Considering the rise of inflation and high cost of living, money is now becoming a concern for many people these days. Everyone longs to earn more in less time to enjoy their life which doesn't seem to happen with most people. However, there are a select few who have decided to work on financial independence and retire early, which is essentially the growing fire movement retirement plant to get the most out of their life.
What Is Fire Movement Retirement?
The term Fire Financial or Fire Movement stands for financial independence retire early. It was first coined in the 1992 best-selling book Your Money or Your Life by two financial gurus, Vicki Robin and Joe Dominguez.
For those who don't want to work till 65 or 70 years old, follow the principles of fire financial independence and retire early for an early yet tension-free retirement.
The goal here is to save and invest as much as possible for the time of retirement. Followers of fire retire early aim to save around 50-75% of their income from retiring in their 40s.
The FIRE (Financial Independence, Retire Early) movement has gained traction as a lifestyle approach focused on achieving financial freedom and early retirement. Followers of the FIRE movement prioritize saving aggressively, investing wisely, and living frugally to amass a sufficient nest egg to sustain their desired lifestyle without relying on traditional employment. By adhering to principles of minimalism and frugality, individuals aim to achieve financial independence sooner rather than later, granting them the freedom to pursue their passions and interests. The FIRE movement emphasizes the importance of financial literacy, smart investing, and intentional living, inspiring many to rethink their approach to work and money in pursuit of a more fulfilling and autonomous life.
But wait…
It's not as easy as you think. People following fire movement retirement are bound to keep their expenses extremely low to save maximum for early retirement.
Therefore, the fire movement retirement might not be a practical solution for all as it demands huge savings, which are only possible by earning large pay cheques. Only two types of people can practically work on the fire movement retirement:
Those who have just under a six-figure salary
Those who can keep their expenses extremely low
People of both categories need dedication and a practical approach to successfully become fire movement retirement followers. You can make this journey much easier by keeping a record of your progress through our Financial Independence Retire Early Digital Workbook. This 68-page ebook will guide you in:
How to make money
How to save money
How to budget money
How to build passive income with Dividend Stocks (RETIRE EARLY)
Due to the way this workbook is set up, you can move at your own pace. It's crucial that you take the time to finish each worksheet before going on to the next. This is because each one builds upon the previous - the later spreadsheets use the data and computations from the earlier ones. The aim of this workbook is to create your own unique written FIRE plan. You can keep track of your FIRE journey using this notebook on a daily, weekly, or monthly basis.
The best part is that we offer you reselling rights for a small fee if you wish to resell this digital workbook. What are you waiting for? Start planning your early retirement now.
References:
The Fire Movement Summed up in 9 Words - Time Magazine 8 Retirement Tips Everyone Can Learn From the FIRE Movement - NASDAQ
Here's How I Quit My Job at 33 & Moved to Cincinnati with $300,000 - CNBC
FIRE Hype - Want to Retire Early - Not so Fast - CNET