The concept of retiring early seems like a faraway dream for most of us. I mean, shit, those who are well into their retirement age can barely afford to do so right now.
However, some young adults are working extra hard in their 20s so they can get ahead for later in life. One example is a TikToker named Mia McGrath, who shares personal finance tips with followers.
In one recent video, Mia talked about the idea of “soft retirement,” which is basically working a more flexible schedule, unbothered by things like limited paid time off and sick days. Because who needs them when you’ve already saved a shit ton of money?
After briefly introducing herself, she explained that she’s currently on a journey to retire early—not because she hates her job or wants to sit around all day, but rather because she wants to have the freedom to work fewer hours when she’s older.
What is a Soft Retirement?
Mia said she follows the F.I.R.E. movement: “financial independence, retire early.”
“Retiring early is definitely possible,” she told her viewers. “Retirement isn’t about reaching a certain age. It’s about reaching a certain number—and that number is the number that you need in order to live off your investments for life.”
“It’s also about having control over your time and choices,” she continued. “Of course, it depends on your personal finances, your income, expenses, and obligations.”
For example, she noted, soft retirement might be more difficult to achieve if you have dependents or larger financial commitments. But for someone as young and early on in their career as Mia, “there’s no reason why I shouldn’t strive towards this,” she said.
For Mia, this looks like cutting back on unnecessary expenses, such as daily coffees and manicures, while hustling a little extra than others her age.
However, “it also means that at 45, I won’t have to ask my boss for a random Wednesday off—I’ll just take it,” she said. “That’s my motivation for wanting to retire early.”
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