Coast FIRE w/ $2 Million | Tae Kim (Financial Tortoise)

[@MarriageKidsandMoney]

Check out our free Coast FIRE Calculator here: marriagekidsandmoney.com/calculators/coast-fire/

[@TonyCox1351]

I respect any man that interviews with a squat rack in the background

[@MarriageKidsandMoney]

Life goals right there!

[@CAGChannel1]

And mega books next to it!

[@CmanCorporations]

That's a low key flex for sure!

[@briankrobinson]

Top tier comment. I’ve been laughing for six uninterrupted minutes lol.

[@Kumukarl]

Tae seems like a good dude and very level headed. I took similar steps (FPU/crushed debt/marriage) and then discovered coast FI. Love looking at life in stages, accepting that for most they are necessary, and excited to unlock the next level and with it experience even more freedom and options!

[@sarahuber8567]

Love to see millionaires like this who live a modest lifestyle while raising kids. Would love to hear more about this and not worrying about the Jonses.

[@brandonpartee8277]

Most do!

[@sp-tn9yt]

Tae seems like such a kind, humble person. I like his channel as well. I appreciate that he gives credit to the Ramsey method as one piece of his journey. Wishing him and his family the best

[@MarriageKidsandMoney]

He's an incredible individual. I just had the pleasure of hanging out with him this past weekend in Atlanta!

[@elainelaw402]

❤ Tae’s channel. He’s got a great voice and fantastic content

[@MarriageKidsandMoney]

Completely agree!

[@LashusJourney]

Great conversation. I did Dave Ramsey FPU back in 2013 and I was able to retire at 41. Slow and Steady win the race.

[@MarriageKidsandMoney]

That's incredible!

[@PeteCorp]

Tae is awesome.

[@MarriageKidsandMoney]

Agreed!

[@petenice75]

For those of you who aren’t listening, he said he has $2million in retirement savings right now. Not that his net worth is $2million. Which means his net worth is much higher than $2million. He plans to continue working another 20 years. He is doing very well for himself and his family.

[@MarriageKidsandMoney]

Absolutely. He's doing just fine!

[@lauralarisma]

I loved this video. Thank you!

[@MarriageKidsandMoney]

I'm so glad to hear this!

[@tylercampbell6058]

I clicked when I saw Tae on the thumbnail thinking it was a new Financial Tortoise video and then heard Andy. Tae on MKM! Thanks for helping me get through the dishes guys.

[@MarriageKidsandMoney]

We met at a conference a year ago and I'm so glad we could record an episode together. Tae is an inspiring man!

[@yoda6051]

Beautiful family! Thank you, Mr. Kim!

[@blackchickadee1]

Love Tae’s channel! Wonderful that you hosted him! I also screwed things up and repairing in my late 30s!

[@MarriageKidsandMoney]

We all make mistakes - it is chats like these that help us all learn and grow. Thank you for watching!

[@fsilveira01]

This is amazing! Im going through the same situation he was when he decided to opt for the change. This has been very insightful!

[@MarriageKidsandMoney]

@@fsilveira01 so glad to hear this! Best wishes with the next chapter in your journey

[@RosarioBillingsley]

I love Tae, his family and his relationship with his parents!!! His financial advice is awesome.

[@MarriageKidsandMoney]

He's an excellent example to us all!

[@loft27ss]

Started with Dave Ramsey as well ! Great book “ total money makeover”” - we are slowly becoming debt free!

[@MarriageKidsandMoney]

Best wishes on your debt free journey!

[@francescodesimone9882]

I swear, I see so many couples, including my wife and myself, where she is working in healthcare and he is working in finance!

[@Boss2000]

Middle age guys on KZbin give the best advise! Keep up the good work! I am a fan of Tate ❤

[@MarriageKidsandMoney]

Tae is helping us all win! Thanks for watching!

[@kaynenbrown5102]

Love Tate! Such a huge accomplishment. Especially when he did not really start taking things seriously until 30.

[@MarriageKidsandMoney]

Couldn't agree more!

[@ngoalpo]

Tae*

[@Philippinesbound42]

I have 2 million. Including home equity at 42. I’m thinking of retiring to se Asia now. I really don’t want to keep saving and working here in usa

[@carlyndolphin]

Put 3 years living expenses into high interest bank account and the rest into a global ETF. Withdraw 3% from your investment portfolio, adjusted for inflation and you could live a good life in Asia. Only dip into your cash reserves if there is a market crash.

[@AccordingtoWarren]

Such a great way to think! Definitely use the dollars advantage.

[@imveryhungry112]

I am in the Phillipines right now with 2 million you could live here for a very very long time even living a nice lifestyle

[@MrTofu13]

Do it! Congratulations!

[@imveryhungry112]

@Philippinesbound42 hope you do this and enjoy your hard work payoff

[@LoriLWorden]

Awesome dialogue of considerations of grinding it out towards traditional FIRE versus taking that sideways step to pursue a different Work-Life path.

[@MarriageKidsandMoney]

Thank you for watching and supporting both of our sideways steps as middle-aged KZbinrs!

[@Billybobthor]

Enjoyed the video. Liked it and subscribed.

[@MarriageKidsandMoney]

Thank you so much!

[@ca4130]

You have to visit South Tyrol and the Dolomites when you are in Europe! 👌🏻

[@seansenske2987]

Great interview!

[@MarriageKidsandMoney]

Thanks Sean! We'll have to have you back for a Coast FIRE interview in the future :)

[@seansenske2987]

@@MarriageKidsandMoney That’d be great, we got some big decisions coming up.

[@kwokweng76]

I ❤ your hairstyle

[@patrickeggs4447]

Great content 🎉

[@robienillosistoso628]

Aw, I can relate Tae’s wife is a RN ✨

[@jehncooper5879]

Wow I’m just started a bit small investing in my 35 huh, it’s late 😢Acorn and Robinhood

[@AccordingtoWarren]

Didn't know Tae was also in the military!

[@83zeus]

I am in a similar situation in age and wealth. Would love to step away from the W2. Looking for content on potential frameworks for healthcare planning. Suggestions?

[@MarriageKidsandMoney]

Absolutely! Here's a video on that: kzbin.info/www/bejne/b6jPh4mJqaubY6ssi=3qCjYxMWk0g95wIp

[@personalfinancecat]

This is the first time I’ve heard about Coast FIRE. What a great concept! I think this is what I have been looking for, and perhaps achieved already without knowing? 😂

[@MarriageKidsandMoney]

An incredible realization! You can check out our free Coast FIRE Calculator to learn more: kzbin.info/www/bejne/g3y0eWNomciSgcksi=ZV9TvN4vt2fns1cJ

[@jneumonik]

Great guest Tae Kim, I enjoy watching his channel. I’m behind but hopefully we can catch up.

[@MarriageKidsandMoney]

I'm glad you enjoyed watching our interview! There will always be someone with more money than us. If we take the steps that Tae discussed today, we can automate them and go back to enjoying life.

[@jneumonik]

@@MarriageKidsandMoney This is true, I keep hearing comparison is the thief of joy but at the same time it's good to compare against people doing well to use as motivation. Thanks again!

[@MarriageKidsandMoney]

@@jneumonik Great point! It's nice to see examples to get ideas of where you want to go.

[@TheNeighborhoodFinanceGuy]

Loving the intro segment with the numbers.

[@TheahLil]

yeah, me too, its great to hear it all spelled out like that

[@Billybobthor]

One of the reasons I’ve really lost interest in many of these financial shows (like 2 sides of FI for example). The hosts and guests are always beating around the bush, being avoidant talking about numbers. Like if you are coming on a public show about money then share the numbers to help the viewers understand.

[@MarriageKidsandMoney]

Thank you!

[@MarriageKidsandMoney]

​@@Billybobthor This is such helpful feedback. I really appreciate it. When my wife and I started out on our journey, it was the specific numbers that helped us a lot too.

[@emox6400]

20 years is a lot of inflation, though. $5M in 20 years is pretty similar to $2M now. I hope your investments beat inflation!

[@domingochavez01]

I understood he did the calc with his money growing at 5% for that reason. Usually people run 8 or 10%

[@Veronica-tk9rl]

How do you pull your kids out of school? What process is that, will you be homeschooling for that semester? There isnt much content for FIRE with young kids... I'm in this scenario but would love to hear how others have made this work. @financialtortoise

[@MarriageKidsandMoney]

I'll let Tae respond but here's a family I interviewed that did this recently: kzbin.info/www/bejne/fofVgqF6eaiLf8Usi=dPIhGo6MBPjvT9zc

[@kaynenbrown5102]

Why 5% interest? Not 7-10?

[@MarriageKidsandMoney]

Personal preference. I plan with a 7% real rate of return personally.

[@uyscuti5503]

Tate is so awesome!!!!

[@gao-e4q]

For the Coast Fire calculator... cool tool. Just one question... WHY DOESN'T THE CALCULATOR TELL ME WHAT MY 'COAST FIRE NUMBER' IS? That is all :)

[@RockyMountainGardener]

Wow I love Tae, but he said they have 2 million after 7 years of saving (took 3 years to pay off 100k of student loan debt). That means that assuming an 8% rate of return they would have had to put away 220,000 a year! Most people dont earn anywhere near that before taxes, let alone after taxes and expenses including two young kids and childcare. They must have had really high salaries to make this happen.

[@tinachxx110]

Isn’t real estate in the mix? Then he wouldn’t be likely getting a 8 percent return on the real estate

[@sygyzy]

Big fan of the channel and new to Coast Fire. Weird question but is Tae saying “coast fire” or “ co set fi”? His English is perfect and this isn’t a jab at it or me trying to be insensitive. I truly don’t know if we’re talking about Coast Fire here or there’s some variation I haven’t heard of. I tried turning on closed captions but even that got it wrong.

[@MarriageKidsandMoney]

The terms "Coast FIRE" and "Coast FI" are often used interchangeably. A lot of folks have issue with the term FIRE in general due to the "retire early" part. I like Coast FIRE -- Coast to Financial Independence and Relax Early :)

[@tomkn777]

Hey, Kim. Can i have these question? Do you invest in both real estate and stock market? If you invest in stock market, what do you invest in index or mutual funds or stock? Thanks

[@_emh]

Tae goes into detail on his channel, but in general his portfolio is two Vanguard index funds: VTSAX and VBTLX.

[@mylittleocchio]

What is this conference Tae referred to?

[@MarriageKidsandMoney]

FinCon! - kzbin.info/www/bejne/eX2thKGCfp2De9ksi=7ewU-TxGr0CuZySc

[@christinab9133]

❤❤❤

[@Marl-hj8hh]

What branch of military and how long were you in?

[@Icecold0505]

He reminds me of Randall Park

[@HasanRifino]

👋❤

[@kenichi407]

tae's great and all, but one thing i'm concerned for the guy is that his well is drying up with regards to ideas for his channel. it feel's like he's on his second or third round of rehashing the same topics/ideas and repackaging for the sake of content. i guess there's just so much you can talk about personal finance. hoping he's got a backup plan for his youtube channel....

[@MrJacobrie]

Aren’t you already fully FI with $2M? Or at least really close?

[@mocheen4837]

I do not think $2 million is enough. I think $4 million - $5 million would be a better amount for either of the Coasts.

[@Zombiebeast1995]

It depends on how much you want to spend. The actual amount doesn’t really matter outside of that.

[@CmanCorporations]

His situation is different because he said his cash flow now takes care of all of his expenses, so he doesn't even need to 4% drawdown on his $2M. So he's not really retired anymore. He runs a KZbin channel that has good cash flow. $2M definitely isn't enough if you live in a standard metro area if you still have a mortgage. If you don't have a mortgage $2M is likely enough. If you do, $4M would probably be the number.

[@richardp1517]

Smoking crack if you don’t think 2m is enough to retire

[@chipper6729]

He clearly noted 20 years it would grow, so FI not FIRE

[@scsu300]

I'm definitely not ok with 6-8% per year.

[@User12345fan]

If you have 2 million you are fire, not coast fire The kids will not be there forever to financially support.

[@jesuisrobert808]

$2 M saved for entire family?

[@autobotdiva9268]

getting retro pay raise and investing that into HSA. not buying a Gucci Purse

[@timobrien4634]

Work for another 20? Why?

[@fs5775]

some people like their job

[@mocheen4837]

I plan to work until 60 and retire with a net worth over $5 million.

[@boredoreos]

He said real estate is included? Bruh. 2,000,000 is low for 42.

[@doug2731]

"$2,000,000 in investments by age 42" so why are you spending so much time making KZbin videos?

[@MarriageKidsandMoney]

That's the point really. After you amass wealth, sure ... you could sit around and do nothing. That gets boring after a while. The real joy in life comes from giving back, creating community, and helping others. Tae is doing that with his channel. And hey, if he makes money while doing it ... good for him.

[@carlyndolphin]

My net worth is $6 million $3m real estate $2m global ETF $6,000 gold $30,000 bitcoin $1m company value

[@johnyjsl9219]

Fuck!

[@carlyndolphin]

@@johnyjsl9219 if I retired I still can’t afford to live in New York. I probably could if I was careful. I’m actually from the UK.

[@Pat7629]

My net worth is $3.2 million at age 47 and I’m single and I don’t think it’s enough. This guest has $2 million as a married couple which means only $1 million each. $1 million is only going to yield $40,000/year pre-tax which means roughly $30,000/year post tax. Health insurance alone costs $1,000/month +. A 4 year college education he’ll have to pay for is on average $300,000 for each child. He’s going to need a new car every ~7 years that’s $35,000 for an average non-luxury car. I don’t understand how this math adds up (?). I see $5 million investable assets per person as the minimum. It would need to be higher with children. Each child over the 18 years of parental care is going cost about $1 million per child factoring in food, fees for activities like sports, day care, health care costs and college which costs multiple 6 figures.

[@chelseannett]

2M is the amount he has in retirement if you watch past two minutes, which will be 5M when he retires at age 65 and they will have no child related expenses by that time

[@loft27ss]

Your believes is just your believes. Many people would not need to change car every 7 years and buy it new for 35k😅 Read a book “ your Life or your money” by Vikki Robin- it might shift your mindset

[@oliviab3807]

❤❤❤

[@MarriageKidsandMoney]

Thanks for watching!