How to Reach Coast FIRE by Age 30, 40 and 50 (2022)

Рет қаралды 20,032

Күн бұрын

Coast FIRE is when you’ve saved up enough in traditional retirement accounts that you’re able to simply coast to retirement without any further contributions.
Based on that concept, let's take a look at how to reach Coast FIRE by age 30, 40 and 50.
CHAPTERS
0:00 Intro - Coast FIRE
1:40 - Coast FIRE Data Set
2:54 - Coast FIRE by Age 30
4:32 - Coast FIRE by Age 40
5:14 - Coast FIRE by Age 50
6:15 - Coast FIRE by Age 30-56
7:02 - Final - How to Reach Coast FIRE by Age 30, 40 and 50
#coastfire #familyfinance #retirementinvesting #firecommunity #personalfinance
RESOURCES
Prefer reading? Here's the full article: marriagekidsandmoney.com/podc...
Ready to open a Roth IRA? Here's a step-by-step guide: marriagekidsandmoney.com/how-...
Want to build generational wealth for your kids? Check out my course: www.marriagekidsandmoney.com/...
OTHER VIDEOS TO WATCH
Coast FIRE: An Easier Way to Join the FIRE Movement - • Coast FIRE: An Easier ...
We Achieved Coast FIRE! How We Saved $500k by 40 • We Achieved Coast FIRE...
Coast FIRE Achieved at 35 w/ $600k (Josh Miller) • Coast FIRE Achieved at...
MARRIAGE KIDS AND MONEY:
This award-winning blog, podcast and KZfaq channel are dedicated to helping families build wealth and thrive. Each week, Andy Hill shares actionable advice and tips for family financial independence. Also, he interviews personal finance experts, families who've achieved financial independence and debt-free parents to inspire you to do the same.
BIO - ANDY HILL:
Andy Hill is the award-winning family finance coach behind Marriage Kids and Money - a platform dedicated to helping young families build wealth and happiness.
Andy's advice and personal finance experience have been featured in major media outlets like CNBC, Forbes, MarketWatch, Kiplinger’s Personal Finance and NBC News. With millions of downloads and views, Andy’s message of family financial empowerment has resonated with listeners, readers and viewers across the world.
When he's not "talking money", Andy enjoys being a Soccer Dad, singing karaoke with his wife and watching Marvel movies.
✅ CONNECT WITH US
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DISCLAIMER
This show may contain affiliate links or links from our advertisers where we earn a commission, direct payment or products. Opinions are the creators alone, and this content has not been provided by, reviewed, approved or endorsed by any advertiser. Information shared on this channel is for entertainment purposes only and should not be considered as professional advice.
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CREDITS
Research & Writing: Andy Hill
Video Editing: EditVideo.io
Thumbnail: Ardi, The Thumbnail Wiz

Пікірлер: 83

@MarriageKidsandMoney Жыл бұрын

Check out our NEW and UPDATED Coast FIRE by Age 30, 40 and 50 video here: kzfaq.info/get/bejne/oJepfbCc3ZzViqM.htmlsi=rrTAESP8YMdT-V5d

@TheFirstRealChewy Жыл бұрын

The reason I didnt invest more earlier is because I didn't know about investing until much later in life.

@MarriageKidsandMoney Жыл бұрын

I hear this! I didn’t start seriously investing until almost 30

@Leeandemma88 11 ай бұрын

Same for me. I found out about index funds from a close friend at age 34. I am now 35 and already have my portfolio at £120k I know I will make it. I don’t need the £1.8m stated. More like £1-1.2m. I am investing at least £25k per year which will at 7% get me coast fire.

@MarriageKidsandMoney 11 ай бұрын

@@Leeandemma88 Wow, you're growing fast!

@chadgranoff5698 10 ай бұрын

The true crime of society. And here we are with a divided country and nobody is talking about survivial skills like these. I wish this was mainstream. Oh well. I'll hide in my bunker.

@MarriageKidsandMoney 10 ай бұрын

@@chadgranoff5698 Thanks for watching! Please share and get the word out there. Life is for living!

@thesytch Жыл бұрын

This was such an encouraging video. We are close to hitting coast fire. As long as things go as planned, we should hit it in 2 to 3 years. I am not sure that we are going to change our lifestyle much, BUT I am expecting it to help me better mentally handle my 9 to 5

@MarriageKidsandMoney Жыл бұрын

That’s awesome! Please stay in touch as I’d love to celebrate your Coast FIRE win

@thesytch Жыл бұрын

@@MarriageKidsandMoney I definitely will!

@astrahl 3 ай бұрын

@@thesytchmake sure you don’t follow his math tho because it’s very incorrect. Be careful listening to KZfaqrs who got a their knowledge from other KZfaqrs!

@nitradee317 Жыл бұрын

Great video! Thanks.

@kumasagatimr.4568 11 ай бұрын

I don’t understand how people need so much money for retirement. I can live very well off of around $3000 per month. My SS should be around $2500 per month. If I have enough in my 401k to withdraw $500-$1000 per month for 20-25 years that should be enough for me.

@MarriageKidsandMoney 11 ай бұрын

That's great to hear! Ultimately, it depends on your comfortable cost of living. We have people who listen or watch from high cost of living areas like Northern California or NY and they often need a lot more than others in the US.

@GrantAllenVideo 3 ай бұрын

i've got a question. How does family size calculate into Coast Fire and other retirement calculations? or are the savings/returns the same for a various people: single, DINK, married 1 kid, married 6 kids, divorced, etc? i myself have 6 kids and wonder if that changes savings goals at all?

@MarriageKidsandMoney 3 ай бұрын

Great question! A lot of this boils down to annual spending now and then in retirement. Will your spending with 6 kids today be massively different than your retirement years? Check out our free Coast FIRE calculator to play around with your numbers: kzfaq.info/get/bejne/g7GBe5NjycnDe5s.htmlsi=TKEjrYl7hS4BvXQ-

@dpbass8898 6 ай бұрын

I just recently learned about Coast Fire. I think I’ve already reached the coast fire number at 35 years old but how should I value real estate? I own a property that is fully paid off that’s worth around 250k. Currently it cash flows about $1500 a month. How would I value that when looking at Coast Fire?

6 ай бұрын

Most of Fire number was based on diversified stock portfolio. If you go with property, there are a lot of other moving part you need to consider. Property is only have land value going up, the house is depreciated by time, need maintenance and big renovation in some stage. Cash flow performance is limited to location and circle of that suburb market pocket. Also, no study or research can tell you how your 1 property can consistently perpetuate like stock market. If you fund your retirement with property, you would need multiple property in different locations to reduce the risk. Hope it help, cheer

@bagusanindityo7742 Жыл бұрын

Hi..nice video..I have one question in mind...how coast fire calculation account for inflation? Thanks...🙂

@bagusanindityo7742 Жыл бұрын

Is it in the "adjusted inflation" return?

@MarriageKidsandMoney Жыл бұрын

The real rate of return of the US stock market over the last 100 years has been around 7%. This includes inflation and assumes dividends are reinvested. Will everyone earn this amount? No. Does past market performance predict future market performance? No. Investing involves risk and you could lose money.

@frugalnfine Жыл бұрын

37, with $262k invested… little behind… if the market turns around soon that’ll help haha

@MarriageKidsandMoney Жыл бұрын

Nice work! We could all use a little bit of love from the stock market. Also, don't forget to include your social security income and any other income from pensions or the like.

@TheFirstRealChewy Жыл бұрын

You are doing great! Any addition is bonus.

@felipefn88 5 ай бұрын

So, when you say have this much invested you are including all types of investments? From HYSA to HSA to CD, to Brokarage accounts?

@MarriageKidsandMoney 5 ай бұрын

Great question! Personally, I'm including assets that are invested in the stock market. For us, that is IRAs, brokerage accounts and the amounts invested in our HSA. We're not including cash savings in our HYSA, HSA or things like CDs. I hope that helps!

@autobotdiva9268 Жыл бұрын

still doing #coastfire the best i can.

@MarriageKidsandMoney Жыл бұрын

It’s been tough lately!!

@demontank76 Жыл бұрын

Wow, according to this video/chart I am like 150k ahead of being coast fire! Guess I can pull back a bit & invest in stuff I can use before retirement

@MarriageKidsandMoney Жыл бұрын

It’s a big decision and something to think about!

@demontank76 Жыл бұрын

@@MarriageKidsandMoney upon further inquiry I realized that a good chunk of IRA came from an inheritance when my dad passed 5yrs ago. I hope to talk to my financial advisor soon on what I can do with it. B/c I have seen stuff saying I have to take the $ out but I also saw I can transfer into a new IRA.... This is confusing stuff lol

@MarriageKidsandMoney Жыл бұрын

@@demontank76 Yes, I think talking with a financial advisor could be a smart move. I suggest a fee-only CFP that you pay for their time and not for ongoing portfolio management.

@leraenrique 4 ай бұрын

When calculating my Coast FIRE number: should I take into consideration social security money I will receive when retiring?

@MarriageKidsandMoney 4 ай бұрын

Great question! Currently, I do not (as a buffer for taxes, the status of the social security system in 20 years, etc), but you can definitely count it. Check out how much you are projected to receive on SSA.gov

@kal8109 Жыл бұрын

We hit the coastfire number but lost 100k in the past 1 year. May lose another 50k this year with the current market condition.

@MarriageKidsandMoney Жыл бұрын

I feel this so much! What a rough year we’ve had. I’m hopeful that things will pick up later this year or early next.

@Azel247 10 ай бұрын

Market drops are factored into the 7% annual average return

@PW060284 2 ай бұрын

Are these aggregate numbers or individual? 220k per person or per household

@MarriageKidsandMoney 2 ай бұрын

Per household, that being said, I'm working on a new video right now with updated numbers. The 2022 inflation was brutal for this calculation!

@nikkian9254 5 күн бұрын

Ive reached coastfire, but living expenses where I live is high, requires i make at least $4500 cad/mo 🥲 with annual expenses up to $65k/ yr after tax with property taxes and things. Pre-tax annual would need to be at least $90k cad/year, i dont consider that being able to enjoy life the way i want considering thats the average pay for the field I'm in so I cant technically enjoy "coastfi" 😢

@MarriageKidsandMoney 5 күн бұрын

I feel what you're saying! Inflation has been rough over the past few years. Check out our updated version of this video from 2024: kzfaq.info/get/bejne/oJepfbCc3ZzViqM.htmlsi=rrTAESP8YMdT-V5d

@nikkian9254 5 күн бұрын

@@MarriageKidsandMoney Ty!! will have a watch ☺️

@kimwieczorek1879 8 ай бұрын

Hubby and I are 65, 58 and retired/disabled. Our mortgage is paid off, have no car or ccard bills, have 20k in EFund. What do we do next?? Ty

@MarriageKidsandMoney 8 ай бұрын

Congratulations on all of your efforts! What is your income source in retirement?

@kimwieczorek1879 8 ай бұрын

SS, SSDI, PT job= 45k a yr.

@MarriageKidsandMoney 8 ай бұрын

@@kimwieczorek1879 Excellent! At this point, enjoying your money, using it to spend time with the ones you love and giving back are the best uses of it, in my opinion. What goals or dreams do you have in retirement?

@withyoctopus 4 ай бұрын

The numbers are very high. I thought "oh, I'm Coast fire" until it hit me that they think about individuals, not couples. I will have to work for a long time to achieve anything like that. Probably until 55 or longer.

@MarriageKidsandMoney 4 ай бұрын

These numbers are just for educational fun. I'd recommend meeting with an "advice-only financial advisor" to discuss your specific situation. You may be better off than you think!

@carolannstevens5814 Жыл бұрын

Please help. I am 64. We started investing really late. Looking to divorce. No debt, I have been a SAHM. 1/2 of Pension $22,015 per year and will have SS around $1,800 per month. Middle of building house and it went south. Do I sell the house as is? House is worth around $500,000 unfinished. Not much in savings. Around $200k How do I go from here?

@MarriageKidsandMoney Жыл бұрын

Carol, you sound like you’re going through a very difficult time right now. If you are looking to divorce, I would highly recommend seeking a trusted divorce lawyer as soon as possible. The process can be lengthy and emotionally draining so it’s good to have someone on your side. I’ve done a few episodes on divorce that may help you: kzfaq.info/get/bejne/ibZ-Zqakp8m1aYU.html And financial infidelity: kzfaq.info/get/bejne/id-SaL1pmd-bf4U.html

@ms.budgetmom8472 Жыл бұрын

I make 70k yearly and will receive a gov pension of 3500 monthly after tax. How much more do I need to reach coast fire?

@MarriageKidsandMoney Жыл бұрын

Quick math, you could probably slice all the numbers I shared in half. It sounds like if you had about $1-1.5 million when you retire you’d be in a good spot then. ($1-1.5 million x 4% withdrawal rate = $40k-$60k/yr) (Pension = $42k per year) Consider taxes, etc if your retirement funds are pre-tax. How much do you have invested so far?

@ms.budgetmom8472 Жыл бұрын

@@MarriageKidsandMoney I have 400K in 401k and Roth.

@MarriageKidsandMoney Жыл бұрын

@@ms.budgetmom8472 How many years until your retirement?

@ms.budgetmom8472 Жыл бұрын

@@MarriageKidsandMoney 5 yrs.

@Captain_Jack711 Жыл бұрын

You're already there

@Exploring_Adventures 8 күн бұрын

If I’m 36 with $4m invested am I coast fire?

@MarriageKidsandMoney 8 күн бұрын

First of all, way to go! Second, it all depends on how much you spend and how your money is invested but I would venture to say yes. Check out our free Coast FIRE Calculator to check it out with your specific numbers: kzfaq.info/get/bejne/g7GBe5NjycnDe5s.htmlsi=4eWEjgDMUTHkcbD2

@donaldlyons17 Жыл бұрын

100K by 25 suggest a good income compared to expenses. How many people have 100K in 10 to 15 years they don't need over that time frame?

@MarriageKidsandMoney Жыл бұрын

I would venture that would be difficult for most people!

@donaldlyons17 Жыл бұрын

@@MarriageKidsandMoney Well maybe all depends on conditions. I have noticed those with good conditions don't say well my conditions were X which makes not sense since there are just some things we can't do much about. I always say I got to 39K cash due to luck and conditions because hard work alone would not have ever been enough. Too much of my present outcome(s) came down to luck and not hard work.

@MarriageKidsandMoney Жыл бұрын

@@donaldlyons17 That makes sense. I would say becoming a millionaire or hitting Coast FIRE becomes A LOT easier when you make a lot of money. No doubt. During our millionaire family journey, we averaged around $190k per year in income. That helped A LOT!

@donaldlyons17 Жыл бұрын

@@MarriageKidsandMoney Yeah the only reason I even write is because other KZfaqrs like "Our Rich Journey" keep talking about making average government incomes so lack of honesty is super problematic because it gives the wrong impression. THANK YOU FOR BEING HONEST!!!!👍

@thumpr1 Жыл бұрын

HA!! ha ha ha... I'm basically 48yo and there is no WAY I'm near $730K saved... OMG, that's crazy... I'll be working until 90yo.. Ugh!

@NomadicLifer 3 ай бұрын

I wonder if i am considered COAST FIRE. I plan on going hard for the next 5 years to get to 1 mil, then im going to just work part-time and enjoy hobbies in my 40s.

@MarriageKidsandMoney 3 ай бұрын

It's fun to think about! Life can be improved with intentionality and planning

@NomadicLifer 3 ай бұрын

@@MarriageKidsandMoney yeah. I just realized I hit my coast number 3 years ago and never noticed. Now I just want to double down so I can work when I feel like it.

@MarriageKidsandMoney 3 ай бұрын

@@NomadicLifer Way to go!

@julenecunningham4976 Жыл бұрын

I have 180k in retirement accounts at 35, planning on needing 36k a year in retirement so I think I have enough for these accounts to coast so for the next 10 years I'll be focusing on building my gap account to pay for early retirement if needed (I'll probably will be making some income) I have 14 in brokerage account hoping for atleast 200k to 300k by then.

@P__114 3 ай бұрын

Good content but IMO drop the silly voice / jump cuts

@MarriageKidsandMoney 3 ай бұрын

I'm glad you enjoyed the content and it was helpful for you. I appreciate the feedback on the jump cuts. Editing plays a big part in these videos. As for my voice, you'll have to take that up with God or my parent's genetic code.

@P__114 3 ай бұрын

@@MarriageKidsandMoneysorry, I didn’t mean it as a personal attack re your voice. I thought you were putting on a voice. I’m sorry. Anyway, I’ve watched some other videos of your so thanks. They’re good.

@astrahl 3 ай бұрын

I believe you made a massive mistake here. Most of the fire community does so it’s not just you. But saying you need 1.85M at retirement does not account for inflation devaluing your purchasing power. 1.85M 32 years from now will only have a purchasing power equivalent of about 840K which would equal 34K annually (assuming 4% withdrawal) in annual withdrawals. This 840k figure is assuming about a 3% interest rate devaluing your money over time.

@MarriageKidsandMoney 3 ай бұрын

It does include inflation - 1:53 but it's not perfect for sure. I'll agree with you there. Definitely seek out a professional real-life financial advisor before making any investment decisions.

@astrahl 3 ай бұрын

@@MarriageKidsandMoney you didn’t include it in the right part of the equation tho. That’s not how inflation impacts your retirement number. You can’t just subtract it from your interest. Inflation is important because it shows you what the value of your money will be at retirement, so instead of subtracting it from interest, you need to use it to determine the purchasing power of your money at your time of retirement, it has nothing to do with the interest calculation

@MarriageKidsandMoney 3 ай бұрын

@@astrahl you are right that it is not exact or perfect but it is pretty close. Here's another fun calculator to play with to show you the math isn't THAT far off: smartasset.com/investing/inflation-calculator The goal isn't perfect math. The goal is a realization that investing doesn't need to be a forever thing. I wish you the best on your journey!

@astrahl 3 ай бұрын

@@MarriageKidsandMoney I mean to be fair it’s not even close is my point. That calculator says that in 32 years the equivalent of 1.85M is 4.1M so your off by a ton just so your aware!