The Financial Independence, Retire Early movement dates back to the early 1990s. How has it evolved and how are some followers creating new FIRE rules? NextAdvisor senior editor Nick Wolny joins to give us the full download of this popular personal finance trend, including how to calculate your FIRE number, why some people in the movement don’t want to retire early…and what the heck is Barista FIRE?

More about Nick: He is senior editor of the financial independence vertical at NextAdvisor, in partnership with TIME. He manages and publishes content that empowers readers to design their futures, implement entrepreneurial personal finance strategies, and live better, more intentional lives. He also writes NextIdea, NextAdvisor’s weekly newsletter on all things FI.

A self-employed marketing consultant of six years, Nick has previously contributed to Fast Company, Business Insider, FORTUNE, OUT Magazine, Entrepreneur Magazine, CBS, NBC, FOX, and USA Today, and was named a “40 under 40” by the Houston Business Journal in 2021. He holds a Master’s degree in classical French Horn from Rice University, and is currently pursuing a certificate in journalism from UCLA.