FIRE Movement: What It Is, How It Works
What is the FIRE movement?
FIRE stands for “Financial Independence, Retire Early.” It’s a financial movement that prioritizes intense budgeting, saving and investing to reach retirement age before the typical retirement ages of 65 to 70, allowing people to leave the workforce early and live their lives as they choose to.
While the origins of the acronym are unknown, the FIRE movement was popularized in the book “Your Money or Your Life” by Joe Dominguez and Vicki Robin, first published in 1992. The book details one’s relationship with money to achieve financial independence and live a life that aligns with one’s goals and values.
“It’s basically having the financial flexibility to have the ultimate life flexibility,” says Rachael…
