Coasting to FIRE in the UK

The concept of coast FIRE is having the ability to cruise along until retirement date. Like riding a bike down a hill, there is no need to pedal. FIRE stands for financial independence retire early. Such that there is enough growth and income from one’s financial situation that there is no obligation to continue to work and retiring early is generally considered before access to pensions, so anytime before 55 would be considered early. For people in the UK this might mean having enough money in their pensions at age 40, that compound growth alone, when measured against historical averages, would see the sum rise to meet the costs of their desired lifestyle in retirement at a certain age e.g. 58. This assumes the funds are in a pension and pensions will be accessible at 58 for most people. However, retiring earlier is an option if other means were available. Working backwards, then, there are a few vehicles and wrappers that help. A Defined Benefit (DB) pension is a guaranteed annual…