Can You Retire Early With Less Than $100K? Here Are 5 Money-Making Moves

Steps to Achieve Early Retirement Without a High Income

Retiring early might seem like a distant dream, especially if you don’t have a six-figure salary. However, with the right strategies and discipline, it’s entirely possible. According to the 2025 EBRI/Greenwald Research Retirement Confidence Survey, about 60% of American retirees entered their golden years before turning 65, with a median retirement age of 62. Still, only one in 10 Americans retired before 55, highlighting the challenges of retiring at a younger age. If you're aiming to join this group but don't have a high income, you'll need to make some smart financial moves and possibly a few sacrifices.

Work with a Financial Advisor

One of the most effective steps you can take is to work with a financial advisor. Industry studies have shown that professional financial advice can add up to 5.1% to your portfolio returns. Advisors can help you navigate complex topics such as tax efficiency strategies, optimal retirement withdrawal timing, and suitable investments for your goals and risk tolerance.

FinancialAdvisor.net can support you in shaping your financial future by connecting you with expert guidance. A trusted advisor helps you make smarter choices for your retirement and ensures you stay on track with your money objectives. By answering a few questions, the extensive online database will match you with two to three vetted advisors based on your answers. You can view the advisors’ profiles, read past client reviews, and schedule a free consultation with no obligation to hire.

Make Two Budgets

Budgeting is a key financial tool that helps you understand your current finances, rein in your spending, and shape your financial plan accordingly. Tracking your expenditures against your budget can even reveal new avenues for saving. Monarch Money is a money management platform that helps you budget, track spending, set goals, and plan your financial future within one app. For a limited time, you can get 50% off your first year with code MONARCHVIP.

The budgeting process is also an opportunity to ensure you’re paying the best rates for monthly necessities, like insurance. OfficialCarInsurance.com makes comparing multiple insurance companies easier than ever. They’ll ask you some quick questions then sort through leading insurance companies in your area, ensuring you find the lowest rate possible. The process is 100% free and won't affect your credit score. Similarly, OfficialHomeInsurance.com can help you get great rates to protect your home. All it takes is two minutes for them to comb through over 200 insurers — for free — to find the best deal in your area.

After tracking and assessing your budget over a few months, you can use that data to estimate your future retirement budget — setting a clear target. You’ll want to review this retirement budget periodically and make adjustments as needed.

Automate Your Investments

To join the Financial Independence and Retire Early (FIRE) movement and retire in your 30s or 40s, you may need to save more than the 15% that's often suggested. When it comes to retiring early, that number might end up much closer to 75% of your income. Automating your investments is an easy way to make that process happen in the background, without much extra thought.

You can make 401(k) contributions directly from your paycheck, but you can also set up direct deposit into a high interest savings or investment account. Another creative way to save while spending is to make the most of your everyday shopping by automatically investing your spare change with Acorns. The app automatically rounds up your everyday purchases to the nearest dollar and invests the difference into a diversified portfolio. This means that every transaction — from your morning coffee to grocery shopping and travel — contributes to building your savings.

Manage Your Debt

If you're carrying a large balance on a credit card or any other high-interest debt, it will be hard to retire early. The savviest move is not to carry a balance at all, but life happens, so if you do have one, paying it down should be your top financial priority (along with building an emergency fund). If you have substantial equity in your home, consider consolidating your debts and paying them down with a HELOC. A HELOC is a secured line of credit that leverages your home as collateral. Depending on the value of your home and the remaining balance on your mortgage, you may be able to borrow funds at a lower interest rate from a lender as a form of revolving credit.

LendingTree’s marketplace connects you with top lenders offering competitive HELOC rates. Instead of going through the hassle of shopping for loans at individual banks or credit unions, LendingTree lets you compare multiple offers in one place. This helps you find the best HELOC for your situation. If you don’t own a home, there are other ways to consolidate your debt. For instance, Credible can help with loan consolidation by letting you shop around for lower interest rates with just a few clicks of your mouse. In just two minutes you can compare lenders willing to consolidate your loans into one easy-to-manage payment.

Even if you're just curious about your options, checking rates on Credible could be a good idea. It won't hurt your credit score, it’s totally free, and it could save you a bundle.

Maximize Your Biggest Asset

Your biggest asset is likely your stream of future earnings, so to retire early you’ll want to maximize this asset. While you could consider a side hustle or second job, look first at your current job and evaluate whether your time and energy might be better spent on developing your career to increase your future income stream. Consider whether you could make more from extra sales, a raise, or a promotion — or if it makes more sense to take on a side gig.

Yes, retiring early takes planning and dedication, but not necessarily a six-figure income. With the right strategies, you can still achieve your goal of retiring early.