Alan and Katie are part of a small but growing global movement called FIRE, which stands for “Financially Independent, Retire Early”.
From a little-known concept 15 years ago, the Main Fire discussion board on the social media site Reddit now has nearly one million members, and mainstream financial institutions now publish numerous guides on the topic.
The central principle is that you should be extremely frugal during your working life, so that you can retire as early as possible.
For most of us, being able to leave working life early is just a dream. From the current high cost of living, to increased property prices and student debt, we will be in for a long time. Statistics confirm this.
The average retirement age in the UK reached a record high of 65.8 years for men and 64.7 years for women last year, official figures show., external
According to a long-term study, the situation is similar in the US, where the average retirement age for men and women has increased steadily since the 1990s to 64.8 and 63.3 respectively in 2025., external
Yet fire devotees like 49-year-old Amy Minkley remain committed to their goal. The American middle-school teacher was able to retire at only 44.
To help achieve this she worked abroad at international, private schools in Japan, Singapore, India and Thailand, where Minkley says she was able to earn more money and enjoy much lower living expenses than at home in Texas.
She also spent as little as possible. “I had no interest in adopting a certain expat lifestyle,” says Minkley.
“I rarely bought expensive clothes, held on to electronics until they paid off, cooked most of my meals at home and paused before making any important purchases.
“Having a domestic partner while living in Singapore and India allowed me to save even more and I didn’t need a car in many countries, which kept my expenses down,” she says.
Minkley now lives in Bali where her retirement income is much higher than back in the US.
