Victory Lap Retirement now available

IMG_7669As the accompanying photograph of me and coauthor Mike Drak shows, the book Victory Lap Retirement has finally come off the printing presses.

It will be a few weeks before it is available in bookstores but it can be ordered and delivered now directly through the web site VictoryLapRetirement.com.

At one level you could call the book, which we shorthand as VLR, as the sequel to Findependence Day, the book to which this website is dedicated. However, it is a work of non-fiction so it’s not a fictional sequel, although that project is still on a future to-do list.

The above photo was taken Thursday at Mike’s Toronto home. As you can see from our casual poolside attire, we’re trying to live the lifestyle described in the book, and summarized by the subtitle Work While You Play, Play While You Work.

You can also see the yellow book cover is now in rotation on the front page of the Hub, along with the US and Canadian editions of Findependence Day and the summary Kindle ebooks titled A Novel Approach to Financial Independence.

Victory-Lap-Retirement-BookYou can order any of these books or Victory Lap Retirement by clicking on the book cover image: it will relocate to fulfillment pages, using in most cases PayPal or credit cards tied to it. (The book has been available on pre-order but can now directly be ordered: we will mail copies out as soon as orders are received.)

The official book release date is September 26 and the in-store date is October 10. It should be available in Chapters and other major book stores and independents, plus some mass retailers.

You can see a bunch of testimonials on the Victory Lap website, including from such well-known personal finance gurus as the Globe & Mail’s Rob Carrick, the Star’s Ellen Roseman, the Post’s Diane Francis, BNN’s Larry Berman, CTV’s Patricia Lovett-Reid, and MoneySense’s Julie Cazzin, as well as from fellow financial authors like Gordon Pape, Ernie Zelinksi and Daryl Diamond.

Other media members and bloggers interested in receiving a review copy can request one by emailing Mike at michael.drak@yahool.ca or myself at jonathan@findependencehub.com.

A Retirement book about NOT retiring

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Mike Drak’s Findependence Day: next stop Victory Lap Retirement

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Mike Drak

By Mike Drak

Friday July 29th will be a day that I will remember for the rest of my life. After thirty-eight years, I finally packed in my banking career. I suppose my co-author Jonathan would call this my Findependence Day!

To be honest, it will take some getting used to as my banking job played an important role in my life. It provided financial security for my family and gave me a good reason to get out of bed most mornings.

My career, like most careers, had its good and bad points. Overall though, it was a good ride and one that I will miss to some degree, but I had to leave in order to publish Victory Lap Retirement and create my blog.

Banks really don’t like it when employees write books or blogs because it might not align with the story that they are trying to convey. Banks get nervous when employees stand out and don’t fit in, when employees invent something that is outside the approved message.

Banks are very protective of their brand. They want the customer experience to be the same in every branch across the country. They want every employee to talk, walk and act the same. They desire a high degree of predictable sameness, as it’s easier to control.

Why banks still sell the old version of Retirement

This is not a bad thing at first blush, but it tends to stifle individual creativity, which is costly long term both to the bank and its customers. The danger is that you end up being like every other bank selling the same story and nothing much happens out of the ordinary. Maybe this is why the banks continue to sell the old version of retirement, as it’s easier to sell to the masses. Marketing to the few is not very cost efficient.

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The Gift of Findependence

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Michael Drak

By Michael Drak

Special to FindependenceDay.com

Today there are a number of early-retirement bloggers out there doing great work, teaching people how important it is to adopt a frugal lifestyle so they can quickly regain their freedom.

They continue to preach the merits of “early retirement” but as far as I can tell none of the one’ I follow are really retired. They continue to earn money from some activity but the key difference is that they earn that money on their own terms doing something they enjoy. They have earned the option to take a traditional full-stop retirement but for some reason have chosen not to. The question we all need to ask yourselves is why?

The other day I read an article in the Toronto Star about “Canada’s Youngest Retiree” and his book that outlines the strategy that enabled him to retire at the early age of 34. The article went on to say he authored six national best-selling books after retiring and became a millionaire through investing.

Why not retire at 14 and make millions revealing how you did it?

I found the article interesting and said to my son Austin (who still lives at home): “Why don’t you pack in school, and retire? Being 14 years of age we could probably get you into the Guinness Book of Records as the earliest retiree on record. Then all you have to do is write some best-selling books about how you were able to retire at such an early age, go out on the seminar circuit and preach to everyone about how you were able to do it.

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Canada’s next youngest retiree, 14-year-old Austin Drak?

You will make millions as people always want to find the quick-fix, the easy way to become financially independent without doing all the hard work. Austin was really excited about retiring and not having to go to school anymore but then the Contessa got involved and let’s just say that was the end of that.

I’m concerned we are being oversold on the illusion of early retirement as if it will be the solution to all our problems. Believe me on this, it will not be. You still need to have a well-thought game plan for what you plan to do for the rest of your life. In simple words, you need to find something fulfilling to do. Based on their actions most of the early-retirement bloggers and Canada’s Youngest Retiree would seem to agree.

A Retirement Lesson from my Father 

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Blog Tour for US edition of Findependence Day kicks off on July 27

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Findependence Day (US edition)

The publisher of the U.S. edition of Findependence Day (available from Trafford.com in hardcover, paperback and ebook formats; click here to order) is organizing a blog tour for the book that kicks off Monday, July 27th and winds up on August 7th. Click here for the Indie Book Tour, or see below.

As of this summer, the US edition is now also available through two book distributors: Ingram and Baker & Taylor, as well as American libraries.

Here’s the current blog tour schedule for Findependence Day.

July 27

Write and Take Flight 

http://writeandtakeflight.com/

Harmonious Publicity 

http://harmoniouspublicity.com/

July 28 

Carpe Librum 

http://carpelibrum1.blogspot.com/

Read Between the Ink 

http://readbetweentheink.blogspot.com/

July 29 

It Feels Drafty 

http://itfeelsdrafty.blogspot.com/

Fiction to Fruition 

http://fictiontofruition.weebly.com/

July 30 

From Paperback to Leatherbound 

http://frompaperbacktoleatherbound.blogspot.com/

The Literary Nook 

http://theliterarynook.blogspot.com/

July 31 

Voodoo Princess 

http://voodooprincess40.blogspot.com/

The Revolving Bookshelf 

http://therevolvingbookshelf.com/

August 3 

The Book Refuge 

http://thebookrefuge.blogspot.com/

The Book Czar 

http://thebookczar.blogspot.com/

August 4 

Lover of Literature 

http://loverofliterature.tumblr.com/

Zensanity 

http://zensanity.blogspot.com/

August 5 

Bent Over Bookwords 

http://www.bentoverbookwords.com/

A Taste of My Mind 

http://www.atasteofmymind.com/

August 6 

All Inclusive Retort 

http://allinclusiveretort.blogspot.com/

Inkslinger’s Opus 

http://inkslingersopus.blogspot.com/

August 7 

The Zen Reader 

http://thezenreader.blogspot.com/

The Dark Phantom 

http://thedarkphantom.wordpress.com/

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How “Findependence” differs from “Retirement”

By Jonathan Chevreau, Financial Independence Hub

 

Road signs to savings and financial independenceHaving planted a stake firmly in the camp of Financial Independence, I’m often asked exactly how the phrase Findependence is different from Retirement.

There are a lot of distinctions between the terms, many of them subtle ones. I often say that Financial Independence means working because you want to, rather than because you have to financially speaking. In the latter case, the situation is akin to the bumper sticker that says “I owe, I owe so off to work I go.”

I may also say that Findependence (I’ll use the contraction of Financial Independence here now) often occurs years if not decades before traditional retirement. There are several Early Retirement practitioners running websites about how they achieved Financial Independence in their 30s or 40s, although they usually add that they continue to “work” in the sense of doing some work for money. That “work” will typically be as an independent supplier rather than an employee and may consist of writing books, running web sites and perhaps publicly speaking. They call this “Early Retirement” but I’d argue the better term is “Early Financial Independence.”

You can find more on this topic by simply googling the term “Financial Independence vs. Retirement.” You’ll find several results, including a couple of articles by me that have appeared in various web sites both Canada and the United States.

Consider this piece from FI Journey entitled Financial Independence vs Early Retirement: What’s the Difference? Here’s how the writer sums it up: “Financial independence is setting an annual income goal for yourself, and putting your money to work in such a way that you can live off the proceeds from your investments without ever reducing your retirement account. If you started your ‘retirement’ with a million dollars in the bank, the idea is that you would die with a million dollars in the bank, whether that was 5 years or 50 years later.”

Working even if you don’t need to do so

Then there’s an article from a year ago featuring a dialogue between two Early Retirement gurus, J.D. Roth of the Get Rich Slowly blog and the blogger known as Mr. Money Mustache: Coming to terms: retirement vs. financial independence. There, Roth notes that both bloggers have accumulated nest eggs that would allow them “never to work again” yet “both of us have elected to continue doing work for money.” Even so, they still consider themselves “retired.”

Mr. Money Mustache, aka “Pete”, replied that only certain personality types will sit around doing nothing in retirement but for him, retirement “just means you’re free to do what you really want to do.”

Roth said they both think it’s possible to call oneself “truly retired” even if they continue to work for money but added that not everyone agrees. One reader maintained that “retiring is stopping doing work for pay.” Then Roth segued to an excerpt from his one-year Get Rich Slowly Course that outlines four types of retirement: traditional “full-stop” retirement at 65 or so, Early Retirement that can occur between 30 and 50, Semi-Retirement and finally a series of “Mini Retirements” that can be distributed at various points of a long career of work.

Let’s retire the loaded word Retirement

Roth concludes much as I would, saying that because Retirement is a loaded word, he prefers to use the term Financial Independence, which he says “is essentially the same idea but without the baggage.” He also talks about something we’ve mentioned in this blog before: that there are degrees of Financial Independence, ranging from dependency on parents or employers, to dependency on creditors, to freedom from debt, to what I’ve called “barebones” Findependence and finally “complete” financial independence. He decides that once you’ve saved enough to fund 25 years of your current lifestyle, you’ve achieved financial freedom.

Jonathan Chevreau is the author of Findependence Day and runs the Financial Independence Hub. This article originally appeared at MoneySense.ca under the title How ‘findependence’ differs from retirement.

 

 

 

 

 

 

 

 

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