170- How to Coast to FI: The Slow, Intentional, and Balanced Approach to Reaching Financial Independence w/ The Fioneers
Journey To Launch
Jamila Souffrant
4.9 • 1.7K Ratings
🗓️ 26 August 2020
⏱️ 48 minutes
🧾️ Download transcript
Summary
Jessica and Corey are coasting their way to financial Independence (FI), and have found a way to create more time and freedom in their lives today. As a dual income household with no kids, they currently live in Boston, a high cost of living city. Also, known as the Fioneers, Jessica and Corey are showing people how to calculate their financial independence number and design a more balanced life before the traditional retirement age.
In this episode, Jessica and I talk about the different paths to financial freedom, how to determine your FI number, entrepreneurship, and more.
In this episode you will learn:
- What is Coast FI and how to start coasting now
- How much you need to retire early
- Ways to encourage your partner to join you on your financial journey
- Hacks to fast track your way to happiness
- 4 things to consider when designing your own life
- What is a location independent entrepreneur, and more
Other related blog posts/links mentioned in this episode:
- Check out the book Jessica mentions in her interview, Your Money or Your Life by Vicki Robin.
- Calculate your Coast FI number with this calculator and guide today! Plus check out some of the Fioneer's other blog posts:
- Why You Should Design Your Life Before Reaching FI - people can download the Coast FI calculator from this post
- FI Milestones that Actually Motivate - the Coast FI calculator is in this post as well, and this post describes how to use it.
- How I Went From Making $11,000 to Reaching Coast FI in 10 years
- Why I Accepted a Part-Time Job on My Path to FI
- Check out the other tools that help me with my finances and business here.
- Check out the Journey To Launch Podcast index here which categorizes all of the Journey To Launch podcast episodes by subject. Now you can binge on your favorite topics or type of episode.
- Join The Weekly Newsletter List
- Leave me a voicemail– Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
- Watch me on News12 Watch my latest segments on News12
- YNAB – Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 34 days trial of YNAB, my go-to budgeting app by using my referral link.
Connect with Jessica & Corey:
Connect with me:
Transcript
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| 0:00.0 | You're listening to the Journey to Launch Podcast, How to Coast to FI, the slow, intentional, and balanced approach to reaching financial independence. |
| 0:12.0 | T-minous 10 seconds. reaching financial independence. Welcome to the Journey to Launch Podcast with your host |
| 0:18.0 | Janila Sufrant as a money expert who walks her talk. |
| 0:22.0 | She helps brave journeyers like you, get out of debt, save, invest, and build real wealth. |
| 0:28.0 | Join her on the journey to launch to financial freedom in... |
| 0:32.0 | Five, four, three... journey to launch a financial freedom in five four three two one. |
| 0:37.0 | Hey hey hey journeys welcome welcome to the Journey to Launch Podcast. Every week, every |
| 0:47.0 | Wednesday I drop a brand new episode and as I am always excited I'm really excited to bring to you this content. |
| 0:55.5 | Now you know I'm always thinking about you, how I can make the concept of financial independence and freedom more accessible to everyone. |
| 1:04.7 | This moon goal, this moon goal that I call it, this big goal that we want to accomplish because if you're |
| 1:09.3 | listening to this podcast, that's probably what you want to do, right? Never work again ever a day in your life have enough money saved and invested but really it's about choosing what you want to do for work right who does not want that and then when you think about how much money you need to reach that goal, it can be overwhelming. |
| 1:28.0 | So I always try with the content with my guest to break it down in a way where you can say aha there it is I can do it you |
| 1:37.3 | know if this is achievable I can do this and so when I saw what this week's |
| 1:42.2 | guess what she was about what she was writing about online |
| 1:45.5 | through her blog, the Fireniers.com, I was really excited because she was talking about a concept of reaching |
| 1:51.1 | financial independence that, one, I'm actually doing myself and I don't call it the same name but I love how she has coined the term |
| 1:59.5 | Coast F I so how do you coast to financial independence how do you take a slow |
| 2:04.8 | intentional path to financial independence so maybe it's not that you reach it in |
| 2:09.3 | five years and you're doing all the sacrifices and all the things. |
| 2:13.0 | If you want to do that, that's fine. |
| 2:14.8 | But what about a more balanced approach |
| 2:17.0 | to reaching this big goal? |
... |
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