott Rieckens gives the top three tips so that you can be financially free

When most of us think about retirement, we imagine ourselves in our 60's and 70's. For Scott Rieckens, he will have the option to retire in about six years. He's currently 35-years-old. 

"My wife and I are making small decisions on a daily basis that make huge changes for our future," said Rieckens. 

Rieckens quit his job in San Diego and moved with his wife to Bend, Oregon. They now travel around the country promoting the FIRE method (financial independence and early retirement). 

Rieckens said that anyone can apply FIRE to their lives. His documentary, Playing With Fire, shows his journey to financial independence. 

He said for those living in San Diego, it is important to cut down housing, transportation, and food costs. 

"If you're a bit younger and single you might want to consider house hacking," said Rieckens in Coronado on Friday. "Maybe you purchase a duplex and rent out the other half so someone else is paying half the mortgage." 

He also advises attempting to save 40 to 60 percent of your income. 

"I had to walk in and quit my job," said Rieckens about making the decision to fully accept the FIRE life style. "The goal was to set myself up with a remote job so I could have flexibility." 

Finally, Rieckens said you should invest in low-cost options like index and mutual funds so that your money works for you. 

"It's those types of mental shifts that the FIRE framework really champions," he said. 

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