Originally posted in the Baltimore Business Journal on January 4, 2019
The allure of FIRE, the acronym for Financially Independent, Retire Early, has gained popularity in the last few years, especially with the younger generation. While some may want to work “forever,” some simply want to get out of the “rat race” as soon as possible. Simply speaking, FIRE proponents believe in the idea of saving the majority of their income (by likely living very thriftily) for a decade or two and then maintaining a low-cost retirement lifestyle.