Early retirement gone wrong: What to do when life gets in the way

Those who live by FIRE (Financial Independence - Retire Early) live frugally in order to retire as early as possible. But sometimes life has other plans. Here are all of the scenarios you should consider when creating your early retirement plan.

[jamietung]

Waiting to retire can also have risks. With the stuff happening these days, it might not be possible to live long enough to enjoy retirement.

[arcticrest]

Investments aren’t fail proof though, what if you need the money and the market declines? Not being cynical, but something worth keeping in mind

[eldoeldon]

In F.I.R.E videos nobody mentions that investments can fail

[kennethsouthard]

FIRE can backfire on you big time. One big risk not mentioned here is that if after a few years your FIRE plans don't work out and you have to return to work, you will be at a severe disadvantage having been out of the job market for so long. Bottom line is unless you make a shit ton of money or hit it big with a buttload of stock options, FIRE will not work out and you will be working at least into your mid 50s like everyone else.

[lanbao]

.... what’s with these vintage video clips in this video? Sewing and biking aren’t ancient practices that have gone out of style.
Most people in the FIRE movement have already thought of the items listed, but it’s a good reminder.

[biskit]

these issues would happen to anyone, not just the FIRE people... What about the 7 out of 10 Americans that live paycheck to paycheck, , are they prepared for any of these NOT!!!

[swicheroo]

I see no point to early retirement. Half the people in my family had the money to retire quite well and are still working at their careers. I think that if you do this FIRE thing, though, you will need to plan for the many contingencies of health care--sudden illness and end of life care. It's super expensive in the USA. Your best bet is to move to a country with great health care. So, maybe spend some of your savings for basic language instruction. Most Americans who move abroad find that linguistic incompetence is what finally makes them reverse their migration.

[grofflek]

Why does marketwatch have mediamarkt logo?

[dynomax]

I can not imagine retiring at 40 no way. I’d need 3 million easy