this post was submitted on 06 Sep 2023
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Asklemmy
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Basically earn a bunch of money, invest smart, and retire early.
A bunch of people want to act like it's some secret new method and treat it like a fad diet, but people have been doing it forever.
I think the original FIRE was much more radical- basically the plan is to save up only like 700k or so, move to a low cost of living area, spend less than 20k a year, and try to live off of stock increases and interest.
But honestly that life sounds kinda shitty, so people stopped talking about FIRE what all the other conditions and it just became more "save, invest, retire eventually"
Oh, that's it?
I'll knock this out this afternoon and let you know how well it works
Thanks! Sounds like calories in - calories out in weight loss.
Yeah, it's overly simplified to the the point you're missing out on valuable details.
Like, if just "spend less, save more" was easy, everyone would do it