Achieving Coast FIRE at a Young Age

On November 19, a courageous Singaporean woman shared on Reddit how she achieved Coast FIRE—short for Financial Independence, Retire Early—at the impressive age of 29.

The Journey Toward Financial Freedom

In her heartfelt post on the ‘SingaporeFI’ forum, she recounted her challenging journey toward financial freedom. Juggling a demanding career in the medical field, she frequently clocked in 40 to 60 hours a week, which took a toll on her work-life balance and emotional well-being.

Overcoming Health Challenges

Last year, her life took a daunting turn when she was diagnosed with cancer, subjecting her to significant emotional and financial burdens. However, she fought bravely and emerged victorious after recovering from her illness.

Financial Discipline and Investments

Her determination remained unwavering. Despite the obstacles, she meticulously managed her finances, making it a priority to save a portion of her salary and invest strategically in various assets like bonds and equities. Today, her hard work is paying off handsomely, as her investments now yield a sustainable monthly passive income of S$5,000—sufficient to cover her living expenses and provide her the freedom to shape her life as she wishes.

Liquid Portfolio and Insurance Benefits

Remarkably, her liquid portfolio totals around S$1.8 million; S$750,000 of this amount came from a critical illness insurance payout following her cancer diagnosis, which greatly aided her financial stability. She noted that since she has no dependents, life insurance is not a current priority for her.

Future Plans and Personal Growth

Her experience with cancer, albeit traumatic, equipped her with insights into healthcare costs, which she confidently navigates thanks to her professional background. Looking ahead, she plans to shift to part-time work, committing only 20 hours a week to her career, freeing up time to pursue personal interests like travel.

New Chapter and Hobbies

“This milestone is both terrifying and liberating,” she said. “I wanted to share it because it marks a new chapter in my life.”

Passions and Goals

In her future endeavors, the woman expressed enthusiasm about dedicating time to hobbies and self-improvement, which she previously had to set aside. She mentioned plans to learn new languages, starting with Spanish for practical reasons, while also exploring German and Japanese due to her interest in media.

Lifestyle Changes and Aspirations

Beyond languages, she hopes to delve into reading, gaming, practicing pilates or yoga, and reigniting her passion for writing. Additionally, she is focused on adopting a healthier lifestyle, seeking love at her own pace, staying in remission from cancer, possibly adopting pets, exploring painting, and even learning programming.

Community Support and Mixed Reactions

“I'm excited about what lies ahead, but I hope I don’t end up too bored with my semi-early retirement and feel tempted to return to work,” she shared with a hint of humor. Responses to her post were overwhelmingly supportive, with many Singaporean Redditors commending her resilience.

FIRE Movement Insights

For those interested in understanding the FIRE movement, Coast FIRE is a strategy that emphasizes aggressive saving and investment early in one’s career. By accumulating enough wealth early on, individuals can allow their savings and investments to grow passively, enabling them to scale back their work hours or transition to part-time jobs without jeopardizing their financial security.

Conclusion

As more individuals explore what it means to achieve financial independence in the modern world, stories like this remind us of the diverse paths to success—and the importance of tenacity even in the face of adversity.