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Ever thought you might retire at 40? Meet Ireland's extreme savers

The 'Fire' brigade: There's a whole community out there of Fire (Financial Independence, Retire Early) enthusiasts for whom this is the ultimate goal. But how realistic is it? Tanya Sweeney reports

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Financial independence: Monika Wojtysiak (35) takes a holiday every month. Picture by Ray Ryan

Financial independence: Monika Wojtysiak (35) takes a holiday every month. Picture by Ray Ryan

Forward planning: Mary MacRory started investing in shares at an early age. Picture by Frank Mc Grath

Forward planning: Mary MacRory started investing in shares at an early age. Picture by Frank Mc Grath

'Last hurdle in sight': Aoife Gaffney

'Last hurdle in sight': Aoife Gaffney

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Financial independence: Monika Wojtysiak (35) takes a holiday every month. Picture by Ray Ryan

Look after the pennies and the pounds will look after themselves, right? We've been taught it since we were old enough to shake a piggy bank, but for a growing number of Irish people, it's the cornerstone of a whole new financial plan.

Welcome to Fire (financial independence, retire early), a lifestyle movement favoured by those who want to achieve financial freedom, or get to a point where income from other sources covers expenses, while they're young enough to fully enjoy it. Often, the goal is achieved through 'aggressive' saving, as well as other endeavours: investment, side hustles, clearing debts, and creating a passive or residual income.

Vincent Doherty organises the Dublin Meetup group of Financial Independence Ireland; where around 135 members, aged from their early 20s to late 60s, convene to compare notes, advice and tips on the journey towards financial independence.


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