There is a soon-to-be-released documentary called “Playing with FIRE,” which is about the “financial independence, retire early” movement, advanced by the millennial generation. FIRE has gained momentum with coverage in Forbes, the New York Times and on NPR. There are about a hundred “high-traffic” bloggers detailing FIRE journeys, many of those being listed on Rockstar Finance.
In the documentary trailer, it’s said that “people have figured out that if you save half your income, you can all of a sudden move that retirement date up from 50 years out to just 17 years out.” As a financial advisor, I’m not going to discourage anybody from saving more. However, if you retire around age 40, there is an extra quarter-century of unknowns to contend with.