Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Terhorst Book
Old 12-24-2004, 11:03 AM   #1
Recycles dryer sheets
 
Join Date: Jul 2004
Posts: 173
Terhorst Book

Guys,

Is the Terhorst book, which I know is a classic, worth spending $20-25 on? Am I really going to learn that much that I couldn't just learn on this board?
__________________

__________________
Whisper9999 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Terhorst Book
Old 12-24-2004, 11:08 AM   #2
 
Posts: n/a
Re: Terhorst Book

Can you get it at the library?
__________________
  Reply With Quote
Re: Terhorst Book
Old 12-24-2004, 11:29 AM   #3
Recycles dryer sheets
 
Join Date: Jul 2004
Posts: 173
Re: Terhorst Book

Quote:
Can you get it at the library?
Believe it or not, I never thought about it!
__________________
Whisper9999 is offline   Reply With Quote
Re: Terhorst Book
Old 12-24-2004, 11:34 AM   #4
 
Posts: n/a
Re: Terhorst Book

I first found it at the library. I now have my own copy.
It is worth the money.

JG
__________________
  Reply With Quote
Re: Terhorst Book
Old 12-24-2004, 12:44 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2003
Location: Kansas City
Posts: 7,408
Re: Terhorst Book

Hmmm - Don't know about the Terhorst book - BUT I have my fourth copy(in thirty years) of the 4th ed, Ben Graham's The Intelligent Investor - kept under lock and key with dollar bills bookmarking selected sections for those occassions when I suffer 'irrational exuberance'.

The book has achieved talisman status - reading a library copy just won't cut it. Not that I'm irrational or superstitious or anything - heh,heh,heh.
__________________
unclemick is offline   Reply With Quote
Re: Terhorst Book
Old 12-24-2004, 12:57 PM   #6
Full time employment: Posting here.
 
Join Date: Sep 2003
Posts: 902
Re: Terhorst Book

Whisper9999, it is a great book, but based on your posts I think you are way beyond it.
__________________
Bob_Smith is offline   Reply With Quote
Re: Terhorst Book
Old 12-24-2004, 01:37 PM   #7
Recycles dryer sheets
 
Join Date: Jul 2004
Posts: 173
Re: Terhorst Book

Quote:
Whisper9999, it is a great book, but based on your posts I think you are way beyond it.
Thx for saying that, but I'm only 50% of the way there psychologically. I can tell that I think differently than the great majority of my peers, but I still sucked into the "rat race" too easily.

So I'm always looking for inspiration and pointers...
__________________
Whisper9999 is offline   Reply With Quote
Re: Terhorst Book
Old 12-24-2004, 01:40 PM   #8
Recycles dryer sheets
 
Join Date: Jul 2004
Posts: 173
Re: Terhorst Book

Quote:
Hmmm - Don't know about the Terhorst book - BUT I have my fourth copy(in thirty years) of the 4th ed, Ben Graham's The Intelligent Investor - kept under lock and key with dollar bills bookmarking selected sections for those occassions when I suffer 'irrational exuberance'.

The book has achieved talisman status - reading a library copy just won't cut it. Not that I'm irrational or superstitious or anything - heh,heh,heh.
You know I'd like to buy that to see how well it corresponds to my current investing methodology. I buy only the best of the best but on a much shorter time frame than Graham/Buffett. I'd like to know how much the fundamental part of my style corresponds to his way of thinking...
__________________
Whisper9999 is offline   Reply With Quote
Re: Terhorst Book
Old 12-24-2004, 03:37 PM   #9
Recycles dryer sheets
 
Join Date: Jan 2004
Posts: 80
Re: Terhorst Book

Quote:
Thx for saying that, but I'm only 50% of the way there psychologically. I can tell that I think differently than the great majority of my peers, but I still sucked into the "rat race" too easily.

So I'm always looking for inspiration and pointers...
Then the Terhorst book would probably be worth it for you. A lot of it is about being motivated to ER, figuring out what you want to do other than work for pay, learning how to opt out of the rat race, etc. I got it out at the library and thought it was an OK read, but for me it was 99.99% "Yeah, I already feel that way, no need to convince me, what's next?"

If you think perpetual traveling sounds like a fun idea, then that's another plus for the book. I am the kind of person who considers time off from work a perfect opportunity to stay home, read books, watch movies on DVD, drink coffee, and pet my cat. Traveling is fun once in a while, but I would not enjoy *always* traveling.
__________________
Reflections on spending, saving, and living simply: www.spendingwisely.com
ordway is offline   Reply With Quote
Re: Terhorst Book
Old 12-27-2004, 03:05 AM   #10
Full time employment: Posting here.
 
Join Date: Oct 2003
Posts: 570
Re: Terhorst Book

Is the Terhorst book, which I know is a classic, worth spending $20-25 on? *Am I really going to learn that much that I couldn't just learn on this board?

I say you should buy the book. It's not that you will pick up any one piece of information that you could not pick up from reading this board. A book is a different communications medium than a discussion board, in some ways superior and in some ways inferior. Information re how to retire early is taken in through a different process when taking in through the reading of a book.

One difference with reading the book is that you will learn about the Terhorst case in greater depth than you would learn about any of the cases you see described at this board. There are great benefits in gaining horizontal knowledge of a topic. But there are also benefits in gaining vertical knowledge of a topic.

Another difference is that, in organizing the material presented in his book, Terhorst had to integrate his understanding of different ideas and concepts so that his treatment of one led naturally to his treatment of another. On a discussion board, the conversation jumps from Topic A to Topic B to Topic C. You experience a collage of insights. That's fun. But there is a different sort of fun to be had in pulling the various information bits into an integrated whole, and that is better accomplished by reading a book.

I am a big fan of discussion boards. If you had to choose between participating at this board and reading the Terhorst book, and you had enough free time to be able to devote a good bit of it to reading a discussion board, I would advise you to participate at the board. But you don't have to choose. You can have the best of both worlds. I have spent lots of time on Retire Early discussion boards in recent years. But I also have read the Terhorst book three times and would probably benefit from going back to it for a fourth run-through.

This is new stuff. It is not possible for your mind to take it all in quickly. You need to go to the well, drink a bit, go away and ponder for a time, and then return to the well for a new drink. Your understanding of the material will expand after your first read of the Terhorst book in such a way that you will pick up things on the second that you just didn't see were there on the first.

You have a lot riding on getting this right. The tiny number of dollars it will cost you to obtain the Terhorst book is insignificant compared to the gain you will experience by being a little more sure that you did not make any big mistakes in development of your plan.
__________________
hocus is offline   Reply With Quote
Re: Terhorst Book
Old 12-27-2004, 07:34 AM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2003
Location: Kansas City
Posts: 7,408
Re: Terhorst Book

Talisman/good luck charm to keep you motivated --

You can rub the cover - when the urge to spend hits.

__________________
unclemick is offline   Reply With Quote
Even Vicki Terhorst wouldn't pay that much.
Old 12-27-2004, 08:08 AM   #12
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Even Vicki Terhorst wouldn't pay that much.

Whisper,

Try a library copy, or get your fix at the Terhorst's website. Vicki calls the used-copy prices "outrageous". http://www.geocities.com/TheTropics/Shores/5315/ I don't think they have any plans to write another book since it'd be a lot of promotional work.

But I think the Kiplinger's & Money articles (look at the links at the bottom of the Terhorst's page) are at least as valuable as the book... maybe more so.

The Terhorsts' book was a great start on the topic, but their website articles give a much more balanced & considered approach. For example, their retirement portfolio is much heavier in equities now than when they retired.
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Re: Terhorst Book
Old 12-27-2004, 02:54 PM   #13
 
Posts: n/a
Re: Terhorst Book

Actually the Terhorsts had no equities when they retired.
They caved. I, OTOH, have kept the faith

JG
__________________
  Reply With Quote
Re: Terhorst Book
Old 12-28-2004, 11:05 AM   #14
Thinks s/he gets paid by the post
 
Join Date: Mar 2004
Posts: 1,318
Re: Terhorst Book

Whisper,
Don't buy Terhorst for the financial side (basically it boiled down to buying 8% 10 year treasuries -- tell me if you find any!)

But on the psychological side, the book galvanized me to 15 years of planning for ER, and got me into it whole. It ranks as the most influential book in my life, short of the Bible.

It may be preaching to the converted now for you, but some days we all need a bit of that.

Terhorst is funny, breezy and credible.

Having said that, try to get it in the Library to save the money. If you aren't successful, and promise to return it, you can PM me and I'll lend you mine.

ESRBob

__________________
ER for 10 years; living off 4.3% of savings (and a few book royalties ;-)
ESRBob is offline   Reply With Quote
Re: Terhorst Book
Old 12-28-2004, 01:45 PM   #15
 
Posts: n/a
Re: Terhorst Book

Let me add my voice to the chorus--Terhorst's book provides a very insightful perspective on ER from one who apparently left a very high-achieving career and chose ER.

The book is best when it comes to the 'whys' and 'how' of ER for those who have accumulated modest but significant wealth.

The overall financial advice is still relevant, even if the portfolio choices are no longer optimal...

Finally, be sure to ask your local reference librarian about inter-library loan. I'm sure they can find one for you somewhere, at a minimal cost! In my case I got it from a local Bay Area library and made myself a personal copy at Kinkos!

__________________
  Reply With Quote
Re: Terhorst Book
Old 01-05-2005, 12:55 PM   #16
Thinks s/he gets paid by the post
Hyperborea's Avatar
 
Join Date: Sep 2002
Location: Silicon Valley
Posts: 1,008
Re: Terhorst Book

Quote:
In my case I got it from a local Bay Area library and made myself a personal copy at Kinkos!
That wouldn't be the Campbell library would it? I've borrowed it a couple of times in the begining of planning for FIRE and when I needed an inspirational boost.

I wonder how much the library would charge me for replacement if I "lost" the book by selling it on eBay?
__________________

__________________
Hyperborea is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Book report: "The Little Book of Value Investing" Nords FIRE and Money 5 01-08-2007 12:00 AM
Book Report: "Why Do I Love These People?" Nords Other topics 4 06-12-2006 11:40 PM
The book, The New Health Insurance Solution Martha FIRE and Money 20 05-15-2006 11:16 AM
Book report: Life 2.0:... Nords Other topics 4 03-02-2006 04:42 PM
Book report: "The Way We Never Were" Nords Other topics 9 05-17-2005 10:57 AM

 

 
All times are GMT -6. The time now is 04:37 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.