She started alongside her three older sisters and still has a few years to go as she works toward her pension. She moved to Yonkers, a city north of New York City where the cost of living is much lower, and she’s kept her daily spending low. She found a townhouse through the Neighborhood Assistance Corporation of America, which had no down payment or closing costs and a 1.625% mortgage rate.

By 55, she anticipates having enough between her pension and retirement accounts to retire. But fully leaving the world of work is not in the cards, she said. She’s already working toward monetizing her passions with a tutoring small business. When she retires from her current role, she plans to turn her efforts toward raising awareness of dyslexia across the US and empowering other Black women to achieve their financial goals.

“When I first started listening to podcasts, I got really excited about potentially retiring early. I was like, I could potentially build up my business, and I started really calculating numbers trying to figure that out,” October said. “Then, I realized I can actually have a really good lifestyle while I’m working without feeling like I’m kind of killing myself.”

October is one of many millennials who are working toward achieving financial independence, one of the main goals of the FIRE — financial independence, retire early — community. The traditional FIRE movement, which dates back to the 1990s, stressed working hard and building a large nest egg through various income streams to stop working years, or even decades, before 64.

Some millennials who successfully achieved financial independence told BI that a traditional retirement is overrated. They’re instead embracing working in lower-stress positions, creating podcasts, caring for young kids, and following their passions.

“The thing I have noticed shift most is the emphasis on FI and less on RE,” Scott Rieckens, the executive producer of the film “Playing With FIRE,” previously told BI. “I think it’s awesome to see, as it signals that financial independence is the key motive, which it is, and that work and purpose are actually really important. Retiring early to nothing is a bad idea.”

This philosophy has motivated five millennials who told BI that getting to “FI,” not “RE,” is the more important part of the equation. All said their hard work to reach financial independence will not suddenly stop, nor will a retirement on a beach or a cabin in the woods bring them joy. Instead, they hope to give back to their communities while striving to build their careers further.

Striving for financial independence

Millennials who haven’t quite achieved FI yet are experimenting with a more balanced approach and aren’t setting strict timeline goals.

Oz Chen, a designer for a financial technology company living in Los Angeles, tested out living as a digital nomad for two years after getting laid off from a job in his mid-20s. However, the 35-year-old realized he wanted more consistency and a stronger social network, leading him to shift his goals from retiring early to accomplishing career milestones, even with $1.5 million in investments.

He’s enjoyed being in a work-optional position, allowing him to set healthier boundaries, though he still hasn’t reached many of his life goals. He continues to put aside money for experiences over material things — other than coffee — but he intends to keep working on bettering himself and those around him.

“The whole time I’ve been thinking in terms of my financial independence as what I call single-player mode. I’m not married yet and don’t have kids, so I was thinking, well, I might need more money for that,” Chen said.

Gabriela Ariza, 31, also has plenty of life goals she wants to hit, and she already knows she’s not going to retire anytime soon. She sees financial independence as an extension of her drive to fulfill passion projects. The Illinois resident, who is moving from Chicago to the smaller city of Rockford, said she’s on track to reach financial independence before 40 but has no desire to stop working in cybersecurity and real estate.

She plans to build new affordable homes using her years of experience in real estate investing, as well as expand technology and education in Haiti as part of her nonprofit The HaITian Common Space. Her husband hopes to leave his 9-to-5 job to be a full-time business owner.

“I’ve seen a lot of people sacrifice their health, and that’s something that I never, ever want to do if I’m trying to achieve financial independence,” Ariza said.

Even with no desire to stop working entirely, the prospect of pursuing lower-stress work is itself a benefit — but takes effort to unlearn the constant drive for financial success.

David and Jill Pawley, 36 and 34, are set to retire in seven years, though both care more about following their passions. The couple, with a net worth of $820,000, still saves 55-65% of their annual income as municipal government employees in Michigan. They said their area’s low cost of living and their frugal upbringings have given them financial stability, even with the costs of raising two kids.

“When I go back 12 months, our savings rate is 64%, and since we don’t want to retire, that seems too high,” David said. “We are trying to back that number down and finding a way to spend the difference because our goal is not to die with $10 million.”

Because both of them feel they’ll keep working until they get little satisfaction from work, they’ve questioned whether their high savings are worth it. They implemented a rule in which they can’t base their choices at, for example, a restaurant, off of price. It’s allowed them to follow what they actually want, which has changed their parenting styles.

“Last month, I told Jill she had to spend $300 by the end of the month, and I swear she was sweating,” David added.

Are you part of the FIRE movement or living by some of its principles? Reach out this reporter at nsheidlower@businessinsider.com.