Dear International Living Reader,

Before I retired I was a partner in a big public accounting firm in San Francisco. I remember a client CEO of a medium-sized bank trying to shake things up. The bank had been stodgy, family-run for 100 years. The new CEO wanted to streamline operations, offer new products, and compete more aggressively. To do these things, he told me, he planned to hire people with a bias for action.
That phrase--a bias for action--stuck in my mind. I decided that's the way I wanted to live. Vicki and I talked it over and made it a rule. When we're indifferent, we choose the path that involves trying something new, taking a step, or shaking things up. We bias toward errors of commission rather than errors of omission.

Consider small things. If choosing from a menu between a favorite dish or something new, other things being equal, opt for something new. Can't decide whether the weekend trip is worth the hassle of driving out of town? Take the trip. If asked to take on a fund-raising drive--pros and cons, can't decide--take it on.

The rule also works for big things. I retired in 1984, at age 35. A year later a friend suggested I write a book about retiring young. Although the project sounded exciting, for the life of me I couldn't justify the hassle. Lot's of work, little payback. In the end I just couldn't decide, so I followed the rule and took it on. The result was Cashing In on the American Dream, published in 1988 by Bantam Books. The book turned out to be a fun project. With the publicity came the chance to meet other young retirees all over the world. Such pleasant results happen only if we act, if we go for it.
Another example. For three years Vicki and I have been buying round-the-world business class tickets on the Star Alliance. With these tickets we get long stays in our current favorite places (Argentina and Thailand) with stops in the U.S. and Europe to see friends and family. Business class means we move through airports easier and sleep on endless flights better. But this year our Thai travel agent--we always buy our tickets in Thailand--told us the price had gone up to $13,000 for two. Ouch. Only two years ago we paid half that.

What to do? For years we'd been considering an alternative on Malaysia Air. The flight would take us directly from Bangkok to Buenos Aires and back. We could stop in South Africa, either Cape Town or Johannesburg, either coming or going or both. The cost was $4,000 for two in economy class, a huge savings over the round-the-world tickets.

Vicki and I went around and around, we just couldn't decide. Economy class was more acceptable on an Asian carrier, especially if we didn't have to stop in the U.S., with those frustrating airport rules. Still, we'd have to buy separate tickets for trips to the States and/or Europe when we had a reason to visit. So, why not just pop for the round-the-world tickets at the beginning?

Finally the day arrived, and we still couldn't decide. We applied the rule. We chose Malaysia Air. We stopped in Cape Town, managed reasonably well in the back of a plane, and saved $9,000. Cape Town turned out to be a remarkable experience (I hope to tell you about it some day.)

An enthusiastic bias for action brings adventure, healthy challenges, fun, and even mystery into our lives. Usually you'll know what to do, you'll decide easily. Done. But other times you'll list advantages and disadvantages, just like you learned in Economics 101. And even with the list you still won't be able to decide whether to adopt a new investment plan, sell the house, retire, move to Nicaragua, or whatever. I say go ahead and do it. Maintain a bias for action, a preference for adventure. After all, we retire to expand our lives. Stretching our known boundaries sometimes means we have to take a step out of our comfort zone into the unknown.

Paul Terhorst
Roving “Retire Early” Editor, International Living