The Fire Movement

Retiring Early Through Financial Independence

Retiring early isn’t just a dream for some—it’s a movement known as Financial Independence, Retire Early (FIRE), which has gained momentum across the U.S. The concept began in the early 1990s when former Wall Street analyst Joe Dominguez shared his story in the book Your Money or Your Life. Dominguez retired at 31 and never returned to traditional work, enjoying total financial independence. His story resonated during the 2008 financial crisis, as many began questioning the idea of working until age 65 and instead explored retiring younger, with more freedom to pursue their passions.

What is the FIRE Movement?

The FIRE movement is built on aggressive saving and frugality, allowing individuals to achieve financial independence and retire well before the typical retirement age of 65. The core principles of FIRE include:

• Spend as Little as Possible: Cut back on unnecessary expenses like dining out, vacations, or buying brand-name goods. Instead, focus on low-cost alternatives like biking to work or sharing living spaces with friends.
• Save as Much as Possible: The goal is to save 50% to 70% of your income by minimizing your expenses and building a financial cushion that will support your future. The more you save, the faster you can retire.
• Earn as Much as Possible: Maximize income through promotions, side hustles, or smart investments. Income-generating activities take precedence, allowing you to reach financial independence faster.
• Set a Retirement Goal: FIRE advocates set specific financial targets and retire once those are achieved, often in their 30s or 40s. Even if you’re older, you can still modify the principles of FIRE to retire earlier than traditional retirement age.

FIRE vs. Coasting

While total financial independence may seem appealing, some find boredom or overspending to be challenges after achieving FIRE. One alternative is coasting—instead of retiring completely, you can downshift to a less demanding, enjoyable job. This way, you continue earning money while enjoying the benefits of financial freedom without the pressure of maintaining high income levels.

Is FIRE for Everyone?

The FIRE (Financial Independence, Retire Early) approach is a bold strategy that requires aggressive savings, disciplined investing, and often a significant lead-up time to be successful. While it can be an exciting goal for some, it may not be the best fit for everyone, especially if you are already closer to retirement. Without the proper amount of time and resources, the FIRE method can be a detriment rather than a pathway to an early retirement. 

If you’re wondering whether you have enough saved to retire soon—or just want to explore the best options available for your unique situation—we’re here to help. We gather information about your current and future income using personal budgets and goals, mix that with tax and health insurance requirements, and create a personalized retirement blueprint to see if an early retirement is both feasible and stress-free. 

We look forward to guiding you toward a secure and comfortable retirement.