Living-cost factor in FIRE
RetirementYour current living costs (rent, groceries, insurance …) serve as the basis for FIRE planning. With this factor you adjust whether you will live more cheaply or more expensively once you are financially free.
Many FIRE aspirants find that their fixed costs drop after leaving working life – because everything tied to the job falls away.
Why living costs can drop:Moving to the countryside (location-independent without an employer), lower mobility costs (no commuting, possibly no second car), no business clothing, cheaper meals (more time to cook instead of the canteen).
Why living costs can rise:Higher heating costs (more time at home), moving to a more expensive region.