I’m a super saver & have £298k put away by 29 – I’ll quit work at 35

MANY of us would be insulted if we were told we were super tight when it comes to money – but not Tanner Firl.

Instead the 29-year-old super saver, who lives in Minneapolis in the US with his wife Isabel, their child and three cats, has proudly revealed that he’s planning on retiring at the age of 35 and has already saved a whopping £298k ($380k) in preparation.

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In fact, the dad-of-one, who is a software engineer and makes £106k ($135k) a year, is so savvy with his money, he’s even managed to get his couch and patio furniture for free on Craigslist.

“I don’t really like to buy anything,” he admits, speaking on . “In fact, it kind of makes me anxious.”

He continues: “If I had to guess, I’d say in terms of the entire population, I’d probably be in the top 1% of most frugal people, maybe top 0.1%.”

Tanner goes on to say that every year or two he’ll treat himself to a new pair of running trainers… but that doesn’t mean they’re fresh off the shelf.

Instead, he reveals that the last pair he bought were actually second-hand.

If I had to guess, I’d say in terms of the entire population, I’d probably be in the top 1% of most frugal people, maybe top 0.1%

Tanner Firl29-year-old super saver

While he’s always been the primary income generator in the household, the software engineer says that his wife helps to save them money by being the “primary cook and homemaker.”

PLANS TO RETIRE EARLY

As for exactly how he plans on retiring early, Tanner has it all sussed.

He hopes to achieve FIRE (financial independence retire early) by following ‘LEAN FIRE,’ which he defines as “a subset of people that would like to reach financial independence earlier than most people in the movement.”

So, how does it work? The super saver explains that it involves saving money at a higher rate than others.

“I’d estimate we put about 50% or so of our paycheck, maybe a little bit more, towards savings,” he says.

As for his personal finances, Tanner reveals that his personal brokerage account already has £173k ($221k) in it, his Roth IRA has £44k ($57k) and health savings account £20k ($26k).

Meanwhile, his 401K (a retirement savings plan that provides tax advantages to savers) holds an impressive £58k ($75k).

But Tanner says he’ll only feel comfortable retiring when his savings hit around £491k ($625k) because that means he’ll have £19k ($25,000) a year to live on, which he considers ideal for his lifestyle.

FRUGAL CHILDHOOD

Tanner says his family were always very frugal growing up and recalls going to the bowling alley and getting a gumball out of the machine as a treat.

“Whenever we wanted something, we would have to spend our own money to buy it or wait until our birthday or Christmas,” he says.

I don’t really like to buy anything. In fact, it kind of makes me anxious

Tanner Firl29-year-old super saver

As a result, he notes that he and his siblings all got a paper round and searched for other savvy ways to make money too.

GRADUATING FROM UNIVERSITY

Tanner graduated from the University of Minnesota with a bachelor’s degree in maths in 2015 and paid his parents back the £35k ($45k) loan they gave him in monthly instalments of £586 ($746).

While the money-saving whizz recalls how it took him five years to pay his parents back, he admits: “I could have done it faster had I wanted to, but I figured that the difference would be better spent investing in index funds.”

The savvy saver quickly bagged his first job, which was at the National Security Agency, where he was earning an impressive £51k ($66k) a year.

And, revealing his top tips on how he made the most out of his wages, he says he put in as much as he could to get the employer match on his 401k savings retirement account.

Not only that, but he explains that he was also investing in index funds at the time.

SIDE HUSTLES

In 2017, Tanner and Isabel bought their first home and rented out the downstairs of the house on Airbnb, which he says allowed them to gather the funds to pay off their entire mortgage.

The following year, the couple bought their current 675 sq-ft home for £145k ($185k), and again, listed part of the house on Airbnb.

However, he says this side hustle came to an end when they welcomed Teddy into the world in 2021.

SAVING ON FOOD SHOPPING

While many of us are guilty of spending a small fortune on the weekly food shop, Tanner and Isabel spend around £157 ($200) per month on food and cat supplies.

He goes on to say that while he likes to eat healthy, it can easily by done on the cheap.

We got a bunch of hand-me-downs from my sister who have had kids, and that’s all the clothes that our son wears

Tanner Firl29-year-old super saver

For example, he explains that instead of eating meat, he’ll opt for beans or rice which works out much cheaper and will last much longer.

He also notes that they get a lot of their food from a nonprofit organisation which would otherwise see food go to waste.

They pay a very reasonable £19 ($25) for a bundle, which equates to around half a carload.

NABBING BARGAINS

Not stopping there, the savvy saver reveals that he also gets a lot of free things from the likes of Craigslist and online marketplaces, while his family members are always pointing out items they’ve spotted at the side of the road.

“That’s how we ended up getting our running stroller that I use to run with my son,” Tanner says.

“We got a bunch of hand-me-downs from my sister who have had kids, and that’s all the clothes that our son wears.”

Tanner concludes by explaining that contrary to common assumption, people like him who are hoping to retire early aren’t just “busy stashing away money” and forgetting to live their lives.

Instead, he says that the majority of happy experiences will likely be free or super cheap.

“Obviously, money can put a roof over your head, put food on the table, but when you’re saving money, you’re essentially buying freedom,” the savvy saver explains.

“So the best way that you can spend excess money is ironically, by saving it to give you more time in your life back to you to spend however you want.”

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