Any accountants in here already FIRE'd or on track?
Any accountants up in here? Would think by nature of our business that we are the more detailed-oriented ones, especially when it comes to a financial/numbers perspective. Just curious to hear more stories from accountants who are on the FIRE path.
Our career path and titles are pretty standardized so I would think the motions are very similar, but any tips/advice along the way would be great to hear about.
For me personally, I've done the Big 4 route as an auditor and am now in industry as an Accounting Manager. I'm making low six-figures. I live in a HCOL area and my savings rate is about 50%. I'm still in my early 30s with about $600K in net worth. Most of my net worth build was attributed to investing in the S&P 500 and appreciation of the home I currently live in. About half of my net worth is in investments, including 401K and Roth IRA. I max out my traditional 401K and Roth IRA annually, and am hoping to FIRE in my early 50s with about $2.5M. I recently started my own bookkeeping practice as a side hustle in hopes to accelerate that even earlier.
My personal advice echoes what this sub says time and time again, which is that the best time to invest was yesterday and the second best time to invest is today. I wish I wasn't feeling so certain a recession was coming in the 2010s and I know I missed quite a rally in my personal investment accounts by having too much money in cash. Nowadays, I have set up automatic investments of $500 every two weeks into my personal investment account (VFIAX fund), and my only regret is I am not putting more than $500 (still got a good chunk in cash as a safety reserve to hopefully buy a bigger home soon).