CARE Instead of FIRE?

I’ve read a lot about the FIRE (Financial Independence Retire Early) movement. I’m a big fan of Mr. Money Mustache, one of the earliest proponents of FIRE. But having retired at 53, I’m a bit old to be considered FIRE (which seems to be geared toward people who retire around age 40 or younger.) 

Is there an acronym for people who retire early, but not extremely early? I’m calling it the CARE movement:  Career Achievement Retire Early.

What is CARE?

CARE describes people who decide to retire early because they feel they’ve achieved everything they wanted to in their careers and now want to spend their time working on themselves instead of working for a paycheck. As with FIRE, CARE is for people who practice living beneath their means and who have invested diligently for their future.

CARE is about betting on yourself. Betting that you will improve your health span by leaving the workforce 10-15 years sooner than your full retirement age. Especially if your job forces you to be sedentary which is seriously bad for your health. Instead of devoting 40-50 hours per week working for a paycheck, CARE allows you to allocate that time to time taking care of yourself. Spending your time regularly working out, cooking your own food for a healthier diet, having the time to devote to relationships and engaging in pursuits and activities that bring you joy. Or, it could mean starting a new career or volunteering to do something you’re passionate about.

CARE is not about escaping a job you hate. It’s not about running from something. It’s about running to something. CARE is about pursuing health, happiness and self-actualization. 

Aim for CARE if FIRE is too extreme

This philosophy of CARE can be a goal for anyone. Maybe FIRE is too extreme for you. Why not aim for CARE? Figure out what you want to achieve in your career and go for it. While doing so, live frugally and beneath your means. As with FIRE, identify your CARE number (the estimated amount of money you think you’ll need to retire). Invest diligently – most likely over a longer period of time than traditional FIRE. Enjoy both work and life now. Pursue your goals on the job AND identify and enjoy your hobbies and core pursuits.

Taking the time now to figure out both your career goals and longer-term life goals will help you know when it’s the right time for you to retire and prepare you to pursue CARE successfully full time.

Engage with us! In the comments, talk about what activities are enriching your quality of life now. What will you be running to in the future?