FIRE is financial independence, retire early. A lot of people would like to phrase it as financial independence, retire eventually.
There is more than one way to FIRE. – Fat FIRE – Lean FIRE – Barista FIRE – Coast FIRE -- Regular FIRE
To work on achieving Barista FIRE, you first need to have some good financial goals to help guide your way. Let’s set those up and work towards hitting Barista FIRE.
This can be done easily by taking your annual expenses and multiplying that by 25. If you spend $40,000 x 25 = $1,000,000. .
2. Figure out Side Hustle Income
Side hustles are just part time jobs on the side. These side hustles will help you supplement your income as you are no longer working for your regular job.