The traditional FIRE movement, short for Financial Independence, Retire Early, has long been associated with extreme saving, aggressive investing and retiring decades before the typical retirement age.
But a growing number of younger investors are turning to a more flexible version known as Coast FIRE.
According to Business Insider, Coast FIRE allows people to save and invest enough early in life so their portfolio can compound over time and eventually fund retirement, even without large future contributions.
Unlike traditional FIRE, Coast FIRE does not mean quitting work completely.
Instead, after reaching a "Coast FIRE number," investors may only need to earn enough to cover current living expenses while their investments continue growing in the background.
