I read a lot of stories about people who are in the FIRE movement. If you don’t know what the acronym stands for it is Financial Independence Retire Early.
Many of these people are “retiring” early based on their savings. Let me say here that the more money you can save the better. However, are they really retired?
Case in point-I just read a story tonight about a person who has a military pension of $20,000 per year and about half a million in assets. He figured his half million throws off $26,000/year and if he needs the pension money it is there. Some of this is his house, but great-good job saving-people don’t save enough.
So what is my point? I don’t consider people in this situation to be retired. Let me explain-his wife works and gets paid a six figure salary. The article goes on to say that they save most of that. My nit picking (as it were) is that they aren’t saving all of her salary, so clearly they are living off some of it.
I know people have different types of retirement but it if one spouse works and the other stays home isn’t that just a lifestyle choice (i.e. a stay at home parent or spouse)?
Again, I am not knocking it because we could all save more money right? But I see these articles and rush to read how they did it and find they saved some money and one stays home and the other works. Not the inspiration I thought it would be. Good but not inspirational where I am. Call me traditional but retired means not working and living off your savings and investments . I realize the definition of retirement is different for different people, but for me it doesn’t qualify.
Good for them, but really they are heavy savers with one income earner. There is nothing wrong with that decision, just not retirement in my eyes.
As for me still working and still saving….
Leave your thoughts in the comments!