Financial independence, retire early: the basic plan ... In a nutshell, FIRE requires that you cut your expenses to the bare minimum and channel ...InfocusChasing“financialindependenceretireearly”(FIRE):isitpossible?InfocusChasing“financialindependenceretireearly”(FIRE):isitpossible?Wouldn’tyoulikefinancialfreedom,whereyoucouldstopworryingaboutwork,rent,mortgagesandbills?ThisisgoaloftheFIREmovement.Butcanitreallywork?23February2021Wouldn’tyoulikefinancialfreedom,whereyoucouldstopworryingaboutwork,rent,mortgagesandbills?ThisisgoaloftheFIREmovement.Butcanitreallywork?23February2021JoMarshallInvestmentWriterSeeallarticlesAtwhatageareyouplanningtoretire?Formanythestandardanswertothisis“somewhereinmy60sorbeyond”.Schrodersanalysissuggeststhatifyoustartsavingforyourretirementatage20,you’llneedtosavebetween12%-15%ofyoursalaryfor40yearstoretireon50%ofyoursalary.Butthere’sagrowingcohortofpeoplethataimtosaveharderandretiremuchearlier.FIRE,whichstandsfor“financialindependence,retireearly”,isawayoflifethat’sattractingfollowerslike,well,mothstoaflame.Theideaistolivefrugallyduringyourworkingyears,aimingtosaveasmuchas50%-80%ofyoursalary.Thesimpletheoryisthatbymakingbigsacrificesearlyon,youbuyyourfreedomlater-meaningyoucanstopearningatayoungerage.Formanyfollowers,FIREisaboutawayoflifeaswellasmoney.Theaimofbuildingasavingspotasearlyaspossibleislinkedtotheaspirationofpursuingmoremeaningfulactivitiesthanaregular–butpossiblyunfulfilling–9-5workinglife.ButhowfeasibleisFIRE?Isitachievableforthoseonalllevelsofearnings?AndcanFIREsaversmakeplansthataresufficientlyrobusttosurviveeconomicandmarketshocksbroughtaboutbyseismiceventssuchastheCovid-19pandemic?HowdidFIREcomeabout?Themovementstartedinthe1990sandhasbuiltitssupportbaseinthedecadessince.ThereareanumberofkeybloggersandwebsitespromotingFIRE,presentingitbothasapersonalfinancialstrategyandalsotopromoteasimplerwayoflivingthatreducesconsumptionandsavestheplanet.AnimportantpartoftheFIREmovementaretheformulasthattrytoinforminvestorshowmuchcapit