Financial Independence, Retire Early (FIRE): How It Works

What Is Financial Independence, Retire Early (FIRE)?

Financial Independence, Retire Early (FIRE) is a movement of people devoted to a program of extreme savings and investment with the goal of retiring far earlier than traditional budgets and retirement plans would permit.

The 1992 best-selling book Your Money or Your Life by Vicki Robin and Joe Dominguez popularized many of the concepts used by people in this movement. The origins of the term and acronym FIRE are unknown, but the term came to embody a core premise of the book: People should evaluate every expense in terms of the number of working hours it took to pay for it.

Key Takeaways

  • Financial Independence, Retire Early (FIRE) is a financial movement defined by…

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