FIRE Movement on CBS This Morning
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 14 June 2019
⏱️ 4 minutes
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Summary
In the latest installment of Eye On Money we are focusing on a fast-growing trend that focuses on saving aggressively to retire early. It's called F.I.R.E. and stands for "financial independence, retire early." The idea is to live a frugal life now, so you can take control of your financial future.
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Transcript
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| 0:00.0 | Okay, little extra Jill on money segment here. This is the CBS This |
| 0:08.2 | morning I on money segment. We aired every Tuesday and this time we are focusing on the fire movement. |
| 0:15.4 | Financial independence retire early. |
| 0:18.4 | Business analyst Jill Schlesinger is here with what financial strategies we can learn |
| 0:22.1 | from this movement. |
| 0:23.0 | Jill good morning. |
| 0:23.7 | Good morning. |
| 0:24.7 | How did this get started? |
| 0:25.7 | You know, it was really a reaction against the great recession. |
| 0:28.4 | A lot of the older millennials had suffered so much and they saw what happened to their parents they said oh we got to get |
| 0:34.2 | going and so the philosophy is really interesting as we saw in that piece it's let me |
| 0:39.2 | live frugally today let me save as much as I possibly can. And then I may be able to retire early, but I think really what they're talking about is have control, be able to have maybe a second career that is meaningful. A lot of the founders of this movement really talk |
| 0:54.1 | about this is around happiness and you don't find happiness by buying a lot of stuff. |
| 0:58.4 | It seems impressive to me what they're doing. What's the downside? Why is your number one? |
| 1:02.1 | I've never heard of the |
| 1:02.8 | fire movement. |
| 1:03.8 | Had you? |
| 1:04.8 | I had. I had one of the espousing philosopher. No, I'm not. I spent what I get. |
| 1:10.5 | I've never heard of it. But they seem to be doing it right what's the downside |
| 1:15.2 | there have been some financial journalists and some people in the business who say oh |
| 1:20.9 | they are giving false hope to many Americans in other words |
| 1:24.6 | you're really not going to be able to retire early because you've got such a |
... |
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