What’s the FIRE movement? How a trend is helping people retire in their 30s

The Financial Independence, Retire Early (FIRE) movement is a financial strategy that encourages extreme savings and early investment to achieve retirement earlier than traditional plans. It gained popularity among millennials and has a dedicated forum on Reddit with over 516,000 members. The movement's principles, such as saving 50-70% of income and following rules like "The Rule of 25" and "The 4% Rule," can be challenging for some populations, including those with lower incomes or living in high-rent cities. Despite this, the movement offers valuable lessons for all workers, including the importance of financial stability and being cautious about spending. However, researchers have found that many early retirees experience feelings of unfulfillment and aimlessness, suggesting that rushing to save and invest may have its downsides.