What Are the Principles of F.I.R.E (Financial Independence Retire Early)?

One of the most important financial decisions people consider is when they should retire. Most workers adhere to a traditional work timeline, deciding to leave the workforce in their mid-sixties or later. However, there are some who employ strict financial practices with the goal of retiring far sooner. These people achieve early retirement by adopting the principles of the F.I.R.E. movement, which is an acronym that stands for Financial Independence Retire Early. The principles of FIRE center around extreme frugality, savings, and investments. How Does FIRE Work?  The primary way of achieving early retirement through FIRE is to reduce expenses and increase savings/investments. Oftentimes, to have the assets needed for early retirement, individuals must find ways to increase their main source of income or diversify their income streams. People adhering to the principles of FIRE invest as much as possible in a range of investments that help them reach their early retirement goals.  One thing to consider regarding FIRE is that it often requires a drastic reduction in expenses needed to create more disposable income available for investing. FIRE participants save as much as 70%