Can You Retire at 55? What the FIRE Movement Says You'll Need to Do
The average retirement age in the U.S. was 62 in 2023, but that number's been slowly ticking up over time. Rising life expectancies and rising costs, coupled with incomes and Social Security benefits that haven't kept pace with inflation, are forcing many workers to wait longer before leaving the workforce.But there's a group of younger adults who have no interest in following the traditional path. The Financial Independence, Retire Early (FIRE) movement aims to save aggressively in order to retire years -- or even decades -- earlier than is typical.Image source: Getty Images.Continue reading
The average retirement age in the U.S. was 62 in 2023, but that number's been slowly ticking up over time. Rising life expectancies and rising costs, coupled with incomes and Social Security benefits that haven't kept pace with inflation, are forcing many workers to wait longer before leaving the workforce.
But there's a group of younger adults who have no interest in following the traditional path. The Financial Independence, Retire Early (FIRE) movement aims to save aggressively in order to retire years -- or even decades -- earlier than is typical.
Image source: Getty Images.
