Author Topic: pre-FIRE checklist  (Read 41900 times)


  • 5 O'Clock Shadow
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Re: pre-FIRE checklist
« Reply #50 on: February 07, 2017, 06:54:31 PM »
Hi, I just wanted to post a mea-culpa to this post about paying extra state tax.  I got nailed with alternative minimum tax to the point that it didn't even pay to itemize.  Really shot myself in the foot.  DONT DO THIS!

With This Herring

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Re: pre-FIRE checklist
« Reply #51 on: February 17, 2017, 07:35:53 PM »
Inspired by this post regarding losing FSA money, make sure you have a plan to use up the remaining balance in your FSA BEFORE you leave your job.
Go soak your beans.  You know you keep forgetting.


  • Handlebar Stache
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Re: pre-FIRE checklist
« Reply #52 on: February 21, 2017, 07:18:49 AM »
Your company (usually big companies) have a contract with Microsoft for their software. Employees can buy Microsoft product thru a "Home Use Program"

A full version of office is just $9.95. There are limits, 1 every year or so.

So, get your software before you FIRE!


  • 5 O'Clock Shadow
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Re: pre-FIRE checklist
« Reply #53 on: April 09, 2017, 03:06:42 AM »
This great, obviously some practical differences between countries, but I think the mental health aspects are so important.  We're not even there yet, and I  find myself second guessing and worrying about motives/selfishness/that I'll be lazy and unproductive. The psychology is fascinating!
Finding our way back to our natural frugal state, after years in the wilderness

Journal at -


  • Bristles
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Re: pre-FIRE checklist
« Reply #54 on: May 15, 2017, 08:00:53 AM »
Thanks for compiling all this - I'm finding it helpful!


  • 5 O'Clock Shadow
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Re: pre-FIRE checklist
« Reply #55 on: May 15, 2017, 04:26:02 PM »
Wow, that seems overwhelming to me! I really didn't do any of this and survived - and thrived!
"All we have to decide is what to do with the time that is given us.” -- Gandalf


  • Magnum Stache
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Re: pre-FIRE checklist
« Reply #56 on: June 25, 2017, 01:20:54 AM »
Great list!  Thank you for compiling.  I would add:

Implement Income Stream.  Set dividends and capital gains from taxable account to automatically transfer to bank account. 

Oooh!.. I was just thinking about this today in fact.

Here in Oregon we get taxed on all after tax dividends as regular income, no matter if they are Qdivs or not.

As our rental income + this after tax dividend income (which is less than our annual spend)  is subject to State income tax we might as well have this dividend income piped directly to our bank accounts.


  • Stubble
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Re: pre-FIRE checklist
« Reply #57 on: July 10, 2017, 01:38:27 PM »
Damn this is a helpful thread. Thank you to all who have contributed.


  • Handlebar Stache
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Re: pre-FIRE checklist
« Reply #58 on: July 10, 2017, 02:17:23 PM »
Could I ask why you would do this, I'm not extremely familiar with HELOC's but trying to learn the benefits (and any drawbacks) that might apply from this tactic. Thanks!

Just to be clear - what you want to do is set up a HELOC so that you can draw on it in case of emergency, you don't want to actually have a big new loan.  The way mine worked, I got a credit line of $60k but just borrowed 5k.  The rest is still available now even though I retired a couple years ago.

To add here, if you don't own a home you may still want the flexibility of an unsecured line of credit. I'm planning to FIRE in August and got one for 90k. Sure the interest is high (~11%), but it is only to be used in emergencies.

It is very difficult to get these if you're not working.


  • 5 O'Clock Shadow
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Re: pre-FIRE checklist
« Reply #59 on: September 14, 2017, 03:47:26 AM »
the good to share

Clean Shaven

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Re: pre-FIRE checklist
« Reply #60 on: January 30, 2018, 04:40:53 PM »
Rereading this as my planned FIRE date approaches...

Another item to perhaps consider:  since I am going to use an ACA health insurance plan that will come with a high deductible, I am considering adding "med pay" (medical payments) coverage to my auto insurance.  I called my insurer, and it's an added cost of about $50/ year for $5,000 limits.  I'm generally healthy and don't use much health care, so my thought is that a car accident is one of the more-likely ways in which I might end up incurring a lot of health care expenses suddenly -- med pay would cover all (or most) of the ACA deductible in that instance.

Just food for thought for anyone in similar pre-FIRE circumstances.

Clara Smith

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Re: pre-FIRE checklist
« Reply #61 on: February 02, 2018, 11:57:03 PM »
Thanks, Exhale,
your list of information was very helpful. I will surely follow your guidance. :)


  • Stubble
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Re: pre-FIRE checklist
« Reply #62 on: February 16, 2018, 05:12:24 PM »
“Vacation days: Check policy to see how this is paid out when you leave. Use up what you can't cash out.“

Just to add a bit more on this- many companies have a certain day of the month where they grant/allocate vacation or PTO days for that month, so it behooves you to possibly retire right after that date.  For example, my company grants me 18 hours of PTO hours (equivalent to 2.25 days) every month on the 16th for that month.  As such, when picking a retirement date I will almost certainly retire sometime between the 16th and the 31st of the month so I can get a little extra PTO payout.