Glossary, Acronyms, and More

    The economic and financial world is always changing and evolving in complexity. The only constant is the use of confusing acronyms and terminology that can be difficult to understand.

This post is intended to be an alphabetically sorted master list of terminology in the financial world that is used to help provide clarification in this complex field.

FI: Financial Independence: Not needing to rely on income from employment, and instead, generating the income from other means such as a business, social media, e-commerce, investments, real estate, and more (otherwise known as passive income).

FIRE: Financial Independence, Retire Early: Similar to the acronym FI, the goal of FIRE is to achieve FI, and retire earlier than you originally expected. This age varies with each individual.

J2FI: Journey to Financial Independence: This is just the name of the website/blog you are reading.

Passive Income: Money earned on the side of your main employment income, usually done with minimal effort (although this is not always the case). Examples may include rental income, dividend stocks, etc.