Gen Z woman shares how she's saved £75,000 by 24 and plans to retire at 40

For most of us, the prospect of having £75,000 saved up in the bank is something we can only dream about - but that’s not the case for one TikToker.

Mia, a 24-year-old influencer and advocate of what’s known as the 'financially independent, retire early' movement (also known as the FIRE movement), is on a journey to make a million pounds by 40.

For those who don’t know what FIRE is, it's an idea that’s popular with some members of Gen Z who dedicate their lives to saving when they're young so they can reach retirement age earlier than their peers - seemingly the opposite of the 'soft saving' trend.

And now Mia, whose aim is to retire at the ripe age of 40, has revealed all the ways she’s made cuts on her spending to amass £75,000 in savings so far and inch closer towards her retirement goal.

Speaking to her 94,000 followers, Mia revealed that her day starts off thrifty with a humble breakfast of scrambled eggs on half a bagel slice.

She said: “I eat a 50p breakfast everyday so I can retire by 40.”

With a savings pot like hers, it’s no surprise that Mia's, let's say... cautious habits, form are a key part of her savings approach.

She also goes on to detail all the other ‘luxuries’ she cuts out of her life to push closer towards her savings goals, as the 24-year-old continued: “It means hustling extra hard in my 20s and cutting back on things like daily coffees and getting my nails done.

“But it also means at 45, I won't have to ask my boss for a random Wednesday off, I'll just take it.”

Mia, who works in fashion sales, has made it clear her pursuit of ‘financial freedom’ isn’t because she hates her career.

For the influencer, it’s all about being able to ‘soft retire’. This, she explains, means having the ‘freedom to support myself while working less’.

So the goal isn’t to totally retire, but rather to have the luxury to choose how much she works and on what projects.

Currently, Mia is striving towards her first milestone goal of achieving £100,000 (I wish), but has worked out her ultimate 'FIRE' number as £1.25 million, which is basically how much she thinks she needs to make before she can be financially ‘free’.

Alongside her frugal lifestyle, she also saves money through her side hustles, which include modelling and making social media content.

But obviously this alone isn’t enough to accumulate her £1.25m goal. Instead, the largest creator of her wealth comes from her stock investments.

While Mia’s privileges aren’t lost on her (for example, being able to live rent-free at home), she has come under scrutiny from some of her fellow Gen Zers about her lifestyle choice.

One TikTok user commented: “Enjoy your youth, when it’s gone it’s gone.”

While another added: “The sad thing is our future is never guaranteed. I truly believe that you should live in the moment. Sadly known too many people not to make retirement regardless of the age.”

However, others celebrated Mia’s lifestyle, with one commenting: “This is the goal.”