Q4/2023 Update – Coasting to Financial Independence

I know it’s been a while – and that I skipped an update – but here it is: our Q4/2023 Semi-FI update.

These (usually) quarterly updates track our Coast FI journey from Flamingo FI to full Financial Independence.

This will be a short and sharp update – I wanted to get this out there before it’s time for the next quarterly update. Done is sometimes better than perfect. 😉

Many readers have reached out over the last few months to check in and ask about what we are up to. I will cover the “life update” part in another post at some point, but for now, here is our latest FI and net worth update:

Financial Independence

Things have been heading in the right direction since I posted the last update in July. At the end of December 2023, our FIRE portfolio sat at 22.3x annual expenses (up from 21.5x). This means we are now 89.2% of the way to Financial Independence.

I have to admit I have paid close to zero attention to our portfolio in the last 6-9 months, so it is nice to see that the snowball keeps growing while we are busy doing other things.

When we hit Flamingo FI in 2020, we assumed that it would take 10-15 years to get from there to full FI without adding any more money to our investments. At this point, it looks like we might get there by the end of 2025 (based on our growth assumptions). But anything can happen, so let’s see.

At this point it is pretty clear that all of these numbers in the spreadsheet are just that – numbers in a spreadsheet – and won’t actually make any meaningful difference to how we live our life once we get to the FIRE line in the chart above. But it’s still nice to see things moving up gradually. 🙂

Total Net Worth

Our overall net worth position increased from 26.6x annual expenses to 27.5x. This number includes our FI portfolio and all other assets we own outside of the portfolio (like cash, home equity, etc.).

And that’s it for our latest update. I will try not to let 6+ months pass before I post the next one. 🙂 Thanks for reading!

 
Semi-FI Calculator
2023 Update
Coast FI, Flamingo FI & FIRE
Sign up to receive the calculator via email.
Thank you for subscribing!

3 thoughts on “Q4/2023 Update – Coasting to Financial Independence”

    • Because you can’t draw down from your Home to fund your lifestyle… Try Selling a bedroom to pay the bills. PPOR (Principal Place of Residence) is good in a Net Worth Number as one day you may well downsize and get access to some of that equity but for purely FIRE reasons you want only to count income-producing or liquid assets

      Reply
  1. That’s incredible progress after you hit your Flamingo FI number – you’ve essentially cut the time in half, from about 10 years to less than 5 years! I find these posts personally very inspiring and motivating given we’re only just starting our journey towards CoastFI/BabyFIRE (before aiming for FlamingoFI and FIRE).

    To clarify, are you putting any additional investments into your FIRE Portfolio? Or is that growth purely from the bull run we’ve been on post-COVID?

    P.S. I unfortunately found you after you removed your Project 1000 series. If you have them archived somewhere, please reach out and I’d love to access/read them for how you go there

    Reply

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.