Retirement is often characterized as a time to relax and enjoy the finer things in life. But do you really want to wait until you’re in your 60s or 70s to enjoy that lifestyle? Not everyone does. And they are joining a new movement called FIRE. This stands for “Financial Independence, Retire Early.” But it comes at a cost.
The FIRE movement revolves around intense saving, investing, and budgeting in order to earn enough money to retire far before traditional retirement age. Some FIRE participants save and invest 50 to 75 percent of their incomes and make certain sacrifices when it comes to spending.
