Stop working at age 40 with FIRE. Live off savings. It’s something that as a concept sounds great. It is a movement that comes like many other times from the United States. It’s called FIRE: Financially Independent Retire Early . “Financial independence and retire early” would be a rough translation.
What's behind FIRE and how does it work
What’s behind FIRE and how does it work. FIRE promotes a modest lifestyle to maximize savings that eventually allow one to retire from email database professional life. This fashion has reached Germany and I understand that also in other countries like Spain there are people who are on their way to achieving financial independence and retiring early. Daily expenses are covered through the profits generated by the accumulated capital. This can be investments in stocks, funds, real estate, websites, etc. The lower the monthly expenses, the sooner you achieve financial independence.
FIRE is not for everyone
FIRE is not for everyone. As nice as it sounds, FIRE is not for everyone. The basic condition is that you are able to generate more Phone Number SA money each month than you spend. This is not true for everyone and it is not so easy to say “then spend less”. Everyone has the potential to save money but there may be a ceiling to this. Many times the problem can arise that income is simply not high enough to generate savings.