This was a great video. I now have a new goal. “Coast Fire”
@MarriageKidsandMoney2 жыл бұрын
Awesome!
@wildfoodietours4 ай бұрын
The Coast FIRE videos are super motivating! It's an amazing feeling to have the world at your fingertips.
@MarriageKidsandMoney4 ай бұрын
I'm so glad to hear that!
@joaom.494410 ай бұрын
Cost of living in countryside USA is very very cheap... Well, actually thinking throughly, in countryside Brazil over here too.
@site_is_down2 жыл бұрын
This is really worthy to watch as a lot of people may have been wondering how much will they have to invest before they can settle and retire.
@MarriageKidsandMoney2 жыл бұрын
Thank you!
@KateWilliam75 Жыл бұрын
This is the best, easiest explanation I've ever seen on how to estimate one's retirement needs. Thank you! As an aside, my hubby and I retired in our early 50's in part by paying our first house off in 10 years and not having a mortgage since then despite moving several times. Absolutely no regrets about being mortgage-free! We then took the money we would have put on our mortgage (and interest!) and invested it and now we are comfortably retired!!
@MarriageKidsandMoney Жыл бұрын
What an incredible win for you and your hubby! I love hearing this!
@pnvst66482 жыл бұрын
Thanks Andy, this definitely puts things in perspective. Coast F.I.R.E is probably something I should be aiming for too, as this will allow us to enjoy life even more today. I didn't realize it, but once you're "up there", your investment keeps feeding itself and grows faster than one's annual expenses.
@MarriageKidsandMoney2 жыл бұрын
It’s fun to do those calculations! Time and compound interest is the magic recipe
@victorl62242 жыл бұрын
Solid, simple and sound advice.
@MarriageKidsandMoney2 жыл бұрын
Thank you so much!
@kunalpatel83392 жыл бұрын
You are so great man thank you for sharing third tips and helping us!! So great to listen too and so reasonable, one of my new favorites
@MarriageKidsandMoney2 жыл бұрын
Glad you enjoyed the video!
@carolannstevens5814 Жыл бұрын
I wish I did Coast FIRE! I am young 60’s. No debt.
@MarriageKidsandMoney Жыл бұрын
The debt free life is a great one! You should be proud Carol Ann!
@thuibr2 күн бұрын
Thanks
@MarriageKidsandMoneyКүн бұрын
I appreciate you watching!
@justinc82932 жыл бұрын
Super useful topic. Thanks for the continual uploads
@MarriageKidsandMoney2 жыл бұрын
Absolutely! I’ll keep them coming :)
@leadavis38155 ай бұрын
Great video
@MarriageKidsandMoney5 ай бұрын
So glad you enjoyed it!
@johnanastasio86472 жыл бұрын
Great video. Curious to hear from some listeners if having a mortgage or not changes the “coast fire” journey
@TheTaytay1982 жыл бұрын
I would argue it’s necessary to pay if off. 1. Frees up cash flow reducing expenses. 2. Allows you to save more 3. It may allow you to change your job to a hobby earning less 4. Gives you peace of mind which is priceless I recently paid mine off at 45 and these are my takeaways.
@johnanastasio86472 жыл бұрын
@@TheTaytay198 I’m 43….turning 44 in a few weeks and I have been seriously battling this next phase. I have enough saved in stocks to sell off and pay it off. But the risk of losing the future gains is what’s holding me back….
@TheTaytay1982 жыл бұрын
@@johnanastasio8647 technically there is no right or wrong answer rather what you are comfortable doing. Paying off mortgage is a safe guarantee but there are no guarantees in the market. I’m a super aggressive investor too however I lost my job this year which is why I paid it off. My wife has a strong income and we still save a lot so it just worked out but not having a mortgage makes it so much better. Trust me, I struggled with the decision as well.
@johnanastasio86472 жыл бұрын
@@TheTaytay198 appreciate your insight! I definitely have been thinking and praying about this one…feel like it’s a decision that can’t be taken lightly.
@TheTaytay1982 жыл бұрын
@@johnanastasio8647 just curious what you owe. If it’s less than 100k and your cashing out NQ money do it. Don’t touch qualified money and make sure to have at least 6 mo emergency fund still available. I disagree with the 3 month emergency fund cause it’s too lite in my opinion. Best of luck to you.
@susanlewis19532 жыл бұрын
I would sink £500k into the stock market; £300k in real estate and the rest for new business and emergency fund. Good luck 😀👍
@MarriageKidsandMoney2 жыл бұрын
Good plan Susan!
@robinhensley62282 жыл бұрын
My dad spent $27000 a month in his last months of life for private nursing care. Something to think about.
@MarriageKidsandMoney2 жыл бұрын
Thank you for sharing Robin. Those are real costs and real concerns when it comes to our later years in life.
@coremoneycoaching35542 жыл бұрын
Yes Robin. Did you know that by the time someone reaches 65, they have close to a 70% chance of needing some type of care when they get older? I believe in the modern long term care planning.
@MyLifeThai371 Жыл бұрын
@@coremoneycoaching3554 Yep. My grandparents made sure that they were paying nursing home insurance premiums.
@jamesp99982 жыл бұрын
Another great video
@MarriageKidsandMoney2 жыл бұрын
Thank you James!
@TheGreatAgnostic4 ай бұрын
Love it!
@MarriageKidsandMoney4 ай бұрын
Thanks for watching!
@noveltyrobot2 жыл бұрын
For the algorithm
@muffemod Жыл бұрын
>want to retire >keep working pick one
@MyLifeThai371 Жыл бұрын
The rule of thumb is that your money will go up 5 times in value in 23 years. That means this guy will only have $1,875,000 at age 60. He needs to keep contributing.
@MarriageKidsandMoney Жыл бұрын
That’s a new rule of thumb that I haven’t heard before. Is it like the Rule of 72?
@marinekappa82 Жыл бұрын
What's your source on this rule of thumb? I've never heard of it before. Definitely not what I see in practice.
@MyLifeThai371 Жыл бұрын
@@marinekappa82 It's from my family member's experiences over the years. With the 401ks and the real estate purchases. 2017 was a great year for my family members to retire from those investments.
@marinekappa82 Жыл бұрын
@@MyLifeThai371 Thanks for the reply. So this is a family experience. Safe to say that it's not a rule though.
@SurpriseMeJT6 ай бұрын
It all depends on how much you need to live. Also, did you factor in dividends distributed quarterly which are reinvested? He has more than enough to retire early if the market is ok when he reaches his target date.