FI on a Teacher’s Salary: Yes, It’s Possible—and Here’s How

How I Reached Financial Independence by 35 — And You Can Too

Let’s be honest: “financial independence” sounds like one of those buzzwords invented by people who already own beachfront property and have never cried in front of an ATM. But I promise you — I wasn’t born with a silver spoon in my mouth. I was born with student debt, a bad iced coffee habit, and a deeply rooted fear of turning 65 and still owing rent.

My name is Rachel Simmons. I’m not a financial advisor, a hedge fund manager, or a Wall Street genius. I’m just a regular person who learned how to play the money game smarter, not harder. I hit financial independence at age 35, and I want to walk you through how it happened — and how you can get there too (without sacrificing joy, pizza, or good Wi-Fi).

What Is Financial Independence, Really?

Before we dive in, let’s define what we’re really talking about. Financial independence (FI) means you no longer rely on a job to cover your expenses. It’s not about being rich. It’s about having enough — enough invested, saved, and self-sustaining — so that work becomes optional, not obligatory.

For me, that meant reaching a point where my investments generated enough income to cover housing, food, travel, and the occasional almond croissant (a true luxury in my book). It takes planning, discipline, and a few mindset shifts that I’m going to outline for you below.

Step 1: I Knew My “Why” — And You Should Too

Motivation is what gets you started. Clarity is what keeps you going. My “why” wasn’t about yachts or designer bags. It was freedom — freedom to wake up without an alarm. Freedom to say no to toxic jobs. Freedom to pursue work that fuels my heart instead of just my bank account.

If you’re here reading this, you probably have a “why” too. Maybe it’s about securing your family’s future, traveling the world, or starting your own business. Write it down. Remind yourself often. Your path to FI begins in your mind before it ever shows up in your wallet.

Step 2: I Tracked Every Dollar (Yes, Every. Single. One.)

I know this sounds about as fun as flossing your cat, but trust me — you can’t change what you don’t measure. For 12 straight months, I tracked every expense using a simple Google Sheet. No fancy apps. No judgment. Just radical awareness.

Here’s what I discovered:

• I was spending $276/month on streaming services — and still said, “There’s nothing to watch.”
• My coffee habit was costing more than my electricity bill.
• I had three gym memberships and went to *none* of them.

Once you know where the money’s going, you get to make empowered choices — not scarcity-based sacrifices.

Step 3: I Adopted the 50/30/20 Budget — With a Twist

Most personal finance pros swear by the 50/30/20 rule: 50% needs, 30% wants, 20% savings. I started there but quickly realized if I wanted to reach FI quickly, I needed to be more aggressive. So, I flipped the script and started living on just 50% of my income.

Here’s what my adjusted budget looked like by year two:

• 50% – Savings & Investments
• 30% – Needs (rent, groceries, transportation)
• 20% – Wants (yes, that includes my Trader Joe’s dark chocolate stash)

This isn’t about deprivation. It’s about intentionally directing your money instead of letting it leak out like a slow-draining faucet.

Step 4: I Invested Like a Minimalist

Forget hot stock tips and TikTok crypto bros yelling into cameras. I based my investing strategy on three words: Index. Funds. Forever.

I didn’t try to beat the market — I joined it. I maxed out my 401(k), opened a Roth IRA, and eventually began investing in taxable brokerage accounts — all focused on low-cost index funds. I stayed consistent. I didn’t panic when markets dipped. And most importantly, I never chased “easy money.”

My primary holdings include:

• Vanguard Total Stock Market Index Fund (VTSAX)
• Vanguard Total International Stock Index Fund (VTIAX)
• Vanguard Total Bond Market Index Fund (VBTLX)

This slow and steady approach allowed compound interest to do the heavy lifting while I focused on living a meaningful (and caffeinated) life.

Step 5: I Built Multiple Income Streams

Relying on one income source is like sitting on a one-legged stool. I wanted three things: stability, growth, and scalability. So I diversified:

1. Day Job: Paid the bills + allowed me to save aggressively
2. Freelance Copywriting: Started as a side hustle, later became my main gig
3. Dividend-Paying Investments: Reinvested initially, now partly fund my lifestyle

Eventually, my freelance income and passive investments replaced my salary. And that’s when the magic — and the financial independence — really kicked in.

Step 6: I Designed a Life, Not Just an Escape Plan

There’s a trap many fall into: thinking that FI is an end goal. It’s not. It’s a launchpad. What’s the point of being free if you don’t know what to do with your freedom?

I didn’t want to retire to a couch. I wanted to travel, write, volunteer, mentor, and maybe take up pottery (still working on that one). So I built a life I didn’t need to escape from — one full of choice, creativity, and calm mornings with coffee *I make myself now.*

You Don’t Need Millions — You Need a Plan

Hitting financial independence by 35 wasn’t about being born lucky; it was about strategic living. I made mistakes. I got side-tracked. I panicked when the stock market dipped hard in 2020. But I stayed the course. You can too.

If I can do it — a woman with no rich relatives, no finance degree, and wildly expensive taste in notebooks — you can too.

Financial independence isn’t a fantasy. It’s math, mindset, and momentum.

Want to Start Your Own FI Journey?

Let’s keep it simple. Here’s your starter pack:

• Track your spending — knowledge is power
• Start saving now — even if it’s just 5%
• Automate your investing — set it and forget it
• Keep learning — never stop leveling up

And if you get discouraged, just remember: your future self is cheering you on from that little house by the beach — sipping homemade coffee.

Let’s build wealth with intention. Let’s invest like it’s an act of revolution. Let’s turn financial independence from a dream into a plan.

If you’d like to learn more about our mission and the people behind this site, click here to read about us. Got questions or just want to say hi? Contact us anytime — we love hearing from our smart and curious readers.