What does the acronym 'FIRE' stand for in the context of early retirement?
Early Retirement 2 Cents

Quiz
•
Financial Education
•
12th Grade
•
Medium
Eric Thorson
Used 2+ times
FREE Resource
8 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Frugal Income; Retirement Essentials
Financial Investment; Retirement Expectations
Financial Independence; Retire Early
Fiscal Independence; Retirement Endowment
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the 4% rule, how much of your total savings should your yearly expenses stay below in order to live off them indefinitely?
8%
6%
4%
2%
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary method used by early-retirees to build their savings?
Investing in luxury items
Investing in stock-index funds
Investing in real estate
Stashing cash into a bank account
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the recommended savings rate for early-retirees in order to retire ahead of schedule?
50-75%
10-15%
25-30%
80-90%
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the amount a person would need in the bank to be financially independent if their annual spending needs are $40,000?
$1,000,000
$1,400,000
$800,000
$1,200,000
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary concept proposed by Vicki Robin in the book 'Your Money or Your Life'?
Extreme frugality for a few years to achieve financial independence
Investing in high-risk stocks for early retirement
Living a luxurious lifestyle to retire early
Relying on inheritance for financial independence
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary hurdle in achieving early retirement according to the text?
Finding a fulfilling job
Overcoming health issues
Building a large social network
Finances
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the recommended annual withdrawal rate of your money in retirement according to the 4% rule?
8%
4%
2%
6%
Similar Resources on Wayground
10 questions
Financial Health Quiz

Quiz
•
12th Grade
10 questions
Saving & Investment Strategies Final Assessment

Quiz
•
9th - 12th Grade
7 questions
Investing Vocabulary

Quiz
•
12th Grade
5 questions
FinLit Ch2.1 Questions

Quiz
•
12th Grade
13 questions
Investing in Treasury Funds

Quiz
•
9th - 12th Grade
8 questions
Econ Unit 1 Preview

Quiz
•
12th Grade
12 questions
Bank Account Types

Quiz
•
9th Grade - University
10 questions
Kinko Advance - Evaluation Homework

Quiz
•
9th Grade - University
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade