Not everyone needs $2 million to retire early, and not everyone can live on $30,000 a year.

That's why the fire movement has evolved into multiple paths.

Today, we're exploring every type of fire, from traditional to coast to lean to fat,

and helping you discover which one fits your personality, your needs, and your sanity.

Hello, hello, hello, and welcome to the Bigger Pockets Money podcast. My name is Mindy Jensen,

and with me as always is my fired up co-host, Scott Trench. Thanks, Mindy. Great to be here, as always, and to blaze into new opportunities for financial independence.

We have put together a visual breakdown of all of the fire types that we're going to cover today.

So I'm going to share my screen, and let's go ahead and jump right in.

Okay, Scott, how many types of fire are we going to be talking about today?

We're going to be talking about six.

There's no official beginning or end to the types of fire, and a new acronym is invented by the hour in the fire community.

But we'll talk about the six most common of these types here today.

So do you want to kick things off, Mindy, with the first one?

Yep.

Up first, we have traditional fire. This is the kind of numbers that we originally started talking about in the Phi community 10, 15 years ago, one to $2.5 million in net worth, which implies a middle class lifestyle. We are spending between

$40,000 and $120,000 a year in retirement. The timeline for this is between seven and 20 years

for somebody who's earning a good upper middle class income. The biggest

lever that you have to pull for your traditional fire journey is your savings rate. We talked

last week with Mr. Money Mustache about his shockingly simple math to early retirement. And the

savings rate, the more you can save of your income, the faster you

will get to traditional fire. The pros of this are pretty easy. You can get to a comfortable

and traditional retirement in a fairly short amount of time. It's seven to 20 years,

...