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Abstract

iv><h2 id="d3f6">I’m a big proponent for Coast FIRE.</h2><p id="ee4c">It’s reasonable for us in the middle-class to live an alternative lifestyle, without having to save 80% of our income and suffer for years of extreme minimalism to end up working anyway because you get bored (aka full FIRE).</p><p id="92bb">My plan is named “Room & Board Retirement” as it clearly explains life after I reach my Coast FIRE number — in two years and two months.</p><p id="9411">Once I reach my number I will only have to cover my room and board costs — living, eating, traveling, and fun.</p><p id="a120">No more maxing out my 401k, setting aside additional monthly savings, or adding my bonuses to retirement funds.</p><p id="c192">I can make a lot less in monthly income to live a similar life that I’m living now — I didn’t give up any fun or travel in my Coast FIRE plan…I probably just increased it!</p><h2 id="5d5b">Why Coast FIRE Works for Me?</h2><p id="1f79">I wasn’t born into money. My first full-time job (while still getting my degree full-time) was making $24,000 a year.</p><p id="f949">I knew I wanted to make more, but I’m probably capped out at$ 150,000 at this point — mostly because I don’t want more responsibilities or growth within the corporate 9–5 hamster wheel.</p><p id="b004">I am married, but we don’t have kids. We plan to use everything we’ve put away…and the rest goes to whomever takes our dog when we pass away.</p><p id="7483">

Options

I’m sharing this to explain that I appreciate having money, I like to live now as well as plan on the future, and I am trying to remove the golden handcuffs by defining a number that’s good enough to enjoy life.</p><h2 id="29fd">I found the FIRE Movement a decade or so ago.</h2><p id="fbfa">I followed Mr. Money Mustache and Get Rich Slowly. I read Your Money or Your Life.</p><p id="4912" type="7">I learned that there’s alternative ways to live!</p><p id="fc7d">I really had no idea, as my entire family worked 9–5s for 40 years. I wasn’t taught anything else.</p><p id="0e39">Since then I’ve paid off my debt (~$40,000), saved for and experienced a gap year in my mid-30s, and recently created a 5-year plan to reach Coast FIRE.</p><h2 id="3c5e">Almost 3 years into my plan and it’s getting real.</h2><p id="d4e1">I’m starting to dream of the possibilities:</p><ul><li>Continue 9–5 for another gap year.</li><li>Teach English overseas while exploring a new country.</li><li>Work remotely for a nonprofit where I can use my experience for a smaller paycheck.</li><li>Create a small business that I can take with me around the world — freedom of my time, money, and life.</li></ul><p id="0d9d">Regardless of what I decide to do, I know Room & Board Retirement is the perfect plan for me and I’m excited for the adventure.</p><p id="18d9"><b>Have you heard of the FIRE Movement? Are there any variants that you’re chasing?</b></p></article></body>

Coast FIRE — Room & Board Retirement is My Perfect Financial Plan

I was not born rich and I will not die rich. But I will live fully in between.

The perfect retirement view. Photo by Jeremy Bishop on Unsplash

I’m not going to go into all the details of Coast FIRE in this article, but if you’re not familiar with the FIRE (Financial Independence, Retire Early) Movement or the variant Coast FIRE, then here is an article to get you started.

What Is Coast FIRE?

Coast FIRE is a strategy that involves saving enough to generate sufficient future retirement income, then working to…

time.com

I’m a big proponent for Coast FIRE.

It’s reasonable for us in the middle-class to live an alternative lifestyle, without having to save 80% of our income and suffer for years of extreme minimalism to end up working anyway because you get bored (aka full FIRE).

My plan is named “Room & Board Retirement” as it clearly explains life after I reach my Coast FIRE number — in two years and two months.

Once I reach my number I will only have to cover my room and board costs — living, eating, traveling, and fun.

No more maxing out my 401k, setting aside additional monthly savings, or adding my bonuses to retirement funds.

I can make a lot less in monthly income to live a similar life that I’m living now — I didn’t give up any fun or travel in my Coast FIRE plan…I probably just increased it!

Why Coast FIRE Works for Me?

I wasn’t born into money. My first full-time job (while still getting my degree full-time) was making $24,000 a year.

I knew I wanted to make more, but I’m probably capped out at $150,000 at this point — mostly because I don’t want more responsibilities or growth within the corporate 9–5 hamster wheel.

I am married, but we don’t have kids. We plan to use everything we’ve put away…and the rest goes to whomever takes our dog when we pass away.

I found the FIRE Movement a decade or so ago.

I followed Mr. Money Mustache and Get Rich Slowly. I read Your Money or Your Life.

I learned that there’s alternative ways to live!

I really had no idea, as my entire family worked 9–5s for 40 years. I wasn’t taught anything else.

Since then I’ve paid off my debt (~$40,000), saved for and experienced a gap year in my mid-30s, and recently created a 5-year plan to reach Coast FIRE.

Almost 3 years into my plan and it’s getting real.

I’m starting to dream of the possibilities:

Continue 9–5 for another gap year.
Teach English overseas while exploring a new country.
Work remotely for a nonprofit where I can use my experience for a smaller paycheck.
Create a small business that I can take with me around the world — freedom of my time, money, and life.

Regardless of what I decide to do, I know Room & Board Retirement is the perfect plan for me and I’m excited for the adventure.

Have you heard of the FIRE Movement? Are there any variants that you’re chasing?