Financial Independence, Retire Early (FIRE) is a lifestyle movement focused on achieving financial independence and early retirement through frugal living, aggressive saving, and strategic investing.
High Savings Rate: FIRE emphasizes saving around 50% or more of income, directing savings into investments for wealth accumulation.
Variations within FIRE: Different paths like LeanFIRE, FatFIRE, CoastFIRE, and more allow customization based on individual preferences and goals.
Adaptability: FIRE plans are adaptable to life changes and economic conditions, requiring flexibility for unforeseen challenges.
Geoarbitrage: Involves relocating to areas with lower living costs to accelerate financial independence.:
Financial Independence Milestone: Achieving a specific net worth or passive income target signifies financial independence.
Benefits of FIRE Movement: Freedom, reduced stress, early retirement, potential for meaningful work, and savings discipline. Staying informed about personal finance, investments, and economic trends is crucial.