How radical scheme is seeing millennials aim to retire at early age

One retirement experiment is struggling to see how a growing financial movement could see people retire before the age of 50.

A new trend called FIRE (Financial Independence, Retire Early) is seeing younger people try and aim to retire between the ages of 30 and 50.

AMP Director of Retirement Ben Hillier said it would be virtually impossible for anyone who has a mortgage or is renting.

“You’d have to be lucky or your needs are going to be very meagre,” he told Shane McInnes on 3AW Drive.

“I can’t see anyone who could rent and be retiring at such a young age.”