This Is Why FIRE Is a Wildly Unrealistic Retirement Strategy for Most People
The early retirees behind the movement known as Financial Independence Retire Early (or FIRE) often tell a story of extreme frugality. They buy secondhand. They biked to the office back when they still had to work. They grow their own vegetables. Their penny-pinching ways gave them a shortcut to the golden years, and many retired in their 30s or 40s.
FIRE holds an obvious appeal: By making sacrifices to invest early, you can achieve financial independence, which basically means you can live off your investment earnings without being tethered to a job. And the message of disciplined saving and investing is one we'd all do well to embrace.
But the truth is, there's a lot more to the story of those 30-something retirees than extreme thriftiness. Here's the truth about the FIRE movement -- and why it's so unrealistic for the vast majority of Americans.
Source Fool.com
