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Early 30s, Female, Texas. Indian Ethnicity. HMU!
Additional Posts in FIRE Financial Independence Retire Early
Decided to payoff my mortgage.
I am 38 and only have 200k in 401k. I started late and made some bad investments and lost about 150k in options in 2021.Is there any hope left for me for FIRE? Now I am doing DCA to VTSAX but markets seem all time high. Looking to buy investment property but feels like I am buying on top of the cycle. Any suggestions on path forward?
Ally or Marcus? What’s best for HYSA?
Coach
Anyone follow Millennial Revolution?
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At Coastfire now. SO may downshift to an easier job with fewer hours in the next year or two. We’ve been saving 100k + each year the past few years and hopefully could afford to chill a bit in the coming years
31 here.
and can someone describe to me what coastfire is? how diff is this from leanfire
CoastFIRE is when you no long have to save to hit your target retirement income at your target retirement age - aka: only have to bankroll your current lifestyle and can spend 100% of take home (mathematically, prolly not realistic behavior). You cannot touch your retirement funds as compounding needs to do its thing
LeanFIRE: similar thought process but life isn’t as cushy. Think living off of 40k in retirement vs 120k (potentially CoastFIRE)
Health insurance is a huge driver for having to stay on. Be selective about your work and draw your boundaries. I’m still in consulting because the work is still meaningful and fun,albeit not every day, but more often than not.
I’m aggressively investing for the first ~7 years to build up a solid foundation and then I plan to pivot careers to something I can actually tolerate that earns a modest living.
Maybe building a business, maybe a career change. Maybe consulting or working part time in private industry (accounting).
Personally, an immediate FIRE at a certain age is very unappealing to me for two reasons.
1) I would likely be bored upon retiring and need something to fill my time.
2) I don’t want to pinch pennies to retire at 37 as opposed to 45, etc. I save ~40% of my income without too much thought and max my 401k, IRA, HSA, etc. I don’t want to be miserable in my 20s to trim a few years off my FIRE date.
Ultimately want to invest heavily while I’ll get the strongest ROI (early on) and then find a job I can actually tolerate, or just reduce working hours in a few years.
My plan is to build my hobby into my second source of income over the next 5 years; then transition my FT job into PT and invest more time on my hobby. Depends on how that goes, I may keep doing that or quit my PT job once my second source of income can support Coast FIRE goal. Just thinking about my current job will be PT 5 years from now gives me so much hope😭
Drawing/painting. I always dreamed of becoming an illustrator and can finally pursue that after learnt about CoastFIRE.
I also just recently learned about it and want to make a plan!
F
Coach
Also interested
i’d work part time that offers health insurance, and not be constrained to work from the office/shop all the time.
Work part time or in a low stress corporate job
I'm fine with my current role now. Currently 32. Crypto gains might push much closer to coast assuming a black swan event doesn't wipe it all out. I do plan to sell about 25% of my portfolio which will be a permanent addition to my nest egg that will converted to a less risky investment, suitable for early retirement.
My plan is stay a my company at least 2 more years (would get 401K match by then), and reassess my life and direction from there. Global warming is certainly going to make an impact on my plans it's something that everyone should be thinking about because everything from this point is significantly down hill from here so we have to adapt and manage.