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It’s all about your goals and life plan. Kids, marriage, houses etc
Bro, great work.
Probably don't coast. Here's why.
Part 1 - You'll probably get married and have kids, and your spending will expand for them. Kids need stuff. Your wife is going to want some reasonable niceties. All of that is good to spend money on. Don't fill up your spending with nonsense for yourself.
Part 2 - Your ability to go hard is at its peak. Save aggressively now while your ability is greatest. Your future self will be grateful.
To give you some sense.... 34, wife + 2 kids, spend ~$95k/yr ($30k house, $30k daycare, $10k groceries, $10k insurance, $15k everything else).
I’m a bit late to the party but I think this is great advice. Starting when I was 22 I was investing about 45% of my paycheck. Then I fell in a love with my wife who makes 1/3 what I do and didn’t save a dime. We just had a baby and now we struggle to save even 20% of our income. I’m so grateful for those years I supercharged my savings because I am now 28 and worth $450k. Although I’m not putting a ton in right now, that money is still working for me
Mentor
Depends what your goal is and by when. Can you coast and still meet that goal? I started having more discretionary spend once I hit $800k in investments (retirement and taxable).
We'd need a lot more information. What does "coasting" mean? How much do you spend, and how much do you want to spend? What financial obligations to you expect to have? Family situation?
All that said, my finger-in-the-air guess is "probably". You cannot retire yet but you're well ahead of the curve. If coasting means taking a lower paying job, if you have no obligations, and generally have simple taste, you have enough security that you can probably relax.
Whether you actually want to that is a different question. If you keep similar earning rates for a while you will be quite secure. So for me it's a question of why you want to coast. Burnt out? Maybe switching to a different team or firm would give you a second wind.
wow that’s amazing — can you breakdown what you did over the years to accumulate this much?
I'd love to know as well
Bowl Leader
You’re in a great place to coast if your goal is CoastFIRE. Truthfully though, cost of living creep/inflation are only going to become more prevalent as you get older - so something to keep an eye on.
Not sure what your saving patterns look like today, but I’d say you’re probably safe only contributing to tax advantaged accounts going forward and living a little larger outside of that!
You’re in a fantastic spot for 29, half a million in retirement and another half outside is solid groundwork. Coasting might feel tempting, but keeping your contributions steady keeps that snowball growing faster and future-proofed. Maybe ease up a bit, but don’t hit cruise control yet; the magic really happens when you balance saving with smart investing and letting time do its thing.
the money isn’t as easy to make as 3-5 years ago, but with AI growing it’s still much easier than it will be in 3-5 more. push hard now while the getting is good as many of us have no choice but to coast when our consulting time is up and that might be coming faster than you think. 3-5 years more of saving and returns and you are at 1.5-2 mill which is a great place to be