Chrissy Arsenault
Arsenault summed up the couple’s financial strategy as “spend less, make more, and invest more.”
To spend less, she said they’ve reduced how much they dine out at restaurants, bought in bulk from Costco, planned their own vacations rather than using travel agents, avoided gym memberships by working out at home, and limited alcohol consumption.
They’ve also postponed certain expenses to save some extra cash.
“I went many years with a broken phone screen and really didn’t mind,” she said.
To make more money, Arsenault said they’ve “aggressively pushed for additional income.” For Arsenault, this has taken on the form of “climbing the corporate ladder” — she said she landed a six-figure salary at age 26. She also started a side hustle working as a registered dietician, something she focuses on during evenings and weekends.
Ryan works full-time as a human resources professional. In his spare time, Arsenault said he focuses on managing the couple’s three investment properties which provide them with passive income. The couple’s combined taxable income was roughly $250,000 in 2023, according to a document viewed by BI.
When their strategies generate extra money, the couple invests as much as possible in their 401(k) plans and low-cost index funds.
In case of emergencies, the couple keeps about six months of funds in savings.
Arsenault said saving money was easier when she and Ryan lived in Indiana. The couple relocated to Colorado during the pandemic, a few years into their FIRE savings journey.
One of the biggest differences between the two states has been the housing costs, Arsenault said. The couple is based in Monument, Colorado, where the average home value is about $743,000, per Zillow. In Fishers, Indiana, where they used to live, the average home value is $426,000.
In the years ahead, one lifestyle change could put some additional pressure on the couple’s finances: They’re expecting their first child, which they know will come with many new monthly expenses.
However, Arsenault said she thinks her financial goals are still achievable, in part because she and Ryan have been planning for life with a newborn. They’ve even planned how to finance their child’s potential college education.
“We’ve started to save up for his 529 plan so that they can attend college,” she said, referring to the investment account that offers tax-free withdrawals when the money is used for certain education expenses.
Are you part of the FIRE movement or living by some of its principles? Reach out to this reporter at jzinkula@businessinsider.com.