A millennial FIRE couple shares how moving abroad and living on a $50k income helped them quadruple their net worth to $700k in 6 years

• A millennial couple grew their net worth to over $700,000 from $150,000 in 2018.

• Living abroad and only spending one of their incomes, which is $50,000, helped boost their finances.

• Brian Davis shared why his goal isn't to retire early but to pursue his dream work.

About two decades ago, before he'd ever heard of the FIRE movement, Brian Davis decided to pursue financial independence and an early retirement.

He began investing his savings in rental properties, thinking that if he owned enough of them, he'd eventually be able to live off the rental income alone, the 43-year-old told Business Insider via email.

But this didn't go according to plan. He hated being a landlord, and some of the investments proved to be less profitable than he'd expected. The idea of retiring ahead of schedule seemed like it could be out of reach, so he decided to explore other options. Today, he runs a digital real estate investing platform.

However, in the years since, a lot has changed for Davis — both from a financial and philosophical perspective. For one, he's grown his net worth to more than $700,000 as of May from roughly $150,000 in 2018, according to documents viewed by BI.

Davis and his wife have aimed to live entirely off of his wife's roughly $50,000 a year school counselor salary while saving and investing all of his income, which comes primarily from a real estate business he cofounded in 2016 — he said their annual household income is around $150,000. This saving strategy has been key to boosting their finances.

Davis's financial goals have also evolved. After learning more about the FIRE movement — a financial lifestyle aimed at saving enough to become financially independent and retire before the traditional retirement age — Davis said he discovered that most people who managed to retire early eventually got bored of "sipping margaritas on the beach" and returned to work in some form. Rather than early retirement, Davis said his current goal is to live his ideal life, and he thinks remaining in the workforce can help him accomplish this.

"I have no plans to retire, but I do hope to reach financial independence within the next five years," he said. "The less you worry about money, the more your work opens up to be fun, creative, and without limits on opportunities."

While many Americans are having trouble saving for retirement, some are putting themselves in a position to stop working ahead of schedule through various savings and investment strategies. However, not all of these people are aiming for an early retirement. Some people, like Davis, want to continue working as they pursue financial security. But not just any kind of work: They want to spend their time on work that they enjoy or find fulfilling.