SINGAPORE: In a remarkable feat of financial planning and resilience, a 29-year-old Singaporean woman has announced her achievement of Coast FIRE (Financial Independence, Retire Early) on social media this past Tuesday (Nov 19).

Sharing her story on the ‘SingaporeFI’ subreddit, she detailed the hurdles she faced on her path to financial independence, including a demanding career in the medical field where her work week often extended to between 40 and 60 hours. This rigour was compounded by a personal health crisis; she was diagnosed with cancer last year, which added both emotional and financial strain to her life. Fortunately, she has successfully navigated her recovery.

Determined not to let adversity hold her back, she set her sights firmly on achieving her financial goals. Through stringent budgeting and diligent savings from her salary post-recovery, she strategically invested across diverse assets, including bonds and equities.

Today, her disciplined efforts have proven fruitful—the passive income generated from her investments now amounts to around S$5,000 per month, granting her the flexibility to live life on her own terms. Her liquid investment portfolio has reached approximately S$1.8 million, which notably includes S$750,000 from a critical illness insurance payout she received after her cancer diagnosis.

With no dependents to consider, she expressed that life insurance is not currently necessary for her. She shared insights on the healthcare costs she anticipates, supported by her professional background, indicating that she feels prepared to manage potential future medical expenses.

Looking ahead, the woman plans to transition to a part-time work arrangement, working only 20 hours a week. This change will free up her schedule, allowing her to engage in long-desired pursuits such as traveling and new hobbies. “It feels fantastic to be finally free,” she declared, adding that while she experiences some trepidation about this new phase, it’s a milestone worth celebrating.

She has aspirations to learn new languages—Spanish, German, and Japanese topping her list—as well as delving into activities like reading, gaming, and exercising through pilates or yoga. She also wishes to reconnect with her passion for writing and adopt a healthier lifestyle.

“I keep my fingers crossed that I won’t get too bored of semi-early retirement and seek out work again,” she humorously admitted, aspiring to pass on her experiences to future generations, believing in the importance of learning from successful individuals.

Her post has garnered significant attention and praise within the online community. Many fellow Reddit users applauded her tenacity and the positive choices she made. One commenter noted, “At 29, you have a wealth of adventures ahead! Enjoy the time to recover and grow.”

However, not all feedback was overwhelmingly positive. A few commenters expressed skepticism about her motivations for sharing her story, suggesting it felt more like a “flex” than a genuine account of her journey.

So, what exactly is Coast FIRE? According to financial experts, it involves aggressively saving and investing early in one’s career. The idea is to accumulate a significant nest egg that can grow over time with minimal effort, enabling individuals to reduce their working hours as they near retirement without sacrificing their financial stability.

As conversations about achieving financial independence and early retirement gain traction, this Singaporean woman's story serves as a beacon of hope and inspiration to many pursuing their FIRE goals.

Could you be the next person to achieve financial independence before 30? This woman's story is a reminder that with the right strategies and perseverance, it is indeed possible!