Why Coast FIRE is Easy & RISKY At The Same Time

[@FIREPsyChat]

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[@glasshalffull2930]

This is the most jacked up and simplistic plan I have ever heard of. You’re looking 30 years into the future to figure your annual expenses. In the last few seconds of the video, he finally mentions inflation. Well with 3% inflation, the $60K will have ballooned 145K annual expenses. IMHO, great to contribute as much as you can early, but continue to do that through your career (enjoy life though). When your are 3 to five years out, then decide if you can cut back and build a really great emergency fund that can weather a few year market downturn. There are really only two scenarios: Damn I didn’t save enough and Damn I saved too much.

[@george-ng5gj]

I’m 40, I’ve got $2M in liquid and retirement investments. I own my home worth $750K today, no debt and annual household expenses of $75K. I have two young kids under 2 and I’d like to quit my corp job and consult on the side to spend more time with my family. Can I coast fire?

[@connke867]

@@george-ng5gj you already did it! The question isn't can you coast fire, but can you full fire

[@jacejunk]

Clever channel name.

[@rswiss9748]

Cool approach, but wouldn’t it be advantageous to continue investing some money, perhaps to continue receiving an employer match?

[@FIREPsyChat]

That’s definitely a risk of missing out on what you could gain. I want to push the concept out because there are people who are interested in it. I’m personally not doing Coast FI. Great question