In general, anyone can strive for FIRE retirement. Just because a FIRE retirement plan is more about controlling what you spend, the first question to ask is how much?
Let’s say, you’re spending 100 percent or even more of your income. The result? Well, nothing good. You’ll never be prepared to retire. Unless of course someone else (parents, social security, pension fund, etc.) is doing the saving for you. And lastly, your work career will have no end in sight.
Okay, what if you’re spending zero percent of your income? We won’t dive deeper into how you can manage to live for free but focus on retirement goals. The effect? You can end up with a zero-working career.
As you can see, both paths can’t be considered as used by many. And when it comes to numbers that are in between, the picture looks much more realistic. Take a look for yourself. The graph below can help make a long story short: the higher your savings rate, the fewer working years you get until retirement.