The creator explains that at 29 years old with an $850k net worth, he has achieved "Coast FIRE." He defines the concept, calculates his traditional FIRE number of $1.5M, and explains how his heavy investment in Tesla stock is the key to reaching it. He then discusses the significant mindset shift this allows, moving from aggressive saving in his 20s to being able to enjoy his money in his 30s, before revealing at the very end that he still has significant margin debt to pay off.
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Spent most of my 20s building wealth, growing my career, and investing aggressively.
Now at 29 with an ~$850k net worth, I’m realizing I may have reached Coast FIRE.
I’m not done building — but for the first time, I feel like I can enjoy more of what I built.
My 20s were about setting up my future self.
My 30s can be about actually enjoying it.
Checkout link in bio for my budgeting spreadsheet, net worth calculator, and other tools I use
Coast FIRE graphic by @mckenzie.mack_
#FIRE #CoastFIRE #FinancialIndependence #NetWorth #investing
Transcript
I'm 29 with about an $850,000 net worse, and I just realized something kind of crazy. I've reached Worst FIRE. I never have to invest another dollar towards retirement again. Coast FIRE means you've already invested enough that even if you stop contributing completely, your investments can grow into your retirement number on their own. For me, I'm conservatively assuming spending 5 ks a month in retirement. That's 60 ks per year, which puts my traditional fire number at about 1,500,000 using the 4% rule. And because the majority of my net worth is invested in Tesla, how quickly I get there depends heavily on Tesla. Tesla just needs to roughly double from where we are today to about $684 a share for me to reach my 1,500,000 net worth. I still have to work to cover my current bills, but I don't have to contribute another dollar. I can actually spend and enjoy my money now. That mindset shift is huge. Basically, my entire tier was me speed running wealth building, advancing my career, increasing my income, saving and investing aggressively, living below my means, and just staying financially disciplined. Now for the first time, I feel like I've earned the privilege of allowing myself to enjoy my money. Guns, motorcycles, guitars, anime figures, tech, home renovations, travel, paper wall paddles, whatever I want. Now as I enter my tier, I get to enjoy it. After I pay off my margin debt.