Software engineer, 29, who earns $135k per year reveals how he plans to retire at 35

A 29-year-old Minneapolis software engineer who earns $135,000 a year is all set to have an early retirement by the age of 35. 

Tanner Firl and his wife, Isabel have already saved over $380,000 and plan to retire with about $625,000 in bank by the time they reach their mid-30s. 

The couple, who also have a son and three cats, describe themselves as extremely frugal and have adopted FIRE – short for financial independence, retire early – as their financial strategy. 

‘I don’t really like to buy anything. In fact, it kind of makes me anxious. If I had to guess, I’d say in terms of the entire population, I’d probably be in the top 1 percent of most frugal people, maybe top 0.1 percent,’ he told CNBC.

‘It never made sense to me. Most people have a problem not spending money. We have almost the opposite problem.’ 

The primary income earner has also managed to get his couch and patio furniture for free on Craigslist. 

He also told the channel that every year or two, he  buys second hand sneakers as a treat for himself. 

Firl explained that by consistently saving about half of his paycheck, his personal brokerage account has over $221,000, his Roth IRA has over $57,000 and has managed to secure over $26,000 in his health savings account. 

He has also managed to save over $75,000 in his 401K account. 

When asked how he manages to be this frugal, Firl explained that childhood was the same and said that going to the bowling alley and getting a gumball out of the machine was a treat for him and his siblings.

‘Whenever we wanted something, we would have to spend our own money to buy it or wait until our birthday or Christmas,’ he noted.

In 2017, the couple bought their first home and rented out the ground floor on Airbnb in order to gather the funds to pay off their entire mortgage. 

Next year, the couple bought their current 675 sq-ft home for $185,000 and once again, listed a part of it on the short-term rental website.

But this hustle soon ended after they became parents. 

The pair’s intense budgeting techniques come days after American financial guru Suze Orman has revealed the primary reason why US workers feel they never have enough money – and it’s down to self-sabotage. 

While onstage at a personal finance conference, Orman told the audience that each individual’s mindset is the reason why they are constantly strapped for cash. 

She explained that it was either due to Americans believing they ‘do not deserve it [money] or giving it away’. 

In a short clip, Orman passionately tells onlookers: ‘I’m here to tell each and every one of you, if you don’t have the money that you want in your life, you are the reason why. 

‘You are either thinking you don’t deserve it, you’re saying you’re never going to get out of debt or you are taking action and giving all your money or anything that you do to somebody else because you don’t think you are worthy.’

In May, Orman advised those looking to eventually retire to deposit all their money you can into a Roth IRA.

A Roth IRA is a type of Individual Retirement Account where you contribute after-tax dollars from your paycheck – and as money whiz Orman points out, all future withdrawals are tax free.