FIRE Plan

What are components of the FIRE movement?

• To retire as early as possible

• To amass sufficient amount of wealth

• To live a frugal lifestyle

• All of the above

Which of the following is NOT a common strategy for achieving FIRE?

• Saving a high percentage of your income

• Investing in low-cost index funds

• Buying luxury cars and designer clothing

• Living frugally and avoiding lifestyle inflation

What is the "Fat FIRE" movement?

• A movement focused on amassing a large amount of wealth and living a lavish lifestyle in retirement

• A movement focused on saving a large percentage of your income and investing it in risky assets

• A movement focused on saving a large percentage of your income and investing it in low-cost index funds

• A movement focused on retiring as early as possible and living a frugal lifestyle in retirement

What is the main difference between Lean FIRE and Fat FIRE?

• Lean FIRE focuses on retire as early as possible while Fat FIRE focuses on amassing a large amount of wealth

• Lean FIRE focuses on investing in high-risk assets, while Fat FIRE focuses on low-risk investments

• Lean FIRE focuses on minimal living expenses while Fat FIRE focuses on living a lavish lifestyle

• None of the above

What does F.I.R.E stand for in the context of financial planning?

• A) Financial Independence Reap Earnings

• B) Financial Intelligence Retire Effortlessly

• C) Financial Independence Retire Early

• D) Financial Investment Risk Evaluation

What is Barista FIRE?

• a) Part-time work for retirement

• b) Early retirement and luxury

• c) Frugal part-time work

• d) None of the above

To be rich, focus on building real ___

• Assets

• Liabilities

The power of ___ will help you retire much before you planned.

Which component is NOT a key component of achieving F.I.R.E retirement?

• A) Detailed planning

• B) Economic discipline

• C) Wise investment

• D) High credit card usage