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Coast fire reddit. Coast fire does not mean I can retire with $360k.
Coast fire reddit. While owning a practice is obviously a bigger payout in the long run, I see how much of a PITA staffing, dealing with insurance, and just ballooning overhead has become in the past few years. It not worth for high income. We were both burned out and wanted to recenter of focus on our family. I'm not interested in retiring early persay, I just like the financial independence aspect — I'm after the flexibility that it would give me re: work. SO and I recently decided to pull the trigger and coast. With that in mind, the possibility of going part time is definitely on my mind now that we have hit our CoastFIRE numbers. . Pays well in a LCOL area. You max out 401k traditional and when you fire, your income drops and you convert traditional to Roth and pay low tax. All of We would like to show you a description here but the site won’t allow us. What the title says. You can FIRE with Coast FIRE - I’m on track to coast for 15 years with enough saved to fully retire at 55. Doing less stressful work in WITCH and plan to do so till 58 and travel different countries on company money. What is different about the way someone manages their income and portfolios if they are coast fire vs barista What Is Coast FIRE? Many high-income earners can save enough money at an early age to easily reach financial independence and traditional FIRE or Fat I’ve been running the numbers and it looks like I’ll hit my coast FIRE number by age 25 to 30. I’m 33, wife is 30. While you haven’t FIRE’d yet in the coasting phase, We would like to show you a description here but the site won’t allow us. Posted by u/lseactuary - 1 vote and no comments Hey guys! I definitely believe in the coastFIRE principles and think it makes more sense to enjoy life now, in my youth, than to retire a few years earlier or with more money than I need. HHI is usually 250-275k. Thanks! Coast FIRE is when you have enough saved and invested that with no additional contributions, your net worth will increase with compounding growth to support a traditional retirement. So what is the difference between these two? Coast FIRE is when you have enough saved and invested that with no additional contributions, your net worth will increase with compounding growth to support a traditional retirement. What this means is that I saved enough for a normal retirement and I only need to work to cover my annual expenses which are about $30k - $40k. It’s turned into a full time gig, and is even easier after a promotion. This worked for a couple of years and then I got bored when the kid started school. Anyone that has prioritized their life over their career while doing something they genuinely enjoy is basically coast fire in my books. 2m at 68. My new goal is 3. Just curious to hear the communities thoughts. In the meantime you can be semi retired because you don't need to save anything substantial and can enjoy We would like to show you a description here but the site won’t allow us. This is a place for people who have reached or are interested in reaching the milestone of Coast Financial Independence / Retire Early (aka Coast FIRE). Doesn't need to be being a barista, could be any low paying job you use to supplement your withdrawals, often (but not always) until social security or a pension or something kicks in. Coast FIRE is when you have enough saved and invested that with no additional contributions, your net worth will increase with compounding growth to support We would like to show you a description here but the site won’t allow us. At what age did you guys go part time? And at what net worth? Any Coast FIRE is when you have enough saved and invested that with no additional contributions, your net worth will increase with compounding growth to support a traditional retirement. I created this tool to make it easy to visualize how (1) different retirement ages, monthly contribution amounts and yearly expenditures in retirement impact your (2) Coast Fire savings target and Coast Fire starting age. I’ve followed the FIRE movement for a long time but am new to Reddit. So I got an easy, part time WFH job. A Coast FIRE calculator typically considers: Current Retirement Savings – How much you’ve already saved. Hi! I'm new to FIRE and just recently joined the subs and found out this concept, I find it super interesting! I was wondering, what is the diference between FIRE and Coast FIRE? Or even Barista FIRE? I think I understand the differences between Lean and Fat FIRE, anyway. If I consider my NW including the house, I have already reached coast fire. Start your COAST FI journey with our easy-to-use calculator to understand your Coast FI number and years it will take for you to become Calculate your coast fire number and visualize your financial future. I (40m) and spouse (35f) live in a hcol area. I’m now contemplating selling/quitting my company at an earlier time and starting a foundation. Formosa Fun Coast Off Topic Anyone know if it's possible to visit the Formosa Fun Coast water park? I am aware it is permanently closed due to the tragic fire. For those who are new, welcome to r/coastFIRE! This thread is intended to be our weekly watering hole for advice, feedback and mentorship related to Coast FIRE. 5 years and that year or the next sees a big market drop 30-40%. I know several people on this sub have plans to coast themselves, but others are on this sub because it's another FIRE sub or just see coast as a milestone. Additionally, is it as low stress as you expected? Do you find yourself more passionate about this job or do you regret changing from your old work? Do you work a full time week even? Edit: It seems as though I meant baristaFIRE. Coast FIRE means you have enough in your retirement accounts that without any further contributions, it will grow into enough to cover your “traditional” retirement. Post your detailed information for advice and mentorship on your Coast FIRE plan 31, $340k saved - Is Coasting in sight? Ready to flip my desk and be done Scenario 3 – Determine Monthly Investment In this scenario, the spreadsheet will calculate the minimum monthly contribution required to make during the pre For anyone trying coast fire, you should consider over employment. 1. Say you hit your coast fire number in 2. We have invested assets over $600k. 2M for coast, 4. "Have enough in the bank to do what you want. If I use the 25x rule, my fire# is 2. Is 200k by 30 enough to coastFIRE with the most conservative parameters? From what I've read online, Barista FIRE means just making up the extra few grand a year you need by working a low end job like a barista, golf club helper, handyman, Uber driver, etc. I'm still studying but want to get started on my financial independence sometime next year! Coast calculators say we are 2-6 years away from Coast fire depending on formula. I am pregnant and am hoping to go down to 3 days a week eventually. My wife and I brought my kids to the Formosa Fun Coast water park every summer and it was always the highlight of their summer in Taiwan. g. Your reach a particular amount and the portfolio carries on with minimal contributions just on it's own momentum until you hit your FI # at your specified time frame. Barista Fire - Technically this is where you're starting to withdraw some money from your nest egg, but you're supplementing it with some sort of low paid job. I'm 31 and my spouse is 29. Was wondering how much you all think you need when you retire? Reached Coast Fire, thinking of converting from employee to consultant with former employer as initial client - anyone else done this? Developed subject matter expertise in a narrow field and believe that there are opportunities in this space, if not then it ends up being a career break or full retirement. I know it’s a big oversimplification and a lot smaller than others Coast numbers (in terms of the current asset amount). Annual Spending in Retirement – Your expected yearly expenses in retirement. 5M My coast fire number is $2. The first step to calculating Coast FIRE is defining how much money you will need in retirement. Retirement Age Goal – When you plan to retire fully. However, zero income "Have enough in the bank to do what you want. 6M which is supposed to be my previous coast#. After your net worth has passed what we will call your Coast FIRE number, you still need to earn enough to cover your expenses I just did some calculations and realized that I am coastFIRE!! 🥳🥳 NW: 250k Currently spending 3k a month and planning to maintain that Around 100k is locked up in real estate, the rest is invested in indexfunds. But house is not a liquid asset and also does not compound the same way as a stock portfolio and is still taking money from me We would like to show you a description here but the site won’t allow us. Investment Growth Rate – Expected average return (e. It seemed impossible just a few years ago, but I dramatically downsized my housing and decreased my expenses to a very low rate, started working a LOT and threw everything I could into my 401k and high yield and brokerage. , 5-7% per year). 8M however that assumes my current financial needs and health needs don’t change 30yrs from now. Is that too young to coast? I don’t mean in the sense of interest rates not being guaranteed, I mean in the sense of, is there any value to working full-time longer than I have to? Coast FIRE is when you have enough saved and invested that with no additional contributions, your net worth will increase with compounding growth to support a traditional retirement. Will post this in coast fire too. Yes, I think many of us are, even if we don’t label it as coast fire. You aren't coasting any more. Coast FIRE is all about using your savings to unlock freedom before hitting regular FIRE. u/coast_fireIba talaga sa pilipinas, econ fundamentals don't work here lol. 6M with $650k mortgage liquid investments of $1. My FI# was around $1M but I recently read about Coast FIRE and it makes a whole lot of sense. We would like to show you a description here but the site won’t allow us. 5 years of it radically altered my life trajectory If you're looking specifically for a coast fire calculator that accepts specifying income sources at arbitrary times in the future before retirement, this coast fire calculator may have the flexibility you and the OP are looking for. 440 votes, 144 comments. Inflation Rate – The rate at which costs will rise over time. " This is a place for people who have reached or are interested in reaching the milestone of Coast My husband and I decided he would coast and I would full fire in our late 30s. First of all, let me explain what coast fire is because it caused confusion on my other posts. All I really care about is hearing from people who had enough financial security to switch to a job they enjoyed more or had to work less despite the We would like to show you a description here but the site won’t allow us. Would love to hear your all’s thoughts on this question: should I continue to crank hard at work for the next ~5-7 years, chubby FIRE retire at age 50 (TBD on how chubby/fat), or should I start to coast fire immediately, which would prolong my ability to fully fat fire retire until closer Hi guys, Wondering what are your thoughts on the Coast FIRE strategy? "Coast FIRE varies from traditional retirement strategy in that you strive to contribute heavily to your retirement and investment accounts early on in your career. TLDR :- Somewhat reached coast fire with low Indian WITCH salary due to onsite and equity bull market in last 5 years. Weekly “Help Me Coast FIRE!” thread. Hypothetical situation: 42/F/Single/no kids living in US wanting to reach FI at age 62 but to Coast as quickly as possible (really depressed at current job) $250k currently between 401k/IRA/small brokerage By my estimates, say I need $1. I don't have many people to share this with, but I am so very amazed I've actually saved and invested 300k (not including my paid off small house). Back of the napkin math of equities doubling every 10 years for 40 years puts me at 3. Lots of folks settle into positions that require 10-20 hours a week while still paying the same. 1M. Here are more definitions of Coast FIRE from other FIRE enthusiasts on Reddit. Over the last few years I've done an annual post on how to look at what LeanFIRE, FIRE, ChubbyFIRE, and FatFIRE might mean Visualize and calculate how much you need to "coast" to Financial Independence by using the power of compound interest. Corruption talaga one of the biggest (if not the biggest) reason kung bakit ganito sa onion, sugar and other smuggled agricultural products. 5m to cover expenses in retirement Considering retiring somewhere abroad, perhaps Portugal fyi By my calculations, I was thinking I could I am very skeptical about coast fire because sequence of return risk for cost fire numbers really matter. " This is a place for people who have reached or are interested in reaching the milestone of Coast Financial Independence / Retire Early (aka Coast FIRE). All of this to "Have enough in the bank to do what you want. This is my third update on coast/slow fire. Coast FIRE is when you have enough saved and invested that with no additional contributions, your net worth will increase with compounding growth to support a traditional retirement. Let me give my situation and dilemma with the idea of coast fire. Financial stats: own a house value $1. If walang corruption and tama (at sumusunod sa batas) ang pagopen ng bidding for imported agri products eh di bababa ang presyo dahil magkakaron ng flood of I've been in love with fire for a long time now but just recently began realizing fire is more of a spectrum than a definitive finish line and really just depends on what you want. Coast FIRE is when you have enough saved and invested that with no additional contributions, your net worth will increase with compounding growth to support a traditional What is your coast fire number? Just curious on what are the numbers people are targeting for coast fire and with the added info of if you live in a LCL MCL or HCL area. 42F my current NW is 2. Hi there! New-ish to FIRE and recently learned about CoastFI as well as Flamingo FI and they seem to really align with my own personal goals. Please try to keep the discussion related to Coast FIRE as r/financialindependence has their own weekly "Help me FIRE" thread if you are more full-FIRE-inclined. " This is a place for people who have reached or are interested in reaching the milestone of Coast Put simply, Coast FIRE is when you have enough in your retirement accounts that without any additional contributions, your net worth will grow to support retirement at a traditional retirement age. Coasting to FIRE I figured I'd share my thoughts on coastFIRE since this is a pretty small sub. We spend about $100k a year. It's more advanced than the one in the sidebar, but not too overly complicated so it's still easy to use. I've played with a few Coast FIRE calculators online to help determine my number at MRA+30 but it's difficult to For those who are new, welcome to r/coastFIRE! This thread is intended to be our weekly watering hole for advice, feedback and mentorship related to Coast Coast FIRE is when you have enough saved and invested that with no additional contributions, your net worth will increase with compounding growth to support a traditional retirement. Coast fire does not mean I can retire with $360k. That’s your Coast FIRE number, the I am not sure how to really calculate how much I need, but i do plan on living off of my dividends. Just curious if anyone else is going after CoastFI or Flamingo FI, and what your experiences are so Learn what is Coast FIRE and how it can help you achieve financial freedom to help you enjoy retired life before your 60s. I'm trying to learn more about the ways that these levels of fire are different on a practical level. This is something that I’ve always been passionate about. Help me understand coast fire I think I understand the idea of coast fire, but struggling to understand how it works in practice and is it even realistic in all scenarios. But that's kind of the way Coast FIRE is described as well from what I read. 2M for fire to account for market fluctuations and worst case healthcare costs. ixbegsluouitzmjnbgbabhjszgcderhisecjoamwagwz