Scott Trench
speaker
696 appearances
1 recordings
1 series
first heard Sep 2025
last heard Sep 2025
Scott Trench’s voice in public audio — every appearance, attributed to the second.
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Appearances
Yes, it can apply to everybody, but it just says, use the rule of 72 and you compound money, you double money a couple of times.
You need a surprisingly small amount of money to set yourself up for traditional retirement.
So that could be like 300 grand.
for a 30-year-old, basically.
And it could be 150 grand for someone who's 23 to achieve a $2.5 million portfolio, give or take, if you assume anything close to historical rates of return.
I think that for some people, when you get started in the FIRE journey and you're like I was, one thing I didn't tell you is the company I worked for at the beginning of my journey was rated the worst company to work for in the United States of America.
Oh my God.
at that time.
So that was a huge advantage for me, right?
That's a really powerful motivator to retire early.
And people hate their jobs a lot of times in this country.
And that's a powerful motivation to get started on the journey to financial independence.
Powerful enough to get people to spend very little for a chunk of time.
But almost nobody who has a high savings rate is stuck
in that terrible environment for long periods of time, five, 10, 20 years.
You amass a million bucks in assets or several hundred thousand dollars in assets, and you're working a job you absolutely hate that also doesn't pay well, something's wrong, and that's a you problem.
You can fix that at that point in time.
And so, Coast Fire, I think, is a response to that dynamic, right?
I got started because I hated my job.
Now I'm worth three, five, $600,000 and I'll retire on time just fine.
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