Saving up for retirement, especially an early one, isn’t always a feasible financial task. You would think you have to penny-pinch around every corner and sacrifice even basic nonessentials, however, money coach Chloé Daniels is redefining the path to financial independence by showing that you can retire early without giving up the lifestyle you love.
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Through her savvy financial strategies and practical mindset, Daniels has become a leading figure in the FIRE community, which stands for financial independence, retire early. Check out these five things she’s doing to retire early while still enjoying life to the fullest.
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1. Spend in Areas You Value
One of Chloé Daniels’ key mantras is to spend in alignment with your values. This doesn’t mean cutting out every indulgence; rather, it’s about focusing on the things that bring you the most joy and cutting back on what doesn’t. Instead of following a rigid, restrictive budget, Daniels recommends evaluating what you genuinely value and allowing room for those things while cutting unnecessary expenses elsewhere. She has said,
“I focus on spending in areas I really value- while cutting back on the things I don’t value. So even though I cut back in certain areas (like clothes, beauty, cars), I never deprived myself because I still spend in the areas of the highest value to me (travel, friends, biz).”
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2. Invest In Yourself Early
A cornerstone of Daniels’ strategy is investing early and consistently, not just financially but in yourself. She swears by paying for coaches in all areas of life to improve everything from financial literacy to investment strategies. She said,
“I spend thousands on coaches every single month. This is the greatest life hack that I can’t recommend enough. I’ve worked with business coaches, spiritual coaches and even love coaches- and each one has helped me overcome obstacles and get better results faster.”
3. Focus On Increasing Your Income
Diversifying income is another significant component of Daniels’ early retirement plan. She doesn’t rely solely on her day job but has built multiple streams of income through side hustles, passive investments and digital products. This not only accelerates her savings but also creates financial security both now and in the future.
Daniels often discusses how side gigs, such as freelance writing or launching an online course, can bring in extra cash that goes straight into her investment accounts. Growing her income is a key focus for her and she has advised,
“I focus heavily on increasing my income. Sky’s the limit in terms of how much we can make- and honestly, I don’t want to have to live a super frugal life just to meet my financial goals. So the only other option? Increase my income.”
4. Automate Your Finances
Automation is a game-changer in Daniels’ financial approach. She emphasizes that setting up automatic transfers to savings, investment accounts and even bill payments can eliminate the temptation to spend.
A set-it-and-forget-it mentality gives her the freedom to focus on enjoying life without worrying about whether she’s saving enough. Every month, a portion of her income is allocated toward her long-term goals without any extra effort, or as she said,
“Anytime I get a lump sum of money- whether from a brand deal, tax refund or something else- I allocate a small portion to wants or something fun (maybe 10% to 20%) and the rest will get dedicated to my financial goals. That way I get to enjoy the now, and reach my money goals faster.”
5. Don’t Focus on Every Dollar Spent
Daniels’ journey to early retirement is not about extreme frugality or working herself into the ground. Instead, it’s about balance and flexibility. She acknowledges that life is unpredictable, and being adaptable is key. By leaving room in her budget for spontaneity and fun, Daniels ensures that her journey toward financial independence is sustainable and enjoyable.
She also understands that plans can change, and she’s prepared to adjust her strategy if necessary. Whether it’s taking a year off from saving to travel more or scaling back her side hustles for a mental health break, Daniels approaches her finances with grace and flexibility and added,
“I do not focus on every dollar spent- I focus on how much I’m saving and investing. As long as I’m making targets on these goals- then I don’t really care where every single dollar goes.”
Final Take To GO
Daniels is living proof that early retirement doesn’t have to mean sacrificing your lifestyle. Through intentional spending, smart investments and more, she’s charting a path to financial independence that still leaves room for joy and fulfillment. By following these strategies, you too can work toward an early retirement without giving up the things you love most.
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This article originally appeared on GOBankingRates.com: 5 Things Money Coach Chloé Daniels Is Doing To Retire Early– Without Sacrifices
