I’m technically at coast fire now but the thought of having to work until 67 is depressing to me so I’m working hard to retire early at 50 or 55. Wish I was in my 20s doing this but I’m a late starter at 40 but I’m still trying my best.
@PersonalFinancewithLeila
Жыл бұрын
That's still an amazing accomplishment! Have you thought about switching to a job you find more enjoyable?
@singleparentfire2363
Жыл бұрын
@@PersonalFinancewithLeila I can’t, I have a severely disabled daughter and can’t risk jeopardizing her financial future. If I was kid free I would 100% find a more enjoyable job and take a pay cut.
@FIRE_DrNinjaTurtle
11 ай бұрын
I am a late starter as well. I retired at 58.5 years old and my pension started at 60.
@autobotdiva9268
10 ай бұрын
having to work until 67....girl you know better than that, lol
@emilyau8023
8 ай бұрын
You also have to factor in inflation, and if your returns are not 7%.
@wildfoodietours
5 ай бұрын
The FIRE movement is a game changer! Your explanations are helpful and I love the idea of Coast FIRE to front-load investments where you can choose a fun part-time job to pay the bills until you get to actual FI.
@QuesttoFIRE
Жыл бұрын
Nice calculator! I hadn’t seen that one before. I hit coast FI a year or two ago. It’s definitely a motivating milestone to hit! But I do want to RE, so the aggressive investing continues. 😊
@autobotdiva9268
10 ай бұрын
yay!!!
@Akaypot
Жыл бұрын
Hopeful to hit Coast FI this December!! My motivation was being able to work part time/have a few years out of work for when I have children (God willing) and not having to worry about catching up with retirement!
@PersonalFinancewithLeila
Жыл бұрын
That's so exciting!!
@creativelove1005
Жыл бұрын
I've been loving the content lately. Helps me explain the fire movement to family members
@Daniel-iy4zy
Жыл бұрын
Would you mind linking the calculator again? I can’t find it in the description
@PersonalFinancewithLeila
Жыл бұрын
So sorry I left that out! walletburst.com/tools/coast-fire-calc/
@emilyau8023
8 ай бұрын
Beginning this at age 23! I wish I knew about this at 19.
@PersonalFinancewithLeila
7 ай бұрын
Me too! But 23 is still soooo young and you're in a good field! 👏🏻
@nomadicvibesofelle
Жыл бұрын
The calculator was really helpful. I am 6 years from coast fi. Hoping to increase my contributions enough to drop that down to 4 years
@budgetnerds
Жыл бұрын
Great video thanks! I'm going to play around with that calculator! I would like to reach FI by retirement age, but don't realy want to persue RE, so this might be a good one for me!
@kevinj9390
2 ай бұрын
It’s worth noting that in the calculator you used the inflation just adjusts down the growth rate you input but not adjusting up your assumed retirement spending. In your example, $40K retirement spending by the time you get to 2060 is the likely equivalent of only spending $13500 in 2023 dollars assuming an average 3% inflation over 37 years. If, in turn, you wanted to spend the equivalent of $40K(2023) in 2060 you’d need to input a retirement spending of $120K.
@preston7724
12 күн бұрын
From the notes: Don’t worry about inflation, it’s built-in to the calculator! This calculator accounts for inflation by subtracting the inflation rate (from the input slider) from the investment growth rate of return. This gives an inflation-adjusted rate of return which is then used to calculate your Coast FIRE number and draw the graph. With this approach, all the numbers in the calculator are adjusted to be in today’s dollars. Think about it like this - you don’t have to worry about cost-of-living increases because it’s already skimmed off of your expected investment returns.
@salesmans1
7 ай бұрын
Is social security included in the calculator? If not then that the numbers are no accurate, and that changes everything
@PersonalFinancewithLeila
7 ай бұрын
No it's purposefully left off because then you are even more prepared for retirement.
@KatieoftheHouse
Жыл бұрын
I’ve never heard of this, but I’m intrigued! I’ll definitely be playing with this calculator. Thanks for sharing!
@mattrobertchampoux
7 ай бұрын
Something to consider would be how old you are compared to when you start to coast. If your 30 and coast till 60 your 1.5 mil would only be about 750k in todays money due to inflation.
@kay203
Жыл бұрын
Depending on the assumption changes (growth and inflation), I'm reaching coast FI in 4~8 years (I"m 35 now). But... going for full FI (expected at around 50 ish) and then fully retire, rather than coast FI and take less paying job
@FIRE_DrNinjaTurtle
11 ай бұрын
I am at coast FI.
@colorsofavon934
Жыл бұрын
TFS! This was very interesting. 🧡
@brianfp5712
11 ай бұрын
Would potential pensions and social security (US context) change the Coast FI number? Meaning it could be a lot less factoring any additional streams of income at projected offramp age?
@PersonalFinancewithLeila
11 ай бұрын
Oh yeah definitely!! So usually that isn't used when calculating any FI numbers which means you'll be even better off in the future
@erdrick22
11 ай бұрын
Great explanation!
@melissab0515
Жыл бұрын
We are at coast fire but my one issue is some of it is in cash and I am in a disagreement with hubby on investing vs leaving some in HYSA. It’s about 50/50 now.
@PersonalFinancewithLeila
Жыл бұрын
Congrats!! But yeah that's definitely tricky. Personally, I would keep 1 year of expenses in cash and invest the rest!
@inea-fijourney22
Жыл бұрын
loving these series! Im currently on my way to reach coast fi in a couple of months! But will definitrly keep on going until traditional fire.
@PersonalFinancewithLeila
Жыл бұрын
So exciting!!
@wealthbuildingstory
9 ай бұрын
The further along I get in my journey, the more I think CoastFI is for me
@PersonalFinancewithLeila
9 ай бұрын
CoastFI is the best honestly! CoastFI into SlowFI 👌🏻
@kevinbuechter4692
11 ай бұрын
good vid
@SweetPotata10
9 ай бұрын
What if it says my coast FI is the same age as my desired retirement age? Does that mean it’s not just coast but actual FIRE age?
@emilyau8023
8 ай бұрын
People doing coast fire are still retiring at 65. It just means you can take a lower paying job or rest somewhat easy about retirement or contribute less when you hit coast fire. If your coast fire number can only be reached at 65 or later, then you need to contribute more by increasing your income. For instance, my fire number is 1.2 million or greater, but my coast fire is 300k. When I hit 300k I can mentally rest easy knowing it's likely I'll be alright. But, predictions don't always go to plan, so I'll always contribute the same amount. It's just for mental relief for me.
@preston7724
12 күн бұрын
I guess it means you wouldn't be coasting into the number you want early; you would be continuing to invest regularly until you are ready to retire. The only way to coast into your desired retirement age with a certain $ amount would be to invest more earlier so the compounding returns let you slow down your investment amounts in order to coast into the age when you no longer need to have a job, but can withdraw from your investments to support yourself.
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