We all want to achieve financial independence in our life!
- That day, when we will have enough money!!
- That day, when we will no longer have to worry about our future expenses!
- That day, when we are out of the rat race finally!
For the last couple of years, we are hearing an acronym FIRE for this!
Financial Independence Retire Early (FIRE)
FIRE, or Financial Independence Retire Early, refers to achieving a point in life where you have enough money to cover your expenses and financial goals without having to work for a living.
Ideally, this happens well before the traditional retirement age of 58-60 years. Achieving FIRE means having financial security for your future, as well as the ability to travel well, spend on big-ticket expenses and also leave a legacy for future generations.
At this point, you no longer have a compulsion to actively work to “earn money”
FIRE is a great achievement
Achieving FIRE is a wonderful accomplishment, but there are many myths that are…