Why do we work more than we have to?
CoastFI allows you to reclaim your time by working just enough to cover current living expenses.
One year ago, at the age of 29, I realized that my wife and I had enough money set aside for retirement to coast to financial independence. We could simply let it grow and compound in the background till age 65, without saving another dime, and have a cushy traditional retirement.
We had reached coast FI.
We suddenly could work just enough to cover living expenses. We saw this as an opportunity to regain control of our time. So we went all in.
My wife left her job to be a full-time stay-at-home mom, something she’s dreamt of doing for a long time. And I left my job as well, transitioning to work seasonally and flexibly as a tax preparer and freelance writer.
I can now work enough to cover our living expenses while maintaining a very flexible and open work schedule. We both feel that this was one of the best decisions we’ve ever made, but I can’t help but feel like we are a couple of rogue millennial non-conformists when we discuss our situation with others.
I was trying to explain to a family friend what we are choosing to do and he just couldn’t quite wrap his head around it. After a lot of back and forth where I reassured him multiple times, yes, I am working, but no, it is not full-time, etc., etc., the conversation essentially ended with him saying, “Hmmm, alright, well, as long as you’re taking care of your family...”
I know that seeking validation for others is a losing game, but more than anything, it got me wondering why more people don’t view work as something you do to provide the income you need, but not something you do above and beyond what you need.
As a dad and husband, I want to spend as much time as possible with my wife and daughter. I like the ability to eat three meals a day with them, go on long morning walks, put my daughter down for a nap, do some work, eat lunch together, play in the afternoon, maybe do a little more work, and prep and eat dinner together.
After living this way for a little over a year, I can’t imagine it any other way. But to the outside world, it seems people are having a tough time understanding why I am not putting in the standard (minimum) 40-hour workweek.
And I guess my answer is: why would I? With our retirement secure, once I have made enough money to cover our lifestyle, why would I not reclaim my time and give it back to my family, hobbies, and other creative pursuits? Who the hell decided we need to work so much?
Is it crazy to coast to financial independence, working flexibly while covering your lifestyle, or is it crazy to continue grinding once you’ve covered your bases?
I guess the answer, in the end, comes down to your unique view of the world and your priorities.
For me: Family > Work. I may never rise through the ranks and find myself at the top of a successful organization, but I know that I will develop and cultivate strong relationships with those that I love. I will always have the bandwidth and time for my family, above all else.
At the end of the day, as long as you are clear about your priorities and calibrate your life accordingly, who cares what everyone else thinks? It’s your beautiful life. So live it how you please.