Finance

This Gen Xer Is a Millennial When It Comes to FIRE

It’s amazing to me how quickly the concept of FIRE (financial independence/retire early) has been spreading. This is probably my favorite use of the internet – the sharing of ideas to help people attain financial independence and the tools to follow their dreams.

Even more impressive is how the idea of FIRE has caught on among 20-somethings. I love reading those blogs and seeing how much they’ve been able to achieve at such a young age.

Unfortunately for me, the internet wasn’t quite this robust when I was in my early 20s. Fifteen years ago I decided to learn more about personal finance so I’d check out books from the library every week. It wasn’t long before I burned through all their books. The funny thing is that early retirement and financial independence weren’t mentioned in any of them. It took the inception of personal finance blogs to introduce me to the concept and get me started on this journey.

Given my late start towards FIRE, I can relate more to Millennials than many Gen Xers, especially those my age who are married with dual incomes.

For me, early retirement will be closer to 50 than 40. This is just over 9 years away. Given my timeline and single status, I’m at a similar point in my journey to many of the 20 or 30-year-old bloggers.

Although it’s disappointing to get a later start, I’m not letting that discourage me. It would be easy to decide to work until 65 and spend more money now. But instead, I want my future to be one with options. Primarily the option to work full-time, part-time, or not at all.

The message here is that it’s not too late. If you want to change your financial future, do something today to start working towards that, no matter how small. Even a change in mindset is a huge step. If you’re just starting in your journey, be sure to check out the amazing millennial blogs found here.

Where are you at in your journey? Is there a generation outside of your own that you can relate to?

10 thoughts on “This Gen Xer Is a Millennial When It Comes to FIRE

  1. Spot on, Kate. I, along with you, have always been saving/investing for retirement, but never truly focused on it as much as I am now since I started blogging myself.

    50-55 is my target range for FIRE, but if not, I want to be comfortable enough to be able to not give a damn about slaving for a job to make ends meet. Maybe my FIRE becomes a lower paying job because I truly enjoy work and great health benefits. I just want to be able to have options.

    Great thoughts. I enjoyed the read.
    Church recently posted…Death & Finances: Managing Both Duty and EmotionMy Profile

    1. Well said. The important thing is that we create a life with options, rather than get stuck. And early 50s seems reasonable – enough work experience to move into something else more easily or be able to call it quits altogether with the feeling of accomplishment when looking back at our careers.

      Thanks for commenting!

    1. It’s all about doing the best you can and continuing to move forward. Our future selves will thank us 🙂

      Thanks for commenting!

  2. Take it from me. You’re not too late. I know of a ton of people who will never be retired. The math doesn’t add up. The majority of people these days will be working into their twilight years. If you’re projecting retirement at 50, that’s still very young.

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