Are You Prepared To F.I.R.E?

We all know that we should have burning desire to accomplish our goals! But what about F.I.R.E in reality? Some of us even don’t know the meaning of F.I.R.E!

F.I.R.E stands for Financial Independence,Retire Early. We all know that in India retirement age would be 60. Even though you are financially free or not, you are forced to retire at 60. Recently due to work pressures people’s attitude has been changed. They are thinking to retire even before 60!

Why Financial Independence, Retire Early Concept?

As today’s youth are earning decent salary figures in their initial years, generally they are manageable to meet the both ends. They are fulfilling their dreams even faster than their elder generation. So they want to retire early than their older generations. Due to severe work pressures today’s youth are prepared to be financially free at an early age

Need to be Financially Independent– You are forced to retire at 60 even you are financially secured or not! But if you plan properly from your initial earning career, you would retire even before. In today’s competitive world there is severe work pressure which prompts to retire early There is no wrong in thinking like that as F.I.R.E concept means if you are financially independent where there is no need to work further to survive, you are eligible to F.I.R.E at an early age.

How to prepare for F.I.R.E(Financial Independent, Retire Early)– If you are planning for retirement at an early age, don’t procrastinate in investing from your first pay cheque(salary). Financial experts suggests if you start investing from your initial careers, you would end with much higher corpus as “Time and Compounding” is in your hands. If you give time to your investments power of compounding works in favour of you.

But even though people have the desire to retire early, some people procrastinate to start investing assuming they would invest when there is a salary hike. But by delaying some years of your working career, you would miss the bus the power of compounding. What you have to realise is even you earn low income starting investing is more important than waiting for the salary-hike. You can increase your investment amount whenever you get salary-hike, but don’t delay in investing .Studies shows that those who started investing from 22-23 years(or at their starting earning age)would accumulate huge corpus than those who delays investing for retirement at latter years. If you start investing from first pay cheque(salary) even small amounts would suffice as the magic of compounding works wonderfully if you gave time.

So if you are really want to be retire early , don’t delay in investing to be financially independent. If you have accumulated sufficient corpus where there is no need to work further you would have achieved financial independence . It is in your hands to be prepared for early retirement. If you are planning for early retirement start investing right now to achieve financial independence. Then only you are set to F.I.R.E.

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