The FIRE movement offers different strategies for early retirement. Lean FIRE involves retiring on a modest income of around $40,000 with aggressive saving. Fat FIRE allows for a more luxurious lifestyle, but requires a higher target savings of $3.3 million or more. Barista FIRE combines early retirement with part-time work for extra income. Coast FIRE involves saving quickly and allowing investments to grow until a typical retirement age. Finding the right FIRE approach is crucial for a comfortable retirement, but it’s not for everyone. Consider saving at least 15% of your income for retirement as an alternative.

Read more at Nasdaq: 4 Types of FIRE: Which One Is Right for You?