FIRE isn't one-size-fits-all. The movement has developed several variants depending on lifestyle, income, and goals. Here's what each means and how to choose.
Living on under $40,000/year (roughly $3,300/month). FIRE number typically under $1,000,000. Requires genuine frugality — often involves geographic arbitrage (retiring in low cost-of-living countries), minimal housing costs, and intentional minimalism. Popular among people who prioritise freedom over lifestyle.
Retiring on $80,000–$150,000/year or more. FIRE number $2M–$4M+. No significant lifestyle sacrifices. You can travel business class, eat out regularly, and maintain the standard of living you worked hard for. Requires either a high income, a very long accumulation phase, or both.
A middle path: accumulating a portfolio that almost covers expenses, then working part-time or in a low-stress job to cover the gap. The name comes from taking a coffee shop job (with healthcare benefits in the US) after leaving a demanding career. Work becomes a social outlet rather than a financial necessity.
The portfolio size at which you can stop contributing and compound growth alone will deliver full retirement by conventional retirement age. Once you hit Coast FIRE, you only need to earn enough to cover current expenses. Calculate your Coast number →
Be honest about what you actually want in retirement. Many people assume lean FIRE, then find that budget constraints in retirement are miserable. Fat FIRE is better but requires more time. Barista FIRE is often the most practical — it decouples income from obligation without requiring a massive portfolio.