If you’ve made it here, then you’re probably quite interested in the FIRE movement and how it might work for you. This is a good place to go into the various types of FIRE there are.

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The first one we’ll look at is Lean FIRE. Lean FIRE is on the serious side of thrifty, and is grounded in the principle of extreme frugality and minimalism, where individuals prioritise cutting unnecessary expenses to the bare essentials. This allows people to accumulate wealth more quickly and retire early, all while embracing a lifestyle that emphasises living simply, Lean FIRE will involve very careful budgeting, reducing almost all discretionary spending, and finding creative ways to enjoy life without the financial burdens associated with traditional consumerism. Lean FIRE is usually also associated with maintaining a minimalistic lifestyle after retirement, which does necessitate a smaller pot being built for you to retire.

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You’ve probably worked this out already, but Fat FIRE is on the opposite side of the FIRE spectrum. Fat FITE is still centered around the principle of achieving financial independence early, but with a more comfortable lifestyle in retirement. To do this, individuals will need to build a substantial nest egg, often significantly larger than that required for Lean FIRE. This is done by investing aggressively and maximising income through higher-paying jobs or entrepreneurial ventures, enabling people to enjoy greater spending flexibility, travel, and indulge in luxuries without the constraints of a strict budget, all while still adhering to disciplined saving and investment strategies to ensure long-term financial security. 

 

Barista FIRE is characterised by the principle of achieving financial independence while maintaining a part-time job or side hustle to supplement income in retirement, allowing individuals to enjoy a more balanced lifestyle that combines the freedom of early retirement with the security of ongoing earnings to cover essential expenses or allow you additional spending power. Barista FIRE still embraces a frugal mindset and strategic investing, without the pressure of living entirely off their savings.

 

Finally, Coast FIRE is based on the principles of reaching a level of savings and investments very early, allowing these to naturally accumulate over the years as individuals to "coast" toward financial independence. This approach takes away the need to aggressively save or work during a persons working years, as they have already accumulated enough wealth, that will grow over time, to enable them to focus on enjoying their current lifestyle, pursuing passions, or working in less demanding jobs.