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What does FIRE even mean?
Eventually in your personal finance journey you get to a point where you are functionally on auto-pilot until you reach your “financial independence number” or FIRE Number. Your FIRE Number is the investment balance at which, theoretically, you could withdraw from to maintain your current lifestyle for longer than you plan to remain alive without depleting the account. That was a really morbid way of putting that… sorry. It’s basically the amount of investments you need to be self-sustaining for the rest of your life.
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