FIRE—Financial Independence, Retire Early
The FIRE Lifestyle is a movement designed to empower people to take charge of their finances and create a solid plan to retire early.
This movement gained traction in the early 90s after the book Your Money or Your Life by Vicki Robin and Joe Dominguez was released. In the nearly three decades since publication, this philosophy has inspired thousands of people to make drastic changes to their lifestyle and live a FIRE life.
FIRE, or Financial Independence, Retire Early, can be implemented into one’s life by considering income, living expenses, debts, and savings rates, and learning how to optimize them. Advocates for the FIRE movement suggest saving as aggressively as possible to accumulate enough assets to live off of the passive income generated through investing and interest.