I think I am CoastFIRE?
I've always been frugal and focused on investing. And while the broad goal has always been to retire early, I really want the flexibility that comes with FIRE money. I've been thinking a lot about whether I've reached that state and, if not, how to know when I reach it. This felt like the right sub for this post.
M32, NW: $1.3M
Brokerage: 650k
Retirement: 500k
HSA: 32k
Crypto: 60k
Cash: 60k
Wife, NW: $330k
Brokerage: 125k
Retirement: 170k
HSA: 12k
Cash: 23k
Total NW: $1.6M
Couple things that come to mind:
Are we coast fire in the sense that we don't have to save for retirement at 60? Of course.
Are we coast fire in the sense that we don't have to work anymore? Hell no! We are renters. We'd like to own. The home we'd want would likely run us $600-750k. We also need a 2nd car (hence the higher cash levels), just had baby (& probably want a 2nd). And, we're moving from MCOL to HCOL in 2027.
So really, I'm trying to understand what this middle is called, whether we've reached a certain FIRE, and when to know we're officially on the other side. I have largely honed in on $2.5M NW as the crossover point (since I expect our spending to be around $100k/year with all the upcoming life changes).
Maybe my understanding of each different type of FIRE is lacking? Appreciate the insights!