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Recommended reading when *IN* FIRE?
Old 08-12-2014, 01:55 PM   #1
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Recommended reading when *IN* FIRE?

So, I am right on the cusp of going into FIRE but still want to prep for being money smart when IN FIRE.

Most of the books I see are about planning FOR retirement, and not much on managing finances and taxes when IN retirement.

Any sage advice on books or websites or blogs for further reading?

Thanks!
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Old 08-12-2014, 04:07 PM   #2
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I'm not one of the real experts here, but I find the same resources I used before FIRE still to be the most useful. Books like the Four Pillars of Investing, the Intelligent Investor, etc., are just as relevant whether in accumulation or spending phase. Some of the blogs/websites (Wade Pfau, Scott Burns, Bogleheads) also have info for both stages.

To me, the biggest difference is changing asset allocation focus from growth to capital preservation/income, as well as spending strategies (which accounts to draw from, Roth conversions, etc.). The fundamentals really haven't changed.
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Old 08-12-2014, 06:46 PM   #3
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How about
Jim C. Otar's "Unveiling the Retirement Myth"
and

"The Bogleheads' Guide to Retirement Planning"

and

Larry Swedroe's "The Only Guide You'll Ever Need for the Right Financial Plan: Managing Your Wealth, Risk, and Investments"
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Old 08-12-2014, 07:16 PM   #4
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Thanks - I'll look into these!
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Old 08-12-2014, 09:26 PM   #5
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This is an important topic, and imho, isn't covered well in the available literature. The focus is usually on investing, not on the nitty-gritty details of balancing, withdrawals, tax issues etc. that are unique to ER.

This forum is invaluable for information on how to manage your ER.

Try this thread which has links to more.
Books on Strategies for Withdrawals
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Old 08-13-2014, 09:35 AM   #6
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Excellent - thank you, again.
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Old 08-13-2014, 10:58 AM   #7
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Much of the writing I've seen is by people who are relatively young and by people who are well off plus not likely to retire. I think that having lived in retirement makes advice more valueable. Basic finance is a different matter (such as setting AA) and some of the better known advisors are good for that.

So that is why this forum is so valuable. Plus you have me.
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Old 08-13-2014, 12:07 PM   #8
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I researched post-retirement withdrawals and portfolio while I was still working. I began by reading several general investing books from the Bogleheads' Book List . They were great, I thought, and I agree that the Bogleheads Guide to Retirement Planning is one of the very best, although I didn't read it until after I retired so it didn't really figure into my initial retirement planning; it just confirmed a lot of what I had already done. I gradually shifted my portfolio into its retirement asset allocation during the last few years of work because I didn't want to be stuck selling/buying all at once with possibly poor timing.

Since retiring, all I have had to do is keep checking and keep up to date. I do keep reading but haven't seen anything that inspires me to change my portfolio and AA much. I feel like my investing and withdrawals have worked out beautifully.

One place where I dropped the ball, was in gaining information about Social Security beyond knowing exactly what my payments would be at various ages. Luckily various ER Forum members strongly alerted me about the possibility that I could get divorced spousal SS. I am now enjoying divorced spousal SS payments, and one was direct deposited in my bank account just this morning. Likewise, dear Frank, a widower, was lacking in information on social security widow/widowers/ benefits and he will be getting those shortly as well.

My point is that SS itself is very complex, and it's easy to just blow off reading about details that may or may not apply, because how much could there possibly be to learn? A lot, is the answer. There is a lot of misinformation about SS on the internet, so I suggest reading on the ssa.gov website directly.
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Old 08-13-2014, 02:15 PM   #9
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Quote:
Originally Posted by LOL! View Post
How about
Jim C. Otar's "Unveiling the Retirement Myth"
Must have been a very limited edition paperback, a new one cost $929 on Amazon, $380 for a used one.
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Old 08-13-2014, 02:56 PM   #10
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Quote:
Originally Posted by zinger1457 View Post
Must have been a very limited edition paperback, a new one cost $929 on Amazon, $380 for a used one.
You can download the 525-odd pages from his website (click on "books" link at left):

otar retirement calculator

I think around $15 for it just a couple months ago. I downloaded it at work so it cost me nothing to print.

I do not use his calculator as I use FIRECALC instead (which Otar approves of, incidentally).
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Old 08-14-2014, 05:08 PM   #11
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Quote:
Originally Posted by Options View Post
You can download the 525-odd pages from his website (click on "books" link at left):

otar retirement calculator

I think around $15 for it just a couple months ago. I downloaded it at work so it cost me nothing to print.

I do not use his calculator as I use FIRECALC instead (which Otar approves of, incidentally).
The read-only (non-printable) version is only $5.99.
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