F.I.R.E. is an acronym. It stands for Financial Independence Retire Early. There’s a growing movement of people who are practicing FIRE principles and retiring decades earlier than expected as a result. Smart, often middle-income earners are using a simple formula of high savings rates (50-70% of their incomes) + frugal living (minimalism) + low-cost stock index fund investing (Warren Buffett’s standard investment advice) in order to reach financial independence within short–usually around 10-year periods–of time. For obvious reasons, FIRE is sometimes referred to as “the ultimate life hack.” (this definition taken from Playing With Fire). Look onward for these hot resources below!
- Read: Vicki Robin wrote Your Money or Your Life in 1992, on the topic of personal finance. In this interview with MarketWatch, she expands her definition of financial independence to financial interdependence. Read more here in How Much is Enough?
- Listen: Early retirement has become a popular dream, especially in the FIRE community, but many are spending too much to make it a reality. In this podcast episode, David Stein explores why the tendency to spend too much is such a large part of our culture. Listen the whole way through to learn about practical ways you can filter your spending for greater savings and earlier retirement.
- Watch: There is a documentary on this entire FIRE movement that will be released soon. Watch the trailer here and sign up to be notified when it’s available to view full-form!
Just a reminder: we have an entire page dedicated to FIRE, other financial topics, as well as all of our archived newsletters on our Resources page.
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You can click on the links below to access this month’s resources. Thanks for reading, listening, and watching!