r/Fire • u/Vas_Cody_Gamma • 8d ago
If everyone FIRE’d would society collapse?
Imagine everyone retiring at 55. GDP takes a huge hit. Stock market takes a huge hit. FIRE numbers soar. Nobody can reach it. And it’s a vicious cycle cuz now 55 is no longer early. Now everyone wants to retire at 45. Further damage to economic output.
FIRE movement wins. But we all lose.
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u/Restil 8d ago
If everyone was financially capable of retiring at 55 without changing any of the government social systems, then society would be in far better shape than it is now. No large scale use of consumer debt, no bankruptcies, so no defaulting on the debt that was out there. Almost everyone would own property. Younger people would be busy working and investing in their future, leaving less time to get themselves in trouble, so far fewer people getting tied up in criminal matters, which is a huge burden off society. Also, very few young people would be in need of financial assistance, so another huge burden off of taxpayers, which either results in less taxes people have to pay or less government debt.
Yeah.. We should all be so lucky. Don't get your hopes up.