Coasting Financial Independence Just Got EVEN BETTER

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Coasting Financial Independence Just Got EVEN BETTER:
Today, we examine why the lessons behind the idea of coasting financial independence might be even more beneficial in an environment of economic turbulence.

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[meddings]

As some one who's hit coast FI. Something to consider, you can't be the type of person who saves 40% to 50% of your take home, and then one day just stop saving. But decreasing the amount you save does feel like a very nice yearly raise.

[kevinhuff]

I started saving decades ago so I would have enough to live extravagantly. Funny thing happened when I paid off the mortgage. I no longer have an attraction to status symbols.

[AngusFowles]

not often you log on and a video is posted 1 minute ago in precisely what you were searching for!

[theglobalnurse]

I love Coast FI ! I have recently achieved my Coast FI number ( & still investing). And I am now working part-time & able to create my own schedule ... please make a video about what to do after reaching Coast FI :)

[wildfoodietours]

Always loved the idea of coasting financial independence. Here's to making FI happen regardless of the particular method used to get there.

[nateisright]

Not a big fan of retirement in the sense that there’s an end date to working, but it makes sense to aim at saving enough to become work optional. I guess the ultimate luxury is to choose one’s miseries, so we have de-risked our portfolio as we have gotten older. My default is to keep saving at maximum possible. When we want to travel or buy something we just do it. We don’t feel as if we’ve missed out on much by being disciplined, if anything, discipline has made us free.

[Bob-yhir]

We hit coast FI a couple years ago. Retiring mid to end of next year currently. Unless team or mgmt changes cause too much hassle then I will leave sooner. We will experience the retirement smile due to extensive longer term travel in early retirement. I was never a fan of the general rule of thumb concerning have 25X your expenses saved up/invested. That's a bit high at least for us. Depending on how much you will spend of course, if you are a high spender then it makes sense perhaps, but our investments and cash only need to carry us for 10 years. Once I turn on SS, all our household expenses will be covered. Once my wife turns on her SS and a small pension she will get, we really won't need to pull from the investment buckets even with healthy amounts of travel in there. Only for an emergency car replacement or house repair etc.. I think we are going to have a problem with having too much money growing in IRAs and will want to pull down on them some including eating into a bit of principle in our mid 60s before turning on the SS stream so that we do not leave a tax bomb for our daughter when we pass. Oh don't worry, we spend some money, but having everything paid for and very little expenses for managing the house and all means most our spend is discretionary and for entertainment. Cheers !

[hrhsophiathefirst]

I am currently in coast FI but that is not my goal, chubby FI is the plan and hoping to earn my largest salary for the next 9 years to achieve it! Thanks for these great videos!

[samsonsoturian]

Just FYI, the amount of money needed to live off the proceeds of investments is more than enough to start a business in your industry of choice. Ask yourself if you really want to retire, or do you want a job you consider to be fun.

[Jameswillams-ns]

I came across your channel through this video—case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.

[truthteller]

Dollar cost average for 8 years. Stop at the end of 2020 due to the Pandemic. Dividends reinvested continued. Now starting again in 2023. Should be coasting in a few years. Paid off my mortgage this year, so I was still destroying my debt. Looking into living in Central America. Retirement might be coming sooner than I thought. Lol.

[MurangShaBu_MahalNaBiGas]

Thank you for the upload, both my kids are under 4 y.o so if I coast now, by the time they are 8y.o i can spend more time them, I know teenage children are expensive. And sending them to college will be less stressful.

This concept is life changing.

[bryanparry]

Maybe I missed it but why did it just get even better? This just seemed to be the standard summary of coasting

[shrapmetal]

Problem with coast fi is i cant think of a different job i like that i am qualified for with acceptable pay. And my current job is stressful regardless of if i work full time or part time.

[mikesurel]

I would add home ownership as a caveat. If you plan on going into retirement owning your home, that takes a big chunk off your inflation adjusted expenses. No rent or mortgage can cut 300k or more off the size of your required nest egg. I think that is big enough to call out all on its own.

[kmot]

I like to think CoastFi is the most important. To know you can hit a normal retirement age and be okay later in life is a weight off your shoulders. All life events will only just speed it up or now you can have so much flexibility until then.

[PH-dmew]

So how do i use this if i am 60 and retired 90000 a year in expenditures including Taxes. Let's say I had 1, 250, 000 in a standard 60/40 portfolio and needed 40000 per year. to meet the 90000. Is there a way to calculate coasting FI in this case?

[Azel]

I didn't know that's what this is called! I kept trying to explain that I will be financially independent in the future thanks to compound interest, but I'm not able to stop working just yet.

One question, can I just use the inflation-adjusted SP500 returns as my estimated interest rate instead of using an inflation adjusted nest egg sum?

[mleet]

I have a well paying job, no debt beside mortgage, and I still feel like it wont get FI.

[anniealexander]

I think it's best to keep working right now. There will be a lot of money to be made in this recession.