Join our community of smart investors

Hold Fire on retirement unless you have the necessary funds

If you plan to stop working in your 40s you will need a large sum of money to live off
Hold Fire on retirement unless you have the necessary funds

Fire advocates saving a lot in your 20s and 30s to retire in your 40s

The levels of income you need make this unrealistic for most people

If you are going to do it you need to carefully plan how you will do it

Many people hope to retire ahead of state pension age, maybe in their early 60s or even 50s. But advocates of Financial Independence, Retire Early (Fire) try to retire even earlier, maybe in their 40s, and finance it via extreme saving and investing.

Fire has been attributed to a book published in 1992 called Your Money or Your Life by Vicki Robin and Joe Dominguez. There are a number of US Fire proponents and UK advocates include Maynard Paton, who left nine-to-five work at age 43. He has written about how he did this on his blog at maynardpaton.com/my-story-to-becoming-mortgage-free-and-retiring-early.

To continue reading...
Join our Community of Smart Investors
  • Independent full-length company analysis
  • Actionable investment ideas and recommendations
  • Expert investment tools and data
  • Stock screens from Algy Hall
Have an account? Sign in