When finance experts Vicki Robin and Joe Dominguez wrote “Your Money or Your Life” in 1992, they started a movement. Millennials watched their baby boomer parents toil in corporate America for the faraway promise of a pension, and set different goals for themselves: Financial Independence, Retire Early (FIRE).

But is the FIRE Movement still relevant, or even possible, today? We prompted ChatGPT for some answers.

I gave this prompt to ChatGPT: “Pretend I am an ‘elder millennial,’ roughly 35 to 40-ish. I want to retire early, and I’ve heard of the FIRE movement, but I would like to know: What’s the secret to retiring early without downsizing my lifestyle? Goal would be to retire between 45 and 55, at the latest!”

ChatGPT delivered what it called “the honest, non-Instagram version,” with five tips.

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ChatGPT said that most FIRE people get hung up on how much they earn. What actually moves the needle is:

A savings rate of 30% to 40% can get someone to retirement in their late 40s or early 50s with very little lifestyle change later. If 40% sounds impossible, don’t stress — most people ramp up slowly as income increases.

It’s a famous adage in the business world: “It’s not what you earn, it’s what you keep.” ChatGPT is drawing on the wisdom of the greats to share this advice.

It’s also testament to the power of compound interest, sometimes called “the eighth wonder of the world.”

ChatGPT said: Serious early retirees don’t wait for “extra money.” They set up monthly transfers to a brokerage and automatic 401(k)/individual retirement account (IRA) contributions.

In a recent GOBankingRates article on money resolutions for 2026, Julie Guntrip, head of financial wellness at Jenius Bank, recommended automating your savings. This is a solid tip.

ChatGPT said: You can’t usually save your way to early retirement unless you’re earning a solid six figures. Even then, lifestyle creep gets real.

What works better:

Freelance or consulting income

A side business

Rental income

Dividend/heavy index investing

Equity in something that grows

This doesn’t mean you need to hustle forever. Just for five to 10 years while you’re building the snowball.

Finance expert Jaspreet Singh frequently talks about generating multiple streams of income on his YouTube channel, Minority Mindset. Additional funds to save or invest can come from a side gig, business investments or passive income through things like dividend stocks.

Most people hear “FIRE” and think of people who live in vans and cut their own hair. That’s one version. The version most elder millennials want is more like:

Stop buying stuff that doesn’t matter

Fund the stuff that makes your life great

Redirect everything else into investments

You don’t have to downsize your lifestyle — you just have to consciously size it.

Trends like quiet luxury and minimalism speak to the current zeitgeist of investing in what matters, including experiences and well-made clothes that will last longer than fast fashion.

ChatGPT said: If you leave the workforce before you qualify for Medicare, the biggest financial hit is usually:

Whether you’re relying on a part-time job with benefits, a spouse’s healthcare coverage or a health savings account (HSA) you can tap into, you don’t want to skip this step.

Even retirees who qualify for Medicare often underestimate healthcare costs. Some retirees spend $1,800 per month on healthcare monthly, GOBankingRates previously reported.

With the Affordable Care Act (ACA) facing an uncertain future, it’s especially important to plan for healthcare in retirement.

Here’s the final take, straight from ChatGPT: “The ‘secret’ is that there isn’t one single trick — it’s a combination of starting early, being intentional and building multiple income engines. Early retirement with your lifestyle intact is basically math plus habits.”

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This article originally appeared on GOBankingRates.com: I Asked ChatGPT the Secret To Retiring Early Without Downsizing My Lifestyle: Here’s What It Said