While Financial Independence Retire Early (FIRE), works for some, it has major flaws that make it less ideal for most people (Cons of FIRE).
The key to semi-retirment is to have a part-time job, which satisfies the following conditions:
- It covers your basic needs for the month.
- It is something you love.
- It gives you time affluence and flexibility.
- Lucrative enough to afford you a 20–40% savings rate.
Once you have this, you can then use the bulk of your monthly earnings (60–80%) for your different priorities like supporting your dependents and giving to charity, while still having enough for the good things in life like traveling, occassionally splurging, or eating out.
The most attractive quality of semi-retirement is that it balances living now with living in the future.
References
Chrissy. (2020, July 21). The FIRE Alternative You May Not Have Considered: Semi-Retirement | Eat Sleep Breathe FI. https://eatsleepbreathefi.com/the-fire-alternative-semi-retirement/