Meet the 30-year-old retirees of the FIRE movement
The couple had grown disillusioned with the “Boomers’ dream”: Get a job, be a loyal employee for decades, buy a house, retire at 65.
Instead, they devoted themselves to a bare-bones lifestyle, saved 80% of their annual income, and amassed a portfolio worth $1m — enough to leave behind the 9-to-5 life and live frugally off the dividends.
Millennials are often hounded for their poor financial management. Some 66% of 21- to 32 year-olds have no savings, and one-third don’t actively think about retirement.
Subscribers to the FIRE movement (short for “Financial Independence, Retire Early”) don’t feel like waiting around for the early bird special.
Early retirement is not a new concept. It’s been kicked around since the 1950s and gained momentum during the ’90s tech boom, when books like Your Money or Your Life and The Complete Tightwad Gazette promoted self-reliance, frugality, and smart investing as a path to financial liberation.
In the past decade, FIRE has found a new home on the internet, fueled by gurus like Mr. Money Mustache and Mad Fientist, who run wildly popular blogs with posts like “Safety Is an Expensive Illusion” and “Luxury Is Just Another Weakness.”
