In times of unprecedented economic, political, and social instability, a growing group of individuals is exploring an alternative path toward freedom and autonomy. “Financial Independence, Retire Early” (FIRE) is a movement of people who aggressively save and invest to retire earlier and reclaim control over their lives.
While the term was coined in the 1992 book Your Money or Your Life, the FIRE movement has experienced a recent resurgence in popularity, particularly among younger working professionals. While many aspire to reach financial independence early and enjoy a longer retirement, they often don’t consider the impact it will have on their lives. Ongoing research by INSEAD professors Bala Vissa and Winnie Jiang (one of the co-authors of this article), shows that attaining financial freedom doesn’t automatically translate to a fulfilled life.
