Friends With Money #11: How this young Aussie teacher plans to retire early

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Just what inspires an Aussie teacher to pursue the dream of early retirement?

It's the freedom, flexibility, and the example set by a Canadian-born blogger known as Mr Money Mustache.

In successfully retiring from an IT career at 30, he has inspired a growing movement around the world of people who are saving hard and investing now for their ultimate goal: a want a comfortable lifestyle without the 9-5 grind.

friends with money podcast teacher retiring early

So how much do you need to retire early? Is it possible on a modest income? And how can you juggle the dream of early retirement with having children?

From single mums to young families, and from those who are living frugally to those who want to maintain their standard of living, the financial independence, early retirement (FIRE) stories we've shared with you demonstrate one thing: it all comes down to your personal circumstances.

In this episode of the Friends With Money podcast, Money magazine's Julia Newbould talks to teacher and millennial FIRE convert Emily Smith, also known as BabyFIRE30, about what got her started, her experiences as a young member of the community, and what motivates her to succeed.

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Julia Newbould was editor-at-large and later managing editor of Money from November 2019 to February 2022. She was previously editor of Financial Planning and Super Review magazines; managing editor at InvestorInfo and at Morningstar Australia. Julia co-authored The Joy of Money, a book on women and personal finance. She holds a Bachelor of Economics from the University of Sydney where she serves on the alumni council.

Emily Smith is a Brisbane-based teacher on the path to early retirement. A high school science and maths teacher, she enjoys teaching the upcoming generations about personal finance. She shares her money journey as @babyfire30 on Instagram.