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The FIRE movement focuses on saving, investing, and retiring early from "summary" of Playing with FIRE (Financial Independence Retire Early) by Scott Rieckens
The FIRE movement is all about maximizing your savings rate and investing the difference in order to achieve financial independence and retire early. It’s a way of life that involves making intentional choices about spending and saving, with the ultimate goal of generating enough passive income to cover your expenses without needing to work for a paycheck. The first step in the FIRE journey is to save as much money as possible. This means cutting back on unnecessary expenses, living below your means, and finding ways to increase your income. By saving a large percentage of your income, you can accelerate your path to financial independence and early retirement. Once you have a substantial amount of money saved, the next step is to invest it wisely. The key to successful investing is to create a diversified portfolio that is aligned with your risk tolerance and financial goals. By investing in a mix of stoc...
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