FIRE:
The term FIRE is an acronym for "Financial Independence Retire Early". It is a movement that advocates financial freedom by saving and investing a large portion of one's income. The goal is to achieve a wealth that allows you to live off your investments without working for an employer.
The term FIRE is an acronym for "Financial Independence Retire Early". It is a movement that advocates financial freedom by saving and investing a large portion of one's income. The goal is to achieve a wealth that allows you to live off your investments without working for an employer.
Here is the image I have in mind when I talk about the FIRE movement: the freedom felt with this magnificent view of the Moléson
By achieving financial independence, you can reduce financial stress and increase your freedom of choice, whether in terms of career, travel or other activities.
Nevertheless, financial independence is an ambitious goal that requires discipline, savings and long-term investment.
When aiming for such a FIRE goal, high savings rates, investments in high-yielding assets, such as stocks, and careful management of your expenses are required.
Ultimately, the FIRE movement encourages each individual to take control of their financial situation, and pursue a more fulfilling and satisfying life.