How To Retire Early: Your Guide to Getting Rich Slowly and Retiring on Less Kindle Edition
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--Our Next Life (Tanja Hester,ournextlife.com)
"The whole time I was reading it, I found myself finding more and more confidence in my own early retirement plans. We need more examples like the Charltons of how regular people like you and I can make our goal of financial freedom come true...The math is all there."
-- My Money Design (mymoneydesign.com)
"I especially liked Charlton's discussion about health care...After reading How to Retire Early, I have a much better grasp of how to qualify for lower costs."
-- Investing to Thrive (Julie Rains, investingtothrive.com)
"They generously lay out all their numbers and go on to prove you don't have to be earning 6 figures to retire early...The fact that the Charltons are sharing their numbers and a practical system to enable us to forecast our numbers is a huge gift to the FIRE community and I'd say it's one of the MUST have books for FIRE proponents. They even share their compounding spreadsheet which is brilliant in its simplicity."
-- FIRE Kiwi (firekiwi.co.nz)
"How to Retire Early [is] getting great buzz through word of mouth in the FIRE community."
--Millennial Revolution (FIRECracker,millennialrevolution.com)
"This book is an incredible example of a retirement story of an everyday couple...They share almost everything about their finances. They tell you how much money they saved each year and what steps they took to get there...The beauty of their approach is that it is very simple and nothing technical or complicated. Everybody can do it!"
-- Pollie's Dividend (polliesdividend.com)
"How to Retire Early...takes you through a journey of exactly how they accomplished it. It is very transparent and incredibly motivating."
-- We Retired Early (Steve Miller, weretiredearly.com)
"They have a wonderful and inspiring sense of adventure. It's a great read and I think you'll be inspired to live and reach financial independence if you read this book."
-- Financial Woman (Camille Gaines, financialwoman.com)
"Two normal people who decided to retire early, stuck to their plan -- and did it."
-- FI Guide (figuide.com)
"If you are even remotely interested in early retirement then I HIGHLY recommend that you check out this book."
-- Frugal Chic Life (frugalchiclife.com)
About the Author
- Publication Date : July 31, 2018
- File Size : 20481 KB
- Word Wise : Enabled
- Print Length : 254 pages
- Language: : English
- ASIN : B07G3FSMD5
- Enhanced Typesetting : Enabled
- X-Ray : Enabled
- Text-to-Speech : Enabled
- Screen Reader : Supported
- Lending : Enabled
- Best Sellers Rank: #281,124 in Kindle Store (See Top 100 in Kindle Store)
- Customer Reviews:
Top reviews from the United States
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This is a great starting point for someone in their 30s maybe. But, pay attention to the following caveats!
This book is interesting for total novices and appropriate for those who: 1- have NO kids and have no plans to (no offense to the authors, they couldn’t have kids), 2- NO animals, 3- BOTH spouses are incredibly cheap and can live on a shoestring budget, 4- can live in a 308 Sq foot apt! 5- have alternative sources of income (book royalties, pensions, etc), and 6- have the training (nurse, computer programmer, pharmacist), the ability and the desire to go back to work quickly and make a lot of money, if the market turns or doesn’t provide the anticipated growth.
I think the idea that the authors would suggest a 9% portfolio return when their actual portfolio returned maybe 7% is not only misleading, but irresponsible. After the 9-10 year bull run we have just ended, an anticipated blended 5-6% return going forward pre-tax would be much more prudent and realistic. The last 10 year return for the S+P 500 was an average of 10.75%, which is one of the highest 10 years ever. But if you blend that with other indices like international or small/mid cap or add some value elements (which the authors recommend) to your portfolio, a 100% equity portfolio the last 10 years may have been lucky to return 7-8%, even at Vanguard with very low expenses. And this is with one of the best 10 year large cap numbers in history.
Btw- I would travel a lot also if I lived in a 308 Sq foot apt.
The authors suggest that having children will add 5 years to your plan. This is obviously coming from adults who do not have children. From experience, having 2 will easily add 10 years if not more. If you don’t have kids yet, just look at how much college tuition is these days. Estimate @$100k per kid at a in state public school this year. In 20 years that may be double.
Finally- 2% inflation is not realistic either based upon the author’s own experience. Their $100k apartment has appreciated to what, $227k in a few years! That’s a little higher than 2%. Maybe 10%.
Also- you folks need to make it clear to your readers that the reason that you didn’t increase your $40k budget for 12 years is because you used the old trick of doing more on less by adjusting your spending habits to adjust for inflation. Reminds me of the Wendy’s old dollar menu- everything stayed $1, but everything seemed to get smaller every year. A more realistic inflation figure accounting for food, housing and health care should be 3% if not higher. Especially as you get older.
Please use these numbers when doing the math or you will be disappointed at a minimum or devastated
worst case when you run out of money in your 60s or 70s.
I have been thinking about the idea of retiring early (or at least partially retiring) for a little while now (I am 43), but mostly as a pipe dream that I always dismissed. Because how in the world would that be possible? In part because I couldn't see how to pay for health insurance. That's why I really appreciated the chapter on health care in retirement in particular.
I read this book basically in one sitting because I got so excited as I was reading along because I realized that this early retirement idea could *actually* work! And it motivated me to go out on a limb and throw out a really crazy idea and see if I could retire in 10 years (by age 53). With the help of the Excel spreadsheet from the author's website, I pulled together all of the required financial information and played with several scenarios. And guess what! I think it may actually work!!!! I also went over it with my financial planner who uses her own retirement calculator, but with my numbers, we basically came to the same conclusion. Knowing that I have the option of early retirement (if I actually do it or not) has given me a completely new outlook on my future!
This book is laid out in a very clear and logical manner and explains how to plan for retirement in various scenarios...kids vs no kids, retiring in 10, 15 or 20 years, anticipated expenses in retirement...different ages at retirement, which determines how much of your portfolio should be in tax-advantaged accounts, how big your nest egg needs to be, etc, etc. In this book, I was always able to find an example applicable to my situation, which allowed me to come up with a clear plan.
Until now, I had put off any sort of realistic planning for the future, including investing money, because of all of the uncertainty and conflicting information out there. I was paralyzed and just avoided the whole subject because it was ambiguous and “icky.” I’ve had this book less than a month, and I have set up investment accounts based on information I’ve read in it. Now I have a clear plan to follow going forward, while not obsessing about the stock market. Of course there is always uncertainty, but now I have a better understanding of the different variables and it is not as complicated as I once thought.
If you are a beginning investor or someone who has avoided thinking about retirement planning because it was too overwhelming, I highly recommend this book!!!