Elena Kodama plans to quit her software engineering job for a Coast FIRE lifestyle.
Coast FIRE allows part-time work and financial independence through strategic savings.
Kodama’s reselling business and YouTube channel generate income to support her retirement plan.
This as-told-to essay is based on a conversation with Elena Kodama, a 31-year-old software engineer in Cambridge, Massachusetts. It has been edited for length and clarity.
I started my career in 2017 as a contractor and software engineer.
I recently decided, at age 31, to soon quit my six-figure job as a software engineer to pursue a Coast FIRE lifestyle and spend more time with my family. I’m married and have two children.
Saving aggressively in my 20s is what will allow me to do this.
Coast FIRE is a version of financial independence combined with a retirement savings strategy. It’s about easing up, stepping away from high-pressure careers, and living on your terms. With this method, you continue working part-time at a job you love.
I first learned about it while attending the Rose-Hulman Institute of Technology. It’s essential to learn about personal finance early and start saving so you can benefit from compound interest when time is on your side.
Once I started working, I maxed out my Roth IRA and 401(k), saving about $100,000 in four years. Throughout my 20s, I saved and invested about $150,000 total.
With the power of compounding at a conservative 5% annual growth rate, I only need to contribute around $12,000 a year for the next 30 years to reach over $1.5 million in retirement funds and fully retire in my 60s.
In 2023, during my first 18-week maternity leave, I started a reselling side hustle, purchasing products on sale and selling them for a profit on Amazon. Finding the optimal product to sell is a lot of trial and error.
In the beginning, I went into stores to find profitable products. After weeks of market research, I learned that you can get 50% ROI on a specific brand of shoes. Based on that, I niched down product categories and brands.
Then, I would purchase sneakers online during sales and resell them on Amazon for full price. I use an app that provides data such as product sales estimates and the number of sellers.
I was privileged to have plenty of help with my newborn, including a work-from-home husband, parents, and in-laws who would switch off babysitting. This allowed me to invest enough time to master this new side hustle.
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