I sent a friend of mine a link to my new, shiny blog and she asked if FIRE is an acronym. Why yes, yes it is!
For the uninitiated, the acronym FIRE stands for Financially Independent, Retired Early.
Kristin Wong has a new post over on Lifehacker that provides an overview of the FIRE movement. In essence, by optimizing finances, a lot of bloggers in this community have been able to save upwards of 70+% of their income which has allowed them to retire in their 30s or 40s. (Mr Money Mustache’s post on the math of early retirement is a mind-blowing must-read.)
Why has this movement been so appealing to me? This quote explains it well:
“Financial independence ultimately means that you can shape your life without taking money into consideration,” said Tanja Hester, a recent FIRE graduate and founder of the website Our Next Life. “Most of us have to consider our finances in nearly every decision we make, or maybe even make decisions solely based on money. But once we reach financial independence, we get the freedom not to be bossed around by what we earn or what we have saved.”