CoastFIRE: How to Mentally Shift from Saving to Coasting
One of the hardest parts of switching to CoastFIRE is switchinging your mentality. Usually someone who reaches a spot were they can legimitaly Coast are a super saver. A super saver being someone who is saving 30% or more of their paychecks or more. Making this switch can be incredibly difficult because usually this lifestyle is engrained in you, you are already pretty frugal and you love to see your bank account balances go up.
Trusting the process, trusting your knowledge, and trusting that markets will continue to make historical averages can be incredibly difficult. If you are someone seriously considering CoastFIRE though you are probably either tired of your career or you know that life is for living. Trusting all these things can be incredibly difficult but necessary. If we are going to give ourselves the freedom to enjoy life and not worry about every dollar and cent.
The first step in reaching CoastFIRE is finding the confidence and trust that things are going to workout. There are a few things that you can do to make this easier.
Bolster your accounts
So you reached CoastFIRE, I assume you have an amazing savings rate then. Okay, work another 6 months and bolster your accounts so their is room for things to go slightly south. Give yourself more cash and keep adding to your roth and 401k. It makes the math make more sense.
Start searching for a Coast job
What interests you? For me my Coast jobs were things that I think I could be passionate about such as, baking, teaching, wood working, bicycle shop, gardening. Find reddit threads about the work, the pay, the lifestyle. Maybe as a baker you do not want to wake up at 4am everyday. Fair enough. Maybe its worth it though if you actually have a job you give a shit about.
Start slowly enjoying your money again
Take that trip. Buy that Le Creuset pan you've been eyeing. Enjoy the money you've earned. After all you've earned it. Maybe don't open the tap to full power but come on open it a little bit. Go on that trek through the cotswalds, buy that bike, go motorcycle camping. Life is for living not retiring.
At somepoint though none of this is enough. Trust me I did all of them. At somepoint you need to make the jump, there is no other option. You either live the same life you lived this whole time or you trust yourself to find a way to make it work. You might have to be a little scrappy, you might need to forego some luxuries but if you truly want a different life these are small things. There are people out there doing what you are doing without nearly the same amount of safety net. You must remember this, you have a safety net and you will always have house over your head. You are fortunate.