'Shark Tank's' kevinolearytv explains why FIRE (financial independence, retire early) 'doesn't work.'
The concept of FIRE — financial independence, retire early — is a growing movement that has ignited among young people. There is a litany of blogs, podcasts and Facebook groups dedicated to helping people retire early, sometimes even in their 30s or 40s, by practicing habits like extreme frugality, saving or investment.
O'Leary sold his first company, Softkey Software Products , to the Mattel Toy Company with nine other co-founders for $4.2 billion in 1999. Indeed, research has found that there are a number of health benefits linked to older-age retirement, including a decreased risk of dementia. And a paper published by the National Bureau of Economic Research found that social contacts are a side effect of employment that keeps workers mentally agile, and that even disliked colleagues and bad bosses are better than social isolation because they help keep the mind healthy and active.
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