Representational ImagePersonal finance is a broad concept, and there are many innovative ways to manage money. Frugality, extreme saving, and investment are the cornerstones of the new personal finance movement known as FIRE. Financial Independence, Retire Early (FIRE) is a group of individuals committed to a programme of extreme saving and investing with the goal of enabling them to retire much earlier than would be possible with conventional budgets and retirement plans. FIRE believers typically take out between 3% and 4% of their savings each year to cover their living expenses after early retirement. FIRE supporters want to avoid overconsumption and live simpler lives both while they are working and after they retire.

Source: dna September 27, 2022 05:24 UTC