Why Gen Z and Millennials Don’t Want to Wait Until 60 to Retire?
We spend nearly the first quarter of our lives studying—school, college, university. By our mid-twenties, we step into jobs thinking the struggle is finally over. But that’s when Struggle 2.0 begins: career growth, marriage, home loans, children, deadlines, responsibilities. By the time we hit forty, exhaustion creeps in. Some switch careers, some take a break, and others quietly slip into a midlife crisis.
But imagine this—what if retirement itself came at forty? No more alarm clocks, no more office pressure, just time for travel, hobbies, and passions. Sounds like a dream, doesn’t it? This is where FIRE comes in.
What Is FIRE?
FIRE doesn’t mean flames—it stands for Financial Independence, Retire Early. The idea is simple yet radical: earn and save enough, early on, so you can quit the rat race decades before the traditional retirement age.
While most of the world retires late—67 in the US, Japan, Germany, and France, and 60 in India—the youth are asking a valid question: if you spend your whole life working, when will you actually live?
The image of retirement is no longer an elderly couple sipping tea on a veranda. Today, it’s a young, fit couple jogging with their dogs on a Goan beach.
The Origins of the Movement
The FIRE movement started in 1992 with the book Your Money or Your Life by Joseph R. Dominguez and Vicki Robin. Much like viral trends today, the book inspired a generation to believe in reclaiming control over time, money, and life. The promise was simple: stop working for pensions, start living for passions.
It took India three decades to warm up to the idea, but by 2023, surveys revealed that 67% of Indians were considering early retirement. Many in their early 30s now plan seriously for financial independence.
Stories That Inspire
Take the case of Anita Mehra, a Bengaluru-based financial planner who achieved FIRE at just 38, with a corpus of over ₹10 crore. Her journey wasn’t smooth. She began investing in equities back in 2007, only to face a massive setback during the 2008 global financial crisis. Instead of giving up, Anita treated it as her biggest teacher. Over the years, she refined her strategy—shifting towards mutual funds, index funds, and a disciplined asset allocation model by 2016.
What truly set her apart was her lifestyle. While living in a buzzing metro like Bengaluru, where consumerism is high and temptations are endless, Anita chose a modest path. She avoided unnecessary luxuries, tracked every rupee, and prioritized long-term security over short-term indulgence. For more than 15 years, she stayed consistent, turning small, steady steps into a giant leap toward financial independence.
But here’s the catch—Anita was no average earner. An IIM graduate working in corporate finance, she was pulling in well over ₹1 crore annually. That level of income gave her an advantage most people don’t have. For the majority, the road to FIRE demands stricter trade-offs: living frugally, saying no to lifestyle inflation, and preparing for the unexpected curveballs life throws.
The Trade-offs
Even for high earners, FIRE comes with pressure. Setting goals like “₹20 crore by forty” can cause burnout. People climb career ladders at breakneck speed, sacrificing family and personal time. By the time they finally “have all the time in the world,” the best years of life may already be gone.
Different Flavors of FIRE
FIRE isn’t one-size-fits-all. Over time, different versions have emerged:
- Lean FIRE: living frugally, cutting costs, and retiring on minimal expenses.
- Fat FIRE: saving aggressively to retire in comfort or luxury.
- Barista FIRE: retiring early but continuing part-time work for extra income.
- Coast FIRE: investing heavily early, then letting compounding do the rest.
The Math Behind FIRE
The foundation of FIRE rests on the “4% Rule.” First, calculate your annual expenses and multiply by 25—that’s your FIRE number. For instance, if you spend ₹6 lakh a year, your FIRE number is ₹1.5 crore. With that corpus invested, withdrawing 4% annually can sustain your lifestyle while your investments continue to grow.
Sounds simple, but real life isn’t a spreadsheet. Inflation, medical emergencies, and family obligations can disrupt even the best-laid plans. Which is why every FIRE strategy needs a Plan B.
Alternatives: Micro-Retirements
If full FIRE feels unreachable, consider Micro-Retirements. Instead of one big retirement, you take multiple breaks through life. Work 5–7 years, then take 6–12 months off to travel, learn new skills, or simply recharge. This way, you avoid burnout while enjoying life in the present.
The Bigger Picture
Of course, society will always have opinions—especially for men. “Why is he sitting at home? Did he lose his job? Is he depressed?” But at the end of the day, it’s your life.
Money is important, but the purpose of life isn’t just to make more of it. The real achievement is reaching sixty or seventy and looking back with pride—not only at the wealth you built, but at the life you truly lived.
So the question remains: At what age do you want to retire? And what’s your plan to get there?
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