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Work Less, Live More The New Way to Retire Early by Bob Clyatt always up to date Th e law changes, but Nolo is always on top of it! We off er several ways to make sure you and your Nolo products are always up to date: 1 Nolo’s Legal Updater We’ll send you an email whenever a new edition of your book is published! Sign up at www.nolo.com/legalupdater. 2 Updates @ Nolo.com Check www.nolo.com/updates to fi nd recent changes in the law that aff ect the current edition of your book. 3 Nolo Customer Service To make sure that this edition of the book is the most recent one, call us at 800-728-3555 and ask one of NOLO our friendly customer service representatives. Or fi nd out at www.nolo.com. please note We believe accurate and current legal information should help you solve many of your own legal problems on a cost-effi cient basis. But this text is not a substitute for personalized advice from a knowledgeable lawyer. If you want the help of a trained professional, consult an attorney licensed to practice in your state. NOLO Work Less, Live More The New Way to Retire Early by Bob Clyatt FIRST EDITION OCTOBER 2005 Editor BARBARA KATE REPA Cover & Book Design SUSAN PUTNEY Index SONGBIRD INDEXING SERVICES Proofreading ROBERT WELLS Printing DELTA PRINTING SOLUTIONS, INC. Clyatt, Bob. Work less, live more : the new way to retire early / by Bob Clyatt ; edited by Barbara Kate Repa -- 1st ed. p. cm. ISBN 1-4133-0200-9 (alk. paper) 1. Finance, Personal. 2. Retirement income. 3. Retirees--Finance, Personal . I. Repa, Barbara Kate. II. Title. HG179.C6518 2005 332.024'014--dc22 2005047250 Copyright © 2005 by Nolo. ALL RIGHTS RESERVED. PRINTED IN THE USA. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without prior written permission. Re- production prohibitions do not apply to the forms contained in this product when reproduced for personal use. Quantity sales: For information on bulk purchases or corporate premium sales, please contact the Special Sales Department. For academic sales or textbook adoptions, ask for Academic Sales. Call 800-955-4775 or write to Nolo, 950 Parker Street, Berkeley, CA 94710. Dedication To our Teachers Acknowledgments My thanks to the many early retirees who shared their stories and their in- sights so that others might follow a little more confidently. Particular thanks to the gang at www.early-retirement.org who are always ready to help, 24/7. Keith Marbach of Zunna.com generously ran study after study to help refine, test, and update the Safe Withdrawal Method and programmed the needed enhancements to model The 95% Rule in Chapter 4. Keith also wrote the code for the WATS Simulator, which has been used for his own published research as well as for academic researchers, foundations, and retirees. Paul Fendler, my longtime accountant and friend, graciously provided in- stant feedback on all manner of tax questions and strategies throughout the writing of this book. Paul’s guidance, clarifications, and the many hypotheti- cal tax returns he produced for illustrations can be seen wherever tax matters arise in the book, notably in Chapter 5. Tom Orecchio, of Greenbaum & Orecchio in Old Tappan, New Jersey, an advisor with Dimensional Fund Advisors (DFA), helped refine and test my early ideas about the Rational Investing Portfolio and turn it into something worth sharing. Tom graciously and regularly ran scenarios and portfolios through his software getting me updated and historical statistics that provided the meat of Chapter 3’s data. We are all indebted to a small number of independent thinkers who pio- neered the research, created the products, and stood up against the ridicule of Wall Street to make the Rational Investing Method viable for the little guy. First among them is John Bogle, the founder of Vanguard and developer of the first low-cost index funds. William Bernstein’s research and pragmatic explanations provided me and many others with the “Aha” moments. And Eugene Fama and the folks at DFA have given all serious asset allocators the building blocks we need to understand and implement Rational Investing.

Description:
For some of us, work is a pleasure; it's more recreation than labor. If anything, it's a labor of love.For most of us, however, work is a drag. It's a place to earn enough money to sustain our lifestyle, while trying to avoid the sharks in the business world---the micro-managers, the backstabbers, a
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Work Less, Live More: The New Way to Retire Early PDF

347 Pages·2005·2 MB·English
by  Bob Clyatt
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Work Less, Live More The New Way to Retire Early by Bob Clyatt always up to date Th e law changes, but Nolo is always on top of it! We off er several ways to make sure you and your Nolo products are always up to date: 1 Nolo’s Legal Updater We’ll send you an email whenever a new edition of your book is published! Sign up at www.nolo.com/legalupdater. 2 Updates @ Nolo.com Check www.nolo.com/updates to fi nd recent changes in the law that aff ect the current edition of your book. 3 Nolo Customer Service To make sure that this edition of the book is the most recent one, call us at 800-728-3555 and ask one of NOLO our friendly customer service representatives. Or fi nd out at www.nolo.com. please note We believe accurate and current legal information should help you solve many of your own legal problems on a cost-effi cient basis. But this text is not a substitute for personalized advice from a knowledgeable lawyer. If you want the help of a trained professional, consult an attorney licensed to practice in your state. NOLO Work Less, Live More The New Way to Retire Early by Bob Clyatt FIRST EDITION OCTOBER 2005 Editor BARBARA KATE REPA Cover & Book Design SUSAN PUTNEY Index SONGBIRD INDEXING SERVICES Proofreading ROBERT WELLS Printing DELTA PRINTING SOLUTIONS, INC. Clyatt, Bob. Work less, live more : the new way to retire early / by Bob Clyatt ; edited by Barbara Kate Repa -- 1st ed. p. cm. ISBN 1-4133-0200-9 (alk. paper) 1. Finance, Personal. 2. Retirement income. 3. Retirees--Finance, Personal . I. Repa, Barbara Kate. II. Title. HG179.C6518 2005 332.024'014--dc22 2005047250 Copyright © 2005 by Nolo. ALL RIGHTS RESERVED. PRINTED IN THE USA. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without prior written permission. Re- production prohibitions do not apply to the forms contained in this product when reproduced for personal use. Quantity sales: For information on bulk purchases or corporate premium sales, please contact the Special Sales Department. For academic sales or textbook adoptions, ask for Academic Sales. Call 800-955-4775 or write to Nolo, 950 Parker Street, Berkeley, CA 94710. Dedication To our Teachers Acknowledgments My thanks to the many early retirees who shared their stories and their in- sights so that others might follow a little more confidently. Particular thanks to the gang at www.early-retirement.org who are always ready to help, 24/7. Keith Marbach of Zunna.com generously ran study after study to help refine, test, and update the Safe Withdrawal Method and programmed the needed enhancements to model The 95% Rule in Chapter 4. Keith also wrote the code for the WATS Simulator, which has been used for his own published research as well as for academic researchers, foundations, and retirees. Paul Fendler, my longtime accountant and friend, graciously provided in- stant feedback on all manner of tax questions and strategies throughout the writing of this book. Paul’s guidance, clarifications, and the many hypotheti- cal tax returns he produced for illustrations can be seen wherever tax matters arise in the book, notably in Chapter 5. Tom Orecchio, of Greenbaum & Orecchio in Old Tappan, New Jersey, an advisor with Dimensional Fund Advisors (DFA), helped refine and test my early ideas about the Rational Investing Portfolio and turn it into something worth sharing. Tom graciously and regularly ran scenarios and portfolios through his software getting me updated and historical statistics that provided the meat of Chapter 3’s data. We are all indebted to a small number of independent thinkers who pio- neered the research, created the products, and stood up against the ridicule of Wall Street to make the Rational Investing Method viable for the little guy. First among them is John Bogle, the founder of Vanguard and developer of the first low-cost index funds. William Bernstein’s research and pragmatic explanations provided me and many others with the “Aha” moments. And Eugene Fama and the folks at DFA have given all serious asset allocators the building blocks we need to understand and implement Rational Investing.

Description:
For some of us, work is a pleasure; it's more recreation than labor. If anything, it's a labor of love.For most of us, however, work is a drag. It's a place to earn enough money to sustain our lifestyle, while trying to avoid the sharks in the business world---the micro-managers, the backstabbers, a
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