Is $500k enough to Coast FIRE?

It depends on your age and what you’ll spend. Say you want to retire at 65 on $60,000 a year. At 7% growth, 3% inflation and a 4% withdrawal rate, your FIRE number is $1,500,000. The Coast FIRE number, what you need invested today for growth to get you there, is:

• At 30: about $395,000, so $500,000 is enough
• At 40: about $579,000
• At 50: about $847,000

At 45 you’d need about $700,000, so $500,000 falls about $200,000 short. On these assumptions, $500,000 covers a $60,000 plan up to age 36. If you’ll spend $40,000 a year, it covers you up to 46.

All of these are in today’s dollars and assume returns close to the past. Enter your own age, spending and balance in the Coast FIRE calculator.