Book Description
In today’s volatile financial environment, growing numbers of investors are looking to flee the stock market in search of safer ground. While the bond market has often been a “safe haven,” confusing new bonds and bond funds make it increasingly difficult for unfamiliar investors to choose the correct fixed income investments. The Bond Book provides investors with the information and tools they need to make bonds a comforting, important, and profitable component of their portfolios. Thoroughly revised, updated, and expanded from its bestselling first edition, this all-in-one sourcebook includes: *A new section on using the Internet to research, buy, and sell bonds *A new chapter devoted to increasingly popular foreign bonds *Detailed information on the inflation-linked Treasury bonds *Explanation of the new categories of bond funds *Tips on how to evaluate and buy bond funds
Customer Reviews:
A solid introduction.......2007-09-28
A great introduction to bonds and there place in a portfolio. The perfect place for the individual to start if they are considering purchasing individual bonds for their portfolio.
However, anyone looking for more in-depth information and strategies will likely be disappointed. Relatively little information about Zeros, TIPS and other products that are likely to be of interest. Start here, and then increase your knowledge with a title specific to your interests (i.e. municipal bonds, etc.).
God book but too general.......2007-01-04
I ordered this book for my business library. I enjoyed the book, but if you want more specifics on the methods of detailed bond calculations, I would recommend a good financial investments text book.
Primer on Fixed Income Products.......2005-09-09
Am nearly finished reading the 2nd printing of this excellent tutorial. Although I have been an avid buyer & seller of fixed income products for many years, the author did a superb job of furthering my mid-level expertise especially in the area of municipal bonds. Her plain language explanations were most welcome as opposed to the plethora of financial techno-babble tomes that share the bookshelf. 5 Stars without reservation.
Too Complicated.......2005-04-19
Thau over complicates her points. The book is too difficult to understand. I am an attorney who has been investing in stocks and bonds for over 10 years. This book is not appropriate for any level investor.
Highly Recommended!.......2004-12-22
This is an accessible introduction to bonds by a financial professional whose first book - as unlikely as it may seem - was a study of Max Jacob, the French poet. The literary background of the author, Annette Thau, may account for her book's clear, easy-to-read style. Most authors who write about bonds tend to get lost in the complex mathematics and specialized jargon of the bond markets. Not Annette Thau. Whether you are an individual investor trying to balance your portfolio with bonds, or a student of finance looking for a more lucid explanation of the subject than you can find in your textbooks, we highly recommend this book to you.
Book Description
Do you know what your "number" is? It's the amount you need for your nest egg. Have you saved enough? Can you save enough? The Number offers an intriguing and entertaining tour -- of wealth gurus, life coaches, and financial advisers, and our hopes and fears for the future -- to explore the secrets of the Number. The result is a provocative field guide to your psyche and finances, and an urgently useful book for anyone over thirty.
The Number will help you think about the kind of life you want, and the kind of help you need to achieve it.
Download Description
"Do you know your Number? What happens if you don't make it to your Number? Do you have a plan? The often-avoided, anxiety-riddled discussion about financial planning for a secure and fulfilling future has been given a new starting point in The Number by Lee Eisenberg. The buzz of professionals and financial industry insiders everywhere, the Number represents the amount of money and resources people will need to enjoy the active life they desire, especially post-career. Backed by imaginative reporting and insights, Eisenberg urges people to assume control and responsibility for their standard of living, and take greater aim on their long-term aspirations.
Customer Reviews:
Pulp Non-Fiction.......2007-10-24
This book was a waste of paper and time!
There is much false talk of how Eisenberg has hit "the sweet spot" on the back cover of this book. Bah! Humbug! Sweet nothings is more like it.
Entertainingly and personably written, it is, nonetheless, as informative as a Jerry Seinfeld tv skit about finances.
Eisenberg writes extremely well, but his efforts are all much ado about nothing in the end.
Read the last two short chapters at the bookstore and put the money you save on this hardback book into your 401K.
Get's the reader moving!.......2007-10-24
Look- this book is about ideas, not formulas. I just made an appointment with a Fidelity advisor and I'm motivated.
Fidelity is going to be my "mother ship" in 10 years and I'm driving 2 hours to meet with a field office. The author gave me the idea after his comical discussion on retirement. Also, he brings the humanity into the equation. Thank God somebody has the huevos to bring up the fine points of where we really want to be after slaving for an employer . Living in a planned community is fine for some, but would be purgatory for me and he "gets it". Thanks Lee- I'm going to pass this book on to one of my buddies.
The Number.......2007-10-08
I have read many books about planning for retirement and investing. I enjoyed this book immensely. I see that many reviewers were somewhat disappointed with the book. Since I am from the era of Zen and the Art of Motorcycle Maintenance this book was right up my alley. We all are out there (or should be out there) chasing the number, but as with Zen there is a much bigger picture you must look at then just the number. My wife and I have had several conversations because of this book. As Mr. Eisenberg says in his book you can get a number with only a few taps of a calculator, but what you want to do with the rest of you life is a much deeper consideration. We feel that we are in a much better place to move forward with the rest of our life. Bravo Mr. Eisenberg!
Waste of money.......2007-08-26
Why can't we give "0 stars"? No insightful content. Self-important name-dropping. I felt cheated out of my $20+ for a book saying, "Retirement is about more than money."
More like 3.5 stars..........2007-08-09
A reader's perspective on this book will probably vary a lot based on their individual experience and knowledge. For some it may be eye-opening, for others it may be more like "tell me something I don't know".
It is a fast read, and full of interesting factoids. The history of how people have looked (or not looked) at their retirement plans (actual drawdown and spend, as opposed to micromanaging their 401ks) was interesting.
Pros:
- easy to read, light humored.
- Interesting stats, and good references to experts in the field
- Nice thumbnail sketches of types of individuals and their exposures to risk
- has some interesting frameworks. For example, think about your retirements spending as being equal to 4% of your intended nest egg. If you need more than 4% in retirement, you may need to save more to get your Number up.
Cons:
- may be too basic for someone who has done analysis for their actual long term planning. It should also come as no surprise that the current generation has their own accountability to save for retirement (not the government or your employeer).
- can be alarmist for people...i.e. Guess what, you could be in trouble. And even worse, you can't necessarily trust people who say they are 'experts'.
- middle section of the book drags a bit compared to intro, I thought.
In summary, if you have thought about retirement, but haven't yet really done some detailed planning, this book can be an enabler for how to think about plans. It won't solve your problems, but it will highlight the considerations you should be making.
I tend to believe that people get scared of the complexities in financial planning, when in fact, several basic principles can be applied to help an individual along a reasonably healthy path. The internet provides a lot of resources to do this, but there probably needs to be a better standard primer out there.
Book Description
The financial-service industry wants you to believe that in order to avoid financial destitution, you need to put aside huge amounts of money that you -- let's say it together -- "should have begun saving years ago."
Not true, states Warner, the author of Get a Life. Although a sensible savings plan makes good horse sense, many other actions and decisions will determine whether you enjoy your retirement years.
Get a Life shows you how to beat the anxiety surrounding retirement, and to develop a plan to make your golden years the best of your life by:
* developing family relationships
* maintaining and creating friendships
* improving health
* keeping active
* developing a robust curiosity for the world
* realistically calculating how much money you need and how to secure it
Interviews with successful (and successfully) retired people illustrate how to put Warner's advice into action.
Download Description
The financial-service industry wants you to believe that in order to avoid financial destitution, you need to put aside huge amounts of money that you -- let's say it together -- "should have begun saving years ago." Not true, states Warner, the author of Get a Life. Although a sensible savings plan makes good horse sense, many other actions and decisions will determine whether you enjoy your retirement years. Get a Life shows you how to beat the anxiety surrounding retirement, and to develop a plan to make your golden years the best of your life by: developing family relationships maintaining and creating friendships improving health keeping active developing a robust curiosity for the world realistically calculating how much money you need and how to secure it The 5th edition provides the latest research and studies that show physically and mentally active retirees live longer and enjoy happier lives.
Customer Reviews:
Easy and Fun to Read.......2006-11-11
I enjoyed this book so much, that my boss, brother & sister all wanted copies, so I gave them each their own to read!
This book is right......you DON'T need a million!.......2006-05-02
I have to admit I would have been far more skeptical about the points made in this book if I hadn't seen people already living on far less than a million dollars...and doing just fine.
One lived independently for years (admittedly, not on a champagne and caviar budget, but not poorly,either) and then moved into a nursing home, all expenses paid. This person is happy. Health costs have not driven that person to poverty and the medical care is just fine.
Another friend lives modestly but has family and friends nearby, an active social life and lives in a lovely Arts and Crafts style bungalow, bought for a modest amount and very tastefully decorated. She lives (as this book suggests) a life full of meaningful activities, many of them free, some of them volunteer work, some of them low-cost or free programs such as concerts in the parks or nature programs or lectures. Again, not an expensive lifestyle.. but fully satisfying.
ONE SUGGESTION: If you read this book, it is quite possible that you can start NOW to learn to live on far less money than you may be spending mindlessly today - and not feel deprived. If you do that, of course, you may save even more for your later years, when health issues and other concerns may impact your finances in a less predictable manner than today.
In any case, this is a refreshing change from the books which promote worry and anxiety about not being able to afford retirement. This book advocates finding a happy medium, neither advocating a "no savings" plan or needless worry and obsessions about the future and doomsday scenarios.
Not a bad overview, has some good ideas, but beware..........2006-01-09
The 'Where will the Money come from' chapter , pgs 240-244 on Social Security, is delusional. The author seems to think that Social Security is safe, that pending boomers will get full benefits, and nothing is further from the truth. The author should check the annual letter from Social security that states that withdrawls will exceed contributions within the next 10 years unless something is done. Nothing will be done because our politicians have no spine and are afraid of not being around to milk the tax payer and receive endless kickbacks and graft, all the while being exempt from the very system created as a last resort.
His other ideas are good, however, and worth a read. Id get it from the library first before I decided if I wanted to keep this book around.
An excellent handbook for holistic retirement planning.......2005-11-26
I read this book along with several others two years ago as my husband and I contemplated early retirement. It was by far the best book I read. Most other books were the author's personal musings about what makes for a good retirement. In contrast, Warner's book backs up his views with both solid research and compelling testimonies from actual retirees. He doesn't downplay the importance of financial well-being in retirement, just puts it in context as ONE element of successful retirement. As someone who's now been retired (at age 52) for a year, I can attest to the usefulness of this book. It helped me honestly analyze my own life situation and has been a catalyst for some of the choices and decisions I am making as I create a life without (much) work. Warner's admonishment that you have to start integrating good practices in your life BEFORE retirement is particularly important; for example, if you don't foster close and healthy relationships with your family and friends when you are younger, they aren't going to magically happen once you're retired. Likewise for good health and spiritual habits. I highly recommend this book to anyone, regardless of age, who wants practical and sage advice on building a fulfilling life in retirement.
A few comments.......2005-10-02
Like all "royal road to retirement" advice books this one is a mixed bag with some very sage and wise advice on some topics, but weaker on other topics with a lot of facile generalities and waving of hands in regard to how actually to do it on less than a million bucks. Overall though, I applaud the author's emphasis on quality of life vs. a life devoid of meaning and quality personal relationships but with plenty of money--which is what the financial types will try to sell you. As some wag once said, real money is easy to come by--it just takes a lifetime of hard work. Of course, by that time, your wife has left you, your kids hate you, and you have no friends. What's the point of that? I think a compromise is therefore in order, with a downscaled, more modest retirement but with having preserved one's family and friendships intact. On the other hand, this is America, the land of the Almighty Dollar, to which we all bow and scrape and perform obeisance, and if you've got a gadzillion bucks up the wazzoo you can always buy friends, if you can call them that. And I've discovered that in the U.S., money truly does buy friendship of a sort--at least you'll never be bored and alone on a Friday or Saturday night. Anyway, whatever you decide, this book offers an alternative. The decision is up to you.
Book Description
Let's face it... in today's world, senior citizens and their families face more complicated financial, legal and personal planning decisions than ever before--and making the wrong decisions can be catastrophic. In this book, Steven J.J. Weisman, renowned estate planning attorney and host of the nationally syndicated radio show "A Touch of Grey," offers you practical, simple guidance on every one of these issues. Written with simplicity and humor, Elder Planning uncovers strategies and loopholes for retirement, health care, long-term care, asset protection, investments, taxes, social security, housing, Medicare/Medicaid, estate planning, substitute decision, and more. This book is easy to read and easy to use, making it the indispensable resource for anyone needing to protect themselves, their parents and their heirs.
Customer Reviews:
Good Overview (But lacking in current information.).......2007-04-28
I own this book and found it to be a good source of information on the general world of elder care planning. It brings together the subjects of Medicare, Social Security, Medicaid and housing issues in one place. I was disappointed in that it did not deal with the subject of Medicaid more fully. It should also be noted that this book was published in 2003. This specifically makes the information contained within it on the subject of Medicaid out-of-date and useless to the reader. For an example of an up-to-date book on using Medicaid to pay for care in a nursing home or an assisted living facility please check out The Medicaid Handbook 2007.
Better than Title - Should be "THE Guide..........2006-11-10
With a 17-page index, even an info maniac like myself can find anything and everything in this book.
I can't begin to describe the scope and layout throughout. I'm learning things about elder planning that I didn't even know I needed, not to mention the questions I already had. The author's opinions are woven into the descriptions, along with "Loophole" information on various senior subjects. The author obviously has a birdseye view of many subjects that are skimmed over by columnists that I've read.
The best way to read this book is probably cover to cover, so as not to miss anything.
Not just "Elder" Planning.......2005-09-02
I wish I had read this when I was 20! It provides a bunch of savvy information for any age. It is clearly written, and (surprisingly) an interesting read. I highly recommend it.
Elder Planning Review.......2003-11-13
For each generation it seems that a reference book comes along that becomes the universal guide for the audience it intends to reach. Examples that come to mind are the Farmers Almanac and the Guinness Book of Records. For their intended reader these books are the starting and ending points of the information sought.
Steve Weisman has filled that void for those considering elder planning issues. The book's fund of knowledge takes pains to begin at defining terms and strategies and, only then, provides the advice needed by all. To best illustrate the breadth of topics contained in the treatise, the issues range from asset protection to planning for your pets. The book is of value not only to the elderly but also to extended families facing elder planning issues and provides methods for non-elderly adults to maximize their assets throughout their life. As with any great book aimed at helping the populace, the use of clear, concise language is remarkable. In reviewing the book, I am left with the old refrain, "why didn't I think of that" but I can happily report that Steve Weisman did think of that and his efforts benefit us all.
Aging can be humorous.......2003-11-10
Who would have thought that a topic as seemingly dry and dull as financial and legal planning could be handled in such a humorous fashion while still providing a great deal of helpful information and suggestions for personal planning? This is a book that has important information for everyone, particularly older people, presented in a style that will make you smile.
Book Description
This paperback edition of The Coming Generational Storm has been revised and updated and includes a new foreword by the authors.
In 2030, as 77 million baby boomers hobble into old age, walkers will outnumber strollers; there will be twice as many retirees as there are today but only 18 percent more workers. How will Social Security and Medicare function with fewer working taxpayers to support these programs? According to Laurence Kotlikoff and Scott Burns, if our government continues on the course it has set, we'll see skyrocketing tax rates, drastically lower retirement and health benefits, high inflation, a rapidly depreciating dollar, unemployment, and political instability. The government has lost its compass, say Kotlikoff and Burns, and the Bush administration's spending and tax policies have charted a course straight into the coming generational storm.
Kotlikoff and Burns take us on a guided tour of our generational imbalance: There's the "fiscal child abuse" that will double the taxes paid by the next generation. There's also the "deficit delusion" of the under-reported national debt. And none of this, they say, will be solved by any of the popularly touted remedies: cutting taxes, technological progress, immigration, foreign investment, or the elimination of wasteful government spending. Kotlikoff and Burns propose bold new policies, including meaningful reforms of Social Security and Medicare, that are simple, straightforward, and geared to attract support from both political parties.
Customer Reviews:
Essential Reading - Save Early and Save Often.......2007-08-08
This book should be required reading for all high-school sophomores who are going to inherit the economic problems the authors lay out in the prologue. The more awareness my generation (x) and the younger generations get about the mounting economic conditions we will face within the next 25 years, the better prepared we will all be to fix, or at least adjust to them.
At times the book is a bit too academic and for that I give it only 4 stars but there are parts that you can skip and still not miss the authors' explanation of why we are doomed and what - possibly - we can do to mitigate the situation. Robert Shiller summarizes the points that the authors make below:
"There's a lot of frivolous criticism of our politicians, but this book hits the mark, convincingly documenting their biggest sin: the failure to account for the magnitude of a huge government deficit crisis. The accounting scandals of Enron, WorldCom, and Parmalat pale by comparison. Read this book so you can start preparing for much higher taxes in the future for you and your children."
--Robert J. Shiller, Yale University, author of Irrational Exuberance and The New Financial Order
Perhaps the worst part of all of this is that we CAN fix the debt obligations that are hanging over us but doing so would require massive sacrifices on behalf of all citizens (unlikely since so many of us "expect" the government to play a role in financing our retirement and healthcare) as well as for both sides of the political aisle to work together (even more unlikely in these partisan times when all the Dems and Republicans want to do is blame one another). Failure to grasp the gravity of a $54 Trillion debt obligation and its impact on the quality of our lives will only continue to erode the value of the dollar as more developing nations such as China, India and Brazil increase their ownership of the US by buying up Treasuries that the government continues to issue. Not good, especially when so many of our middle class jobs are being lost to these countries at the same time.
This is perhaps the most important issue of our time. Until voters are heard and a real politician runs on a platform to fix the escalating economic crisis that awaits us all, do what you can to prepare yourself; save as much as possible in both tax deferred and taxed accounts (the latter of which will benefit you in the future since you will likely be in a lower tax rate today than you will 20 years from now when the govt. has no choice but to raise personal income taxes to finance the debt). Also, go to the gao.gov website and click on "Fiscal Wake Up Tour" in the left hand gutter, then click on the CBS New Program 60 Minutes hyperlink. If you dont have the time to read this book, at least read this article and watch the video interview with the head of the GAO office. By that time, the message and its implications should be painfully clear to you.
Informative, but speculative.......2007-01-10
Kotlikoff and Burns rightly portray congress, the president, judges, the AARP, and anyone else who favors increases, or even the status quo, of social security, Medicare, and Medicaid policies as truly irresponsible. The fact that these three entitlement programs will bankrupt the country within 50 years has been known for at least 10 years (when I started to pay attention to politics). Every year, reforms are spoken about, even good ones that would for the most part protect the programs. But every year, the situation becomes worse because nothing is done. And Bush II foolishly expanded Medicare.
On the flip side, economic predictions decades into the future seems fairly irresponsible as well. As is pointed out in this book, other countries are in far worse condition than the US for the same stupidly financed entitlement packages. They will go belly up first. While the US will certainly feel their pain as well since their economies are intimately tied to ours, we will learn from their mistakes and fix our own problems.
All my life, I've been listening that one disaster after another is going to crush us. In grade school, I learned that we would run out of food in the mid 80's through the 90's and billions would starve to death. Didn't happen. Humans now consume more calories on average throughout the whole world than ever before. Then in grade school and middle school I learned that we would run out of energy. Despite the blip of the last year, oil prices have steadily been dropping and they will continue to drop. We will never run out of oil or energy. Destruction of the ozone layer. It's still there. The depletion of our forests. The US today has more forest cover than 80 years ago. Foreign holdings of the US debt. Nuclear war.
And on and on, disaster after disaster that never materialized. Not because the harping drew attention to the problem, but because in the stating of every single problem, the assumption was that nothing would change. That the human response would not adapt as new information and incentives came about. Not a smart assumption.
We will solve the entitlement problem, but, yes indeed, we will have to feel the pain first. And so what? We'll still solve the problem. The sun will rise in the east and set in the west and the US will be around for a long time and in a dominant position, social security, Medicare, and Medicaid not withstanding. The US and the world will continue to become a better place, but in fits and starts.
I've always been an optimist. I really do believe in the power of imagination and human ingenuity.
Generational Fear Should be Great.......2007-01-09
This book gives a great review of the issues facing America in this century due to government give aways. After reading it I found that several current news stories seemed to be confirming the predictions in the book. The numbers are 3 years old, but the suggestions for saving Social Security and Medicare still seem to be valid. I was a little disappointed in the funds listed in the book, but I have received updated listings by visiting the Scott Burns web site.
A Sobering Assessment.......2006-12-05
Per Kotlkoff and Burns (who base their findings on Government projections), the present value of unfunded future liabilities for Social Security and Medicare is $45 trillion (some nine times the size of our "National debt"). The reasons: longer human life spans due to advances in medical science, retirement of the baby boomers, and the disconnect between the consumption of medical services and the responsibility for paying for them.
Drastic action would be required to close the gap now, e.g., (a) increase federal income taxes by 69%, (b) increase payroll taxes by 95%, or (c) cut Social Security and Medicare benefits by 45%. We could make even more drastic adjustments in a few years. Or, we could do nothing and let the U.S. economy go into a meltdown with double-digit inflation fueled by the Government printing money.
Our political leaders are trying to ignore the problem, and, as Kotlikoff and Burns explain, the fault is ours. "The last thing we want is Uncle Sam telling us to save now for a tidal wave of obligations when the baby boomers retire. So we make sure that doesn't happen. We hire [elect?] politicians who tell us what we want to hear."
The authors go on to present a plan for reform, but they don't expect their plan (or other reforms that could save the system) to be enacted. They end with advice as to how workers should attempt to look after themselves and their families if the politicians in Washington "miss this opportunity to save our ship of state."
One thing bothers me about the analysis. Accepting that the fiscal gap is every bit as bad as it is depicted, this problem was created by Government action. Why should we attempt to solve it by giving the Government even greater responsibilities, such as running the world's largest index fund, assessing the health risks of every senior in the country, deciding how much society needs to spend for health care, etc.? It might be more logical under the circumstances to move in the direction of less Government and let people make choices (such as how long should I work, what medical care do I and others in my family need, etc.) for themselves.
Even if the authors don't have all the answers, however, they have diagnosed the problem very well. "The Coming Generational Storm" is entertainingly written and refreshingly nonpartisan (lambasting both Republicans and Democrats with vigor). Don't miss it.
A retort to the complaints about this book.......2006-11-27
The negative reviews of this book tend to note the following: we cannot predict the future and, yet, this book purports to predict what will happen in the future.
On the one hand, this is a valid criticism - it IS true that we cannot predict how things might change over the next few decades. If some changes occur, they may invalidate the predictions of this book. In fact, I would wager that this book ends up being wrong on a number of fronts.
However, one response to this criticism is that the best information that we have about the future is based on current trends. Absent information about unknown innovations, how could we do any better? Using information about current trends is exactly what this book does. Any alternative future is necessarily based on more tenuous predictions.
Moreover, the authors are very, very careful (and I cannot emphasize how careful they are) about the caveats associated with their predictions - they consistently note that no one can predict the future with certainty and that their predictions are based on the best available information.
They then go even further. They consider scenarios that may invalid their predictions such as technological change (i.e. productivity increases) and carefully argue that those changes would be implausible or, at the very least, insufficient to alter the basic gist of their message.
In the end, the authors try a great deal to innoculate themselves against the criticism regarding the uncertain future. They will almost certainly not be correct, and they concede this point throughout. But their predictions are based on more careful analysis than the knee-jerk response that "we cannot predict the future" which ends up being a vacuous criticism since it is not refutable.
What annoys me about this whole issue is that it is quite clear that we are facing a future crisis even if these guys are wrong about the details. And yet our politicians do not have the guts to face up to it. I think that we need a blue ribbon, non-partisan panel that includes serious people like Kotlikoff (who is a serious, well-regarded economist) to consider the issues and make recommendations. Most politicians either do not understand the issues or do not have the chutzpah to confront them. Something has to be done, and even if this book ends up being wrong, at least it's a call to action.
Book Description
Nationally known personal finance expert, Terry Savage, shows readers how to find the answers to their retirement questions. The Savage Number provides the hands-on techniques to plan a successful, satisfying retirement. Savage takes readers beyond "guesstimates" and wishful thinking. Instead, she introduces readers to the world of Monte Carlo modeling—the statistical science of modeling multiple alternatives to come up with a range of highly probable results. The process guides readers through the critical decisions about how to invest their retirement money—and how much they can withdraw to live on—so their money lasts their entire lifetime! Filled with in-depth insights and practical advice, The Savage Number takes the guesswork out of retirement planning, so readers can overcome those obstacles and comfortably enjoy the rest of their lives.
Customer Reviews:
One of the Best!.......2007-07-16
I have purchased and read more than a dozen books resently on personal finance. Almost everyone will get something helpful out of this book. I would say for at least 80% of the Baby Boomers this should be a must read book. The link to Financial Engines is worth more that ten times the price of the book.
I also like All About Asset Allocation by Richard Ferri, and all of Ben Stein's books!
Solid pre-retirement fiscal fix-up.......2006-05-08
Book publishers know a good thing when they see it. That explains why there is yet another book on Baby Boomer retirement planning. But, fear not, "Savage" isn't the description of a fierce retirement savings program that will bite you in the wallet; it's the name of the author: Terry Savage, a personal finance newspaper columnist. In this case, she seems to have linked many of her columns together to form a basic book for novice investors who are planning for retirement. While much of the content may seem very familiar to anyone who reads mainstream financial publications, having it in book form is convenient. We recommend Savage's nuts-and-bolts information to people who are just entering the workforce, novice investors, financial planners and human resource people concerned about issues affecting retirees. It is also a handy quick reference for questions about Medicare, reverse mortgages, long-term health insurance or estate planning. If you are on the verge of retirement, it's a good refresher, although you needed to know most of this some time ago.
The Savage Number.......2006-03-20
My plan is to retire in five years. I have been reading and studying several books to make sure that I am on the right track. I would recommend this book because it gives you a pretty clear picture of what you need to be considering prior to your actual retirement.
Quite revealing!.......2006-01-23
As a babyboomer, I am concerned about my ability to be able tor etire comfortably. Too many other books repeat stale, outmoded advice. Some people I know have followed advice from 'financial experts' and newsmagazine columnists and their retirement accounts are still bleeding red for the last 6 years.
For starters, Savage like Suzie Orman is a true expert. She has studied personal finance and investing. She doesn't just write about personal finance, she lives it.
Savage recommends diversification in good investments. What really caught my eye was here advice on writing covered calls. Too few so called financial 'experts' talk about covered calls. It is one of the best ways to make money off your stocks without selling them. It is also one of the best ways to recoup losses from your stocks. Covered calls can provide better income than say dividend stocks and dividend stocks are a better strategy than leaving your money in savings accounts, cd's, saving bonds or money market accounts.
Terry Savage offers sound advice. I'm following it myself. This new book by Terry Savage is must reading for everyone and remember, it is never too early or too late to start. If you have made some mistakes or a late starter, then I recommend The Savage Number all the more! Great book. Thank you Terry!
Well written & informative retirement suggestions.......2005-09-16
I bought the book and had it more than half read when I finally was forced to put it down. I appreciate the discussion of Monte Carlo simulations in determining recommendations for the accumulation and draw-down of retirement funds (savings & post-retirement income).
Book Description
Nearly 2 million Americans reach retirement age each year. Before anyone can begin to enjoy all the leisure time ahead, there are difficult decisions to be made about a host of crucial issues, such as Social Security, HMOs, insurance, and estate planning. Written by award-winning Washington Post financial reporter and syndicated columnist, Stan Hinden, How to Retire Happy arms anyone approaching retirement with easy-to-comprehend answers to all their complicated questions. How to Retire Happy:
• Provides practical advice and guidance on the 12 most complicated decisions to make before retiring
• Covers all the bases, from where to live to how to invest, from health insurance to taking money out of IRAs
• Goes beyond financial planning to offer practical advice on the key emotional and psychological issues surrounding retirement
Customer Reviews:
Different book than I expected.......2006-01-16
This was a very interesting book even for those of us who reitred early (in our 50's) because we had not yet had to deal with many of the issues discussed. However, the title made me think it was going to be more about the non-financial aspects of retirement -- the "Happy" part.
Now 6 years into our retirement, we have traveled for a year (and written a book "Live Your Road Trip Dream - Travel for a year for the cost of staying home), done some part time work selling, played with the grandkids, traveled some more, and are continually looking for new ideas to fill our days. As we often say to people, "Yes, we're retired, but we're not dead!" We have our eyes open and looking for new challenges. That's what I thought we'd find in this book. Hmmm, maybe I should write THAT book....
The author presents his topics with candor and real examples, which is very helpful. It at least gives you a general idea of where to start and what the "ballpark" looks like, but I'm still looking for more "happy" ideas.
Helpful Insight From Real Retiree.......2002-12-01
My first observation in reviewing "How to Retire Happy," by Stan Hinden, is that the title of the book is misleading. In fact, the author essentially waits until the last two pages of the book to tell us some reasons why he really likes his retirement. And we learn essentially nothing of his day-to-day activities that make his retirement a happy one. But, despite the misleading title, things turn out to be just fine, as by the time one reads through all the areas that the author worries about or used to worry about relative to his retirement, it is almost like we have lived through those experiences ourselves. We are now more than ever ready to learn more about the fun part of retirement from another source.
But more bad news is the fact that the author waits until age 69 to retire, then goes back to work part-time eight months later, even though both he and his wife have handsome pensions lined up. His conclusion is that he was much better off financially having waited to retire. This less-than-risky leap into retirement is not what most pre-retirement readers want to hear, I would think. Also, since he takes five years into retirement to finish the book, he brings us his views and information on retirement from a perspective of a man well into his 70's, an age that is well-beyond the current average age for Americans starting retirement.
But some good news is that his thoughts couple maturity with the freshness and openness that we're looking for. He tells us his goal for the book is to "take the mystery out of retirement." What he has to say, to me, comes in a style and content that is sincere, authentic, and not preachy or meant to be perfect. And while most of the book's information can be found in countless other books or materials on retirement issues, it is the author's personal-experience perspectives, weaving in and out, that make the book worth reading.
Perhaps the book's best chapter is the one entitled "How Should I Invest During Retirement?" As most experienced investors know, there simply is no one answer for everyone in this area or even for one person all the time. Says the author, "Your goal as a retiree should be to develop an investment portfolio that provides relative safety, current income for living expenses, and the growth of your saving." While we'll all probably agree with this, now what? It's a bit like a baseball manager telling his pitcher, "Don't give him anything good, but whatever you do, don't walk him!"
The author starts this chapter with, "Three years after I retired, I was shocked to discover that if my wife and I didn't cut down on our spending and get better results on or investments, we would use up all our retirement savings within eight years." He gets professional advice to concentrate on cash flow. And after laying out the financial alternatives that he has been provided in his real world, Hinden selects a combination not without risk, in an effort to squeeze out a return that will bring him enough money to buy things he's really counting on in retirement. In this area, he's taken real risk and is not putting us to sleep. His struggle is personal and frank, and his conclusion is more than food for thought.
And while I don't agree with his conclusion in the chapter on long-term-care insurance, he comes right out with his concerns: "I can tell you what scares me. It's the idea that my health or the health of my wife, Sara, might deteriorate to the point where one of us would have to become a resident of a nursing home for an extended period of time." And he shares his fear of "the very real threat that we could be wiped out financially by the cost of that care." What also is refreshing in this section and others is that he gives readers actual financial details for he and his wife that are involved in their decisions. How refreshing to have some real numbers from a real retiree.
Another enjoyable chapter is "Where Do I Want To Live After I Retire?" Again, he shares the personal struggles and explorations that he and his wife experienced in their relocation explorations. He brings this important area of retirement options to life and, as a result, you feel more experienced yourself after having read it. And finally, in his final chapter, "How Can I Age Successfully," his list of the "do's" and "don'ts" relative to growing older are first-class.
Again, perhaps the best thing about this book is that it is full of personal experiences from a guy who is authentically retired. The clear majority of "retirement" books now emerging are written by people who have advice and opinions on retirement, but have no interest in retiring themselves soon. I find this a bit ingenuous most of the time. What Hinden gives us is a view from the inside looking out. It is far from a perfect book on retirement, and most readers will find sections or chapters that they will want to skim or skip entirely. Despite this, I enjoyed reading the book and recommend it highly to others.
Not the best out there..........2002-05-18
A book for the beginner. The financial planning advice was broad in scope, but shallow in depth. For the novice. The book is written in the voice of a person from my parent's generation (I'm 48). The approach to planning here is very conservative and even a bit naive. There were some good passages on trusts and wills. I was also a bit surprised there was no mention of non-financial issues relating to retirement, like personal growth. Money isn't everything. Try the book by Wasik, much better.
Good basic book covers all the important areas.......2002-03-23
Solidly researched and tightly written, this one will answer all the basic question a prospective retiree could have without overwhelming the reader with unnecessary detail or repetition. The author doesn't neglect to cover important side issues such as how to age successfully and deciding where to live after retirement but also covers basic questions such as : Am I ready to retire? Can I afford to retire and How should I invest DURING retirement? All in all, a good, well-balanced guide to retirement planning.
Out of retirement.............2002-03-01
Stan Hinden writes a column for the Washington Post and I've read his column since day one. I cannot say this is the best book ever written on the subject because I've only read three books, but I can say I've learned a great deal about retirement from Mr. Hinden and what I've learned was not taught in the midcareer retirement seminar I attended.
Unlike some who write on the subject, Mr. Hinden is actually retired...well sort of. He took a retirement pension from the Washington Post and then started writing his column on retirement, and now he has published a book on the subject. As Yogi Berra said, it ain't over until it's over.
Mr. Hinden says although you may retire from one job, perhaps you'll go onto another. Many folks retire from several jobs over the course of their life. Others figure out how to retire once and do it before 40. Mr. Hinden's main point is to rethink what retirement means to you. And, it's very important to have a plan for your "retired" years.
Mr. Hinden deals with financial matters, probably not with the comprehensiveness of a financial planner, but he provides enough information to get you started asking the right questions as well as a list of other sources with more in-depth information. A few of his goodies include -- yes, you can arrange with Social Security to make deductions for tax purposes, and yes, you may be eligible for pension coverage from a former employee if you were vested before you left.
Mr. Hinden underwent surgery a few years ago, and he has a great deal to say about medical expenses and health insurance. He also has some things to say about decisions he made prior to retirement concerning his beneficiaries. He also explains some of the mysteries associated with Part A and Part B Medicare. He also discusses the value of long-term health care insurance.
It's never too early to think about retirement planning. I am sending copies of Mr. Hinden's book to all my children so they can begin to think about it. That should boost his post-retirement income by a few cents.
Amazon.com
Personal-finance guru Andrew Tobias slams online trading and praises the Roth IRA in his newly revised The Only Investment Guide You'll Ever Need. This investment bible remains as stimulating and meaningful as it was when it was first published 20 years ago. It's packed with ideas about stocks, living beneath your means, tax planning, retirement, and just about everything else in the financial world. And all of it is presented with Tobias's trademark brevity and ingenuity.
Last revised in 1995, the guide takes aim at a new game in town--online trading. By all means, use the Internet for buying a car or for research, Tobias says. But avoid cyberspace brokers, he says. Point and click enough and you will get slaughtered by commissions, spreads, taxes, and human nature. "It's so easy to click 'OK' a few times and make a $10,000 bet," he warns. "Look how mesmerized we become on a stool in front of a slot machine. Internet investing positively teases you to play." Tobias's favorite new entry is the Roth IRA, which allows you to withdraw your money tax-free when you retire. It's far better than a traditional IRA, he asserts. "Save yourself the trouble of agonizing over the choice and go with the Roth IRA," he writes. "Forget the worksheets." Sometimes caustic and always a skeptic, Tobias believes readers can shape their own financial futures. Just stick to the basics, he says. "By and large, you should manage your own money, via no-load mutual funds," he writes. "No one is going to care about it as much as you." It doesn't matter if it's 1978, 1998, or even 2008. The Only Investment Guide You'll Ever Need still is exactly that. Some things never change. --Dan Ring
Book Description
For readers who are wondering how new tax laws might affect their own personal investments, or how to trade on the stock market with a broker or on their own with a computer, or how to set up a college fund mindful of state regulations, or countless other personal finance questions, it's time to turn to Andrew Tobias and The Only Investment Guide You'll Ever Need. For more than twenty years this book has been America's bible for personal money management. Now it is even more indispensable. Fully updated to cover new legislation, and expanded to include the Internet world, America's favorite finance guide covers every aspect of investing and answers every question about managing money smartly and safely. Concise, witty, and truly understandable, this book offers the best personal finance information for every income level.
Includes:
-- How to save by spending more wisely
-- When to invest in stocks, and when not to
-- Tax strategies for everything, from IRAs to charitable contributions
-- How to set up college funds
-- What does life insurance really do?
-- Is real estate wise?
-- What to do with that big inheritance
and much, much more.
Customer Reviews:
The Gift of a Lifetime.......2007-10-18
When I was a young lieutenant, my uncle gave me a copy of this book. I always had a pretty good attitude towards money, and over the years I grew rich. My secrets? Hard work, savings, investments. All of them are outlined here.
Now I am an uncle. Each niece and nephew get this book when they graduate.
Each copy has a nice little check inside too.
Trite.......2007-10-17
Not an interesting read. Reads like an encyclopedia. Everything is there. A reference, not a strait through read!
Very Conservative Approach.......2007-10-05
A better title for this book would be " The Only Really, Really Conservative Investment Guide You'll Ever Need." In the author's preface. Mr Tobias marvels how the world has changed since the original publication in 1978. The Guide has been updated frequently so that you will not find any outdated references. In fact, you will be referred to numerous websites in the course of the author's discussions.
Mr Tobias is an advocate of "minimal risk" which is to say he thinks the majority of us would be better off saving rather than trying to get rich by investing. Well there is nothing new about that and it is presented in a flippant and I thought condescending tone.
So the first half of the book is very conservative advice although why he advocates Timber as an investment is beyond me. I think the same argument could be made for soybeans or for sod.
The second half is an excellent primer on the stock market which I feel
is worth the price of the Guide alone. I would recommend this book for anyone looking for a basic investment guide with the understanding that it is not a get rich quick reference.
Good updates.......2007-08-07
We were very pleased with the updates Mr. Tobias has made to his book. It lives up to its title. Well worth the price.
Ok.......2007-08-06
The book is decent but "A random walk down wall street" contains the same information this book does (and more). Random Walk is also written better with more details.
Book Description
Retirement is closer than you think.
The clock is ticking. Each day, retirement gets closer. And as guaranteed benefits like social security and Medicare are being threatened and our life expectancies are growing longer, workers like you have more to worry about than before when building a nest egg for retirement.
In Retire Worry-Free: Money-Smart Ways to Build the Nest Egg You Need, the editors of Kiplinger's Personal Finance magazine explain how to calculate how much you will need, how much you can count on from Social Security and pensions, and, finally, how to fill the gap. Whether you'll need thousands or hundreds of thousands to retire and maintain your current lifestyle, Retire Worry-Free will teach you how to:Get the most from your pension and 401(k)Decide between traditional and Roth IRAsMaximize tax-favored savings plans if you’re self-employedHandle early-retirement offers and lump-sum distributions to avoid pension-payout trapsProtect your nest egg with the right amounts and types of insurance
Packed full of charts and tips, Retire Worry-Free is a must-have resource for anyone planning for their retirement.
Customer Reviews:
This book is great..........2006-03-20
This book is well-written. Easy to understand language with examples to illustrate points. It is well worth a look.
Loaded with workbook pages, charts, and information for calculating net work and retirement income.......2005-10-11
Kiplinger's fifth edition of Retire Worry-Free: Money-Smart Ways To Build The Next Egg You'll Need holds even more relevance with every passing year, as companies continue to trend to phasing out and reducing lucrative retirement benefits. From getting the most out of UIRA and Roth IRA accounts to maximizing tax-favored savings plans for the self-employed and handling lump sum distributions, Retire Worry-Free is loaded with workbook pages, charts, and information for calculating net work and retirement income.
Easy to read & very informative.......2005-09-03
This is a great book for people looking to find out options for retirement savings. There are enough numbers to give you the big picture but not so much to bore or confuse. The numbers are scary (looking at how inflation affects your money) & uplifting (compounding interest tax free/deferred growth). It shows the big picture with lots of options to succeed. It's a great book for people looking into retirement planning but may be a little soft or general for experienced investors.
Books:
- The Change Handbook: Group Methods for Shaping the Future
- The Change Monster: The Human Forces that Fuel or Foil Corporate Transformation and Change
- The Changing Sky: A Practical Guide to Predictive Astrology
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- The Essays of Warren Buffett : Lessons for Corporate America
- The Executive Director's Survival Guide: Thriving as a Nonprofit Leader
- The Fifth Discipline Fieldbook
- The Fifth Discipline: The Art & Practice of The Learning Organization
- The Great American Tax Dodge: How Spiraling Fraud and Avoidance Are Killing Fairness, Destroying the Income Tax, and Costing You
- The Lean Manufacturing Pocket Handbook
Books Index
Books Home
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- Living Room Lectures: The Fifties Family in Film and Television
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General
| Popular Economics
| Business & Investing
| Subjects
| Books
The Bond Bible
Naked Guide to Bonds: What You Need to Know--Stripped Down to the Bare Essentials
The Strategic Bond Investor : Strategies and Tools to Unlock the Power of the Bond Market
The Only Guide to a Winning Bond Strategy You'll Ever Need: The Way Smart Money Preserves Wealth Today
David Scott's Guide to Investing in Bonds (David Scott's Guide)
