Retirement Planning

Why Being Financially Independent or Retiring Early Won't Make You Happy

Why Being Financially Independent or Retiring Early Won't Make You Happy

There has been a growing interest in the financial independence, retire early movement, or FIRE for short.

According to the movement, all you have to do is save 25 times your annual living expenses, and then you'll be financially independent and have the ability to retire early. Best of all, when you become financially independent, you can do whatever you want with your time, and don't have to worry about making money.

It sounds amazing, right? While there are some good aspects of the FIRE movement, becoming financially independent or retiring early won't make you happy, and here's why.

How Do Your Retirement Savings Measure Up?

How Do Your Retirement Savings Measure Up?

Each year, when it's time to enroll and change up your employee benefits, do you find yourself wondering how much you should be putting into your 401(k), whether you should contribute on a pre-tax or Roth basis, and what actual investments you should use? Do you ever wonder what your colleagues are doing?

If so, you're in luck. Every year, Vanguard comes out with a report that highlights trends from 401(k) plans and other retirement plans it administers, providing a glimpse into Americans' retirement strategies on a broad scale.

So let's dig in: how are other people managing their 401(k) accounts and how do your retirement savings stack up?