Why Are You Coasting to Financial Independence?
Coasting to financial independence can allow you to design a life you love, but it also comes with its challenges.
Others won’t understand the path you’ve chosen. You’ll question your decision to downshift. And you can feel a bit ‘out of the ordinary.’
But one of the best ways to overcome these challenges is to define and focus on your “why.”
Why have you chosen to coast to financial independence?
What will this decision allow you to do with your life?
What’s your goal with coasting?
For many, it’s all about spending more time with the people they love—whether that’s their friends, family, kids, or life partner. But others are more internally motivated—driven by a responsibility they feel to themselves to design and live a life they love. They know they deserve it, they can do it, and they are making their choices accordingly. Others are just straight-up burned out on the path to FIRE—tired of sacrificing so much today for the goal of financial independence in the future.
For me, I’ve decided that the biggest gift I have to give in this life is my time. And I want to give it generously to my wife, my daughter, my siblings, my parents, my in-laws, my friends—all the people I love and adore. I want them to know if they need me, I’m there for them.
And coasting makes that possible. Because I’ve decided to let compounding do the heavy lifting, I can take my foot off the gas, work to sustain my lifestyle, and free up massive time each week to do the things I want to do with the people I love the most.
And as a dad that has made all the difference.
I get to hang out with my kid for hours and hours every day. I get to see her at her highs and lows and be there as a companion on her journey through this beautiful life. And I love it.
So anytime I find myself questioning my decision to coast to financial independence, I remember, this gives me the ability to spend my time with the people I love. And that’s what it’s all about for me—that’s my gift to give.
What about you? Why are you coasting to financial independence or why are you interested in coasting?
And don’t forget—You’re Invited to a Coast FI Webinar this week!
If you’re interested and available, I’ll be co-hosting a webinar with Jess from the Fioneers on Thursday, November 17th at 7 pm ET.
We’ll be answering the question: am I still Coast FI even if the market is down?
This question has been coming up quite a bit—and it makes sense with markets down roughly 20% off all-time highs. I know it can be a bummer when you’re calculating your Coast FI number and you’re further away because markets are down. So, we’re going to hash it out and discuss what this market means for you and your coast FI plans.