Getting your 401(k) and other accounts fully funded early in life can allow you to 'coast' your way into retirement. But the strategy isn't for everyone. Presented by Fidelity.
What are the pros and cons of Coast FIRE?
Future returns are never guaranteed and slight changes can have dramatic impacts over 30 or 40 years. Not making contributions into pre-tax accounts like 401s or IRAs could subject your future income to a higher tax bracket. Coast FIRE isn't for everyone. Generally, it will work best for young adults who have plenty of time to benefit from compound interest, particularly young high earners.
Outside of these general profiles, anyone looking into Coast FIRE has to be very disciplined and comfortable with risk."Traditionally, as you approach retirement, you would take less risk," King says."With this approach, you would need to be very comfortable with higherYou should also be someone who is comfortable adjusting your retirement plans if necessary.
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