I am almost FI, pretty sure I will be by year end. The meaning of FI being comfortable, not minimalist, but not extravagent either. That said, at 1.2 mil a year, I could save half a mil a year or more, and would therefore probably stay two more years for that extra 40k a year, which would be a very nice cushion, and would provide for the occasional extravagance. That said, I know there are a lot of people out there who are FIREd with only $1m or less, or 40k income from pension and investment income. For the lifestyle we have led for a decade or so, we need much more than that and since I am mid 40s, I could stomach another 24 months so long as it wasn't affecting my health. (I am finding however, that my current job, that pays much less than 100k a month, IS negatively affecting my health).
R