Retiring early is a dream for many. In reality, some regret it.
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Matt Turner,Jordan Parker Erb
Mar 3, 2024, 20:44 IST
Among those who gave a specific dollar amount for what they think they need to retire comfortably, they on average had just 7% of that number currently saved.Pinkomelet/Getty Images
This post originally appeared in the Insider Today newsletter.
Retiring early is a dream for many. But when Nupur Dave walked away from corporate life at 40, becoming part of the FIRE (financial independence, retire early) movement, she soon came to regret it.
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"Even though people say, 'I like that I'm on my own terms,' sometimes being completely untethered is scary," Dave told BI of her decision to retire. "It felt like doing a space walk."
Dave's not the only FIRE fan to have second thoughts. Many of the early retirees who've spoken with BI in the past have shared the challenges that come with quitting work altogether.
Some felt having to stretch a sum of money over decades made life less enjoyable. Others said they lost their sense of purpose. Several returned to work.
But Dave's story is a reminder that a job can be about more than just picking up a paycheck. It can be a place to make friends, to provide structure and purpose.
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The Insider Today team: Matt Turner, deputy editor-in-chief, in New York. Jordan Parker Erb, editor, in New York. Dan DeFrancesco, deputy editor and anchor, in New York. Lisa Ryan, executive editor, in New York.
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