3 different roads these investors took to achieve financial freedom

Many of us, at some point, have yearned for financial freedom: the ability to work by choice rather than necessity, and the comfort of knowing our portfolio can cover the bills while we take a break.

That idea sits at the heart of the FIRE movement - financial independence, retire early. It’s often misunderstood as either extreme penny-pinching or turbo-charged investing. In reality, most people who reach FIRE do so through thoughtful planning, patience, and years of consistency.

Across the globe, a growing group has been doing exactly that. I spoke with three individuals I met through a community of like-minded people and got to know over time, exploring the motivations, strategies and habits that helped them reach financial independence.

The approaches below span different risk profiles and reflect three very different personal journeys. The aim isn’t to copy them, but to open your mind to becoming more intentional about your own financial future.

#1 - Volker, who turned options into autonomy

For Volker, now 40, the pursuit of financial independence began in his early 30s, after his boss denied him time off to visit his ageing mother in Germany, calling the idea of being given around a month of annual leave each year “ridiculous” for the soul.

“That’s when it occurred to me that working 11 months a year may not be the smartest course of action ... I had to detach my income from a certain location or employer," he says.

How he achieved it

The forestry researcher educated himself about shares and started saving and investing substantial amounts of income to accelerate wealth creation and have the ability to survive if he lost his job.

That buffer proved essential when COVID hit and he was made redundant. Rather than panic, he used the time to deepen his knowledge of markets by learning about options trading.

“Options trading can give you the freedom to generate cash flow from anywhere with internet access,” he says.

As he became more proficient in options trading, he sold a triplex he co-owned with his sister in Germany, which had risen significantly in value by 2022. He used his share of the proceeds to bolster his share portfolio, which now supports his lifestyle through a trifecta of cash dividends, capital growth and income from options.

Some of his largest holdings include growth stocks Apple and Alphabet. One lesson he emphasises, particularly in the context of funding a FIRE lifestyle, is the importance of actively managing positions - taking profits off the table from time to time, either to redeploy into better ideas or to fund living expenses.

“But you don’t want to cut the flowers entirely. You still need them to keep growing," Volker says.

He also keeps costs low by living in a modest home, handling repairs himself, and sticking to a golden rule when it comes to discretionary spending.

"If you can't buy it twice... then you can't afford it," he says.

Pros, cons and lessons

Volker, whose net worth exceeds $1 million, says work stopped being compulsory at 35 -  though it took “two years of relentless study,” meaningful capital and a great deal of trial and error to become proficient at options trading. He is quick to stress that options income isn’t for everyone and carries risk.

For those interested, he suggests reading Rich Dad Poor Dad and watching Adam Khoo on YouTube.

“The best feeling is that my livelihood no longer hinges on my job. No boss has any power over me,” he says.

#2 - Amy, who doesn't keep up with the Joneses

Amy’s innate desire for financial security became the engine driving her pursuit of financial independence.

“I have always felt a sense of comfort and pride in choosing a lifestyle that is well within my means,” the 40-year-old says. “There truly is a sense of financial freedom in being well prepared for just about anything to happen.”

How she achieved it

For Amy, there was no secret playbook. The self-employed mortgage broker simply got the basics right - and kept doing them for decades, building good habits that compounded over time.

Where she particularly excels is in watching every dollar, carefully considering whether she really needs to buy what’s in front of her and, if so, whether she’s getting the best deal. In other words, she has mastered the art of avoiding a silent wealth killer: impulse purchases, or paying more simply for the sake of convenience.

She’ll walk ten minutes instead of paying for parking, hunt for discounts, and ensure her expenses don’t rise in line with her income.

The savings are invested steadily across a diversified portfolio, including managed funds she contributes to regularly and apartments she bought in the late 2000s and early 2010s that now provide steady cash flow.

“I spend on what is important to me but save where others may feel pressure to spend. I drive a modest vehicle, yet own an airplane,” Amy says.

“It took many years to save to feel comfortable making the decision to take my license, but by living the way that I have, it made it not only possible but easy.”

Amy describes herself as financially free, and since she’s self-employed with no pressure to constantly generate income, she decides how much she works.

Pros, cons and lessons

Her message to anyone starting the journey is to build a budget, save, invest, and ignore the pressure to keep up with the Joneses.

A key tip she offers is to keep raising the floor when it comes to financial goals.

“It’s really about setting a new standard every time you hit a savings milestone,” she says. “One day you’re comfortable with $1,000, then it’s $5,000, then $10,000 — and so on.”

Importantly, Amy hasn’t lost sight of what money is for. She spends on experiences - from flying planes to horse riding in Costa Rica - rather than on shiny, expensive possessions.

“Enjoy life — and you absolutely should — but be aware so you don’t end up trying to live within someone else’s means, or beyond your own," she says.

#3 - Jason & Kate, the house hackers

Jason, a 52-year-old former social worker, and his fiancé Kate, 35, who works in intellectual property, began pursuing financial independence after Jason found himself unhappy and financially stretched in his career.

He says he felt “trapped” by debt, locked into an inflexible 8–5 schedule and deteriorating across his “mental, emotional, physical and spiritual health.”

How they achieved it

After meeting Kate, the couple agreed on pursuing financial independence, so Jason set a plan in motion: eliminate bad debt and learn about property investing.

He already owned a modest two-bedroom home on a large block, and the ‘aha’ moment came when he realised the land could be subdivided.

They refinanced, built a second home with a granny flat on the vacant lot, moved into it, and rented out the original house and flat. From there, refinancing became the engine to acquire more rentals while keeping expenses lean.

At 45, Jason learned he could take an early pension in his 50s.

It was at this point that I became extremely motivated and had a plan to get out of my job. I would acquire as many properties as possible while still working and then take my pension as soon as I could," he says.

To be clear, Jason purchased properties within his means, buying at significant discounts where major repairs were needed - and learning to do the work himself. He also manages all tenant relationships himself to save on property manager fees.

But a central part of Jason and Kate’s philosophy - and one many miss when talking about retirement - is to be deliberate about the lifestyle you want and then build an income to match it, not the other way around.

If you’re happy with budget trips, home-cooked meals and modest tastes, the income required is far lower than many assume.

Pros, cons and lessons

Jason says his “mental, physical and emotional health has improved drastically” since quitting full-time work, but cautions the approach requires good planning and emergency savings. Most of his wealth sits in property, and cash flow can dip when repairs arise.

His advice is to do your homework and “build a team of reliable people” — a mortgage broker, financial adviser and others who can help run the numbers and stress-test the plan.

And above all, he says:

“Be brave… if you want to make a move and have fear, do it anyway."