I see a lot written about FIRE can you explain what each letter means?

[Wetfly93]

My husband has been reading this for some time and I just became a member. I would like to know what the acronym FIRE stands for. You use many acronyms on this site but I could not find anyplace to search for meanings. Can someone please help me. Thanks

 

[SevenUp]

See * Acronyms, abbreviations and Slang Frequently Used on the Forum * - Early Retirement & Financial Independence Community

 

[pb4uski]

Financial Independence Retire Early or some claim F It, Retire Early

 

[camfused]

You now have the surface definition, but the deeper definition means different things to different folks. Such as, what financial means to you, what does independent mean to you, etc. These threads all explore different aspects of all that, and I am constantly learning new things here.

Since I FIREd 5+ years ago, all of these aspects have been changing meaning for me too.

 

[mrfeh]

google.com/search?q=fire+acronym

 

[socca]

FIRE = Find Interesting, Relaxing Entertainment

 

[latexman]

FIRE

 

[38Chevy454]

Several previous replies stated the acronym. I view it as two distinct, but related parts:
Financial Independence = you have sufficient total investments that are able to meet your desired std of living budget needs; i.e. you do not have to work. The money you need can come from many varied sources: pension, savings, real estate, SS, royalties, or whatever else can bring you money.
Retire Early = retirement at an earlier age than typical. You obviously can't retire with the desired std of living you want if you do not have sufficient financial resources - see Financial Independence. Early is a varied term, we have had several discussions on what retired early represents.

 

[HI Bill]

Yes, and there are variants with loose definitions depending on spending levels in retirement (Lean FIRE, Fat FIRE). Most of the press today goes to people trying to ER super early (30s, 40s), but most here ER around 50-55, and most here save enough to have a comfortable lifestyle with enough assets to weather most economic storms.

 

[jazz4cash]

Yes, and there are variants with loose definitions depending on spending levels in retirement (Lean FIRE, Fat FIRE). Most of the press today goes to people trying to ER super early (30s, 40s), but most here ER around 50-55, and most here save enough to have a comfortable lifestyle with enough assets to weather most economic storms.

Yeah. Most of what I see outside this forum discusses extreme frugality to achieve FI but members here seem to be more focused on reasonable spending and saving.

 

[frayne]

Financial Independence, Retire Early (the traditional meaning)
Freedom In Retirement Endeavor
Fiscal Independence, Resourceful Endeavors
Frugality, Investing, Retirement Empowerment
Future Income, Resilience, Exploration
Financially Independent, Ready to Exit
Fortune Increasing, Retirement Engaged
Financially Inspired, Resolute Effort
Forward Innovation, Resilience, Empowerment
Fulfilling Individual Retirement Expectations

 

[Gumby]

I always thought it came from the Battle of the Hydaspes in 326 BC - Fierce Indians Riding Elephants.

 

[Wetfly93]

What does FIRE stand for?

Thank you everyone for your input. Love it

 

[Toocold]

I think this forum is the original ER crew, and I'm pretty sure this is where the term FIRE was first coined. I would say this is Gen X+ age. I would say most have already achieved FIRE, so are very chill (mostly ).

I think MMM (Mr. Money Moustache) forum is where the Millennials are and I think they came up with variations of FIRE. I think they popularized it more -- look at me, I'm 38 and I'm retired! Then the natural gyrations - you aren't retired, you have real estate and that's not passive! Forget about ER, you should focus on FI!

Not sure where the Gen Z group hangs out. Probably reddit.

 

[Wetfly93]

I see a lot written about FIRE

I am retired well over 10 years, I enjoy listening to FIDO webinars, learning new ideas and seeing what other people give for advice. I have been prudent and frugal for most of my life, we do most things ourselves if able. Reading learning understanding keeps me up to date. I still do my own taxes and estimates. I love the questions that are asked in the forums and my husband and I enjoy speaking of the answers while on our daily walks. Do we agree, what information as not given and what would we each suggest. Great forum to spend time reading each day. Thank you

 

[Koolau]

FI and RE are often two distinct things and times in the process.

I was FI (Financially Independent) 7 years before RE (Retire early.)

Long story mentioned elsewhere but I was enjoying my j*b for those 7 years. The minute I wasn't enjoying it, I retired. Being financially independent was nice as I could pull the plug at any time. FI is more important to me than RE but YMMV.

 

[rodi]

As mentioned there are flavors of FIRE and retirement police.

I would also dispute that just are genx... there are a lot of boomers here also.

SIRE - secure income retire early... people with pensions that cover their spending.

There are many that will state you are not retired if your spouse still works.

There are many that will state you are not retired if you have rental income because that is like a job.

There are many that state if you get income from a blog or write books as hobby that generate income you are not fired.

I can tell you that as sometime who has a granny flat that generates rental income, I felt retired when I walked out after my last day as an engineer. Despite spending about 30 hours a *year* on managing the rental, I sure feel retired. (Today was 3 seconds worth, reading the text that said tenant has paid rent by zelle).

 

[livingalmostlarge]

What does SWAMI stand for in FIRE?

 

[Koolau]

What does SWAMI stand for in FIRE?

I give!

 

[Gumby]

Google tells me it is a term arising in the Mr. Money Moustache site (SWAMI = Satisfied Working Advanced Mustachian Individual) and apparently was used to mean a person is financially independent but still works because they like it.

 

[LateToFIRE]

Financial Independence, Retire Early (the traditional meaning)
Freedom In Retirement Endeavor
Fiscal Independence, Resourceful Endeavors
Frugality, Investing, Retirement Empowerment
Future Income, Resilience, Exploration
Financially Independent, Ready to Exit
Fortune Increasing, Retirement Engaged
Financially Inspired, Resolute Effort
Forward Innovation, Resilience, Empowerment
Fulfilling Individual Retirement Expectations

Good ones! I'm gonna go with:

Fiscally Independent Resilient & Empowered.

 

[LateToFIRE]

FYI, I've read of multiple flavors of FIRE.

For example:

Coast_FIRE - downshifting to less stressful work on the way to FIRE
Barista_FIRE - same as Coast_FIRE
Morbidly_Obese_FIRE - richly retired
Fat_FIRE - retired and living large
Chubby_FIRE - retired to an upper middle lifestyle
Expat_FIRE - FIRE via geo-arbitrage
Poverty_FIRE - retired on a shoestring
Lean_FIRE - same as Poverty_FIRE

 

[LateToFIRE]

As others have mentioned, FI and RE are related but separate concepts. I was FI about 10 years before I RE'd. Happen to really enjoy my work, but essentially aged/managed out. Hard to quite think of myself as retired - I prefer to think of it as working for myself now. I manage our assets and investments for income and growth, for which I am handsomely compensated in life enjoyment.

 

[imnontrad]

The usual definition of FIRE is "Financial Independence, Retire Early"
But my definition is "Financial Independence, Refocus Energy"
My definition applies to ANY age, not just those under 50.

 

[Major Tom]

My gosh, so many definitions, labels, and acronyms to remember. Learning the basics of how to actually save and invest for retirement is easier!