
#2: Ten Reasons Why Coast FI is The Best FI
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In this episode I cover:
- My money background: from the early days as an electrician to my pivot to financial services.
- How I heard about FIRE and became a "Dave Ramsey Graduate."
- I didn't love my work and I wanted out.
- My life changed when my daughter was born and I had just heard about CoastFI from Jessica from The Fioneers.
- CoastFI is reaching a point where savings becomes optional.
- This can give you a lot of freedom and flexibility in your life.
- I realized that I had already reached CoastFI.
- I could downshift my work, and lean into a flexible and intentional lifestyle.
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You can reach Coast FI much quicker than other forms of Financial Independence.
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It's a more sustainable and balanced approach to FIRE.
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You continue working, which can have many benefits.
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Most people will continue working after reaching FIRE anyways.
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Young people can reach their coasting number much easier.
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Coasting lets your money do the majority of the heavy lifting.
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It's incredibly flexible and scalable—you can coast for a bit, then pivot back.
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There are fewer risks of depression and social isolation.
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You will increase your Social Security Benefit.
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You don't have to wait to work on your terms.
In the end, CoastFI is a simple reframe: you don't have to go all-out to reach FIRE. You can work towards FI in a slow and balanced way.