Opinion | Financial Focus: What early retirement really takes

The idea has never been more appealing: quit your 9-to-5 decades ahead of schedule and spend your days on your own terms. You may have heard of the FIRE movement, but what is it really and does the hype live up to reality? FIRE stands for Financial Independence, Retire Early. While some FIRE advocates focus on retiring early, others are more interested in achieving enough financial independence to gain greater flexibility over their career, lifestyle and future. Wherever your goal fall on that spectrum, FIRE is typically built around three commitments: high savings, frugal living and disciplined investing. Proponents generally save from 50% to 75% of their yearly income, according to CNBC Select, live more frugally and invest those savings for growth potential over time. Why FIRE resonates with some people It can help you prioritize.

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