You may have heard people speak of it casually or have hyper focused goals to it.
FIRE (Financial Independence, Retire Early) is a lifestyle movement focused on achieving financial independence and retiring early. The movement emphasizes saving and investing a significant portion of one’s income in order to reach financial freedom as quickly as possible.
The concept of FIRE is based on the idea that if individuals can save and invest enough money early on in their careers, they can achieve financial independence at a younger age and retire earlier than the traditional retirement age of 65. To achieve financial independence, individuals typically aim to accumulate enough wealth to cover their living expenses without having to rely on traditional employment income.
The FIRE movement encourages individuals to live frugally, reduce expenses, and invest heavily in stocks, bonds, and other assets that generate passive income. By doing so, individuals can reach financial independence and retire early, allowing them to pursue other interests and activities without the need to work a traditional job.
While the FIRE movement can be challenging to achieve, it has gained popularity in recent years as more people seek financial freedom and a more flexible lifestyle.
What are the different types of FIRE (Financial Independence, Retire Early)?