Coast FIRE Explained

Coast FIRE is a popular financial independence strategy because relative to the other FIREs, it's relatively easy.

FIRE stands for "Financial Independence, Retire Early" and involves achieving financial security before the traditional retirement age of 65 and exiting the workforce on your own terms. Coast FIRE is a lower-stakes financial independence strategy. It involves aggressively saving when you're young to hit a target amount in investments that will allow your portfolio to grow to an amount sufficient to retire on without any additional contributions. This way you can "coast" to a comfortable retirement, even if you never add another dime.

For example, let's say you need a $1.2 million dollar portfolio at age 65 to ensure a comfortable and secure retirement. You’re currently 25 years old and want to achieve Coast FIRE by age 30. Assuming you can get an average return of 8%, you need a portfolio of at least $81,162 by age 30 to ensure you’ll have $1.2 million at retirement.

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