Ep 155 - Applying FIRE Strategies to Traditional Retirement, with Chris Mamula
In this episode of Your Retirement Planning Simplified, Joe Curry sits down with FIRE movement expert and early retiree Chris Mamula to explore how Financial Independence principles can transform retirement planning at any age. From boosting your savings rate to designing a life you love today - not just in the future - Chris shares actionable strategies to build wealth, reduce expenses, and find fulfillment beyond work. Whether you’re 40 or 60, this conversation is packed with practical tips to accelerate your path to financial freedom.
Key Takeaways
FIRE isn’t just for early retirees.
Savings rate is key.
A higher savings rate dramatically shortens the time to financial independence and builds momentum faster.
Avoid lifestyle creep.
Align spending with your true values.
Retirement is about purpose.
Financial independence doesn’t have to mean no work; it’s about freedom to choose meaningful work and activities.
Flexibility is power.
Reducing fixed expenses increases your ability to adjust spending in retirement, making plans more resilient.
Ideas Worth Sharing
"No work at all isn’t the goal—freedom to choose what you do is."
"A high savings rate builds wealth faster and makes the journey more motivating."
"If your spending matches your values, you’ll never feel deprived."
"Financial independence is possible at any age—it’s not just for the 30-somethings."
"Lower your fixed costs, and you raise your flexibility in retirement."
Resources
Chris Mamula’s Website: CanIRetireYet.com
Chris Mamula’s Book: Choose FI: Your Blueprint to Financial Independence
Financial Independence Isn’t Just for the Young:
How to Apply FIRE Principles at Any Age
In a recent episode of Your Retirement Planning Simplified, host Joe Curry sits down with early retiree and financial independence advocate Chris Mamula to unpack how the principles of the FIRE movement—Financial Independence, Retire Early—can benefit anyone, whether you’re 40, 50, or beyond.
Chris retired from his career as a physical therapist at age 41, but his journey wasn’t fueled by a tech windfall or family wealth. Instead, he and his wife focused on living below their means, prioritizing experiences over material possessions, and investing consistently.
The Power of Savings Rate
One of Chris’s core messages is the importance of savings rate. Traditional advice often touts saving 10–20% of income, but Chris explains how aiming for 50% can cut your time to financial independence to as little as 15–20 years. Not only does this accelerate progress, but it also reduces your required retirement savings by lowering your cost of living.
Align Spending with Values
Chris warns against lifestyle creep—automatically increasing spending as income rises. Instead, he encourages listeners to identify what truly matters and direct money toward those priorities. Whether that’s travel, family time, or hobbies, intentional spending is the antidote to financial regret.
Flexibility Builds Resilience
Reducing fixed expenses like housing and car payments increases your ability to adapt when markets fluctuate. For retirees and near-retirees, flexibility can mean adjusting discretionary spending without impacting essential needs.
Retirement Is About Purpose, Not Just Stopping Work
Financial independence doesn’t have to mean quitting work entirely. Many FIRE retirees choose part-time work, passion projects, or volunteer roles that bring meaning and community. Chris emphasizes that fulfillment comes from connection, purpose, and using your time intentionally.
It’s Never Too Late to Start
While Chris achieved FI in his early 40s, he insists the math works at any age. In fact, older workers may have advantages like higher earnings, fewer child-related expenses, and smaller mortgages. The key is being intentional, making smart choices, and leveraging your resources effectively.
Final Takeaway
FIRE principles aren’t about deprivation—they’re about freedom, flexibility, and financial control. Whether you want to leave your career early, transition to more meaningful work, or simply retire with confidence, starting today can put you on the path to the life you want.