Mile High FI Podcast Coast FI or Slow FI - Best Way to Retire Early - Kristen Knapp | MHFI 247
Doug chats with Kristen Knapp about the principles of Coast FI and Slow FI. Going beyond mere definitions they explore the benefits of these strategies, including reduced stress & greater life satisfaction, along with insights into working part-time, investing strategies, lifestyle design, unexpected life events, and the significance of intentional spending & saving. They also answer a couple related questions from the Facebook group.
Questions:
- Melanie – What’s the difference between SlowFI and just saving for retirement like a Regular Joe?
- David – I do have a question about Coast FI. When someone says they have saved enough to retire at a certain age in the future, does the sequence of returns risk from that moment hit them harder or softer? Retirees can reduce their spending to help themselves in the first few years of retirement if the market turns down. But if you’re drawing no money, I guess I don’t understand if that makes it safer or more risky.
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Links
(*Some affiliate links so we might earn a commission if you buy something)
- Connect with Kristen
- Kennel Enrichment Program (Humane Society)
- MHFI Facebook group
- EconoMe Conference
- CampFI
- Carl Jensen
- ChooseFI Local Groups
- Bill Perkins, “Die With Zero”
- JL Collins, “Simple Path to Wealth”
- Dave Ramsey, “The Total Money Makeover”
- Pete Adeney/Mr. Money Mustache
- Get Rich Slowly
- Doug’s site
- Check out Producer Chris’s new blog: Epic Financial Journey
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**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**
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Email the show: doug@milehighfi.com
0:00 Introduction
6:53 Defining Coast FI
12:42 Working vs. passion projects
18:42 Coast FI calculations
25:18 Limitations of Coast FI
34:04 Question – Slow FI vs. regular retirement savings
38:29 Question – Sequence of Returns Risk & Coast FI
47:21 Lifestyle upgrade vs. delaying FI
50:48 Advice to younger selves
57:56 Financial role models
1:04:11 Soundcheck – Testing hobbies