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Bank bailouts. Ponzi schemes. Plunging financial markets. Given today’s dire headlines, planning a secure retirement has become a more critical task than ever.
Now, for Americans seeking safety and stability in a time of wrenching economic change, comes investment educator Julie Jason with this no-nonsense guide, which won the award for Best Personal Finance Book at the International Book Awards and was chosen as the top business book by Booklist. It offers time-tested, rock-solid retirement advice for people of every income level: in addition to showing those on the verge of retirement how to create their own "personal pension,” Jason deftly guides prospective retirees through the otherwise bewildering process of evaluating their needs, anticipating future expenses (and managing current ones), and converting present assets into future retirement income. To achieve this goal, she assemblesand shares with the readeran entire tool kit of self-assessments, tables, checklists, and essential questions.
I purchased this book because amazon.com alerted me to it and because it had all
5* customer reviews. After having read it I have mixed feelings about its usefulness :
On one hand, it provides a good overview of the financial planning process that needs to be followed to determine how much to save for retirement and how much to withdraw during retirement. It also provides a good overview of some of the retirement income products/annuities, and it has helpful checklists to select a financial adviser. Furthermore, I found the chapter on reverse mortgages a useful
introduction to a very complex subject, with several helpful web sites listed.
On the other hand, the book is not detailed enough to do a financial plan, i.e. establish an affordable expense budget in retirement that includes determination of the amounts that can be safely withdrawn from investments. There are better books available that include detailed worksheets to do this, such as... read more
This is an excellent read if you are ready to jump into planning for retirement. It does an excellent job of covering almost all of the things you need to consider. The book is organized well, and topics are covered to give you an excellent understanding of each with a few exceptions.
The annuity topic is well covered, but the fact of the matter is this topic is just to big and complex to be well covered as part of a book, you need to get a book dedicated to this topic to really get the details of each type, but this book does an excellent job of giving you a real good handle on what products are out there and their basic pros and cons.
Second, this book does not cover the Buckets concept, an interesting approach to retirement planning, although I don't plan on following the exact model of the buckets plan, I think the concept is very important to understand so you can consider how to handle the up and down cycle of the stock market and how your financial plan... read more
An extremely valuable and comprehensive decision making framework for pre-retiree and retirees. Beyond what you would normally see in books that cover investing for retirement, this book goes one step further and includes ways to evaluate financial advisors, what they say, and the investment products they sell. Julie's "Don't Be Fooled Rules in chapter 19 are particularly valuable in addition to her "Retirement Risk Assessment" on page 294. This book is an easy to understand and tremendously valuable resource. A must read!
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