Financial Independence — Why some people aim for freedom, not just wealth.
Financial independence means having enough assets or passive income to cover your needs without depending on a paycheck. It turns work into a choice.
FIRE: Financial independence retire early: saving and investing aggressively to reach freedom from required work sooner than usual.
At its core it is about buying back your time, not about being rich. A modest lifestyle can reach it without a fortune.
FI number: A rough target for the assets needed so investment returns could cover your yearly expenses. It is a planning guideline, not a guarantee.
The often cited 4 percent idea comes from historical averages. Real outcomes depend on markets and spending, so treat it as a rough tool.
12 practice questions with explanations. Free, and no account is needed to start.