I’ve officially hit the Coast FIRE milestone!
Which means that if I wanted to start using all of my money right now rather than investing, I could. I could stop contributing to ALL of my retirement accounts and investment accounts and just coast all the way to retirement.
Upon my arrival at 65, I would be greeted with about 3 million dollars if my investments were to grow 10% per year. (That’s about the average growth of the S&P 500 since it’s inception.) Woah…
I, however, will not be doing that. I don’t want to work until I’m 65…get outta here with that nonsense!
I did the math to see if perhaps I could coast to a younger retirement. If I were to coast to 55 I would have over a million dollars so I would definitely be able to support a decent retirement, and early to boot.
I want earlier though…
My goal is 45.
I don’t have enough to coast to 45, so I’ll continue working hard and investing as much as possible!
My roommate is moving out at the end of this month. I thought I would just live alone for a while since I can afford it….but…then I think: I don’t wanna work!
If I don’t wanna work…then I gotta work hard now. (And live below my means!)
So, I’ll be looking for a roommate soon. I figure I’ll invest half of the rent and I’ll travel more with the other half, that way I have the best of both worlds.
I can’t be expected to deprive myself along the way! What kind of fun would that be?!
I’m really truly happy with my accomplishments so far though.
I think I need to stress that, because I don’t want to get to caught up on the 45 number that I lose my happiness and also very importantly: my gratitude.
Even if tomorrow I had to stop contributing: I could still retire early. So I’m thankful that I’ve been able to do so much thus far.
I really want to drive that home because we never know what can happen and if I suddenly had to spend all of my monthly income, through no fault of my own, I know that I would still end up ok. (I’d have to work for 18 more years, rather than 8…eeek!) But I could still do it and I would be fine.
Even if I suddenly got so sick of work that I didn’t want to work 40 hours a week, I could simply get a part time job just to pay my bills and know that I would retire early at 55 anyway.
I feel immensely happy that I have that flexibility!
If I choose to quit and wander about for a while: I’ll be fine!
If I choose to take a low paying job because it makes me happy: I’ll be fine!
If I choose to work part time because I’m just burned out and need rest: I’ll be fine!
If I need to help my family and can no longer invest: I’ll be fine!
If I want to live alone and contribute what I can without feeling like I have to reach the 45 goal: I’ll be great, since I’ll likely retire prior to 55 anyway!
This, this feeling of freedom is exactly what I’m chasing through Financial Independence.
I want everyone to have this feeling!
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