Category: the process

The Income Streams Our Early Retirement Is (Now) Built On

When we first formulated a real early retirement plan, it was based on the rigid belief that we’d never, ever work again. Or at least never *have* to work again. And while that’s still true — we haven’t expedited our plan by forcing ourselves to earn income in the future — we now expect to get a much more diversified set of income streams in early retirement. In part because life happens and we’ve made some different choices along the way. And in part because that recession hasn’t hit yet, health care is still up in the air, and it makes sense to keep hedging against sequence risk and health insurance uncertainty.

Does your exit plan have an exit plan? Why you need to be able to change your mind in early retirement -- about where and how you live, about work, and about anything else. Make sure you build in the resources to keep your options open.

Does Your Exit Plan Have an Exit Plan? // What If You Change Your Mind?

Today we’re talking options, and keeping them open. Early retirement isn’t an ending, after all — it’s a beginning. And if we go into that beginning with a limited set of options, and no ability to change our course, we could be setting ourselves up for a less-than-ideal future. Here’s why it’s so important to have an exit plan from your exit plan, which really just means you’re giving yourself the financial and logistical resources to change your mind.

Make Time for What’s Most Important — Before AND After Retirement

I definitely fell into magical thinking for years of our retirement planning, thinking I’d have time to do everything I’d ever dreamed of after we quit: travel the world, write novels, learn a gazillion languages, solve world hunger — you get the idea. But after talking to many early retirees, I’ve had to accept: Time will always be limited. And if I care about accomplishing goals or living a life of meaning, it’s crucial to go into retirement with an eye toward making time for what’s important, and ruthlessly cutting out what’s not.

Why married early retirees should have a pre-FIRE agreement, prenup for early retirement, prenup for financial independence

More Than a Prenup, You Need a Pre-FIRE Agreement

We love that more and more people are talking about prenups these days (more financial transparency between partners is great!), but for those of us considering early retirement, we think a pre-FIRE agreement is even more important. After all, early retirement comes with its own set of major risks, some of which we’re insulated from to some extent as a couple, but others which become bigger risks for those who are married. Here’s how we’re navigating this.