The 9 Craziest Ways These Millennials Are Saving Money To Retire Early
Maybe it was coming of age during the Great Recession and seeing their parents’ retirement savings disappear. Or perhaps they’re motivated by the ideas of investment and wealth management. Or maybe they just don’t like their day jobs.
Whatever the case, a small group of American millennials are bucking the trend and saving gobs of money in order to achieve FIRE or financial independence, retire early.
Inspired in part by the personal finance bible, “Your Money or Your Life” by Vicki Robin and Joe Dominguez, these folks are pinching their pennies in their twenties and thirties in order to build up big nest eggs.
Some don’t mind retiring on drastically reduced means, living as a family of four off $20,000 a year while others store enough away to live comfortably as millionaires. Whether they land on the high or low end of the spectrum, considering that 1 in 3 Americans have less than $5,000 saved for retirement, the FIRE community’s goals are lofty.
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