Why Retiring Early Doesn’t Work for Everyone
The average age for retirement in the U.S. is about 61-years old. For many, this is perfectly fine but for some, retirement can't come soon enough. Those who seek to retire decades before their parents have begun a new movement in which financial independence is valued higher than almost anything else. Known as the Financial Independence Retire Early (FIRE) movement, participants use high levels of savings and investment to become financially independent at an early age.
The FIRE movement suggests you save upwards of 70% of your income. In order to accomplish this, FIRE advocates preach living well below your income level by cutting as many expenses as possible and living without the extra money usually spent on things like your coveted Netflix subscription.
Image source: Getty Images
Source Fool.com
