The millennia’s have come with a loud bang that has brought a lot of change to the society and how people view life. They have brought the FIRE movement that embraces financial independence and encourages early retirement. Despite high job market pressure many have proven otherwise. They are seeing it out as a way for their soul searching, stealing work time to go for their vacation. This generation has been viewed to have a lot of value in their free-time. The FIRE has been is embraced by most people wanting to have their finances in control earlier in life. This has been made possible through the creation of good strategies like increase in savings rate by cutting down unwanted costs of living. Some fire practices are extremely frugal if not well calculated. Others help maintain a typical living standard so as to invest of for future needs or save. Their practice encourages one to work part time in another job so as to increase the income and ensure a good deal once one retires.
The ‘fire’ practice is to cut one’s expenses and increase saving and generating massive investment so as to support your needs. Some people are trying to fit in the society by living a life that they cannot afford. This will increase our time working so as to clear all the debt they might have. Many are opting to get out of work in their early 30s and 40s. Many people are living a ‘fake life’ as they are buying property with mortgages that they cannot afford. Buying cars that make you overspend also makes it hard for you to save. The high growth in the economy has led to an increase in the living standards in aspects such as health, education and shelter. This has made many live a difficult life where they work extremely hard with no tangible results.
The world has offered great opportunities to invest money and make a good fortune out of it. The stock market, crypto-currency, real-estate, compound interest and many others have presented opportunities for people to invest. Some of the investments offer good tax exemptions where people can make a living. Living a simple life is the key to financial independence. Buying a house or car that you can afford and taking insurance cover to protect what your care for are also critical steps to financial independence. It does not mean that one can only retire when they grow grey or bald. You can retire before then. All that is required is making good plans that help safeguard the future.