- Paperback: 252 pages
- Publisher: CreateSpace Independent Publishing Platform; 1 edition (March 21 2013)
- Language: English
- ISBN-10: 1482653729
- ISBN-13: 978-1482653724
- Product Dimensions: 21.6 x 1.4 x 21.6 cm
- Shipping Weight: 576 g
- Average Customer Review: 2 customer reviews
- Amazon Bestsellers Rank: #241,666 in Books (See Top 100 in Books)
How To Retire Early: Your Guide to Getting Rich Slowly and Retiring on Less Paperback – Mar 21 2013
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About the Author
Robert and Robin Charlton retired early from their jobs at the age of 43 so they could travel the world and live life more fully. They live in Boulder, Colorado but spend much of the year traveling both in the U.S. and abroad. They prefer to travel slowly and on foot as much as possible, staying in a country for weeks or months at a time when they can. They keep a personal website documenting their travels at wherewebe.com.
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Most helpful customer reviews on Amazon.com
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!!!
The Charlton's philsosphy about money and dedication to saving is inspiring, and I wish this could be taught in schools. Many people do not have the dedication to do this but some simply don't know its possible. I wasn't a fan of all of the investment advice, but I concede that its very difficult to give investment advice in a book- the market is situational and clients are individuals after all! This book isn't really about investment advice though- its about saving to meet a goal and I did appreciate the Charltons telling what they DID, warts and all. I found the discussion on taxes in retirement very interesting. Overall I think this is a blueprint that could work for a lot of people. Our situation is different as we have 2 grade-school age children, but it won't be difficult to adjust the calculations for that.
I wish they had covered a little more about how they allocated their spending AFTER retirement- I'm pretty good at the saving part, but accurately calculating how much I will need to travel and live in retirement is a little scary for me. Did they calculate correctly, underestimate? Did they forget to include anything in their calculations? I would be interested to know what percent of their income goes to trips and how much goes to daily living expenses. By the way, I wrote down my retirement date- it felt great!
They stress the importance of a couple being equally on board as much as possible.
I also read the previous edition, and appreciated the updated information about health care in early retirement.