The FIRE concept is simple: Spend less than you earn and invest the difference in low-fee investments like ETFs. Over time, you then try to increase your savings rate gradually. You do that until you reach the point at which the total value of your assets is high enough to sustain your lifestyle.

Check out this video if you want to find out more about the FIRE concept, how it works, for who it works and what the pros and cons are.

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