Financial Independence, Retire Early (F.I.R.E.) is a way of life that aims to help its followers escape the 9 to 5 grind much before the widely accepted retirement age of 60.
For all the Gen X, Millennials, and Gen Z pursuing F.I.R.E., it is crucial to consider rising living costs that can erode the real value of savings and investments.
Although it has a simple goal - to save enough money to be able to quit your job early, achieving F.I.R.E. requires disciplined saving, investment practices, and awareness of economic factors (including inflation) to make sure that the accumulated wealth doesn’t just retain its value, but grows exponentially.
Having said that, F.I.R.E. isn’t a one-size-fits-all goal. Here we have written an article F.I.R.E Movement: Meaning, Types, Rules, & Targets that will tell you all about FIRE and how to achieve it.
The real question is - should you be aiming for F.I.R.E. in this economy?
