FIRE

This is an acronym that stands for Financial Independence, Retire Early. FIRE is a financial independence movement aimed at helping people retire earlier than conventional retirement plans would permit. By saving up to 70% of their annual income, FIRE proponents aim to retire early and live off small withdrawals from their accumulated funds. The idea was borne out of the 1992 best-selling book Your Money or Your Life by Vicki Robin who believed that people should evaluate every expense in terms of the number of working hours that it took to pay for it.