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Finance Friday | Using FIRE movement to gain financial independence

The FIRE movement, which stands for Financial Independence, Retire Early, is a lifestyle and financial strategy aimed at achieving the ability to retire much earlier than traditional retirement ages by saving and investing aggressively. Discussed on WESH 2's Finance Friday segment, the movement encourages individuals to save up to 70% of their income, drastically reducing expenses and living frugally. The goal is to accumulate enough savings and investments to live off the returns, thereby achieving financial independence. While the movement has gained popularity, especially among millennials, it requires significant discipline and a shift in lifestyle, and may not be suitable for everyone. The segment also highlighted the importance of understanding one's own financial goals and circumstances before adopting such a rigorous financial plan.

Read the Full WESH Article at:
[ https://www.wesh.com/article/finance-friday-fire-movement/64589014 ]