But Simran\u2019s version of FIRE looks a lot different. She\u2019s got a designer handbag (second hand). She wears nice clothes (often rented). She often posts pictures from the front of the plane.<\/p>\n
She shares all of it with more than 1 million people who follow her online. But \u2013 refreshingly \u2013 rather than using her reach to influence people to spend more, she aims to \u201cde-influence\u201d them. She was offered a free designer wedding dress but declined, opting to give one away, instead.<\/p>\n
I first met her a few years ago when she spoke at an event I was MCing \u2013 I liked her instantly and joined her throngs of followers.<\/p>\n
Her content has made me wonder what on earth I achieved in my 20s. Very occasionally the use of \u201cbesties\u201d and \u201cgirlies\u201d rankled. But mostly I\u2019ve been in awe \u2013 watching her educate the masses by using the nitty gritty of her FIRE journey.<\/p>\n
\u201cI\u2019ve always shared how much they\u2019ve [her side hustles] made, my net worth updates, what I invest in, even the P&L of how my podcast makes money\u201d.<\/p>\n
Simran Kaur, founder of Girls that Invest and a follower of the concept of Financial Independence, Retire Early (FIRE). Photo \/ Supplied<\/p>\n
And yet, she still considered keeping this milestone to herself.<\/p>\n
\u201cIt\u2019s not exactly the most relatable experience now, is it? I was worried. However, when we look at other people in the FIRE community, a large portion of them are men and even less of them are an ethnic minority. I wanted young women to see more representation that women are good with money, they are good investors and that \u2018girl math\u2019 is just a myth that continues to put women down.\u201d<\/p>\n
She\u2019s right that the speed of her wealth creation is not that relatable, or at least easily replicable. But she\u2019s also upfront that she hasn\u2019t achieved it by solely scrimping, saving and investing \u2013 she has dramatically increased her earning power. \u201cI don\u2019t want to set anyone up with false expectations\u201d.<\/p>\n
It has come from myriad income sources \u2013 speaking engagements, \u2018Friends that Invest\u2019 book royalties, \u2018Friends that Invest\u2019 podcast sponsorship, an online Investing Masterclass. The website says more than 10,000 people have taken the course, so, do the maths \u2013 if all of them paid full price, that\u2019s at least $6.75m revenue.<\/p>\n
Speaking of maths \u2013 it\u2019s tricky to model a retirement of potentially 60 years or more! While Simran didn\u2019t confirm the exact number she has invested, my rough guess is around $4.5m \u2013 but I\u2019m making a ton of assumptions there (investment mix, drawdown percentage, returns, whether she\u2019s indexing for inflation, etc).<\/p>\n
The cashflow of her business obviously makes her different from many FIRE followers, but plenty of people make a lot of money only to spend it all just as quickly \u2013 just not Simran.<\/p>\n
\u201cI would have family friends ask me, \u2018So, when are you going to move into a nicer house\u2019 and I would say \u2018I\u2019m happy in this modest home, I\u2019m focusing on putting all my money into investments\u2019.\u201d she told me.<\/p>\n
The spender in me wanted to know \u2013 isn\u2019t she tempted to just, y\u2019know, buy all the nice things?!<\/p>\n
Yes, \u201cbut I\u2019ve found a way to \u2018scratch the itch\u2019 without letting lifestyle creep get to me \u2013 I once borrowed a cute Porsche [my dream car] for a few months to drive around and then dropped it back and bought a reliable secondhand Tesla. Current Sim is thanking past Sim for the savings on fuel prices right now!\u201d she says.<\/p>\n
Simran Kaur’s investing course has enrolled more than 10,000 people worldwide. Photo \/ Supplied<\/p>\n
She didn\u2019t even splurge when she hit her FIRE goal, \u201cRetiring early is a celebration enough.\u201d<\/p>\n
The outcome she has achieved sounds glamorous \u2013 retiring at 29 \u2013 but the method she\u2019s used to get there is more prosaic, and applicable to any financial goal. Spend less than you earn, invest the difference, boost your earning power and don\u2019t let \u201clifestyle creep\u201d be your undoing.<\/p>\n
Her particular brand of magic perhaps lies not only in making investing simple, but in making the basics exciting \u2013 even when the sacrifices involved might not be.<\/p>\n
For someone who never has to work another day in her life, Simran seems very busy.<\/p>\n
\u201cI started the process of not working … but eventually realised I was bored out of my mind. Now I\u2019ve realised retiring early just means having the freedom to do what I want and say what I want, on my own terms. I can pick up projects that interest me, invest in startups that spark my interest and give back my time\u201d.<\/p>\n
She\u2019s just signed up to train guide dogs for the Blind Foundation, she is on the Auckland Hospital Foundation board, she\u2019s doing some study \u2013 and the next intake of her investment course is currently open.<\/p>\n
So, retiring early doesn\u2019t really mean stopping; it means being able to choose what\u2019s worth doing, and by that measure, Simran may just be getting started.<\/p>\n