Why I Love Coast F.I.R.E. (Coasting Financial Independence)

Imagine you could start spending 90% of your post-tax income, and not be making an irresponsible decision? In this video, I'll show you how you can calculate exactly how much money you'll need to have saved at a given age such that you can be confident that when you eventually do retire, you can still have the lifestyle you always dreamed of.

Coast FIRE is my new favorite form of FIRE - financial independence retire early.

0:00 Intro
0:38 What Is Coast Fire?
1:47 What It Means To Hit Coast Fire
2:38 How To Calculate Your Numbers
5:50 The Difference Between Coast and FIRE

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[wildfoodietours]

CoastFIRE is a game changer and much more attainable than regular FIRE.

[ethkaz]

Already know I’ll revisit this one a few years from now

[justinyang]

That’s such an amazing concept! I’ve always seen people saying save, save, save. But this seems a lot more manageable and enjoyable than that! Thanks for sharing Joel :)

[SeekingVirtueA]

Our goal is to hit CoastFIRE in five years (~$750, 000) in our mid thirties. We have a very good income but stressful work for my wife. Ideally we will scale back then and ideally only hit our TFSA contributions each year (equivalent to the Roth IRA). LOVE the idea of CoastFIRE!

[Azel]

A couple of years ago I realized that I have enough saved that I can reach my retirement target even if I don't contribute another dollar towards investments. I did not know this had a name and that so many others are doing it too!

[livingunashamed]

Yep Coast fire is awesome, easiest fire and the best. Some people might only need 500k to retire on while others might need 5 million. Everyone has their number. Its all about not "having" to work again. Also most people will continue to invest a little its just too addictive but its so much more freeing knowing at the end of day your retirement is secure. Compound interest is truly something special.

[minalinimittal]

Loved your videos . Thank you for so much for the videos. I learned way more in past 2 days binge watching your channel than I learned from my dentist husband practicing in northern Ontario for 3 years. Thanks for being so candid and so open in your conversations. Being a personal finance nerd myself with soon to be licenced dentist in Canada - I truely appreciate the knowledge you shared .

[rodinjones]

Wonderful video, you explain these concepts well!

[RusselGiti]

Would love to see a video on what specifically we could invest in that has compound interest. E.g. If we are saving 3k a month, where can we put it? What options are out there and what are the pros/cons of each.
Keep it up!!

[AFulfilledLife]

Such an awesome explanation around this - not many people talk about coast fire, thanks Joel!!

[samuelkrichavets]

Always a great video, thankyou Joel! I continue to learn so much from you!

[bruhhmomentumm]

Once again, another excellent and informative video! Can you put a link to that coast fire calculator in the description?

[toniwonkanobi]

Love this idea. Love this channel. Makes me happy to be a dentist. Joel needs to do a video on leaving Delta Dental.

[desmondding]

The thing I find troublesome with these fire plans is that they all seem to assume that the American stock market will continue to grow indefinitely long term, which if you think about it, might be too good to be true. Even if you use the past data for a hundred year, the future century may very well be very different from the previous one. I would lower that expected investment gain a lot more to like a 5 to 7% to be on the safe side.

[educatedwanderer]

Coast Fire is a helpful strategy but keep in mind its back of the napkin planning. I use much more conservative rates and numbers to make sure I am successful in reaching my goals. I will reach the coast FIRE goal then continue to save at least 15% so I will reach my goal and still have more to spend along the way than I would saving 20% or more.

[tsurumonetally]

This is an awesome concept that I hadn't thought about before. Can you tell us more about how/where in the stock market you are investing to have safe returns of 10.5%? (Mutual funds or ETFs or real estate ect...) I do have exprence investing in the stock market and can say it can be quite risky at times. For the coast FIRE method I think it's even more important to invest in safe opertunities because we are relying on future returns to contribute to our FIRE numbers compared to already having the total FIRE number saved before hand.

[sarayu]

Hello thank you so much for the info can you make a video about public health dentist advantages and disadvantages

[karanshah]

Is the monthly contribution expected to be every year until retirement age or until COAST FI/RE age? Thanks for introducing this concept

[JR-hhjs]

Were you in the gifted program in school ?

[samithreddy]

Hey Joel, I love your videos. I also had a doubt. Are you supposed to invest he cash that you put aside into mutual funds or something? And what do you mean by Current Invested Assets in the Calculator?