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How 41-Year-Old Lakisha Simmons Secured Her Retirement Bag Of $850K As A Single Mother

Retirement isn’t normally a high priority on young workers’ lists. But this 41-year-old single mother not only secured her bag but did so in the biggest way possible. CNBC has the story of Lakisha Simmons, who retired with almost $1 million in her retirement fund ($850,000 to be exact), having worked since she was 14-years-old. Although she comes from a working-class family, Simmons worked as an associate professor at Belmont University in Nashville, TN. Between her full-time job and her side hustles, Simmons was able to bring in $150,000 in 2020. But Simmons had set a goal for herself: retire by the time she was 45-years-old. So, she deployed what’s known as the FIRE Method — “financial independence, retire early” — which is also popularly known as an extreme saving method. Simmons sold her home (to get rid of her mortgage of $2,400/month), cut down on all her expenses (switched to a prepaid cell phone plan, made meals at home), and saved $100,000 in the first year. “Simmons keeps...