Dr. Lakisha Simmons, an author and single mother of two children, saved $750,000 in four years and is on the road to be a millionaire by the end of 2022. However, this wasn't always her reality. The Nashville, Tennessee resident once described herself as "house poor."
Growing up, Simmons followed the "American Dream" path until she realized it wasn't the dream it was sold to be. "I was doing all the things that you're taught you're supposed to do: Go to college, get a good job, a nice car, house, get married, and have kids," she told xoNecole.
But that path led her to hit rock bottom. After a divorce in 2016, her finances were being used to keep up with a lifestyle that no longer satisfied her and left her feeling depleted. "It was completely draining me," she said.
"My money was going into the house and utilities with $300 a month. The lawn care was $150 every two weeks. I'll never forget. I was in this huge house that was supposed to be a happy home, yet I was broken and cried my way into the new year in 2017."
After hitting rock bottom, she knew there was nowhere left to go but up. She started asking herself questions about her finances such as: What can I do to grow my money? What can I do to be financially independent?
After being honest with herself and researching, she discovered a solution that would change the trajectory of her life: the FIRE Movement, which is an acronym for Financial Independence Retire Early.
Courtesy of Lakisha Simmons
For adopters of the FIRE Movement lifestyle, the intention is to save and invest in extreme amounts over a short period of time with the goal being to retire early as a result. Lakisha explained:
"I focused on the idea of financial independence by saving up 25 times my annual living expenses and I will live off of 4% of that lump sum."
Simmons is now teaching people through courses and workbooks about her financial freedom journey and how the FIRE Movement put her on a path to becoming a millionaire.
"I've consistently invested 60% of my income and proceeds from my workbook to help women learn how to skills to make themselves more marketable in The Unlikely AchieveHer. Not having to 'work' to pay my bills and live a comfortable lifestyle is a stress-free way to live so it isn't difficult for me to cut back on some luxury items here and there in order to invest more money. I have more choices on how I spend my time and that's what life is all about," she added.
If you're ready to level up your finances in 2021 and expand your mind to what is financially possible for you, then here are the steps Simmons recommends.
1.Reduce Your Expenses
Courtesy of Lakisha Simmons
One of the first steps Simmons took was selling her home. Even though the appearance of it was nice, she knew she no longer needed it for where she wanted to go. This decision allowed her to save $12,600 a year, according to Business Insider. To slash your expenses, you should look at where your money is going line by line in your budget, and identify areas you can cut back on.
- Cut your grocery bills by considering Aldi (gluten-free, organic, and fresh produce options available).
- Cut your phone bill by switching to Mint Mobile - plans start at just $15 a month. Simmons says she's been a customer for years.
- Shop around for auto and home insurance every two years.
- Don't be afraid to downsize, don't be ashamed.
Ask yourself what you truly value, and determine the expenses holding you back that can go. No need to keep up with Joneses!
2.Invest. Invest. Invest.
Simmons highly encouraged women at any age to start investing. "It's not as scary as it seems," she said.
Adding, that a common fear she noticed was that people believed they would "lose all their money in the stock market." She explained that you should calculate your risk in the stock market and allow your money to sit, grow, and mature.
"We're going to plant a seed out of our 401k this year, and in five years, seven years, 10 years, that seed will be fully grown in blossom and harvest into a nice lump sum."
If your employer doesn't contribute to your 401k, she went on to explain what it's still important to contribute:
- Your contributions are tax-deferred which means you get to invest the money pretax. That actually allows you to save money that isn't taxed and lowers your taxable income on your paycheck.
- Compound interest is your friend. Over the years, the stock market's compound interest is working for you growing your money even if you stop contributing new funds.
3.Maximize Your Retirement Accounts
Courtesy of Lakisha Simmons
One of the main challenges Simmons sees among women is that they are not taking advantage of their tax-deferred retirement account at work.
"That's how I built most of my wealth," she said. She noted that she has a 457(b) through her employers. A 457(b) plan is an employer-sponsored, tax-favored retirement savings account. With 457(b) plans, you contribute pre-tax dollars, which won't be taxed until you withdraw the money.
"The benefit of the 457 is as soon as you leave that workplace, you can start accessing that money. So it's perfect for people in the FIRE Movement because I'm planning to retire early. I can go ahead and start using my 457 as soon as I decide."
One of the biggest challenges she had to overcome was her mindset and belief that she could do it. She encourages women to find community. Simmons offers a free Facebook group people can join and courses and coaching opportunities for people ready to dive in.
Looking back on her financial journey, she can't believe how far she's come, and if she could tell her younger self anything, it would be to be fearless.
"I would tell her to be fearless, set a stretch goal for yourself. Because anything that you put out in the atmosphere that you want, you can have it as long as you believe you can have it," she said.
For more of Lakisha, check out her website.
Featured image courtesy of Lakisha Simmons
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Pluto goes retrograde in Aquarius from May 4 until October 13, and this will be a time of remembering your power when it comes to your purpose, innovations, and the ability to attract support into your life. Mercury moves into Taurus on May 10, making this a good time for negotiations, creating new plans financially, and sticking to your word on something that holds value to you. The Full Moon of the month occurs in Scorpio on May 12, and this is the Flower Moon of the year, signifying growth and seeing the beauty in your life.
This Full Moon is all about letting go of what doesn’t feel authentic or resonate with you emotionally, and about experiencing more closure and healing within relationship matters.
Your May 2025: A Monthly Overview
Gemini Season officially begins on May 20, and we enter air sign energy, which is good for communication, business, and coming up with inspiring and new ideas. On May 24, Saturn enters Aries, beginning its new transit where it will remain for the next few years. Saturn in Aries is bold, direct, and straightforward, but so are its lessons. There is a gift in resilience and finding your strength during this time, and this transit will show you where your power is, but it may challenge you to confront self-limiting behavior in the process.
Mercury enters Gemini on May 25, and Mercury loves being here. Mercury in Gemini is the creative genius, and this is a month of aligning yourself with this energy. On May 26, we have a New Moon in Gemini, and it’s time to set your intentions for where you want a communication breakthrough in your life, and what new ideas you want to start planting the seeds for. This is a good New Moon for networking, exchanging ideas, having more fun, and getting inspired.
Article continues after the jump.
We Are/Getty ImagesMay 2025 Horoscopes for Every Zodiac Sign
Keep reading for your sun, moon, and rising sign below to see what May has in store for you.
ARIES
AriesKyra Jay for xoNecoleThe impact from April is finally behind you, and you get to move forward this month, Aries. After a month of retrogrades and Eclipses, you are starting to see the progress of what you have been working towards financially this year. The Sun is in your 2nd house of abundance, self-confidence, and values this month, and you are putting your dreams here first.
With Venus also in Aries for the entire month of May, you are feeling the support within and without this month, and this is a beautiful month unfolding.
On May 24, Saturn enters your sign, beginning its transit in Aries, which will last for the next few years. Saturn is the master of tough love, and you are going to be learning a lot about yourself during his time and going through a growth spurt. The New Moon of May is at the end of the month on May 26 and will be giving you the answers and clarity you have been looking for, highlighting open communication in your life. Overall, this is your month of fewer obstacles and more progress.
TAURUS
TaurusKyra Jay for xoNecoleTaurus Season is officially underway, and you are the main character right now, Taurus. Remember that. This month is about trusting your intuition and the timing of things, and knowing that things are working in your favor. With Venus, your ruling planet, in your 12th house for the month, you are seeking a lot of closure and culmination right now and are healing what was. Mercury enters your sign from May 10 until May 25, and it’s all about the perspectives you are gaining right now.
Don’t be afraid to ask the important questions and get down to the bottom of things that have been worrying you. On May 12, there is a Full Moon in your 7th house of partnership, and you are closing the door on what has not been working for you in love. You are seeing the clarity of what you need within your emotional world and how you want to navigate the changes you have been through here now.
GEMINI
GeminiKyra Jay for xoNecoleMay is a new beginning for you, Gemini. You have a lot of energy and vitality with you this month, and you are ready to accomplish some personal goals and intentions of yours. For most of the month, the Sun is in your house of closure and healing, and you are finding yourself rejuvenated from the transformations you have been through. Gemini Season officially begins on May 20, and with the Sun in your sign, nothing is holding you back from shining and living in your truth right now.
On May 25, Mercury enters Gemini until June 8, and Mercury loves being in your sign, as this is your planetary ruler.
Mercury in Gemini is forward-thinking, quick, and intelligent. You are coming up with solutions to previous challenges or obstacles, and overcoming something that has felt restrictive mentally. Before the month ends, there is a New Moon in Gemini on May 26, and this New Moon is one of the best times of the year for you to set your intentions and manifest your dreams. Remember you are worthy of what you are setting out to accomplish this month, Gemini.
CANCER
CancerKyra Jay for xoNecoleCancer, this month requires you to slow down, take care of your health, and allow things to come to fruition the way they are meant to. There is a chance you could be overthinking more than usual this month, and you are being reminded that there is only so much that is in your control, and to give yourself some more grace. The Full Moon in Scorpio on May 12 will help you gain a little more clarity of the heart and is going to be a time of feeling the love and appreciation in your life.
Saturn enters your 10th house of career on May 24, remaining here over the next few years, and you are getting an opportunity to grow and discover where you may have been limiting yourself professionally, socially, or within your aspirations in life. This time is all about reminding yourself that you deserve recognition for the work you do, but that you must also be the one believing in yourself as well. On May 12, there is a New Moon in your house of emotional healing, and you are seeing the gifts of alone time, safe spaces, and tending to your creative inklings at the end of the month.
LEO
LeoKyra Jay for xoNecoleThis month is an opportunity for a new beginning in love and progress within your emotional world, Leo. You are learning to trust your intuition more, and you are putting more of your energy into your heart’s desires. With the Sun in your 10th house for most of the month, you are shining in your truth and remaining confident in your goals in life.
Venus is in your house of adventure for the entire month, and this is a good time for experiencing romance while traveling or getting out of your comfort zone a little.
Saturn makes a significant move from Pisces into Aries at the end of the month and enters your 9th house. With Saturn here, you will be learning more about what mental growth and clarity mean to you, and this is a good time to dedicate yourself to higher education, traveling, gaining a new perspective, and honoring your integrity and values. The New Moon of the month is on May 26, creating magic within your friendships and community.
You are leaving this month with hope in your heart and new plans for the future.
VIRGO
VirgoKyra Jay for xoNecoleMay is a month of abundance and fruition for you, Virgo. Your dreams and intentions are coming to fruition, and you are owning that which you have created for yourself. With Venus in Aries, this is a good time for seeing support in your life financially, dedicating yourself to your commitments and responsibilities, and seeing the gifts in that. On May 12, there is a Full Moon in your 3rd house of communication, and this is an intuitive time for you, giving you the strength needed to close the chapter on what you don’t resonate with anymore.
On May 24, Saturn enters your house of shared finances, rebirth, intimacy, and resources, and over the next few years, you will be learning the importance of connecting with people who truly have your best interest at heart, and not committing to what feels unstable. Before the month ends, we have a New Moon in Gemini in your house of career, and this is a good time to manifest and set your intentions for where you want to see professional growth in your life.
Overall, May is about embracing your freedom while honoring the people and connections that help you grow and make you feel more secure in life.
LIBRA
LibraKyra Jay for xoNecoleThis is a month of feeling empowered and ready to take on anything that comes your way, Libra. You are inspired by the progress you are making in your life right now, and with Venus in your 7th house of love, you are being well-received. This is a month of finding your balance between your path and the growth of your relationships, and there is a sense of support, harmony, and love in your life in May.
You are owning your authenticity and living in your truth fully, and this energy is magnetic.
However, Saturn also enters your 7th house of love this month, where it will remain for the next few years. Saturn empowers and helps you grow, but you can also feel a little more challenged within your relationships during this time. The more you can own your wants and needs, the more you can find vulnerability and support within your relationships. On May 26, a New Moon in a fellow air sign occurs and happens in your 9th house, creating a chance at a new adventure and an opportunity to discover some new inspiration.
SCORPIO
ScorpioKyra Jay for xoNecoleMay is about believing in the impossible, Scorpio. It’s time to take a leap of faith in yourself and to remember your power. You are seeking a new beginning in your life, and with the Sun in your 7th house of love for most of the month, you are being supported and encouraged in the process. Pluto, one of your ruling planets, goes retrograde in your house of home and family from May 4 until October, and you are gaining clarity on the people and support systems you can rely on more.
The Full Moon of the month is in your sign on May 12, and this is the Flower Moon of the year. You are in full bloom and ready for whatever is next for you, and this is beautiful. Previous intentions and goals come to fruition for you overall in mid-May, and there is a lot to look forward to right now as you are getting excited about it all. Before the month ends, we have a New Moon in Gemini in your 8th house, creating a sense of empowerment through what you are looking to change and transform in your life right now.
This month is about not being afraid to take more risks and doing things your own way.
SAGITTARIUS
SagittariusKyra Jay for xoNecoleMay is a beautiful month of magic, success, and good fortune, Sagittarius. You are feeling lucky this month and are attracting success to you in many different areas of your life. Venus, the planet of love, is in your 5th house of romance for most of the month, and you are enjoying your life, feeling the love within your heart, and expressing yourself freely in May. You are a magnet for your manifestations, and dreams are coming true for you this month, Sag.
On May 12, we have a Full Moon happening in your house of endings and closure, and you are closing out a big chapter in your life this month.
You are letting go of old pain or emotional experiences and choosing not to repeat a pattern that left you feeling hopeless before. On May 26, we have a New Moon in your sister sign, Gemini, enhancing your need for love, connection, and relationship development this month. This is a great New Moon to set your intentions for what partnerships you want to see grow, heal, and come to fruition for you. Overall, May is your month of fruition, balance, and believing in the magic in your life.
CAPRICORN
CapricornKyra Jay for xoNecoleMay is about slowing down and allowing yourself to find the answers you have been looking for, Capricorn. This isn’t the time to rush your progress or doubt where you are in life. The Sun is in your 5th house, and this is good for finding more time for fun, pleasure, self-care, and asking your heart what it needs. With Pluto going retrograde in your 2nd house of values and income, you are being reminded to hold yourself with integrity and to know that you are worthy of the things you are asking for.
The Full Moon on May 12 is a beautiful time to connect with loved ones or those who inspire you. The universe wants to show you that you are not alone this month and that you deserve to live a life where you can enjoy yourself more and manifest your dreams, rather than believing everything needs to be a challenge to be worthy. Saturn, your ruling planet, then enters your 4th house of home and family, and over the next few years, you are going to be rediscovering what home means to you.
AQUARIUS
AquariusKyra Jay for xoNecoleYour guidance for May is to trust that what is falling from your life or changing for you is doing so for your benefit, Aquarius. Trust that what is happening is happening for you and not to you, and don’t doubt that you will rebuild from this. With Pluto going retrograde in your sign from May 4 until October 13, you need a break from some of the confusion you have been feeling in your personal life, and you are getting a chance to gain a new perspective this month.
Use this time to get inspired by change rather than let it bring you down, and ground yourself in the present moment more.
Saturn enters Aries in May, where it will remain for the next few years, helping you grow in the areas of your life that have to do with communication, networking, transportation, siblings, and education. You will be learning a lot during this time and will be finding new outlets for self-expression and communication. Before the month ends, we have a New Moon in Gemini occurring in your 5th house of romance, pleasure, hobbies, and entertainment, and after a month of navigating endings, changes, and closures, you are ready for a fresh start and are receiving one in love now.
PISCES
PiscesKyra Jay for xoNecoleAllow what is to be, be, Pisces. May is a month of allowing yourself to trust the timing of the universe and not giving up hope that things are going to turn out beautifully for you. On May 12, there is a Full Moon in fellow water sign, Scorpio, and this is a time to get inspired and see the benefits of closure. This Full Moon is about gaining a new perspective and not doubting what is clearer to you now, that you are worthy of a new beginning.
On May 24, Saturn moves into your 2nd house of income, and you are going to be moving through a journey of developing financially, and working on maintaining stability while building new foundations in your life. The New Moon in Gemini at the end of the month is about setting your intentions for your home and family life and creating some new energy here. Overall, May is your month of breaking ground on the things you want to create for yourself and trusting the timing of how things are unfolding.
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Featured image by Kyra Jay for xoNecole
