Author Topic: Any books, blogs, or general advice for people who are one year from FIRE?  (Read 12241 times)

NYCMiniBee133

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I had originally posted in the General Discussion forum and someone suggested this might make a better venue for my question: Do any of you have book or blog recommendations on how to prepare emotionally (anything you found helpful to have in place and to have though throgh) and also logistically for FIRE (insurance considerations, changing asset allocations, etc)? Any advice from your personal experience on what you wish you had done and what part of the transition was roughest?

Thank you for the advice!!

Jon_Snow

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I hate to steer you to a competing forum, but ER.org is pretty damn great in terms of finding answers to some of the questions you have.

I've seen far too many early retiree's that seem "lost" once they step away from their careers. It is a BIG life change. You need to be prepared for it. Have hobbies/interests you are passionate about etc...such a sudden influx of free time can be a problem for some. I actually think it would be worth it for some to work a few extra years while developing an ER "exit plan". It seems that so many (even here on MMM) are so intent on the idea of ER and FIRE, that they pay little heed to what their lives would actually "look like" once they retire.

Myself, I spent 10 years planning/daydreaming/obsessing about what my post-work life would look like. So far, so good. :)

RetiredAt63

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In "the negatives of FIRE" Nords wrote Let me sum it up this way:
Six months before quitting the job and starting early retirement, everyone worries about what they'll do all day.
Six months after FIRE, everyone wonders what the heck they were worried about.
It's an adjustment period, and everyone finds their balance.  It happens faster if they've been preparing for it, but it happens.


I was told at a retirement planning session for teachers that teachers make wonderful retirees, because we are so used to planning ahead and figuring out what to do to get to our goals.  I think this generalizes - if you are self-actualizing (and most on these forums are) then you should be fine.  If you need some set schedule to keep you gong, you may have issues.

If you have the practical issues taken care of, finding things to do should not be an issue. But the first few months are not typical, they are recovery time.

iluvzbeach

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I'm not FIREd, but a book I saw recommended by others on MMM is "How to Retire Happy, Wild and Free" by Ernie Zelinski. It focuses on the non-financial aspects of retirement. I downloaded it to my Kindle App. Haven't read it yet, but am excited to do so. Take a look and see if it might be the type of read you're looking for.

deborah

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I read "What Color is Your Parachute? for Retirement: Planning a Prosperous, Healthy, and Happy Future" by Richard Nelson Bolles shortly before I retired. It includes less financial advice than most retirement books (which was good for me as it is a US book), and much more about how to set yourself up in retirement. I have also read "Twenty Good Summers" by Martin Hawes which has some interesting stuff in it.

Most retirement books are all about the finances and less about what you need or want to do in retirement. I certainly recommend the Parachute book, as it has step by step instructions, and exercises. It included some things that I hadn't thought about. Once I had completed it, I had a much better idea of what I would do in retirement.

NYCMiniBee133

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Guys, thank you for all the wonderful advice. I wanted to report back that in the days since I started this thread I followed up on the suggestion of the Bolles book and it is the best resource I've come across so far on preparing for retirement. Really appreciate the comments and looking forward to anything else folks have to suggest from their own experience or literature/blogs they've enjoyed.

Ready2Go

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Here are 2 fantastic posts on mental preparation.  They definitely clarified my thinking.

https://livingafi.wordpress.com/2015/01/13/quitting-the-cushy-job-2/

https://livingafi.wordpress.com

NYCMiniBee133

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Here are 2 fantastic posts on mental preparation.  They definitely clarified my thinking.

https://livingafi.wordpress.com/2015/01/13/quitting-the-cushy-job-2/

https://livingafi.wordpress.com

These are fantastic. Literally every objection he listed was one I had thought about myself...OMY is a real thing.