Recently I have been little active on Reddit mainly because I get to know so many new things happening around the world. Most if them I am not aware at all. Like today I got to know different types of FIRE and we have actual name for each of them. I knew the FIRE movement and everyone will have some corpus and they will retire early. There are different types of FIRE like
PC: Pixabay.com
Lean FIRE: In this case you will reduce your expenses substantially. That means you need lower FIRE number and thus after retirement you will continue to live minimalists life. This can be achived little faster if you continue to stay frugal for your entire life.
Coast FIRE: In this case, they will save enough towards Financial Independence and once they achieved a number, they will stop investing and continue enjoying their money along with working.
Fat FIRE: In this case, you will spend lavishly after the retirement, like world tour, expensive hobbies and what not. And to achieve that you have to have a lot higher FIRE number which can sustain according to your lavish lifestyle.
Barista FIRE: I think this is the most common form of retirement, where you will retire along with that continue to work on your hobbies or take part time gig and continue working. This is actually becoming quite common where people are actually retiring and starting their YouTube channel, or trading and what not.
A you can see there is something for everyone. I hear people say thar they cannot retire early because 30 to 40 times their living expenses are too much. But there are other ways to retire early and thus you have to make some compromises for the same. Like either live a frugal life now or after retirement. Retire completely by saving a lot or semi retire and enjoy your time. Actually it's upto us how we want our life after certain age.
