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FIRE Movement!

La Crosse, WI, United States / Eagle 102.7
FIRE Movement!

We’ve all heard of those “How to retire early” schemes and here comes another method that apparently worked for a Colorado man. Not thinking that he could bear another 25 years until retirement, he tried what’s called the “FIRE” Movement for gaining financial independence. At age 43, he retired after using the “Financial Independence, Retire Early” method. It basically boils down to socking away 50 to 70% of your income. His family moved into a more modest house, reduced expenses and saved a huge portion of their income over the next five years until they were worth about $1.2 million. Now they live on $40,000 a year from their investments. I guess if I made $110,000 a year like that guy and was able to save 50%, I’d probably be able to make that work. Alas, no such luck.

nytimes.com

photo: nytimes.com

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