Book Review & Giveaway: Free at 45 by Tim Stobbs
I’ve known Tim Stobbs over at Canadian Dream for quite a number of years. In fact, I really looked up to him (along with Mike Holman, Kerry Taylor, and a few other Canadian bloggers) when I first started my journey out of debt – and I still do today. So, earlier this year when I found out that he had written a book, I knew I had to get my hands on a copy.
Truthfully, I don’t know much about Tim, other than the snippets of his life that he decides to share with his readers on his popular blog. But after reading his book, Free at 45, I really feel like I know him a lot better. First, he is hilarious (or maybe I just have a weird sense of humour). I found myself laughing out loud throughout the entire book. But most importantly? The guy knows his stuff. His writing style made it easy for me to understand what he was saying, and I felt like he was speaking directly to me. Also, he broke down the numbers and really helped me to see the math behind what he was talking about.
As someone who’s #1 personal finance goal is to retire early, I think it was something I needed to read. It put my goals into perspective and helped me understand why I want to retire early, and what I truly value out of life.
Here are the biggest lessons I learned from reading his blog:
- Anyone can retire early. Tim talks about how you don’t need to win the lottery, or flip houses, or get lucky in the stock market, to leave your job and retire early. It’s about knowing what’s important in your life, what makes you happy, and a willingness to work hard and put in the effort.
- When thinking about how much to save for retirement, don’t get caught up in a number. He explains that it’s not what you make, it’s what you spend that determines what you need. Such a logical way of thinking, yet somehow I never really grasped the concept until I read this book. He writes that we often times get sucked into thinking we need to replace a certain percentage of our income – when in reality we might need a lot less than we think we do.
- How to be happy in the present. A huge thing for me was remembering that you can’t wait until you retire to do everything that you’ve wanted to do. Live your dreams today, and be happy with your life. I think that really rings true in my life right now. The past two months have been interesting and stressful, but I can’t recall a time where I’ve been happier.
Tim recently quit his job because he has been unhappy for so long. I think that’s amazing, and a true testament to how he lives his life and what he values.
I don’t do a lot of book reviews, and I certainly don’t endorse anything unless I truly believe in it – but this is a great book that I think everybody should read – even if your goal isn’t to retire early.
Now, the contest! You can enter to win your very own copy of Tim’s book! Here’s how:
There are TWO ways to enter [for a total of 3 entries]:
- For one entry: Comment on this blog post and tell me if you plan on retiring early – and if so, what age? If you are anonymous, please make sure you leave your e-mail address in your blog comments.
- For one entry [plus a bonus entry]: Tweet about the contest, linking back to this post. Add @krystalatwork to the tweet so I can count your entry on Twitter (mandatory). Throw Tim’s Twitter name (@canadiandream) in the tweet, and get a bonus entry!
Rules:
- Open to Canadian and U.S. residents only (please note that the author is Canadian).
- Contest closes June 24, 2011 at 5pm PST.
- The winners will be picked using Random.org.
Good luck to everyone! :)
67 Responses to “Book Review & Giveaway: Free at 45 by Tim Stobbs”
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I will try to retire early. If things go well it should happen around 52.
am i the only person that loves my job? i don't want to retire early!!! my job is one of my favourite things in the world. i have great coworkers, i get to travel to great places and am constantly challenged and rewarded. i plan on taking more vacation time as i progress in my career (i'm 32) but i don't plan on retiring early… in fact, i'd love to work on contracts even after i'm eligible for my pension. i do love books like this though, whether you retire at 45 or 65 i think an understanding of retirement from different viewpoints and perspectives is important.
I plan to retire at 60ish, I guess.. I've never thought about it! I need this book to inspire me!
I plan to retire fro my career as soon as I start having kids. Preferably 33. Doesn't mean I won't work again but I probably won't do what I'm doing now ever again.
I am aiming for age 48, but the plan is definitely at its beginning stage. I call it the "in 12 years for 12 years plans" — the in 12 years is probably self-explanatory but the "for 12 years" part refers to the length of time I would have to live off my savings before I would start getting a defined-benefit pension from my work at age 60. If I don't retire early and stick it out in the federal public service, I'll be looking at retiring at about age 58. Not bad, but I'd rather do it sooner.
I would really love to retire by 45 but it might be closer to 50 when I retire.
Hope to be semi-retired by 50 and fully by 55.
My dad retired early (at 54!), and he's a big inspiration to me.
I'd love to retire early! Maybe 50? No idea how to get there, so I've been reading up on financial articles, articles about investing, etc. which is how I ran across your blog! muskratybyte@gmail.com
[...] gmbmfb for Give Me Back My Five Bucks, 2011. | Permalink | 57 comments | Post tags: [...]
I would have loved to retire early, but alas, life happened. So, it was at age 45 that I had to start all over again…….and hopefully not make the same mistakes, or even new ones! But, as I know have step-daughters leaving university, I would like to be able to share this book with them – after of course, I figure out how to fast-track rearly retirement – the sequel!
I'd be happy to retire at 45, but of course if I can find a way to retire earlier, all the better ;)
I really want to get my life and finances in order so I can help my parents, who are both approaching 55, retire sooner. I know they would like a lot of things for themselves and I don't want to stand in their financial way for longer than I have to.
I don't plan to ever retire. For a couple of reasons; a) (like Krystal), I have a Chinese Canadian background. My goal is to increase the financial standing of my entire family. b) My goal is not to retire but to gain a lifestyle where I can choose to work or not to work when I want. So the goal is to not be driven by money but by what job interests me.
I'm not rich. But the way I've gotten there is a) I work in my passion. If I wasn't working, I'd still be in the industry in some way (I'm writing a book on the topic outside of work, and I'm involved in blogging, outside of work). b) I am lucky in that I am in consultancy. I hope to make a name for myself and a reliable source of clients so I can start my own company. I'd like to be in a place where I can work when I choose and take holidays when I choose.
Overall, i've been very lucky. My parents are in banking so I've had a good education on retirement savings. I always make a contribution whenever I've worked, but I hadn't been working full time consistently. But even when I wasn't working consistently (and uneligible for RRSPs), I've been putting money away in my savings for my own retirement pension.
Good work Krystal! I'm glad I found your blog!
And I've tweeted as well!
35. Two books I'd recommend are early retirement extreme and your money or your life
The book looks great! I hope my husband and I can retire around 50 or so. My husband wants to take on consulting/contract work at that age so he can work on and off. As for me…50 is a nice round number!
I am a realtor and would love to retire early (when the time comes!) or at least transition to a steady investment stream of income from properties.
ckroner@gmail.com
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