Early retirement looks glamorous ... but it may also make you anxious:
Jordan, a physician from Illinois, earned a fat paycheck, was frugal and had real-estate investments — a perfect candidate for early retirement, some might say.
FIRE has been gaining a lot of traction on social media. From Reddit threads to Facebook groups, the community of individuals scouring the internet for saving hacks, investing tips and simple calculations to retire well before they hit 65 has grown considerably. Some people cut out all the nonnecessities from their budgets, downsize their homes and work extra jobs to save enough.
Anxiety, one of the lesser-known aspects of FIRE, plays a prominent role in this movement. So, while retiring early with hundreds of thousands of dollars saved sounds great, it’s common for anxiety to creep in when you don’t have too many people retiring around you, said Brad Klontz, author of “Mind Over Money” and co-founder of the Financial Psychology Institute. “In some ways, retiring at a standard age is easier.
Apart from the degree of emotional vulnerability, Hester, who is the author of the Our Next Life blog about early retirement and the book “Work Optional,” pointed out another key differentiator between the early retirement and retiring at a traditional age.
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