It's called CoastFI if you save a bunch and then cut back to only making about what you need to live and letting the Stache grow in the meantime.
Ah, good to know! I've also seen semi-FIRE and barista-FIRE thrown around. I guess I don't know the differences between these terms.
There is no real difference.
I just don't use the term Barista fire because my part time work is as far from working in a coffee shop as possible, and I find that it implies menial work as opposed to casual professional work.
SemiFIRE fits as well, but for some reason makes me think of shorter timelines, when some people might actually coast longer than they ever worked full time.
For me, once I realized that left alone, the Stache can do most of the heavy lifting itself in terms of growth, I found that coasting not only drastically reduced the amount I needed to save, but also drastically reduced the number of years that I need my stache to last.
It also keeps me partially in the game a lot longer, which sustains my skills/network and makes re-entry into the workforce a lot easier if it ever comes to that.
It basically totally neutralizes every significant risk associated with FIRE and the only trade off is that I keep doing work that I enjoy.
In addition, because I've started working this way so early on, i have a lot of time available to generate and build the kind of opportunities that allow me to do this on my own terms.
I'm not going from being a good donkey to reinventing the wheel of work style in my industry. I have years of working this way, proving my value, and creating demand for the kind of work I want to do on my own terms.
I'm looking at a major career change right now, and I can do that because I've carefully cultivated exactly the kind of career I want. When anyone thinks of me for a contract, they know in advance that I'm only available part time and that I will demand flexibility. They're already okay with it by the time they contact me just to talk.
What you do today shapes what tomorrow looks like.