Author Topic: Unexpected FIRE. Retirement guidance/tutorials?  (Read 1588 times)

Merdox

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Unexpected FIRE. Retirement guidance/tutorials?
« on: September 10, 2018, 12:10:00 PM »
So I've been keeping my head down and grinding for so long that FIRE kinda snuck up on me and I decided to finish out this year then quit my firm, but I don't have any of the nuts and bolts of retirement figured out. Just assume I'm the most ignorant Mustachian here. For quick background, I'm a lawyer and I'll be looking to write some appeals freelance next year to generate a little bit of income so I can avoid dipping into my stash as much as possible. Any step-by-step guidance (or accessible explainer links) for things like health insurance, investment withdrawal, taxes, and anything else I'll have to deal with would be appreciated. TIA!

Financial.Velociraptor

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Re: Unexpected FIRE. Retirement guidance/tutorials?
« Reply #1 on: September 10, 2018, 05:37:07 PM »
Basically, you have given way too little information for anyone to make useful recommendations.  There is however an entire forum dedicated to this: https://forum.mrmoneymustache.com/case-studies/.  Start with the sticky thread at the top and then start your own case study thread.  You'll get lots of solid advice.

markbike528CBX

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Re: Unexpected FIRE. Retirement guidance/tutorials?
« Reply #2 on: September 10, 2018, 06:33:40 PM »

G-dog

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Re: Unexpected FIRE. Retirement guidance/tutorials?
« Reply #3 on: September 10, 2018, 06:45:08 PM »
Read Dr. Doom’s withdrawal strategy posts (LivingAFI).

Also, Google search works better on MMM than the internal search function. So a google do MMM + specific question will help you find some info.  Strategies may depend on your age, portfolio, etc.



keyvaluepair

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Re: Unexpected FIRE. Retirement guidance/tutorials?
« Reply #5 on: September 13, 2018, 05:46:33 PM »
Recommend using the spreadsheet at earlyretirementnow for SWR calculation. If you are FIRE'ing then a 30 year window may be too short.

profnot

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Re: Unexpected FIRE. Retirement guidance/tutorials?
« Reply #6 on: October 16, 2018, 08:12:54 PM »
A few books I have found helpful -

How to Make Your Money Last
by Jane Quinn

The 5 Years Before You Retire
by Emily Birken
Good light overview of all aspects of retirement, including medical / long term care expenses, which is not covered in most books on retirement.

Long-term Care: How to Plan and Pay for it
by JL Matthews for Nolo Press
This book lets you determine how much money to set aside for long term care and not touch it until then.  Most people don't realize how much they will need.  I consider $300K an absolute minimum for most middle class individuals.