Coast FIRE with $400k by 30 Years Old

[@Azel247]

I did not know about Coast FIRE and I have been hustling and stressing about saving. When I finally discovered this concept and realized that I reached Coast FIRE, it was the most liberating feeling ever.

[@MarriageKidsandMoney]

You’ve done an incredible job creating your own pension 🤑 Time to relax more and enjoy!

[@ldbdawg]

Thank you for the time, Andy. I had a blast chatting with you! Love your podcast and the message of hope & inspiration you bring us weekly!

[@MarriageKidsandMoney]

Thank you for doubling down on that hope and inspiration by sharing your story!

[@kylemorgan7822]

Great content as always! It’s great to hear others on the FI journey.

[@MarriageKidsandMoney]

Glad you enjoyed it!!

[@zukunftsinvestition]

Very great channel, watched already a ton of your videos, love the podcasts also ✌️ Greetings from germany

[@MarriageKidsandMoney]

Thank you so much! If you have any topics you’d like to hear more on, please let me know!

[@keekee8760]

Great video, thank you for sharing.

[@MarriageKidsandMoney]

Of course!

[@yasinnabi]

Any business that can create value in the market will grow in any situation. a fellow creator

[@janefromthecountry1820]

Andy, what is the difference between tax advantage account, a 401k and a Roth IRA? Aren't they all tax shelters? How does one start a tax advantage account? Thank you. How much is Coast Fire? $400,000? AJ did 40 %, 50, and 60% he states.

[@MarriageKidsandMoney]

A 401k is an employer sponsored retirement plan. Roth IRA is a retirement plan outside of an employer situation (contributions are made after tax). Both of those retirement options have tax advantages that make saving for retirement a lot easier. A taxable brokerage account is an investment account not optimized for retirement but can be used for other goals. You can start investing with tax advantages today through a 401k, IRA and/or HSA. Coast FIRE is when you’ve saved enough in your tax advantaged retirement accounts where you have the option to stop (or slow down) your contributions and still achieve your retirement income goals. That amount is personal to how much money you’ll need in retirement. I hope that helps! I’d recommend watching more Coast FIRE videos on my channel- kzbin.info/www/bejne/j3jXfKewbtJ0Zqs

[@chasmitchell1160]

Impressive guy. Congrats

[@MarriageKidsandMoney]

Incredible growth and focus here!

[@christopherthompson5907]

What was the exact title of the book you referenced? Along the lines of “The Guy With Nothing”. Thank you.

[@MarriageKidsandMoney]

Are you referring to Die With Zero by Bill Perkins? kzbin.info/www/bejne/iIPKhGWMr7poqqM

[@christopherthompson5907]

@@MarriageKidsandMoney Thank you. I suspect that’s it.

[@kimmypee4813]

Hi pls what calculator are you using coast calculations

[@MarriageKidsandMoney]

We just created one! marriagekidsandmoney.com/calculators/coast-fire/

[@ItsMe-ko6sz]

Andy, Is his house paid off?

[@ldbdawg]

Hey there! No, our house is not paid off yet but we’re well on the way!

[@MarriageKidsandMoney]

Thanks for chiming in AJ!

[@pnc1358]

Your living expense will be double every 20 years with 3% inflation... just saying

[@MarriageKidsandMoney]

Yes, it's important to factor inflation into your Coast FIRE calculations!

[@pnc1358]

@@MarriageKidsandMoney You are absolutely right. Then again, if their expense is 60k-70k in 2024 when they are in early 30's, can they live with 100k when they are 60?

[@MarriageKidsandMoney]

@@pnc1358 I believe his 7% growth rate factors in inflation. 10% average stock market return - 3% average inflation = 7% growth rate If 10% feels too aggressive for you, I'd suggest lowering it to a more appropriate level.

[@pnc1358]

@@MarriageKidsandMoney makes sense, yet pretty risky. I hope things work out exactly like what they are expecting in th long run anyway

[@MarriageKidsandMoney]

@@pnc1358 You said it! Lots of assumptions of "what could happen" - definitely no guarantees.