The FIRE (Financial Independence, Retire Early) movement took off in 1992 with the book Your Money or Your Life, which urged readers to change how they view money: instead of focusing how much you can earn, focus on saving and investing enough money at an early age to be able to live solely on passive income.
The unemployment surge and market downturn during the COVID-19 pandemic seemed to pose a major threat to early retirement strategies, but as it turns out, the opposite happened: an increasing number of workers are leveraging remote work to set aside more money and, ultimately, make working optional. This Kiplinger article explains why the FIRE movement didn’t just survive during the COVID-19 pandemic—it thrived.
This article was written by Kiplinger, an entity unrelated to HoyleCohen, LLC. The information herein is intended for educational purposes and has been selected by HoyleCohen due to the timeliness of the subject matter.
