Financial Independence, Retire Early (FIRE)

FIRE is a financial movement of extreme savings and investment that allows proponents to retire far earlier than traditional budgets and retirement plans would allow.

• By dedicating up to 70% of income to savings, followers of the FIRE movement may eventually be able to quit their jobs and live solely off small withdrawals from their portfolios decades before the conventional retirement age of 65.
• To cover their living expenses after retiring at a young age, FIRE devotees make small withdrawals from their savings, typically around 3% to 4% yearly.