Retire At 55?

That’s what the followers of a new movement called FIRE plan to do. Alice Grebot finds out how

Who wouldn’t like the option to down tools in their 40s or 50s? Well, there’s a new lifestyle trend called FIRE, and its followers aim to achieve Financial Independence and Retire Early.

The idea originated in the USA and is now catching on here. But if early retirement sounds like a dream, it comes at a cost. FIRE calls for frugal living, investing and extreme saving – you’d need to save 50% of your income and 70% if possible.

Marie Walshe, 47 (right), is attempting to achieve FIRE. She lives in Kent with her husband, Diarmaid, 51. She works as a lecturer and teaches accounting.

‘Growing up on a farm in Ireland, my parents taught me the importance of putting money away and saving for a rainy day. They ran a guest house and rented out the land, which was a great way of earning a passive income.