The evolving FIRE movement, and how to achieve financial independence

Business Insider spoke with dozens of people pursuing financial independence and found many seek freedom rather than a life of permanent leisure. The FIRE movement, popularized by Your Money or Your Life and blogs like Mr. Money Mustache, has splintered into versions such as Coast FIRE and Barista FIRE, and some practitioners prefer being "work optional" or taking "mini-retirements" instead of leaving the workforce entirely.

Most people begin with the same basic math: estimate retirement spending, then use calculators and rules of thumb to determine an "enough" number. Many rely on the 4% rule while others use more conservative assumptions. Dexter Zhuang used a WalletBurst calculator assuming a 7% annual return, 3% inflation, and a 4% withdrawal rate to reach Coast FIRE, and Andre Nader uses a 3% withdrawal rate while also factoring in costs such as healthcare and college savings.

Plans often change as life happens.

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