The financial independence, retire early movement is a movement whereby people try to work hard, invest and live frugally. All this is done in hopes of having a happy early retirement without any financial woes.
Living in your retirement years, one should only be withdrawing three to four per cent of your accumulated funds yearly to ensure that they have enough to last through your retirement.There are different methods of achieving Fire and depending on your choice, it could result in varying lifestyles and different saving goals.Fat Fire is suited for the individual who does not want any compromise. These individuals want to maintain or enhance their standard of living when they retire.
Lean Fire typically leads to less financial flexibility in retirement; however, this allows the individual to retire even earlier if they can live with a smaller monthly budget. For most people, this would be a good balance and having a side gig would mean that one gets to pursue a passion that is perhaps a hobby that they were not able to do before retirement.Coast Fire is essentially about saving very aggressively in one’s earlier years to take advantage of compound interest that they can earn for their retirement.
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