Today on our retirement podcast, we welcome The Retirement Manifesto to discuss the FIRE movement and how people striving to become Financially Independent and Retire Early (FIRE) can benefit by planning for the soft side of retirement.
Fritz Gilbert is a corporate commodity trader, aspiring philosopher and lifelong financial hobbyist who is on the cusp of early retirement at 55. Fritz and his wife recently sold their primary home and moved into a cabin in the North Georgia mountains as part of their downsizing strategy for retirement. Fritz created his blog, The Retirement Manifesto, which he sees as “a canvas for helping people achieve a great retirement”, to share their lessons learned during their journey. The Retirement Manifesto focuses on practical Financial Independence and Retirement Planning issues for folks within ten years of retirement. On our retirement planning podcast, he shares what he’s learned and why your retirement planning should be balanced and include the non-financial side.
[bctt tweet=”You’ve done the math. You know you can retire early. But are you prepared for the soft side of retirement? Fritz Gilbert shares his advice.” username=”RetiremntWisdom”]
Wise Quote:
On the Importance of Purpose in Retirement:
“I wrote, for probably the first 6 to 12 months, probably 80% of my articles were around that side of it but as I started reading more and thinking more and discovering more. What I discovered was that it’s the non-financial side that dictates for most people how successful their transition into retirement’s going to be. If you read the studies and the surveys about people that struggle on that transition into retirement, it’s really normally not the financial side. It’s the fact that they haven’t given enough consideration and really deep, serious thought about what they want their purpose to be, what’s going to fill their day, what’s going to get them up in the morning, use whatever phrase you want to use but for the first time in your life you’re responsible for filling your day with something that brings meaning and purpose.”
Noteworthy:
Stay around and listen to Denis and Joe discuss the article Design a Retirement That Excites You by Jeff Giesea – Harvard Business Review (11/2015)
https://hbr.org/2015/11/design-a-retirement-that-excites-you
More Wisdom? Yes, please.
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