From Sunday Brunch Cafe …
It’s a bit controversial among the Personal Finance community that I’m not striving for the FIRE life. In case you’re not familiar, FIRE stands for Financial Independence Retire Early. The concept has been quietly brewing for decades but has really picked up steam in the last few years.
The typical FIRE seeker aims to save a large portion of their income by reducing their cost of living. After retirement they maintain the lower cost of living while drawing on their investments. Many of the FIRE bloggers saved 50–70% of their income, invested in the stock market or real estate and retired with $1+ million bucks (or whatever their 4% rule number is — more on this later) to travel the world.
This solution isn’t for me.