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What does the “fire” movement consist of?

What does the “fire” movement consist of?

Young people don’t want to work», a phrase that has been used in a derogatory manner for some time to emphasize an effective change in the concept of »a job“By new generations, especially Millennials and Generation Z. Indeed, it is true: under these conditions, in this society, many young people do not want to work.

In fact, there are complaints from girls and boys who have just taken their first steps in the world of work and who cannot wait to get out of it, and they are twenty and thirty-year-olds who do not understand how it is possible to live with the awareness of the necessity of remaining until old age cramped in the office, eight hours or More daily, Monday through Friday. A cycle that seems to have no end.

This is not a new inconvenience, but an increasingly widespread and winding change that began as early as 1992, when Vicki Rubing and Joe Dominguez used the term “fire“In the best-selling book ‘Your Money, Your Life’. But what does ‘fire’ mean? We are not talking about fire, but about the acronym ‘Financial Independence, Early Retirement’, which applies to the saying”Financial independence, early retirement“.

Pension before the age of 40: how it works

In the book, the reader is asked what he is willing to give in exchange for money. It was about exploring a person’s priorities, questioning their lifestyle based on their values, not accumulating money so they can get rich. In fact, the FIRE movement aims to break away from the fundamental patterns of today’s work culture, the ones that underpin the entire apparatus of society, capitalism and consumerism.

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Thus, following the FIRE model means being able to identify what you need and having the necessary financial stability to be able to “liberate” yourself from the 9-5 shift, spend your money consciously, cut unnecessary expenses and save where and when. It is possible to do this. The plan starts when you’re young by saving enough money to be able to afford early retirement, preferably before age 40.

The first step is to understand how much money you will need to maintain your lifestyle after retirement. Then you start getting serious, and here the methods differ but are generally two types: saving on the one hand (through used purchases and doing it yourself) and increasing profits on the other hand, especially through instead the whole body. In fact, those who dedicate themselves to FIRE end up investing between 50% and 75% of their profits.

However, this approach is not for everyone. As reported by La Repubblica, in fact, researcher Mei Ah Schoen from Oslo Metropolitan University believes that this is a dream that can only be achieved by the already wealthy: “The average employee does not earn enough to be able to do this.” This barrier appears to be a guarantee of the preservation of the current social welfare system, which will no longer be able to bear the weight of a population that no longer wants to contribute to its work.

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