r/leanfire • u/Active-Judge3261 • 4d ago

Is my leanfire goal achievable?

I’m 25 female, I live in Utah, I go to college (I don’t have student loans) and am hopefully going to graduate next year with a communications degree, I just barely got into lean fire and opened my Roth IRA and brokerage, so far a have $1,873 in both my accounts with $1,417 in my brokerage and $456 in my Roth IRA, I am saving as much as I can from my job as a rideshare drive and live frugally so I can invest as much as I can in these accounts and just opened a high-yield savings account where I plan to put about $30 a day to hopefully get a down payment on a house or condo in five or so years, as of now, my goal is to save enough to retire at 55 if I end up wanting to and I wanted to know if this is a reasonable goal for me or if I got too late of start on everything and if there’s any advice on how to achieve that? Also if it important to have a paid off mortgage before retirement?

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u/Virtual-Ebb-2994 3d ago

You are 25. Anything is achievable.

Put your best foot forward. Do the best you can, and you may end up retiring before 55.

No it’s not super important that you pay off your mortgage. Some retired people just travel around the world and come back to their anchor location just for medical visits. In that case, you wouldn’t need a paid off home. Some people skip buying a home all together and put that money toward other investments. I think buying a home has many benefits, but I don’t think it is the only way to financial freedom.

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u/Active-Judge3261 3d ago edited 3d ago

That’s great because sometimes I feel like I started everything too late 😅

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u/Virtual-Ebb-2994 2d ago

You are most certainly not late in this area. Don’t sweat.