Personal Finance The basics of Financial Independence and Retiring Early Updated : April 19, 2019 10:28 PM IST The reason it is called F.I.R.E is because the path for both is similar: Saving a large amount every month to reach your target as soon as possible via frugality and/or high income. The only difference is the target corpus needed and what you plan to do after you achieve it. F.I.R.E is less about not having to work ever and more about having the freedom to pursue your dreams in life. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.