Julien and Kiersten Saunders are on the path to early retirement, and they’d like other African-Americans to consider it
Julien and Kiersten Saunders are on the path to early retirement, and they’d like other African-Americans to consider the journey as well.
Mr. and Mrs. r&R spend much of their time now sharing their experiences with other members of the “financial independence, retire early” community, as well as those around them who don’t believe they could ever attain the same wealth necessary to live financially free. The Saunders are planning to leave the traditional workplace entirely in the next two and a half years and then focus on alternative streams of income. They highlight some of the challenges specific to the black community, such as being risk-averse, having a high dependence on jobs and an “overreliance on education as a way to climb out of multigenerational poverty.” They want to introduce FIRE as a means to change that financial narrative.
MW: A MarketWatch story caused an uproar last year when it reported that by age 35, a person should have twice their salary saved for retirement. A lot of critics said they couldn’t do that because they had student loans, an expensive mortgage but also that there were gender and wage gaps that meant they earned less and thus couldn’t save as much.
Julien: Most of them are open to it. The black experience for high earners is a lonely one, you’re the only one in the room if you go to a conference, you’re the only on there in a C-suite, or the only one sitting at the table. It wears on people, so to give them an option to say hey, if you want to have an early retirement or live below your means, build up reserves and strike, this as a viable option for you.
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