The FIRE movement, which stands for Financial Independence Retire Early, is a lifestyle movement that emphasises saving and investing early in life in order to achieve financial independence and early retirement. The basic principles of the FIRE movement include:
I. Saving aggressively II. Investing in low-cost index funds III. Reducing expenses IV. Increasing income streams
Ultimately, the main goal of FIRE is to be able to not rely on your 9-to-5 day job in order to support your lifestyle. The sooner you are able to become non-reliant on your job, the better. This frees up your time to pursue your passions and hobbies while you are still young and able-bodied without any financial stress. FIRE differs from more conventional ideas of retirement where the focus is on being able to sustain your spending in your twilight years with less...
