The average person requires far less of their income to sustain themselves today than at any time in history. Unfortunately, many people have confused "wants" with "needs" and said, "Oh, life has never been tougher...especially for young people." Yes, housing is more expensive. But look at the cars on a university parking lot. Notice how few young people drive beaters (compared to years ago). Notice how many really young people drink at Starbucks, enjoy regular take-out food, have fancy clothes, eyelash extensions, and live lives that (once upon a time) only the rich could afford. That's lifestyle inflation, and a confusion of wants and needs.
But what about those who haven't fallen for that trap...who see life in a different way? This story is about them. Discover how the FIRE movement (Financial Independence, Retire Early) has shaped our spending habits and priorities.
Click to read the rest of my article at AES International
Andrew Hallam
