You don't need $2.5 million to secure your financial future—at least, not yet. You just need a plan that creates options.
If you are a young adult (or a parent guiding one), the "Rule of 72" is your best friend. In this interview, Financial Planner Skyler Fleming @FPYApod breaks down exactly how to front-load your investments in your 20s so you can secure your retirement early using Coast FI.
But before we get to the math, we define what a Financial Plan actually is.
Many young adults avoid planning because they think it means "deprivation." We flip the script: A good plan is actually about having "more life." It creates the stability you need to change careers, travel, or pursue passions without stress. When you automate the serious stuff, you get to enjoy the rest of your money guilt-free.
In this conversation, we cover: • The Opportunity of Time: Why making small adjustments now (like $50/month) saves you from needing to save $5,000/month later. • Financial Planning 101: Why a plan isn't a constraint—it's the tool that gives you the option to say "yes" to more fun and less stress. • The Rule of 72: We break down the math of doubling your money. The magic isn't in the first double; it's in the "5th doubling" that happens if you start young. • Coast FIRE Mechanics: Skyler runs the numbers on how a 20-year-old with ~$139k invested is alreadyset for a traditional retirement at 65. • The "Anti-Budget" Approach: How to use technology (like Crew Checking or Monarch Money) to automate your "buckets."
Timestamps: 0:00 - Intro 1:44 - Why the industry ignores young adults (The AUM problem) 4:26 - The power of making small adjustments early 5:06 - The Rule of 72 (The math of doubling) 09:15 - What is a Financial Plan? (It's about "More Life") 12:05 - Keep it Simple: Cashflow & Automation 19:25 - The most important question: "What does money mean to you?" 27:47 - Coast FI Explained (The Game Changer) 31:46 - The Math: $139k vs $1.25M 37:30 - Action Step: Track expenses before you budget
