Can Coast FIRE Survive This Market Downturn?
Marriage Kids and Money: Personal Finance for Families
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Show Notes
Coast FIRE is when you've front-loaded enough investments to simply coast to retirement without any further contributions. But with this stock market downturn as of late, is the idea of Coast FIRE dead? We'll share how our portfolio is holding up and discuss what to do to keep our Coast FIRE dreams alive.
Second, we’re back with our Net Worth Win segment. This month, we’re featuring Michelle Onaka from Intentional Money Life. Michelle has grown her net worth to $900k by 37 years old. We’ll learn how she did it and how this helps her family travel more.
Last, my son Calvin will be reading the month's review and I’ll quiz him with some money questions. We're talking about recessions, investing, and going on our first cruise!
EPISODE RESOURCES:
- Michelle Onaka (website): https://Intentionalmoneylife.com
CHAPTERS
00:00 - Intro
01:30 - Coast FIRE Amid Market Turmoil
02:46 - Revisiting 2021 Coast FIRE Numbers
04:17 - Impact of Market Downturn on Retirement Outlook
05:03 - 6 Ways We're Keeping Coast FIRE Alive
11:46 - Interview: Michelle Onaka’s $900K Net Worth Journey
13:19 - Motivation Behind Michelle’s Wealth Building
15:55 - From Low Income to Six Figures
18:16 - Smart Saving and Investing Habits
20:18 - What’s in Michelle’s $1M+ Asset Portfolio
22:37 - Liabilities and Mortgage Strategy
23:58 - Teaching Kids About Generational Wealth
25:51 - Why Their Kids’ Accounts Are in Their Names
27:36 - The Future: More Travel, Less Work
29:30 - How to Connect with Michelle Onaka
33:31 - Calvin’s 3-Question Money Quiz
37:17 - Social Shout-Out & Book Giveaway
38:10 - Final Thoughts
MKM RESOURCES:
- MKM Coaching: Want 1-on-1 support with your family finance journey? Book a time with me today.
- Make My Kid a Millionaire Course: Want to build generational wealth and happiness for your kid? Learn more about my course!
- Coast FIRE Calculator: A free calculator to help you find out when you can slow down or stop investing for retirement.
- Mortgage Payoff Calculator: A free calculator to help you see how fast you can become mortgage free.
- YouTube: Subscribe for free to watch videos of these episodes and interviews.
RECOMMENDED RESOURCES (SPONSORS AND AFFILIATES):
- Monarch Money - Best Budget App for Families & Couples
- Empower - Free Portfolio Tracker
- Crew - HYSA Banking Built for Families - Get an Extra 0.5% APY with my partner link
- Ethos - Affordable Term Life Insurance
- Trust & Will - Convenient Estate Planning
HOW WE MAKE MONEY + DISCLAIMER:
- This show may contain affiliate links or links from our advertisers where we earn a commission, direct payment or products.
- Opinions are the creators alone.
- Information shared on this podcast is for entertainment purposes only and should not be considered as professional advice.
- Marriage Kids and Money (www.marriagekidsandmoney.com) is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.
CREDITS:
- Podcast Artwork: Liz Theresa
- Editor: Johnny Sohl
- Podcast Support: Nev Maraj
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