I Don’t Believe in F.I.R.E. for Early Retirement

Here’s why the F.I.R.E. movement doesn’t apply to the modern world.

Photo by Jp Valery on Unsplash

Retiring early is something all of us would love to do. Making a plan to retire in ten years, especially when you’re in your 20’s or 30’s, sounds ideal. Heck Yah!

There is a movement that’s been around for a long time that caters to this idea. It’s the F.I.R.E. movement.

F.I.R.E. stands for ‘Financial Independence, Retire Early.’

F.I.R.E. has been around a long time, since 1992, when the book “Your Money or Your Life” first came out by Vicki Robin and Joe Dominguez.

The idea is to minimize your living and stash away 50–75% (or more) of your money into long-term savings and investments. After ten years, you should be ready to retire for the rest of your life.

People who practice F.I.R.E. admit that it’s not easy. The demand of saving most of your income takes a lot life sacrifices to accomplish early retirement. Most people can’t do it for a long time. But, if you’re motivated enough and ready for the long haul of living a pauper’s lifestyle, you can can become financially free and retired at an early age.