Heat a small saucepan over medium-low heat. Add in coconut oil, followed by cinnamon, turmeric, ashwagandha, ginger, nutmeg and a generous pinch of freshly ground black pepper. Whisk to combine all the ingredients, and allow to warm up for one minute.
Pour the milk into the saucepan and reduce heat to low. Cook, gently whisking to avoid lumps, until warmed through, about 5 minutes.
Add honey (if using), divide among two mugs and serve straight away.