Coast FI Masterclass | The Fioneers | Episode 538

Brad dives into a CoastFI MasterClass with Jess, and Corey from The Fioneers

—where saving for retirement becomes optional. ??

Jess and Corey, popularizers of the term, share their unique journey transitioning from high savings rates to a fulfilling CoastFI lifestyle. They explore vital themes like financial flexibility, the psychological aspects of money fears, and how experimentation in spending can lead to empowered financial outcomes.

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00:02:28 Defining CoastFI

• CoastFI is described as a financial milestone where saving and investing for retirement becomes optional.
• Discussion of how this concept allows individuals more flexibility in their financial journey.

00:07:11 The Realization of CoastFI

• Jess and Corey share their personal journey to reaching CoastFI at the age of 31, needing around $245,000 to retire by 62.
• The importance of time horizon in achieving financial goals through compounding.

00:21:38 Transitioning to a CoastFI Lifestyle

• Exploration of how their focus shifted from aggressive saving to experimenting with spending for meaningful experiences.

00:23:47 Experiments with Spending & Money Management

• Jess emphasizes the value of testing different spending patterns, such as renting before big purchases and embracing travel rewards instead of convenience spending.

00:48:09 Overcoming Money Fears Together

• Jess and Corey discuss how money fears can resurface, how they navigate these fears together, and the importance of open dialogue and regular financial check-ins.

00:57:31 Conclusion

• Reflection on their journey and the broader implications of personal finance choices in achieving a fulfilling life experience.

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Timestamps and Key Insights

• 00:02:33 Quote: "Achieve freedom with CoastFI - where saving becomes optional!" – Jess

• 00:04:13 Actionable Takeaway: Calculate your CoastFI number using a CoastFI calculator.

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