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This week’s The Distillery is a link to a thought provoking piece, picked up in Forbes, which discusses the latest acronym in vogue (at least to my knowledge): FIRE (Financially Independent Retiring Early). We hope you read the entire article, but if your time is limited, I’ve include my favorite quote from the article below.
“While financial independence may provide you with financial cushion and peace of mind to comfortably pursue paths outside your current career, you don't need to be financially independent to start experimenting now.”
There has been a growing interest in the financial independence, retire early movement, or FIRE for short. According to the movement, all you have to do is save 25 times your annual living expenses, and then you'll be financially independent and have the ability to retire early. Best of all, when you become financially independent, you can do whatever you want with your time, and don't have to worry about making money. It sounds amazing, right? While there are some good aspects of the FIRE movement, becoming financially independent or retiring early won't make you happy, and here's why... Read More >