The FIRE Movement Survived the Pandemic. Will It Persist in 2021?
FIRE (Financial Independence, Retire Early) Movement adherents believe in saving and investing aggressively while being explicitly and deliberately frugal. The end goal is to become financially independent and retire young. Most of its adherents are also fans of low-cost, passive investments such as index mutual funds from Vanguard and other discount brokers.
The S&P 500 fell nearly 30% in the first quarter of this year, and many critics of the FIRE Movement were ready to declare it a failed idea. However, with fuel from the stock market's subsequent recovery -- as well as it's impressive rise to new heights -- I'd wager that the movement has gained followers throughout the turmoil of the past year. Looking toward 2021, the FIRE Movement is not only in a position to survive but also thrive in the new year.
Most people, at one point or another in their careers, find themselves in employment scenarios that they deem less than desirable. Alternatively, perhaps they have experienced something in their lives that makes them reevaluate the use of their time, such as the death of an immediate family member or an unfortunate medical diagnosis.
Source Fool.com
