- The FIRE movement is popular, but also known for its intense frugality which is not for everyone.
- An alternative for burned-out workers is to plan for several ‘mini-retirement’ sabbaticals instead.
- Saving 15% of your income for long-term retirement and 5% for sabbaticals can help you plan for one.
A lot of workers — especially millennial and Gen Z workers — have expressed that they are more burned out from work than ever.
A 2021 survey found that over half of workers were feeling burned out at their job, and that 67% of the respondents felt like the COVID-19 pandemic exacerbated their burnout. Thus, the advent of major workforce trends such as The Great Resignation and so-called “quiet quitting.”
But another response to the doldrums that some workers have felt about the ever-shifting nature of work and the workplace is to join the ranks of the Financial Independence, Retire Early (FIRE) movement which is built around the idea that many people are not at their best working a 9-to-5 corporate job, and would be happier exploring new, self-led opportunities while living off of a portfolio.