You Don't Need to Contribute 1 Million to Retire | What is Coast FIRE & How Calculate It

How do you know when you're good to stop contributing to your retirement accounts and still be set for retirement? When you hit your Coast FIRE number.
Coast FIRE means you have enough money invested that you no longer need to invest any more to be okay for traditional retirement.
How is that possible? BECAUSE OF COMPOUND INTEREST!
That's why investing is ESSENTIAL to building our wealth. Coast FIRE uses the power of compound interest to grow on its own without additional contributions.
Calculate your Coast FIRE number: walletburst.com/tools/coast-f...
Calculate how much you need to invest to reach your number: www.calculator.net/investment...
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[@inea-fijourney22]

I compute all my numbers: FU Money, Coast FIRE, Lean FIRE, Barista FIRE, FIRE and Fat Fire. That way whenever I reach each number I can make decision based on my situation. If Im on a good job, want to keep working, want to change careers, industries, start my business. I can decide at the time I reach each number. Thanks for sharing!

[@FirstGenMoney]

That's such a good point Inea! I definitely can do a better job at tracking where I am in terms of my numbers!!

[@AndriaLiana]

Hi ! The 225K is the amount you need to have at your current age to coast according to your first simulation, if you take multiple years to get to 225K, it changes everything :) you can see in the coast fire calculator that the coast fire number changes each year.

[@DavyYap]

COAST FI is still pretty new to me. Thanks for breaking it down!

[@FirstGenMoney]

Happy to! Thanks for watching :)

[@g99se9]

15% 401k 10% High interest savings OR brokerage acct OR emergency fund 10% short term fun money 65% Fixed expenses Buying a house is overrated.

[@alessiagandolfo9305]

Great video! It made me calculate my number that is similar to yours even If my starting point is lower, but I'm excited to get started!

[@FirstGenMoney]

Yay Alessia! Knowing your number is always the best place to start because now you know exactly where to go :)

[@Joycelyn]

I never heard of coast FIRE. Thanks for sharing.

[@FirstGenMoney]

Of course! Thank you for watching :)

[@inea-fijourney22]

supscribed, liked and commented to help you get closer 😃

[@dpbass8898]

It’s been 2 years! Have you made it? Also would you count rental property in your investable assets

[@FirstGenMoney]

I need to make an updated video!! SO much has changed and YET not that much LOL... No i don't have any rental properties ... nor do I own a home

[@JoeCoz17]

And what happens if the markets are flat for an extended period like Japan. Risky

[@TheFirstRealChewy]

Coast FIRE is a cool concept, but I don't think anyone actually follow it.

[@jozkomrkvicka7607]

4:02 omg of course you can retire having 7% of return p.A. but this is not always the case....

[@davidmckeever]

$40k annual spending? That Seems very low. Why such a low.number?

[@tyecooper4536]

People please understand what to invest in, its not just about throwing your money in the market thinking you'll be a millionaire in 20 yrs. Educate yourselves on what to invest in

[@NormSpecial]

❤️🧠💪🏼💲☮️

[@FIRED13]

"Assuming everything goes well with the market" you just jinxed yourself. Crap's going to hit the fan and you are going to see a setbsck, so plan for that

[@DoubleJabSlipRightHand]

Is this a parody or an actual person? If so, get a therapist. The internet ruined you.

[@FirstGenMoney]

I was made on ChatGPT