Over the past decade, the idea of being financially “free” has really made a name for itself — literally, in fact. What has emerged is the FIRE movement (Financial Independence/Retire Early), a philosophy and lifestyle that has spawned dozens of bestselling books, as well as a proliferation of blogs, podcasts, and YouTube channels.
What does “financial freedom” really mean? In FIRE circles, it typically refers to possessing a net worth of 20 times your annual expenses. Whether or not you agree with that as an accurate measurement of your financial freedom, you may have also heard some of the following myths about financial independence, many of which are mixed in with FIRE information.
These myths should all be dispelled
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