A Hollywood producer spent over a year figuring out why millennials all want to retire early, and the reason should worry the rest of us – Finance

  • Early retirement according to a Hollywood producer who recently shot a documentary about Early retirement,
  • Emmy-nominee Travis Shakespeare said that social protection and health care “social protection systems” are developing and possibly “under threat”, prompting more young people to take control of their lives by retiring early.
  • This is consistent with various reasons. early retirees told Business Insider that they retired early, none of which is not related to money.

Early Care may provoke dreams of putting days on the beach, but this is not the biggest reason why it has become so attractive.

Instead, Early retirement picks up steam because young people have a general panic in the future – at least according to Hollywood producer Travis Shakespeare, who recently shot a documentary Playing with fire,

The film follows a password of 30 people navigating financial independence and early retirement (FIRE), and explores this trend through conversations with more than a dozen early retirees.

“Because of the Internet, and we are constantly bombarded with all this information every day, every day, there is a sense of uncertainty about the future – I think that more than we have probably been in society,” said Shakespeare in recent podcast from Brandon Mad pioristawho resigned at the age of 34.

He added that the social protection and health care “social protection systems” are developing and may be “under threat.”

He continued: “In addition, the financial services community — I was going to get conspiratorial — they forced the individual to take charge of their financial future. And we are very unprepared for this, because we do not teach financial literacy to anyone. ”

Instead, he said, American culture taught society to be consumers, believing that you earn money to spend it. "And this is a lie," said Shakespeare.

“So, there is a feeling that all this is simply crumbling, I think,” he said. "And therefore the idea of ​​being able to have some control and some knowledge and some kind of agency over my own life, I think, is very attractive."

This concept is not far from various reasons that early retirees had previously indicated to Business Insider why they retired early – none of them has anything to do with money.

"Money was the main motive for my entire adult life, but now that I have enough, I had to find new sources of motivation, ”Brandon previously told Business Insider,

Grant Sabatier, who retired at the age of 30 with $ 1.25 million and presented in a Shakespeare documentary, said that financial independence was always time, not money. In the message published in Business Insider, he explained that time becomes more valuable as we age, because we have less.

“If you consider money as a goal, you will miss the point,” he wrote. "Money is infinite, but there is no time."

He added: “For me, early retirement simply meant having enough money so that I would not have to worry about money and, finally, follow my passions and find new passions.”

This illustrates the desire for control of life, which Shakespeare spoke of. But will this desire be enough to inspire people to retreat against the standard narrative and jump on early retirement?

As Shakespeare says, "I think it would be radical if we could get 10% of the total population on board, so that we are here."

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