What is this FIRE movement about?
What Is this FIRE Movement that everyone is talking about?
If you’ve been watching the financial headlines, chances are good you’ve heard of FIRE. It stands for “Financial Independence Retire Early.”
There are a lot of misconceptions about what you have to do to be part of the movement—and things you can learn even if early retirement is the last thing on your mind.
But in general, FIRE is associated with living frugally, aggressively accumulating money during one’s working years, and amassing enough to live off your wealth way before the official retirement age.
LESSON NO. 1: YOU’RE NEVER TOO YOUNG FOR LIFE SATISFACTION
You are never too young to start planning for anything. Simple as that.
LESSON NO. 2: RETIRED DOESN’T MEAN NOT WORKING OR NOT EARNING
Most of the rich people i know do not plan to stop working at all and/or at least they have other income streams apart from their daily full-time job. Always keep your brain active or else you will become senile at a younger age. It's a fact.
LESSON NO. 3: PERHAPS THE MOST ENTICING THING ABOUT FIRE IS THE ELEMENT OF CONTROL
When you have the option to retire, even if you don't plan to stop working, you are still the one in control of your life decisions and not the other way round. If you are always strapped for cash, your money is the one making decisions on whether you can or cannot for majority of the things you do.
To achieve FIRE is to become so financially self-sufficient that you no longer need to work to earn an income. You are able to live off your own wealth.
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