Today I'm going to share some options for setting up a retirement requiring $50k in annual spending. I get a lot of questions like "How can I retire?", "What can an average person do to retire?", and so forth. This post should answer a lot of these. There are many ways to retire (of course) but I'll detail four of the most popular/likely options plus add some commentary … [Read more...]
What to Do with Your Time in Early Retirement
In my Black Friday Chat last fall one reader made the following comment: One of my biggest concerns about early retirement is lack of structure/purpose. It would be nice to see more questions targeting what people do to fill their days during early retirement. Not everyone is inherently disciplined or have a lot of activities outside of their professional lives. It would be … [Read more...]
Defining Retirement
Wow, we have had quite a run recently. It seems there's just one great money book after another these days! It started last fall with the release of The Next Millionaire Next Door I covered this book in several posts including: The Next Millionaire Next Door The Characteristics of Successful Investors Self-Reflection: A Critical Step Before … [Read more...]
2018 Financial Year in Review and 2019 Forecast
I'm writing this at the end of January. By the time it posts I'll be well into tax season. Ugh. My investments and businesses have done well this year and I'll owe money even though I paid quarterly taxes. So I'm in no hurry to file. ;) While I'm slaving away getting details ready for my CPA, I wanted to give you an overview of how 2018 turned out financially. I'll … [Read more...]
Retirement Interviews
We already have two interview series at ESI Money: the very popular Millionaire Interviews and the loved-by-some-but-not-all ESI Scale Interviews (BTW, I haven't stopped doing the latter, just spacing them out a bit more.) I personally love both series because each offers a unique perspective. The millionaires teach us everything they did to become wealthy and I always seem … [Read more...]
Retirement Update: Two Years and Six Months
It's been two and a half years since I retired! Where has the time gone? I'll tell you where it's gone -- into fun, relaxation, and enjoyment! LOL!!! For those of you who are sticklers, yes, it's actually been two years, six months, and five days. But who's counting? ;) Since my retirement day I've given an update every six months just to let everyone know how it's … [Read more...]
Retirement Years are Like Reverse Dog Years
On one of our two daily walks my wife and I were chatting about how long it's been since I retired. I asked her if it seemed like it had been two years since I retired (almost 2 1/2 now). Or maybe she thought it felt like it had been longer or shorter. She said she it feels like it's been longer than that. I agreed. But not in a bad way. In an "I can't remember what … [Read more...]
Black Friday Chat
Well, it's the day after Thanksgiving and if you're like me, you ate too much yesterday. But that's ok, right? At least once in a while it's ok to overdo it a bit. It was a great Thanksgiving for us and I hope yours was the same. We are all back together (including my daughter who has been home from college for over a week now) which made the holiday extra … [Read more...]
Help a Reader: Trying to Get to Early Retirement
The following is an email I received from a reader a couple months ago. It's a sad tale on many fronts, but also inspirational because of how much progress she's made. In fact, it's quite remarkable IMO. I had her adjust the story a bit and include more financials so she could get advice from the great readers here at ESI Money. So please read it completely and give her … [Read more...]
10 Reasons Why You Might Want to Consider RVing Full-Time
I'm not sure whether I've mentioned it or not, but my parents bought an RV this past spring. They are in the process of selling everything they have and hitting the road full-time. Their goal is to be out of Iowa before the winter hits, but at the rate they are going, I'm not sure it will happen. I see another Iowa winter in their future. Anyway, we've been learning a … [Read more...]
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