Cody Berman’s income more than quadrupled in three years while his spending barely changed, a widening gap that he says was the key to achieving financial independence before turning 26. The author of Retire by 30 and host of The Financial Independence Show explained that his path to FIRE was built on two levers: keeping expenses low and growing income.
After college, Berman cut housing costs by living with roommates, paying just $450 a month. Later, he house‑hacked a multi‑family property, turning housing into a source of cash flow. Between 2019 and 2021, he lived comfortably on about $2,000 a month, avoiding car payments and making intentional spending choices.
Financial Independence
At the same time, he pursued side hustles ranging from digital products to real estate and personal‑finance education. His ventures grew rapidly: $96,000 in 2019, $198,000 in 2020, and $403,000 in 2021, while his annual spending stayed at $24,000. The result was a $625,000 gap, much of which he invested in index funds and property.
By late 2021, Berman had $500,000 in stocks, 13 rental units generating $3,700 monthly, and a digital‑products business earning over $10,000 a month — marking his financial independence milestone.
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