The concept of FIREFinancial Independence, Retire Early is pretty straightforward.
But like all pursuits, there are those that take the basics to the extreme.
Or think of the couple who builds their own tiny house in a relatives driveway to avoid housing costs.
Those extremists may get attention because theyre going the extra mile to achieve their goal.
We all love a success story, right?
But success with FIRE doesnt have to require extreme measures, according to some in the community.
That savings rate might feel impossible for you.
And its like, O.K., but what about the other things that life sometimes requires?
Wheres the budget for taking care of your mother-in-law?
Saunders acknowledges that theres not a single perfect formula for financial success.
Nor do you better achieve a completely frugal lifestyle to get to succeed.
Heres Saunders in the Times again:
Theres a cost to maintaining this Afro, she adds.
Theres a cost to taking care of my skin.
Theres leanFIRE: Thats the one where you live as frugally as possible.
FatFIRE is for those who dont want to give up their lifestyle while they save.
AndsemiFIREhelps you plan to semi-retire early and work part-time.
Those varieties each refer to the lifestyle youre targeting for your early retirement.
Take Fritz Gilbert ofThe Retirement Manifestoblog for example.
It could mean negotiating your cell phone bill, or thinking about an additional part-time job you might enjoy.
One percent additional savings here and there can go a long way over time.
