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Is FIRE Still Realistic?
Financial planners say saving 30% to 40% of income and lifestyle changes are essential for achieving financial independence and early retirement despite rising costs.
- Today CFPs at Artica Financial Services, Evensky & Katz/Foldes, and Enduring Wealth Advisors say FIRE is feasible with discipline and tradeoffs, despite higher costs.
- High housing costs and inflation have raised the bar for FIRE, but the movement has existed for years despite housing and student loan pressures, Segrera says.
- Practical tactics include housing choices and part-time work to boost savings, with some clients saving 40% or more and top savers putting 30% to 35% of gross income into investments, planners Bender and Segrera say.
- Individuals pursuing FIRE face family and career tradeoffs that require clear choices, as pursuing FIRE forces decisions about sacrifices and consumption, while workers considering repurposed careers may escape the 9-to-5 grind.
- Planners advise defining your `why` and running the numbers, as a sustainable FIRE approach looks less like retiring at 35 and more like building cushions to have choices.
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Is FIRE Still Realistic?
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Coverage Details
Total News Sources15
Leaning Left3Leaning Right4Center3Last UpdatedBias Distribution40% Right
Bias Distribution
- 40% of the sources lean Right
40% Right
L 30%
C 30%
R 40%
Factuality
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