Andy Hill is coasting.
The 44-year-old and his wife have built up a net worth north of $1 million, and for now, neither plans to add another dollar to their long-term investments. Instead, they’ll let their money to continue to grow, secure in the knowledge that they’ll have enough to retire by the time they get there.
The strategy is known as “Coast FIRE,” a variation on a movement short for “financial independence, retire early.” In the early days of FIRE, many of its adherents pursued a straightforward objective: sock enough money away in investments to be able to leave your job and live off of distributions from your portfolio indefinitely.
In 2016, shortly after Hill began a side gig hosting the “Marriage Kids and Money” podcast, he began to do exactly that, insisting that he and his wife save as much as they could in order to retire as quickly as possible. The resulting friction over money landed them in couples therapy, Hill says.
Hill emerged with a new outlook on managing money as a couple — a philosophy he shares in his new book, “Own Your Time: 10 Financial Steps to Put Your Family First and Escape the Corporate Grind.” The goal, he tells readers and clients of his financial coaching business, isn’t to get to the retirement finish line as soon as possible, but to secure your future while creating the freedom to spend on the things you value now.
