FIRE movement
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The FIRE (Financial Independence, Retire Early) movement is a movement whose goal is financial independence and retiring early. The model is particularly popular among millennials, gaining traction through online communities via information shared in blogs, podcasts, and online discussion forums.[1][2][3][4][5]
Those seeking to attain the goals of FIRE intentionally increase the rate by which they save their income through simple living or generating secondary and passive streams of income. The goal is to save an amount for which the interest generated from investments provides enough money for living expenses in perpetuity. Proponents of the FIRE movement suggest the 4% rule as a guide, thus setting a goal of at least 25 times estimated annual living expenses. The intention is to allow for retirement from traditional work decades earlier than the standard retirement age.
There is limited peer-reviewed literature on the effects of extreme early retirement.[6]
Documentary
Playing with FIRE is an upcoming documentary about the FIRE movement, funded through Kickstarter.[7]
References
- ^ Brenoff, Ann (2018-04-24). "7 Things You Can Learn From The FIRE Movement". Huffington Post. Retrieved 2018-07-07.
- ^ Wong, Kristin. "The Basics of FIRE (Financial Independence and Early Retirement)". Two Cents. Retrieved 2018-07-07.
- ^ "Young People Say Screw It, Retire in Their 30s". Free. 2018-06-05. Retrieved 2018-07-07.
- ^ "Initial r/FIRE Survey Results: Quick and Dirty Summary Statistics". Supply Chen Management. 2018-04-08. Retrieved 2018-07-07.
- ^ Avenue, Next. "What 30-Year-Old Retirees Can Teach The Rest Of Us". Forbes. Retrieved 2018-10-22.
- ^ "A Growing Cult of Millennials Is Obsessed With Early Retirement. This 72-Year-Old Is Their Unlikely Inspiration". Money. Retrieved 2018-10-22.
- ^ "The Documentary". Playing with FIRE. Retrieved 2018-10-22.
Further reading
- "Retire early? You need 'at least $5 million,' according to Suze Orman". Market Watch. 3 October 2018. Retrieved 3 October 2018.
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