BiggerPockets Money Podcast Summary

Episode Title: How Regular People Can Achieve Coast FI in Their 30s
Release Date: August 8, 2025
Hosts: Mindy Jensen and Scott Trench
Guests: Jess and Corey, creators of the Coast FI calculator

Introduction

In this enlightening episode of the BiggerPockets Money Podcast, hosts Mindy Jensen and Scott Trench welcome back Jess and Corey, the innovative couple behind the renowned Coast FI calculator. The discussion centers around their journey to achieving Coast Financial Independence (Coast FI) in their early 30s, the pivotal moments that led them there, and the strategic decisions that shaped their financial freedom.

Defining Coast FI

Scott Trench initiates the conversation by seeking clarity on Coast FI for listeners who might have missed the previous episode.

Corey: “As we think about Coast FI, we like to think of it as both a financial milestone and a lifestyle. So as a financial milestone, it's the point where you've saved and invested enough money that you no longer need to contribute another dollar towards your retirement. The amount that you've already saved and invested will grow to fully fund your retirement. And so while you think of full financial independence as the point where work is optional, at Coast FI, savings is optional. The name Coast FI typically comes from this idea that you're coasting to full financial independence by reducing or stopping altogether your savings.”
[Timestamp: 01:04]

Jess and Corey's Financial Journey

Pre-Coast FI Lifestyle and Financial Position

Jess: “We were pursuing full financial independence and retire early because he had followed the FIRE movement and Mr. Money Mustache and sort of came to me on an annual basis and said, hey, let's just say 5% more. I would say, okay, I would rather travel, but if we can travel and we can save more, we'll do this...”
[Timestamp: 01:50]

Starting with a combined income of around $30,000, Jess and Corey were intensely focused on climbing the corporate ladder to increase their earnings. Over time, their dedication led to significant income growth and increased savings, alongside a slight inflation of their lifestyle expenses.

Corey: “In 2018, when we reached this inflection point, we had about half of our net worth in retirement accounts, a significant portion in real estate, and about $60,000 in cash.”
[Timestamp: 06:21]

Inflection Point: Mental Health Crisis

A dramatic turning point occurred when Jess experienced a severe mental health crisis, leading to six months off work. This crisis forced the couple to reevaluate their path to financial independence.

Jess: “I had a mental health crisis and ended up with severe burnout, severe anxiety that had been building over a period of time and needed to take six months completely off of work. And so for us, that threw a wrench into things...”
[Timestamp: 04:23]

This situation prompted them to explore alternatives to their original FIRE (Financial Independence, Retire Early) plan, ultimately steering them towards the Coast FI strategy.

Transition to Coast FI

Faced with the necessity to adjust their financial goals, Jess and Corey delved into the concept of Coast FI. This approach allowed them to retain financial momentum while alleviating the pressure to continue aggressive savings.

Jess: “Our Coast FI journey has been one of many small incremental steps to kind of reassure ourselves and mitigate the risk that we saw.”
[Timestamp: 21:37]

Achieving Coast FI: Changes in Lifestyle and Career

Shifting to Part-Time Work

To better manage her mental health, Jess transitioned from a full-time job to a part-time position, significantly reducing her work hours and commuting time.

Jess: “I was working about 50 hours a week and commuting for an hour and a half every day and it was incredibly stressful. And when I took the part-time job, I was working 24 hours a week, no more. I was commuting 20 minutes each way...”
[Timestamp: 12:41]

This shift not only improved her quality of life but also maintained their Coast FI status by continuing to save adequately despite reduced income.

Financial Strategies Post-Coast FI

Even after achieving Coast FI, Jess and Corey chose to continue contributing to their retirement accounts. This decision was driven by their high disposable income and a desire to build an extra financial cushion.

Corey: “We were still contributing... it was a combination of having disposable income at the time, enjoying work, and the motivation of a scarcity mindset to have an extra cushion.”
[Timestamp: 15:36]

Over time, as their expenses naturally decreased due to lifestyle changes, their savings rate adjusted accordingly without compromising their financial goals.

Lifestyle Changes and Entrepreneurial Ventures

Embracing their newfound flexibility, Jess and Corey embarked on entrepreneurial pursuits, including starting a coaching business and experimenting with a camper van lifestyle. These ventures not only diversified their income streams but also enriched their personal lives.

Jess: “I started doing the Design a Life You Love group coaching programs... doing things that I love to do, which was the best part.”
[Timestamp: 28:56]

By 2023, they fully transitioned away from traditional retirement savings, leveraging their Coast FI status to focus on personal and professional fulfillment.

Insights and Observations

Scott Trench highlights several key takeaways from Jess and Corey's journey:

1. Savings Rate Importance: Maintaining a high savings rate enabled them to reach Coast FI without drastic lifestyle sacrifices.

2. Flexibility and Optionality: Achieving Coast FI provided them the freedom to pivot careers and pursue meaningful work without financial constraints.

3. Wealth Creation Process: Wealth building is both a gradual process and a pivotal moment, allowing for strategic flexibility within a couple’s financial planning.

Applicability of Coast FI Across Ages

While Scott suggests that Coast FI is primarily accessible to younger individuals due to the benefits of compounding, Corey and Jess argue that it's achievable at older ages as well, provided there’s sufficient financial planning and flexibility.

Corey: “I've seen people in their 50s reach Coast FI and still experience that transformational moment...”
[Timestamp: 37:03]

Mindy Jensen adds that Coast FI offers hope and strategic opportunities for financial adjustment at any age, making it a versatile milestone in various financial journeys.

Jess and Corey's Future Plans

Looking ahead, Jess and Corey are excited to expand their influence by organizing SLOFI (Slow Financial Independence) retreats, where enthusiasts can learn and apply principles of financial freedom while designing fulfilling lives.

Jess: “We are really excited to be running our third SLOFI retreat, headed out to Lake Tahoe with 45 other SloFi Coast Fi enthusiasts...”
[Timestamp: 41:56]

Conclusion

This episode of the BiggerPockets Money Podcast offers a comprehensive exploration of Coast FI through Jess and Corey's personal experiences. Their journey underscores the importance of flexibility, strategic savings, and the willingness to pivot in pursuit of financial and personal well-being. By sharing their story, they provide invaluable insights for listeners aiming to achieve financial independence without compromising their quality of life.

Notable Quotes:

• Corey: “Our Coast FI journey has been one of many small incremental steps to kind of reassure ourselves and mitigate the risk that we saw.”
  [Timestamp: 21:37]

• Jess: “I could completely quit this job if I wanted to, or I could take a leave of absence...”
  [Timestamp: 06:46]

• Scott Trench: “Wealth creation...it's actually a very good strategy for one spouse in a married couple to work an income while the other works on a business...”
  [Timestamp: 19:32]

This detailed summary captures the essence of Jess and Corey's journey to Coast FI, offering listeners a roadmap to balance financial independence with personal well-being.