Frances and Peter: Coast FI Case Study | MHFI 186

Doug and Carl talk to Frances and Peter about their finances. Topics include Coast FI, real estate investing, emergency funds, and civet coffee (google it, we dare you!).

Intro: A crazy purchase. Team Asparagus.

Coast FI

Should they invest in more real estate?

The great “paying off the house” debate rages on

Were they too Frugal?

Challenges

Frances and Peter’s numbers

The Ideal Life

Recommendations:

$125,000 in investments is a great start, but suggest getting that number bigger before coasting.

Since their income is good, consider a solo 410(k) to reduce taxable income.

Settle your house situation to get the money off the sidelines.

$40,000 is a lot to have in cash. Consider deploying some of that into investment accounts.

Don’t sacrifice happiness now. Live life, even if it takes a little longer to retire.

Listener Question: What did Doug and Carl get right? What did they get wrong? What advice would you give Frances and Peter?

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Links

Frances’ bookkeeping service

Coast FI with the FIoneers

Mile High FI on Youtube

Mile High FI Facebook Group

Support Mile High FI

Get a Mile High FI t-shirt

Doug’s site

Carl’s blog: 1500 Days

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**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**

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1500 Days, Carl's Blog about Early Retirement

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0:00 Introduction

1:27 Coffee & asparagus

7:57 Case study background

18:29 Housing Pt. 1

29:33 Frugal in recovery

35:57 Ideal $10MM life

46:30 The numbers

59:09 Housing Pt. 2

1:04:39 Final advice

1:11:57 Soundcheck - The big event