Coast FIRE: An Easier Way to Join the FIRE Movement

There’s a growing subset of the FIRE Movement called Coast FIRE.
Some people fall head over heels with the FIRE movement once they find it. However, other people find it overwhelming. It can be intimidating to hear people’s stories of reaching millionaire or even multi-millionaire status in their 30s, allowing them to leave the traditional workforce.
That’s where Coast FIRE comes in.
CHAPTERS
0:00 - Intro: Coast FIRE
1:02 - What is Coast FIRE?
2:37 - Retirement Planning
3:30 - Young Investors
4:54 - Am I Coast FIRE?
8:39 - Tax Advantaged Accounts
11:11 - Real Estate Investing
12:06 - What Do You Think?
12:22 - Other Videos You Might Like
#CoastFIRE #FIREMovement #RetirementPlanning #SaveMoney #Investingtips #PersonalFinance
INVESTING RESOURCES
Lively (HSA): www.marriagekidsandmoney.com/... (affiliate link)
Roofstock (Real Estate Investing): HTTPs://www.marriagekidsandmoney.com/... (affiliate link)
BLOGGER RESOURCES
Financial Samurai: www.financialsamurai.com/
The Fioneers: thefioneers.com/
Stop Ironing Shirts: stopironingshirts.com/
Four Pillar Freedom: fourpillarfreedom.com/
COAST FIRE CALCULATOR RESOURCES:
Compound Interest Calculator: www.investor.gov/financial-to...
The Fioneers FI Milestones Template: thefioneers.com/design-your-l...
Four Pillar Freedom (What is Coast FIRE?): fourpillarfreedom.com/what-is...
MKM RESOURCES
Blog: www.marriagekidsandmoney.com
Podcast: www.marriagekidsandmoney.com/...
Facebook Group: www.marriagekidsandmoney.com/...
Coaching: www.marriagekidsandmoney.com/...
____
OTHER VIDEOS TO WATCH
How to Create Your Financial Independence Plan: • How to Create Your Fin...
Why I Stopped Pursuing FIRE for a Happier Life Today (w/ Lisa Harrison): • Why I Stopped Pursuing...
JL Collins: How to Achieve Financial Independence with Index Funds: • JL Collins: Achieve F...
MARRIAGE KIDS AND MONEY:
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Subscribe to my KZbin channel today to strengthen your family tree and live financially free!
DISCLAIMER
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Information shared on this channel is for entertainment purposes only and should not be considered as professional advice. Be sure to seek professional advice for your specific situation.
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[@MarriageKidsandMoney]

What do you think of Coast FIRE?

[@andrewbullard8451]

Love the concept. FIRE is all about thinking outside of the box. Stress kills people.

[@MarriageKidsandMoney]

@@andrewbullard8451 Yes, taking control of your life through financial empowerment.

[@travis1240]

I love the idea of becoming financially independent, then coasting instead of flat out retiring. If you look at people who claim to have achieved FIRE, most are really Coast Fire.

[@Eonwe]

Jesus. Just hold bitcoin, man.

[@thejourneytofi2621]

Staring at a FIRE number can be completely overwhelming. Coast FIRE is an amazing goalpost to shoot for to stay motivated!

[@MarriageKidsandMoney]

Couldn’t agree more!

[@carolannstevens5814]

Great job Andy! I love the Coast FIRE! Wish I started younger. I am early 60’s. No debt no mortgage. Just starting investing. House is about $850k only about $150 investments… high income including pension. Have emergency fund.

[@MarriageKidsandMoney]

Will your pension cover your comfortable living expenses in retirement? If so, you're is a great spot!

[@anthonycaldwell7715]

Love the idea of buying our time back. Me and my wife will be able to work less hours in jobs we love and won’t stress as much. And best of all spend more time with the daughter and doing things we love. Coast fire seems like something we can more easily reach for, but maybe in the future we will change our mind and keep working towards standard fire. Taking it one step at a time.

[@MarriageKidsandMoney]

You said it right Anthony! One step at a time AND giving yourself options. Thanks for watching!

[@BeerBikes]

I like this concept, coast/barista fire. On it now for the past couple years and focusing on mortgage payoff in a brokerage account. Great video Andy. 🤙

[@MarriageKidsandMoney]

Thank you!! I like your idea of the mortgage payoff in the brokerage account - gives you options!

[@annjean4369]

Great video! Thank you for sharing.

[@MarriageKidsandMoney]

Glad you enjoyed it!

[@ldbdawg]

Love your channel and your podcast!

[@MarriageKidsandMoney]

Thank you for your support AJ!

[@screech57245]

Andy, thanks for breaking this down! Made us take a second look at retirement investing and we realized we could actually stop making Roth IRA contributions and divert those funds to increasing charitable giving, 529s, and brokerage accounts while still having more than enough for retirement! More options for now while still ensuring a stable future. Thanks again!

[@MarriageKidsandMoney]

Wow! That's a big realization! I'm glad the video helped you have that conversation together. We're all about planning for tomorrow (but enjoying today as well). That's why Coast FIRE rocks!

[@vc3815]

May I ask if you stopped making Roth contributions because you had already reached CoastFI? I’m trying to figure out if this method works well with retirement accounts like a Roth 457 b that are invested in a target date fund? Or is this usually more effective when using a stock portfolio?

[@Markd315]

Hit this number ($200k) today at 24 (full age 59.5). Nice milestone. I'm not done yet though.

[@MarriageKidsandMoney]

That’s incredible! Super investing power 💪 When did you start?

[@Kalarandir]

As a non American, the biggest turn off of FIRE is the crazy high numbers used in calculations. $70000 expenses........WOW. I have mine at less than £6000.

[@MarriageKidsandMoney]

If you're able to control your expenses and live comfortably, you're winning that FIRE game for sure!

[@OrganicFreedom]

Great breakdowns! The compound interest calculator is a good guideline but not guaranteed because it’s based on estimated interests in the future. There is a lot of uncertainty in the future. Especially the FIRE movement is so widespread now, and I wonder who is gonna left to work ?😂 like everyone is quitting job in 30s and 40s 😂 and stocks growth would stagnate?! I hope not😅 Im in FIRE too. I like learning from other FIRE people like you🙌Subbed 🙋🏻‍♀️💕

[@MarriageKidsandMoney]

I appreciate the sub! Thank you 🙏 You are correct and it’s a good point. Nothing is guaranteed when it comes to investing. I like the concept of Coast FIRE because it allows me to focus on other important goals besides my 60+ retirement.

[@misterallen5540]

Help me out: Which one is correct? Coasting FIRE or FIRE coasting? Heard both phrases in the past but didn’t pay attention to it. I thought there’s only one FIRE, now i learned there are subsets. Now, I just realized I’ve been “coasting FIRE”. I Did the calculation and now I have enough money in my retirement to be able to retire comfortably in 8 years. I want to retire at 60 but I think I can lower that to 58. Thanks for sharing this video

[@MarriageKidsandMoney]

This is a great question! I like to think of achieving "Coast FIRE" as the point where you have invested enough for your future retirement needs based on compound interest and your time horizon to retire. For example, let's say I have $500,000 invested at 40 years old. Based on time and compound interest (and a conservative 7% interest rate), I may expect to have around $1.9 million by the time I retire at 60. This is without adding any more contributions to my retirement accounts after 40. Using the 4% withdrawal rule, I could expect to be able to live on $76,000 in retirement. If you want to be more conservative (as it can never hurt), look at a 5% or 6% interest rate instead of 7%. And you could do a 3.5% withdrawal rate if you'd like. I hope that helps!

[@flo3467]

Just remember to adjust you fire amount for inflation, because the 1.75m stack in 20 years at a withdrawal rate of 4% annually won't get you the same purchasing power as 1.75m today. In the compound interest calculator you can reduce the interest rate by expected average inflation to reflect that. So your 5% calculation should be quite accurate when taking inflation into account.

[@MarriageKidsandMoney]

Excellent point to clarify!

[@jennyogg4591]

Average return is 10%, average inflation is 3%. 10-3 is 7, which is why 7 is most commonly used. One can always save more or be more conservative but being too conservative discourages people into thinking they'll never save enough.

[@zachnunya8749]

Coast fire is the way.

[@MarriageKidsandMoney]

The truth right there Zach! It gives me permission to enjoy more today.

[@AA-yt9ch]

There is purpose in working. Coast fi gives you the option for a solid retirement while being able to downgrade and do something lite and enjoyable

[@MarriageKidsandMoney]

I agree. Working is fun (when you enjoy what you're doing)

[@BigRed2]

No people have been brainwashed to think you need to work

[@JohnHobitakis]

I'm coast firing!!

[@MarriageKidsandMoney]

Yeah buddy! Go get it 👍

[@thenewfire]

Good advice but the order to invest is wrong. Hsa first. Invest it. Don't use it. 401k match comes 2nd. Roth ira is third. 4th comes maxing the 401k. 5th is mega back door Roth. The triple tax advantages of the HSA and the importance of medical expenses in early retirement ages make it even more powerful than the 4 or so percent company match that isn't triple tax advantaged. Really though HSA and company match should always be givens to ALWAYS max. Definitely before the Roth IRA. The hsa is simply a superior account.

[@MarriageKidsandMoney]

We love the HSA! It’s a fantastic tool to build wealth and minimize taxes.