FIRE stands for "Financial Independence, Retire Early." It is a movement or lifestyle choice that aims to allow individuals to retire much earlier than the typical retirement age by saving and investing a significant portion of their income and living frugally. The goal of FIRE is to achieve financial independence, which is defined as having enough passive income or assets to cover one's living expenses without the need to work for pay.
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Saving for FIRE is the last thing on the minds of most people. Although almost everyone dreams of being financially independent and retiring early, very few are doing anything about it. Americans ...