It’s considered either a “fantastic new idea” or “the path to financial ruin.” There’s a controversial new and growing trend relating to retirement called FIRE, Financial Independence Retire Early. It’s a movement, largely supported by millennials, promoting the idea of living frugally while saving up to half of your income early in your career, then retiring in your mid 40’s. I discuss the FIRE concept and look at the possible benefits and many problems connected to this very different type of financial life plan.
Episode #176 – FIRE: Ingenious Retirement Idea or Harebrained Scheme
March 15, 2019