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Having enough money to retire early is having wealth. Sort of. There's two pieces to FIRE. Saving aggressively, yes. But also by learning to live modestly, you
by ip26 7y ago
Having enough money to retire early is having wealth.
Sort of. There's two pieces to FIRE. Saving aggressively, yes. But also by learning to live modestly, you need less wealth to retire. So half of FIRE is accumulating wealth, but the other half is needing less wealth.
- omgwtfbyobbq 7y agoExactly. At some point the decrease in annual spending converges with the increase in annual income, and that's FIRE. It's not like people have to retire at that point either. The general idea is that they can do what they want and aren't tied to a specific field, career, job, and so on...
- pathseeker 7y agoRight, I didn't imply that they had to retire. It's just that even having that option means you are wealthy. People who can live a middle-class lifestyle in the US without working are super fucking wealthy on a global perspective.