Darren Thedieck, a 31-year-old member of the U.S. Air Force, joined the military at the age of 18 with the goal of achieving financial stability while also being able to travel the world. Throughout his 12-plus years in the Air Force, Thedieck has been able to live in various countries such as England, South Korea, Germany, and his current posting in Aviano, Italy. He has steadily risen in rank and pay, bringing in about $110,000 annually. Thedieck has also been working towards a degree in finance and teaches personal finance classes to other servicemembers.
Thedieck has managed to save and invest a significant amount of money. He has over $500,000 invested for retirement and plans to reach $1 million in the next five years. A key factor in his ability to save is the tax advantages offered by the military, where a large portion of his income comes in the form of non-taxed allowances. Thedieck is also making use of military tuition assistance to pursue his bachelor’s degree in finance.
Thedieck has also been able to help his wife, Naudia, manage her finances. When they met in Germany in 2021, Naudia had significant debt. Together, they made a plan to cut expenses and aggressively pay down her debt. By the time they got married, they were debt free. They recently welcomed their first child and are focused on growing their investments and planning for the future.
Thedieck and his wife have monthly budget meetings to track their spending and saving. They live in Italy, where the cost of living is relatively affordable compared to the United States. However, moving to a single income has required them to be more intentional with their finances. They prioritize savings and investments, allocating a significant portion of their income towards their retirement accounts.
Thedieck is aiming for Financial Independence Retire Early (FIRE), with the goal of achieving financial independence and early retirement. He currently invests $1,300 a month in a taxable brokerage account and $930 in his Thrift Savings Plan. Once Thedieck retires from the military at age 38, he plans to focus on his online finance business while being a stay-at-home dad. The couple hopes to live in Europe after retiring and explore various countries with their children.
Overall, Thedieck’s story highlights the importance of financial planning, saving, and investing for the future. His focus on financial literacy, budgeting, and goal-setting has allowed him to achieve significant financial milestones while also living a fulfilling life with his family. The journey of Darren Thedieck serves as inspiration for young individuals looking to achieve financial stability and freedom through careful planning and diligence.
