Just A Few More Types of FI… Or Maybe A Lot More
Back to The Beginning – The Original “FILESTONES” Let’s start with the basics. There were only a few types of FI or milestones when I first started my journey. FatFI (or FatFIRE) and LeanFI or (LeanFIRE). LeanFI, as I first learned (contrary to the new popular definition of roughly $40k per year spend or less), was when your expenses were covered by investments and/or other passive income. On the other end, FatFI was 30 times your expenses (rather than $100K or more per year spending). I first heard these terms from FI180. Why All These Different Types of FI? Before we get into what are the different types, we need to know the why. Know The Why of FI, before introducing others to the pillars or “levers” of FI. We have to help them find their “why.” Everyone’s Why of FI is what leads to a million different types of…