If you are a Millennial and you care about retirement, then you must have heard of FIRE.
It actually stands for Financial-Independence-Retire-Early.
This is a movement that started in the mid-2000s, just prior to the Great Recession of 2009.
The idea? Cut expenses. Increase income. Retire early.
This movement was recently explained further by Roger Ma, Founder of Lifelaidout, at TheStreet's Retirement, Taxes & Income Strategies Symposium.
Here's what Ma said:
"People in their twenties and thirties instead of saying, 'oh, we're going to work 'till 65 and then enjoy our life,' what they're saying is, 'well wait a second, we can decrease our expenses, save a fair amount of money and then retire in our thirties and forties and then not have to work.'"
To find out more about Fire, watch the video above.
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