FIRE (also known as Financially Independent, Retire Early) is a lifestyle movement that allows you to enjoy an early retirement, much earlier than the conventional age of 65 through extreme savings and investment, somewhere between 50-70% of your income. For some, it is not about retiring but about having the freedom to choose how to spend your life without having to worry about money.

This strategy is based on two common retirement strategies: the 25x Rule and the 4% Rule, each of which helps people set up “safe” rates of withdrawal from their retirement savings. FIRE practitioners aim to save 25x their annual expenses and typically withdraw 3% to 4% from their funds annually to cover their living expenses following early retirement. This requires extreme dedication in assessing, planning, and reallocating your investments from time to time to maintain the desired lifestyle.