Relocating abroad can seem like a big decision, especially when your goal is Financial Independence, Retire Early (FIRE). But for me, moving to the U.S. was a game-changer—not only for my career but for my finances as well. In fact, this move has helped me slash my expenses and even hit a significant financial milestone. Here’s how it happened.
The Rent Dilemma
Before relocating to the U.S., one of my biggest expenses was rent. Housing is a fixed cost, and unless you’re willing to make drastic lifestyle changes—like moving back in with your parents—there’s not much flexibility to cut it down. While budgeting for rent can seem like a dead-end, my relocation changed the game entirely. My company offered me an opportunity to move to the U.S. and, with it, a full relocation package that took care of my rent, utilities, and even transportation. Suddenly, the biggest chunk of my monthly expenses was covered.
The Power of a Relocation Package
The company I work for didn’t just pay for my boarding and transportation—they covered everything. From my flights, visa to tax advice before making the move, every detail was thought through. My colleague, who moved with me, even had her apartment cleaned out and her belongings shipped back to Perth. Fortunately for me, I didn’t have as much to worry about since my parents were only 15 minutes away before the move.
This complete relocation package allowed me to save money I would have otherwise spent on moving logistics, housing deposits, and rent. It was the ultimate FIRE hack—keeping my living costs minimal while continuing to earn.
The U.S. Cost of Living Paradox
Now, don’t get me wrong—the cost of living in the U.S. is generally higher than in Australia. But here’s where things get interesting: I receive a monthly food allowance that covers almost all of my living needs. It’s a significant perk that ensures my day-to-day expenses remain low.
Moreover, I made a strategic financial choice. I opted not to contribute to the 401(k) retirement plan here in the U.S. (though it comes with tax advantages), and since I’m earning in the U.S., I’m no longer obligated to contribute to my Australian superannuation. Instead, I’ve focused on actively investing outside the traditional retirement accounts.
This approach allows me more liquidity and control over my investments, even though I’m forgoing some long-term tax benefits.
Hitting My First FIRE Milestone: A $1M Net Worth
One of the most exciting outcomes of this move? I hit a net worth of $1 million. Reaching that milestone felt both exhilarating and humbling. It’s rewarding to see years of work and discipline pay off, but it also made me reflect on what financial independence truly means.
Despite having a seven-figure net worth, I still don’t feel completely “free.” It’s a reminder that numbers on paper don’t necessarily equate to a lifestyle of absolute freedom.
There’s always more to consider when it comes to FIRE—especially lifestyle flexibility and financial security.
Conclusion
Moving abroad isn’t the solution for everyone, but in my case, it’s been an incredible boost to my financial journey. With most of my living expenses covered by my employer, I’ve been able to save more, invest smarter, and hit major financial milestones faster than I would have in Australia.