“An interesting development over the last several years has been the Financial Independence/Retire Early (FIRE) movement. Since financial independence is a formula, those seeking FIRE often focus on both sides of the equation, being the reduction of living expenses and increasing passive income and investments.
Many on the FIRE path will go to such heroic efforts to minimize expenses that they can achieve the definition of FIRE with comparably very little saved, sometimes referred to as lean FIRE. Being frugal and living simply is impressive and admirable. As a community, though, we need to ensure we are all on the same page. As such, I propose we modify the definition of FIRE …”