Want to leave the 9-6 job life as soon as possible? The FIRE model will come in handy, the account will remain full even after the job

Nowadays the pressure in the job has increased so much for the people that sometimes it becomes difficult to handle it. On the other hand, if we talk about government jobs, then doing the same work every day becomes quite boring. In such a situation, many times the employed person feels like leaving the job soon and now lives a life according to his wish, where there is no interference from anyone. If this happens to you too, then you can think of adopting the FIRE Model. The FIRE model helps you in early retirement.

In the FIRE model, FIRE means Financial Independence Retire Early. This is a financial model that tells a strategy to achieve individual financial independence. FIRE model started in the year 1992 with the book Your Money or Your Life by Vicky Robin and Joe Dominguez.

In the FIRE model, you can set your retirement age. Meaning, if you want to retire early, then by adopting this model you can collect so much money for your future that you do not have any financial problems after retirement.

To adopt the FIRE Model, you will first have to decide the FIRE Number, that is, at what age you want to fire yourself from your job. Also, to adopt this model, you will have to cut down your current expenses and save as much money as possible.

The FIRE Model is an aggressive method of saving and investing. In this, a man works for many years and saves up to 70-75% of his annual income and runs his expenses with the remaining 25-30%. When his savings become about 30 times or more of his annual expenses, he can leave his job.

After deciding the FIRE Number, you have to calculate how many years of job you have left now and how much money will you have to save in those years to add about 30 times the amount of your annual expenses. According to this, you will be able to decide how much percentage of your income you have to save and how much money to meet your expenses. Invest the savings in a place where your money grows fast and there is no shortage of money after retirement.

If you feel that you will not be able to save that much from your salary, then you should focus on increasing your income. For this, you will have to focus on a high-paying job. Apart from the job, you will have to focus on side income. The more aggressively you save money, the faster you will be able to achieve the target number.