Bob Clyatt wrote this book in 2007 to detail his journey through early retirement (at age 42) back to semi-retirement. His definition of “semi-retirement” seems to be in line with a lot of FIRE writers – a part time or temp position that allows you to earn additional hours performing work that you generally enjoy. He is another individual who achieved financial independence, but after retiring early, he found that his worry about money and his desires to stay involved led him back to the work world – but only partially.
The books starts out with working on the “whys” of early/semi-retirement (stale work, new ideas, etc.) and then goes into how to prepare for it. He covers some of the difficult steps of moving from work to semi-retirement. A significant portion of the book is dedicated to setting your spending plan and living beneath your means (determining annual spending, retiring outside the US, etc.)
He then goes into investing strategies for the semi-retired, including portfolio theory, rational investing and rebalancing. He provides concrete examples of various portfolios, based on the individuals he interviewed. He also discusses the 4% safe withdrawal rate, and provides backup for the data and results.
Finally, he goes through other aspects of early/semi-retirement. He talks about the advantages of part-time/temp work, volunteer work, health care, etc. In the end, he urges everyone to take simple steps to make their life well-lived.
One of the best parts of the books are the numerous resources, links and web pages for the various topics covered. It is here where the book really proves its value, and it becomes a good read for those of us seeking financial independence and an early or semi-retirement.
Rating 4 stars out of 5