Many people dream of leaving the workforce while they’re still in their prime and focusing on the things that truly make them happy. This dream has materialized into the FIRE movement, which stands for “Financial Independence, Retire Early.”
The FIRE movement is a lifestyle movement that allows younger workers to put aside as much as possible during their working years so that they are able to leave the 9 to 5 work schedule behind in their 40s and even in their 30s.
However, achieving financial freedom and gaining control over your life is not easy. It requires careful planning, frugality and even some sacrifices that might scare many people away. Other things that might scare people away are the following early retirement misconceptions that many believe, although most do not apply to those who really want to retire early. If you also want to retire earlier, don’t be fooled by these common myths that might prevent you from making your dream come true.