Author Topic: 10 most FIRE-friendly places to live if you want to retire early  (Read 574 times)

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Online Elderberry

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10 most FIRE-friendly places to live if you want to retire early
« on: November 05, 2019, 03:08:35 am »
Market Watch by Erica Sweeney 11/4/2019

Realtor.com crunched the numbers and found these FIRE-friendly locations

Everyone dreams of retiring someday. But retire early, in your 30s or 40s? As far-fetched as this fantasy may seem, there’s a name for this wish that could help make it happen: FIRE.

Short for Financial Independence, Retire Early, the FIRE movement finds its roots in the 1992 best-seller “Your Money or Your Life” by Joe Dominguez (a Wall Street financial analyst who — you guessed it — retired at 31) and Vicki Robin (who turned a modest inheritance into an income stream that allowed her to quit work at 23).

Although the idea of FIRE has been around for 25-plus years, it’s recently become the obsession du jour among a seemingly unlikely group: millennials. Say what you want about their adoration of avocado toast, but this group is gung-ho to quit the rat race ASAP. But how?

In a nutshell, the FIRE premise works like this: In your early working years, you adhere to a strict, even spartan, budget so you can sock away 40% to 70% of your income and wisely invest it.

More: https://www.marketwatch.com/story/10-best-places-to-live-if-you-want-to-retire-early-2019-11-04

Quote
Many moons ago I had a coworker that was saving her entire salary, though her husband was a lawyer.

I was only able to put away around 15% of mine. No retirement before 40 for me.

Offline Applewood

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Re: 10 most FIRE-friendly places to live if you want to retire early
« Reply #1 on: November 05, 2019, 12:27:00 pm »
When I first read the headline, I thought it was about realtors selling property in California.  Doh!

My paternal grandfather once said that pension was the best thing that ever happened to the working man.  He was the first generation to retire with a monthly income.  Previous generations all worked till they died. 

Dad worked till age 60.  My brother left his job at age 57.  Ii don't know of anyone who retired in their 40s, except for military and some state employees, but then they worked at other jobs till a suitable age when they could retire for good. 

But hey, if you can quit working for good at a much earlier age, more power to you.