Catch Phrase | FIRE

Writer: Li Dan  |  Editor: Zhang Chanwen  |  From: Shenzhen Daily  |  Updated: 2022-09-09


If you look at Douban, a topics-based Chinese social network popular among the young, you will come upon many groups with labels related to “FIRE.” A borrowed acronym from English that means “Financial Independence, Retire Early,” FIRE is a social movement of people devoted to a program of extreme savings and investment that aims to allow them to retire far earlier than traditional budgets and retirement plans would permit. Born out of the 1992 best-selling book “Your Money or Your Life” by Vicki Robin and Joe Dominguez, FIRE came to embody a core premise of the book: People should evaluate every expense in terms of the number of working hours it took to pay for it. By saving up to 70% of their annual income, FIRE retirement proponents intend to retire early and live off small withdrawals from their accumulated funds. They hope to be able to quit their jobs decades before they reach 65. In recent years, millennials in particular have embraced pursuing FIRE retirements.


A: 听说你哥辞职回老家了?

Tīngshuō nǐ gē cízhí huí lǎojiā le?

Is it true that your elder brother quit his job and returned to his hometown?

B: 是的,在大厂干了五年以后他决定FIRE了。

Shì de,zài dàchǎng gàn le wǔnián yǐhòu tā juédìng FIRE le。

True. After working with an internet giant for five years, he decided to take a FIRE retirement.