The Essential Retirement Guide

The Essential Retirement Guide

A Contrarian's Perspective

Book - 2016
Average Rating:
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"A Contrarian Twist to Saving for Your Golden Years The Essential Retirement Guide: A Contrarian's Perspective brings a much-needed shift in thinking to the age-old question of how best to prepare for your retirement. This handbook helps you reject confusing, outdated information and figure out how much wealth youreally need to retire securely. In the process, this groundbreaking text discusses when to save, why to save, how to save, and how much to save--providing new insights in an environment that is cluttered with misinformation about retirement planning. This comprehensive resource explains when you should start saving for your golden years, how to prioritize your retirement saving amid other spending obligations, and how much you can comfortably spend each year once you have retired. Additionally, the text provides hard data that underscores the fragility of humans in spite of ever-increasing lifespans and how that fragility should inform our actions in the earlier stages of our retirement. With baby boomers approaching their golden years, retirement planning has become more popular than ever before. This book offers fresh insights on how to: Dispel some of the inconsistent messages about retirement, such as the conventional retirement income target and the 4 percent rule Determine your lifespan and how it is affected by your lifestyle Consider the possibility of long-term care and how it may affect your retirement planning Prepare for the change in spending habits that typically occurs over the course of retirement The Essential Retirement Guide: A Contrarian's Perspective takes a fresh look at retirement saving strategies and guides you in creating a plan that fits your finances and your lifestyle"--
Publisher: Hoboken, New Jersey :, Wiley,, [2016]
Copyright Date: ©2016
ISBN: 9781119111122
Characteristics: xviii, 270 pages :,illustrations ;,24 cm.

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writermala
Aug 22, 2017

There is nothing more scary then the statement that one needs 70 % of our final income when we retire. Frederick Vettese explodes this myth and shows us how we can lead a happy retirement with far less. He takes us through the quagmire of retirement savings step-by-step and at the end of the book most of us will have a contented feeling that we are not going to be below the poverty level in our old age. The age group that this book is suitable for? I would say anybody who is working a steady job can start reading the book as that gives the savings plan a head start. At the other end even those who are already retired can read the book and benefit from it. A wonderful book for your personal library - yes, whether you are in America or Canada.

k
kwsmith
Feb 24, 2017

Written by an experienced actuary, this is a statistical approach to planning your retirement finances well in advance. The author mines data and employs a wide variety of statistical simulations to predict how much cash you're going to need in the future. Even if your retirement is as far away as mine, it's important to start planning now!

t
tikus
Feb 16, 2017

The contrarian prespective, if proven true, leads one to wonder if future benefit payouts from government and company pensions will be reduced since retirees don't really need as much. Private individual pensions will likely have to be increased if required.

h
HandyFellow
Aug 24, 2016

A decent book, which questions much of the common wisdom of assuming you'll need 70% of your pre-retirement income, adjusted for inflation each year until death. The author cites numerous studies, (he is an Actuarial after all), that indicate at 50 years old, people have only a 50% chance of living and not having a serious long term illness, (cancer, heart or cardio-pulmonary issue, diabetes, or the like), to age 70, so statistically you may not need as much money as you do in early retirement, unless it's for long-term care, and even then, statistically, it's usually only 2-5 years in care before people croak. Humble math doesn't lie, and he has the numbers to back up his statements, so the book is definitely worth a read to ensure you have your priorities in the right places.

j
JHCL
May 27, 2016

Five stars - although you don't need to read all the chapters as not all will apply. A good down to earth book. It does assume you have the investment aspect covered and looks at other important aspects beyond that using real world info so typically lacking in the usual discourse. Although I am not inclined to accept the book's main premise (that I don't need to save up 1.8m$ so I don't outlive my money - the 4% rule) : the prose is crisp and succinct and the points well made and supported. If you don't have a govt pension and you are interested in financing the days after work this is worthwhile educational book.

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