Woman shares plan she's following to be able to retire in her 30s

A savvy woman has divulged her strategy for retiring in her 30s, focusing on achieving financial independence. Kennie Bukky, who imparts career and money guidance online, disclosed the measures she's adopting to bow out early from the workforce.

On her TikTok channel @Kenniebukky, she shared a video captioned: "My early retirement plan. Copy my 9-5 early retirement plan - not official financial advice, just my personal game plan for early retirement."

The clip swiftly garnered 36.2k views, nearly 2,000 likes, and a flurry of comments from followers eager for more insight. In the footage, Kennie articulates her desire to eschew the traditional 9-5 grind until what's considered 'retirement age' - usually the late 60s.

In a particular segment, Kennie penned: "Most people don't know that you can choose when you retire. Most people in the UK wait till over 65 years to retire. Since you can decide what age you want to retire, I've decided that I don't want to work a 9-5 until I'm 65, so here is my game plan for achieving financial independence and retiring early."

Laying out her blueprint, she detailed: "The game plan is called F.I.R.E. This stands for: Financial Independence, Retire Early. Financial independence is the goal here (financial freedom is the level after this). When financial independence is achieved, you don't have to work to cover your living costs so technically you can retire."

In another slide, she elaborated: "How do I plan to achieve financial independence? Financial independence is when things you own (assets) pay for your living expenses, like bills, food, etc.

"Examples of assets are property, stock and shares, a business etc, high income skills and side hustles. You can only gain assets by investing in them. The right assets will later pay for your lifestyle when you retire."

Kennie then shared her strategy for acquiring assets, which requires disposable income. Here's how she ensures she has some spare income:

• Acquiring a high income skill and becoming a contractor. Being a contractor (as opposed to a permanent employee in my 9-5 career) enabled me to start earning a six-figure salary in my 20s.

• Creating multiple streams of income through my side hustle and business.

• Living below my means by keeping my bills and expenses low to save most of my income.

Kennie added: "I save and invest most of my income."

Here are the areas she invests in:

• Courses and books to enhance and develop my income-generating skills to maximise my income.

• I invest in assets that yield dividends like property and stocks and shares.

• I invest my time and money into a business that generates additional income.

Kennie concluded by saying: "Once the passive income from these are able to cover all living expenses and bills - the financial independence has been achieved and I can technically retire because you won't HAVE to work, but I can choose to do so by choice!

However, it's worth noting that this plan might not be suitable for everyone. Kennie is clear in stating that this is not official financial advice, but simply her "personal game plan."