I am 2 months out from the being FIRE'd. Has anybody compiled a pre-FIRE check list??

Here's the what I call "getting the ducks in line" (additions WELCOME):

1. Healthcare - applied for BC/BS since it's cheaper than COBRA. COBRA is the fall-back.
2. HELOC - popped a couple HELOCs on rentals since applying with out a job will be challenging (at best).
3. PC - keeping the work laptop was not desirable (5 years old); so I tapped th lead and bought thru DELL's corporate website. All configured and ready to go.
4. To Do List - an couple months worth of delayed projects to "hit the ground running"
5. Umbrella policy - applied for. I've sold off enough rentals to actually qualify (that's nice).

What am I missing? I'll be FIRE'd on rentals so any talk of portfolio shifts really doesn't apply to me ... but is certainly welcomed.

Thanx!

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FIRE'd since 2005

Back up rental manager/house mother - so you can take that 12 month world cruise/ sojurn in Bora Bora?

Heh, heh, heh, heh

Hi Tryan -

My list includes several of the same items. I also included getting all my dental work done on the company plan - crowns that I've been putting off for years, making sure I've done all the big ticket car and home repairs (not that that's company money, just that I don't want those big expenses in the first year of ER) and getting copies of any records or files I may need for future freelance work.

Probably not relevant to you, but based on other comments on the board we (SO and I ) are planning to time our departure announcements just after bonuses are paid out.

Congrats and Good Luck!

Here's a few suggestions:
1. Healthcare -
- Get whatever benefits you can from your current (for two more months) plan. *Get a full exam, bloodwork, tests, whatever the rules allow. *
- Check into body & fender work. *If you have a chronically sore limb, see if you can get a consult for physical therapy. *If you have allergies, see if you can get a consult for an allergy-response or immunology evaluation. *If you're prone to fits of workplace giggling, see if you can get a psych referral. *(Oh, wait, nevermind, that's a normal symptom of FIRE-soon syndrome.)
- Refill maintenance prescriptions (especially if they're cheaper) in case there's a fumble of the healthcare handoff.
- Get a full dental exam, x-rays, cleaning, filling overhauls, bridges, crowns, root canals, whatever. *I worked with a senior Navy guy whose retirement was almost held up while dental did a half-dozen essential root canals-- one per week. *It was not a good way to enjoy terminal leave.
2. *If you're entitled to any legal-advice or other services as part of your employment, use them. *This includes pre-retirement counseling, portfolio reviews, outplacement services (especially recommendation letters?), office coupon booklets, stress-relief massages, filching the key to the executive washroom, whatever. *You're not planning to go to work ever again but if someone will give you a free letter of recommendation (a good one!) it might come in handy.
3. *Check your retirement benefits with an accountant or some other outside source. *For example, my FIL gave his retirement lump-sum payment info to a group called "Pensionbusters" and they worked through a forensic-accounting evaluation of his company's pension calcs to see if there were any suspicious assumptions. *As the union's shop steward he was ready to discuss any surprises with senior management... *And make sure you know how much you're receiving for vacation time or other benefits that can be converted into cash.
4. *Clean up any options, discounted ESOPs, 401(k) matches, or other last-minute donations to compensation plans. *Pay back any 401(k) loans before you leave. *Don't leave anything on the table before you roll all that stuff over to a new IRA. *Consider the tax aspects of making the moves now or next year. *If your company provides any free evaluation tools (for example, many 401(k) plans include a free subscription to Financial Engines) then use 'em before you lose 'em.
5. *Think about an IRA conversion to a Roth. *You might not want any more income this year but early next year might be a good time.
6. *Check your income-tax witholding (fed, state, & locality) and make sure that you're not underwitheld for any final lump-sum payments or other last-minute checks. *The next estimated-tax payment is due 15 Sep. *Make sure your employers know where to send the W-2s & 1099-Rs. *Seems pretty straightforward but I've seen it screwed up many times.
7. *Call your insurance companies and let them know you're about to be a retiree who'll vigilantly stay at home all day protecting your insured assets. *They might give you a price break.
8. *Make sure there's absolutely no workplace confusion about your desires for a retirement ceremony, party, dinner, going-away present, whatever. *Some will think you're reluctant to tell management what you really want, others will think they know better than you during your temporary period of self-delusion, others just enjoy arranging sadistic ambushes surprise parties. *Tell 'em what you want and keep telling the same story to your co-workers & friends.
9. *Did the company provide anything at home that you'll need to replace? *Free virus-scanning software, unused frequent-flyer miles, company car, workplace VPN computer access, a Blackberry, subsidized childcare, housecleaner, yard service, mints on your pillow? *Now's the time to deal with the changes before the service stops happening.
10. *You sound like you're all over the HELOCs, and this is also a good time to apply for additional credit cards. *After you retire you may not care about the impact on your credit rating but you'll do better applying now (while you have employment income). *Are you planning to make any other large credit purchases like a new car, new appliances, or a new roof?
11. *Does anyone in your workplace need anything from you now? *Promotion recommendations, bonus requests, resume' letters, or any other largesse that you can bestow while you're still employed? *
12. *Are you leaving any nasty unfinished business? *Do any of your subordinates have any lingering problems that you should take care of before the new guy has to start all over again? *Any pending (or unresolved) deadlines, disciplinary actions, or felony indictments? *This is a good time to take the high road... after all, you're FIRE and you've won the battle.
13. *Now is the time to consider what your response would be to any unsolicited post-FIRE consulting or other employment offers.

__________________
*

Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.

Nords,

Great list! You covered most if not all the important stuff. When I left I gave 2 weeks notice, did not want a party and left before the end of the day to avoid the goodbye BS. I was just sooooooo happy to be out of there; my freedom was far better than any party.

The medical stuff is a really good idea. Use it all up to your limits and be sure to check out all your options. Speaking of options, be sure you know what will happen to any stock options you may have. Will they expire 90 days after you leave? Will they change to NQ from ISO? Can you keep them until for their original exp. date? What other benefits can you get before or after you leave? What vendors can you use to get discounts? etc.

Good luck and remember to sleep late!

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Work? I don't have time to work....I'm retired.

A 5 yr old laptop! Is that typical for your (ex) company? What new Dell did you buy?

I stretched the useful life of a no-name brand desktop to seven (7) yes, seven years. Five years is a no brainer (my current laptop is that old). It still does everything I need it to do.

__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald

Great list Nords. Probably should be "sticky". It could have tyrans #4 added to cover the "but waddaya gonna do all day" factor. For me, rehabbing a recently inherited house took 3-4 days/wk for almost a year...thank god.

Finding that I could do things at my own pace and on my own terms made for a fine transition into the ER life... born again feeling.

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In a panamax down by the river.

That's great. At work ours go on the road constantly so we are lucky to get 3 years before something breaks. Actually for personal use 5 years seems feasible if the batteries make it

This is "Work Talk" - I would discourage a list. You now have the rest of your life to do what you please.

I try to remove from my vocabulary all of the stupid clichés used in the work world like this. (e.g. "Win Win" - "Meeting" - "Career Path" "Hit the Ground running" etc. etc.)

I never "hit the ground running" anymore. I take time to smell the flowers and savor the moment.

Or "proactive". I hate that.

JG

Isn't the alternative to be reactive . . . or is it reactionary?* That might explain your feeling.* *

Could be.

JG

I cleaned out my closet today. That wasn't on the list, was it? Lots of blue jeans and khakis for Good Will.

Generally I have been using the buzzword "what the F am I doing here?!!"

For some reason all those de-motivational posters at despair.com resonate with my mindset.

cheers,
Michael

I think despair.com was a turning point for me. I found their messages more "motivating" than the serious vendors of corporate motivation crap.

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You can either take action, or you can wait for a miracle. Miracles are<br />great, but they are so unpredictable.<br />(Peter Drucker)

I've often thought that working at despair.com would have to be one of the easiest jobs in the world. Just wait till the motivational products are released and the posters would almost write themselves.