Starting your journey to Financial Independence in your 30’s, 40’s, 50’s and beyond – Late FIRE

This post is for those who are worried they may have left it to late to start a journey of Financial Independence. My hope is that it will inspire you to start your journey if you haven’t started, or help you stay on your journey if you’ve already started.

  1. Follow those who have walked or are walking the same path as you

I’m not sure about you but I get a lot of reassurance and inspiration from those who are treading or have treaded the same or similar path as me.

I can’t help but feel a little disheartened when I can’t apply the same methods that others are using to reach FIRE for example:

  • Don’t buy a house to live in,
  • Avoid owning a car,
  • Live at home with your parents,
  • Keep your grocery bill under $50,
  • Start investing at 18,
  • etc…….

I’m sure that I’m not alone and you may have personal circumstances that preclude you from applying certain financial independence advice as well. This can often feel like a barrier, or a blocker in your FIRE journey and with every additional blocker you can start to feel a little less confident in achieving your goals.

This is where it becomes so important to find narratives that are similar to your own. This will help you to stop seeing your own personal circumstances as insurmountable blockers to FIRE, and reassure you that you can overcome them and reach FIRE.

I’ve listed a few of my favourite inspirational Late FIRE blogs below:

Project Palm Tree – Shaun is an Australian who officially declared that he was starting his Late FIRE journey at age 52. He is aiming to retire at 60, and shares his experiences on his blog.

Burning Desire For FIRE – Frogdancer Jones is an single Australian mother to 4 now grown men who retired at 57 (without a 6 figure income). I have followed her journey for many years initially on a site called Simple Savers. If you want to be inspired read this.

Late Starter FI – A blog about starting your FIRE journey in your late 40’s. Late Starter FI isn’t retired yet so this is a great blog to follow for the honest up’s and down’s of being on a FIRE journey.

Started at 50Becky and her husband Stephen from Colorado started their FIRE journey at 50 and retired early at 63. I loved their story and we both share similar retirement hobbies.

  1. Stop the comparison

Comparison is the thief of joy.

My situation is different to your situation and vice versa so if you do struggle with comparison try to work on your mindset by focussing on what you can do and implement rather than anything you can’t implement (shut out that noise).

If you want to read more on how your mindset can affect your finances click here.

  1. Stop wishing away the past and live a life of no regrets

Constant feelings of regret from mistakes you have made, and opportunities you didn’t take will eat you up inside if you don’t let them go.

I started my journey towards FIRE at 32. Prior to the age of 32 we made a tonne of ‘financial mistakes’ including misusing credit cards, buying brand new cars with loans, didn’t invest, and we even pulled out our superannuation (retirement) to buy a swimming pool (these are just a few of our mistakes).

In order to move past these mistakes and work towards FIRE it was necessary for us to acknowledge our bad decisions, learn from them, let go of the regret and forgive ourselves. If you don’t forgive yourself and learn from it then its difficult to grow from it.

Ask yourself. Is there anything you regret, and are you still holding onto it?

  1. Focus on your strengths

As you get older you start to gather more life experience, information and knowledge. You can turn these life experiences, information and knowledge into strengths which someone just starting their FIRE journey at 18 or in their 20’s won’t have.

For example:

Starting your FIRE journey a little later means you are more likely to have an established career that can assist you to get to your FIRE goals.


You may have previously travelled the world in your 20’s so you don’t mind skipping a few holidays and putting the money you would’ve spent to your FIRE fund.


You had your kids early and your children might be adults when you FIRE so you won’t have to factor in the costs associated with raising children in your FIRE number.


You’ve had a bad experience with consumer debt, and dug yourself out of debt. You will never let yourself get back there again.

These are all examples only, and may not apply to your situation. That said I’m sure you can think of your own lived experiences, and I encourage you to write them down and think of them as strengths you will use to succeed on your FIRE journey.

FIRE is a marathon not a sprint

Lastly for the overwhelming majority of people who achieve FIRE it takes a long time, and it won’t happen overnight. It’s easy to feel like everyone’s reaching FIRE so quickly when you don’t reflect on your own journey.

Make sure to celebrate each mini milestone, give yourself a break when you need it, readjust with your learnings, and then get back on that bike.

Ask yourself. When was the last time you celebrated how far you’ve come?

Lastly I don’t know who needs to hear this but you’ve got this (and if you ever need to someone to reach out to on this journey feel free to hit me up).

I’m keen to read about any other awesome Late FIRE blogs that you may have come across (or that you may blog on). Feel free to add them to the comments below.

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Photo by Anastasiya Vragova on


  1. Thanks for the shout out!
    I agree that it’s useless to compare yourself with anyone else when it comes to the trek towards financial independence. There are just so many variables and everyone has a different history.
    I think that it’s by far more useful to see how other people have/are doing it, then scavenge any hints or tips that they’ve done that you can use – after all, you know that they work because someone else has been there before you.
    I like using Other people’s Experience.


    1. FrankOnFIRE says:

      Thank you so much for commenting. I’m a huge fan and love your work. You’ve made my day.

      Liked by 1 person

      1. I’ve popped you on my Feedly. 🙂

        Liked by 1 person

  2. I’m in my 30s and a year or two into my FI journey, having realised that I’m not actually aiming for the RE part. Imagine if I had focused on retirement from my 20s, made sacrifices and missed out on things in my prime, only to change my mind about what I wanted long term?!

    Liked by 1 person

    1. FrankOnFIRE says:

      Absolutely. Couldn’t agree more. We too started off thinking about the RE part but have found we are more interested in reaching FI and having the freedom to do a job you love (no matter what it pays).


  3. latestarterfire says:

    Thanks heaps for the mention! It is definitely never too late to start 🙂 We may not be able to retire at 30 but hey, retiring earlier than planned or the traditional retirement age is a huge bonus.

    Liked by 1 person

    1. FrankOnFIRE says:

      Thanks for reading, and for commenting. I’ve been following you for a super long time, and you’ve been a huge inspiration to me. Thank you


  4. Amber says:

    Thank you so much for writing this! It feels like everyone is talking about finance right now and specifically about the things they did in their twenties to be financially free now. I have a long way to go, and it is nice to know that others are pursuing the journey even if it is a bit late.


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