FIRE is a powerful motivator that drives Millennial choices around financial planning and investing.
FIRE stands for FINANCIAL INDEPENDENCE and RETIRE EARLY. In short: what would you need to do to retire early at 30? at 40?
“Purpose” matters to all of us, but especially to Millennials. If the corporate mission is solely to increase earnings every quarter you’ve lost them! By contrast, Millennials get fired up (like the rest of us) when they belong to a team that is accomplishing something unique, when they are making a difference or solving an important community problem.
Since employers often don’t “get it" Millennials are increasingly focusing on FIRE. They ask: “How much money do I need so that I can fade my boss and do something I feel lit up about?” (pun intended) or “At what level of cash flow are all my needs met, giving me the freedom to pursue projects that I’m passionate about?” or “What helps support my goal of FIRE — renting or buying?” Financial independence buys you the freedom to do what you want to do and on your timeframe!
Retire Early reflects the feeling that life is short and is meant to be lived now. Why wait until you turn 65 to live life?
The LAST thing Millennials wake up in the morning craving is “traditional retirement planning.” Yawn! But who doesn't crave the freedom that comes with FIRE? How would FIRE change your life? Or the lives around you?
Join The Planning Club today and let’s build your FIRE-plan!