Book Description
For years, financial planners have focused on helping their clients accumulate wealth for retirement. Now, as millions of those boomer clients head into retirement, there is little quality information on how to manage that wealth in retirement. Evensky and Katz, two of the nation's best-known financial planners, asked leading experts to give advisers a toolkit and roadmap to the new landscape. Included are valuable insights and practical approaches for increasing retirement cash flow, withdrawal strategies, longevity insurance, creating portfolios with low volatility, and decision making. Each of the 26 contributors offers fresh research and solutions for forecasting income needs, evaluating client needs, and communicating effectively with clients. Armed with these more effective approaches to distribution and improved methodologies for planning, financial advisers and wealth managers will be able to make their clients? golden years shine ever more brightly.
Customer Reviews:
Money Well Spent.......2007-08-16
I have read over two dozen books on investing and retirement planning and this is among my favorites. First, there are few books which talk to the subject of distribution (as opposed to accumulation) strategies. Second, the authors have chosen to allow other experts to contribute to their book - 25 of them to be precise. So you are not just getting the advice of one or two people, but the opinions of over two dozen renowned experts in the field. There is a tremendous amount of wisdom contained in the chapters.
As anyone who is a student of investing and retirement planning will know, Harold Evensky is quoted routinely and widely recognized as an expert in his field. Simply getting his advice is more than worth the price of admission. An example is the Evensky & Katz Cash Flow Reserve Strategy (E&KS) which is discussed in chapter 11. I have no doubt I will use this strategy in my own distribution planning.
Also not to be missed in the work of Bill Bengen on sustainable withdrawals, which is presented in chapter 13. Anyone who is contemplating managing their own cash flows in retirement (and even those who entrust this to others) should not miss Bill's views and opinions. He is arguably the leading expert on sustainable withdrawal rates in the financial planning business. I would highly recommend that you also consider purchasing his book, Conserving Client Portfolio's During Retirement, in addition to this fine work. Fortunately that book has recently become available on Amazon so it is now easy to find and obtain. I purchased my copy about 9 months ago and had to order it directly from the Financial Planning Association.
While you may not agree with every opinion expressed in this book, it will certainly get you to thinking (perhaps outside the box) and pressure testing what you think you know.
I'm sure I will use it as a constant guide in managing my own finances.
Excellent source of advice.......2007-08-04
I have been reading retirement and investment books extensively over the past 2 years (Graham, Gibson, Slott, Stein etc.) and while some have touched on saving for retirement, few have touched on withdrawal strategy. In this book, Harold has gone to great length to spell out the retiree's psychological and economic needs, and offers up excellent options to address both. That section, plus the other fine chapters by other authors, make this a must-have book for the enlightened counselor.
Excellent Technical Discussion.......2007-03-10
As a recent retiree, who is not a professional financial planner, I found this book very helpful in understanding the "technical" details of various financial planning tools. I was particularly interested in Monte Carlo analysis (which I use) and how this tool can be used to objectively (albeit not in the most easily understandable form for a lay person) quantify my investment portfolio risk.
It was also very interesting in how the Monte Carlo tool is being misused to evaluate risks other than simple investment portfolio risk. I would agree with the authors conerns about how certain financial planners are trying to use Monte Carlo analysis to evaluate risk far beyond the investment portfolio.
Traditional financial planning advice would suggest an ultra-conservative investment strategy high in fixed income securities. For those willing and able to accept the variablity of the stock market, a significantly higher level of income can be generated with little additional risk. Monte Carlo is the tool (properly used) to evaluate investment strategies.
An Important Book for Financial Advisers.......2006-05-24
This collection of twenty essays on retirement planning shifts the focus of much of the current literature from the accumulation of assets to their distribution. "Retirementality" - how we think about and live out retirement (Anthony) - is being redefined by a generation who are living years longer than their predecessors. Indeed, "longevity risk" is one of the central themes of this book. As defined benefit pension plans disappear and the viability of social security is debated, the net reality is that longer living retirees are left with fewer streams of guaranteed life-time income. Making that nest egg last is a challenge. Failure to do so is "the probability of ruin" - to use Milevsky's indelicate phrase.
A number of these contributors see annuities as integral to generating a guaranteed life-long stream of cash. Carey and Dellinger (and Milevsky elsewhere) maintain that investment returns produced by an annuity will always be superior to identical investments outside an annuity because of the "mortality credits" from other terminated annuity policy holders which are factored into the projected income. A chapter on reverse mortgages presents an evenly balanced discussion of this additional source of income for retirees. Considering that half the population who reach 65 may need some form of expensive institutional care (Greenwald), supplemental streams of income may also prove useful to pay for a long-term care insurance policy.
"Sustained Withdrawals" (Benge) seeks to determine a "safemax" - the maximum, annual withdrawal percentage rate from a retiree's accumulated wealth during this "decumulation" (Katz) phase. Determining this rate is another key theme in this collection. The rub is that relying solely on historical average rates of return and conservative withdrawal percentage rates mean little to a portfolio's survival if the sequence of market returns is negative in the early years of retirement. Benge's research looks at different withdrawal rates, asset mixes, various timing strategies, and adjustments to the withdrawal rate when it is a goal to leave nest egg assets as a bequest. Meanwhile, Stanaslovich in "Creating Portfolios With Lower Volatility" raises the bar with a gloomy projection of low returns for a variety of asset classes into the next decade.
This book should be read by financial planners, brokerage advisers working with retiring clients, and informed investors who want to manage their own affairs.
Book Description
Find up-to-the-minute information on housing costs, recreation, climate, health care, and safety for more than 150 affordable, comfortable and stimulating retirement locations from the Pacific Northwest to Florida.
Customer Reviews:
Pubic Hospital for Retirees.......2006-12-25
I don't know if I'll retire there, but I definitely want to go to Murray, Kentucky, and see what the book describes as the largest "pubic" hospital in the lakes area. It "serves" the west Kentucky and northwest Tennessee region....
The concerns raised - both pro and con - are essential .......2006-11-06
If you're looking for a good, affordable place to retire different than the area you know and live in, take a look at WHERE TO RETIRE: AMERICA'S BEST AND MOST AFFORDABLE PLACES. It outlines affordable places across the country, including not just cost of living insights but assessments of medical care, recreation opportunities, weather, social life, and more. Some states receive their own in-depth coverage; others are included with nearby areas. The concerns raised - both pro and con - are essential for any solid understanding particular to retiree budgets.
Diane C. Donovan
California Bookwatch
Book Description
More than 5,000 people retire every day--yet there have been no retirement books that are both informative and motivational until now. 101 Secrets for a Great Retirement encourages and inspires retirees to simplify their lives and pursue their dreams. The authors cover all the essential topics, including health, social life, relationships, financial matters, legal issues, and more.
Customer Reviews:
ITS A PLACE TO START.......2007-01-19
IF YOU HAVE ZERO IDEAS FOR WHAT, HOW,AND WHEN, ITS ALRIGHT.IF YOU HAVE ALREADY DONE SOME HOMEWORK FOR A WHILE SKIP IT.
Practical Wisdom.......2005-08-02
There is a great deal of wisdom in this book by Mary Helen and Shuford Smith. The Smiths cover the practical aspects of retirement as well. The Smiths retired early - ages 39 and 43. They consider their retirement lives extremely rich and provide this guide to fill in a gap that they see in retirement literature. They aren't afraid to tackle issues that many other retirement books don't address, such as the reality of death and sexual changes, while covering the practical aspects of retirement as well.
The construct of the book is in the form of 101 brief essays grouped together in eight categories. The first category, "Make Successful Transitions," is one of the critical sections that make this book stand out. The Smiths discuss the importance of developing a philosophy for life during your retirement years. Many recent retirement books talk about finding jobs, volunteering, travel and relationships, but few acknowledge that we must come to grips with the realities of aging and defining our purpose on earth - our reason for "being," rather than "doing." The Smiths replay this theme throughout the remainder of the book.
If I have one gripe with the book, it's the style of writing. The Smiths have chosen to write in the first person plural ("we," "our"). This can begin to grate if the reader chooses to read from cover to cover, because it begins to sound like a royal "we." Because of this, I recommend reading the book in short bursts, dipping into different essays as appropriate.
In spite of this shortcoming, 101 Secrets for a Great Retirement belongs on the bookshelf of everyone approaching retirement.
common sense, not "secrets".......2005-06-30
I bought this book thinking that the "secrets" therein would enlighten me as to things we might be missing in our planning for retirement. The other reviewers on this site made it sound like the book would have advice on little-known health care deals, finding a good place to live, etc. Instead, it is filled with common sense tips, such as "enjoy sex" and "learn to forgive." Gee, thanks. This might be a good book if you're retired and bored, but don't buy this looking for much more.
Great book for those facing retirement in a few years.......2003-12-31
This is a much more practical book than some of the "100 things you can do when retired" books that suggest babysitting, dogwalking or other simplistic ideas. Mary Helen Smith lists 101 things you should think about or do, like consider what is "quality of life"--for example, downsizing your house versus staying in an expensive piece of real estate, and listing government programs for retirees, something you may not know about. In addition, she stresses understanding about money. Once you are on a fixed income, and one that is possibly lower than your salary, you must deal with money in a different manner. Now is the time to learn about finances and money, not after you've gotten your first social security check. With many millions of people hitting retirement or near-retirement age from the Baby Boom, this is a really good starting-off point to plan out your coming retirement years. Highly recommended.
Practical inspiration.......2000-11-23
I'm impressed by how much information is packed into the conversational style of this book. An abundance of practical information is available without it feeling tedious. Your approach is positive, encouraging, and realistic. Maslow and intuition are acknowledged. Caring ways to honor yourself and others are gently and directly suggested. Thank you for writing a helpful book that will positively affect the lives of those who read it.
Product Description
In today s complex, increasingly-litigious world, you must ensure that your 401(k) investment program is sound and efficient. A well managed investment committee is the key to survival and success. Packed with numerous resources and examples, this clear guide will help you avoid legal and financial pitfalls and find answers to critical questions: What constitutes a prudent committee selections and operating process? How should a committee be governed? How much reliance should a committee place on outside consultants? How should committee members be selected? How are best practices articulated and implemented? You will learn to: Serve successfully on an investment committee Enable effective management Implement a robust investment policy An adept 401(k) investment committee helps you identify crucial issues and get the job done right.
Book Description
This book ranks and profiles 170 top retirement towns and major metropolitan areas according to tax burdens places on retirees. The authors identify the best tax heavens and the worst tax hells.
Customer Reviews:
Very Helpful.......2005-07-17
There are two key words in the title to this book which to those considering retirement are a must: "Low-Tax"! If for some reason you missed that pitch maybe the second clue as to whom the book might appeal to is those on fixed incomes; ie. those who haved retired. Because we all know that taxes are an item over which we have little control, it behooves us to find a place we can stand to live that also might be a "tax heaven" instead of a "tax hell" to use terms supplied by the authors. I found that definitive term well applied by the authors but would not necessarily agree as to their choice of the best places to live in the states which have low tax rates. This book determines places with low taxes based on the things which the average joe pays taxes: personal and real property, income, purchases. Some web sites such as the one produced by the Tax Foundation of America base their ratings on "per capita income" of all taxes, including business taxes and thus don't accurately reflect how individual tax rates might affect the retiree. This book avoids that trap. Now if you can afford to purchase a home in these "tax heavens" you are really set. Remember people who have retired have fixed incomes from pensions, social security, personal savings (IRA's,etc.) and so on. They have to limit governement access to those funds. States with NO income tax certainly have to be a place to start.
disappointed.......2002-04-21
The authors, due to space considerations, do not include the nature and source of incomes used for their comparisons. Without this information, how can one determine if they fit the profile used.
Without knowing the amounts of various sources of incomes used,
I find the book of little use.
Book Description
lark Howard, the bestselling author of Get Clark Smart and host of the nationally syndicated radio program The Clark Howard Show, wants to show you how to get the best bang for your buck-whether you are at the supermarket, buying new clothes, renovating your home, or going to the movies. Learn how to pay $12.95 for a CD that costs $19.95. Find out why a $90 VCR just may work better than a $300 VCR.
Download Description
Clark Howard will show readers how to spend the least and get the best value out of their shopping, dining and recreational experiences. Chapters will include:· Food- saving at the supermarket, restaurants, fast-food, wine, bottled water· Events- finding bargains while shopping for weddings, births, holidays· Family and Children- getting great deals on back to school clothes, buying for your first childetc.· Necessities- finding reasonable prices on clothing, shoes, eyeglasses, cosmetics· Leisure- having fun and saving money on movies, music CD's, books, tickets to sporting events, etc.· Emergencies- not having to shell out too much money on unfortunate problems like plumbing, towing, etc.· Home Improvements- getting the best price on painting, blinds, shutters, carpet.etc.· Cars- how to get a great bargain on tires, oil changes, car washes, repairs· Appliances/ Electronics- how to save on TVs, digital cameras, camcorders, home theater systems, toasters, refrigerators. Clark will also tell readers where the best places are to shop to get the great bargains that he is known to find for himself and his family.
Customer Reviews:
Good info.......2007-09-19
Lots of good tips although many are available from alternate sources. I listen to his radio show and he doesn't seem to have any other agenda than helping people. Good common sense guidance as well as some not so common sense info. Not a necessity but certainly an excellent overall guide to protect yourself and be a smart consumer
Some good ideas, some terrible ones. .......2004-09-27
Clark begins his book by saying that not all of the suggestions in his book are going to work for you. He admits that he doesn't use all of the tips himself. As a result some of his suggestions are accurate and useful, but a few are not.
I found these tips useful. He recommends using coupons where available. Shopping at discount food stores like Aldi's or SaveALot. Before you get major dental work done, get a second opinion. Eat before you go to the movies and avoid the concession stand. At a fast food restaurant get one or two items from the dollar menu instead of the big combo.
This suggestion seemed too extreme for anyone that actually enjoys video games. Follow this advice and your kids will be very disappointed. He suggests buying playstation one games instead of playstation two games because the graphics are all the same. That's like saying McDonald's food is just as tasty as food from the Olive Garden. A more reasonable suggestion would be to never buy a game when it is new for $50+ dollars. You can find most games on half.com for a reasonable price after they are a year old. Everything I have ever ordered there has worked perfectly. Also there are lots of new, quality games for 19.99 in the greatest hits collection. I never pay more than $20.00 for a game.
All in all a good book, it will probably pay for itself in a few weeks if you follow just a few of his tips. The best idea would be to read it in Borders or Barns and Nobles, it probably won't take you more than two hours, less if you skim.
Mostly common sense. Why buy common sense?.......2004-02-18
I'm a big fan of Clark Howard and his other books and radio show. They contain oodles of great money saving info. Clark's radio show and books have saved me well over $900 this year with useful info I did not know about. However, this book was a letdown.
Most everything in this book was common knowledge or common sense. Example: Want cheap clothes, then buy them from a thrift store or discount store like TJ Maxx. Want cheap books, borrow them from the library, or buy them used on the internet. Too often the answer is buy used, or buy at a warehouse club.
I can't recommend this book unless you are a novice at saving money. You are better off saving your money and buying Clark's far superior book, "Get Clark Smart: The Ultimate Guide to Getting Rich in America", which despite its title is not a get rich quick book. That book has all sorts of useful and less known money saving ideas, and a lot of information on how to avoid getting ripped off.
not satisified.......2003-11-19
I have to agree with the other reviewer. I listen to clark Howard as often as I can so I was very disappointed by this book. If you listen to the show and consider yourself relatively frugal anyways, you probably will not learn anything from this book. A lot of it seems like common sense to me.
Very Very good Info!.......2003-06-18
I like Clarks show. This book is great. I didn't really think it was a good idea to take your bottled wine to a fancy restaurant to save $ but the rest was really really good!
Average customer rating:
- Good book, but out of date for picking mutual funds
|
The 100 Best Investments for Your Retirement
J. W. Dicks ,
James L. Paris , and
Charles C. Smith
Manufacturer: Adams Media Corporation
ProductGroup: Book
Binding: Paperback
 Public Finance
| Economics
| Business & Investing
| Subjects
| Books
General
| Business & Investing
| Subjects
| Books
General
| Investing
| Business & Investing
| Subjects
| Books
Personal Finance
| Business & Investing
| Subjects
| Books
| Bankruptcy
| Budgeting & Money Management
| College & Education Costs
| Credit Ratings & Repair
| Estate Planning
| Financial Planning
| Financial Planning Workbooks
| General
| Insurance
| Money & Values
| Money Management for Women
| Money Management for Young People
| Personal Taxes
| Real Estate
| Retirement Planning
ASIN: 1558506098 |
Customer Reviews:
Good book, but out of date for picking mutual funds.......1999-01-07
This must have been a very helpful book when it was first published in 1996. It provides a good discussion of the financial issues one faces at retirement...income, risks, investment diversity. It also reviews good mutual fund bets for one retiring. Unfortunately the usefulness of the 1996 fund recommendations has diminished significantly. It's time for an update!
Average customer rating:
- Like having a best friend help you plan for retirement.
|
The 401(k) Book: Your Last Best Hope for Retirement Savings!
Richard Sasanow
Manufacturer: Henry Holt & Co (P)
ProductGroup: Book
Binding: Paperback
Public Finance
| Economics
| Business & Investing
| Subjects
| Books
General
| Business & Investing
| Subjects
| Books
Financial Planning
| Personal Finance
| Business & Investing
| Subjects
| Books
ASIN: 0805039627 |
Customer Reviews:
Like having a best friend help you plan for retirement........1996-05-19
This book can be useful to anyone who has a 401(k) plan at work--whether you're an experienced investor or don't know which end's up. The author writes clearly but never talks down to readers and acts like he really cares whether you're getting the most out of your plan. He goes through the whole process, from whether you should join (YES) to whether you should ever borrow (NO) and it's nice to find everything you need in one place
Books:
- Retirement Income Redesigned: Master Plans for Distribution: An Adviser's Guide for Funding Boomers' Best Years
- Rise of an American Business Corporation (Fundamentals of Pure and Applied Economics)
- Secrets of Six-Figure Women: Surprising Strategies to Up Your Earnings and Change Your Life
- ServSafe Essentials with the Scantron Certification Exam Form
- Skin Care and Cosmetic Ingredients Dictionary (Milady's Skin Care and Cosmetics Ingredients Dictionary)
- Smart Women Finish Rich: 9 Steps to Achieving Financial Security and Funding Your Dreams (Revised Edition)
- Smart Women Finish Rich: 9 Steps to Achieving Financial Security and Funding Your Dreams (Revised Edition)
- Smart Women Finish Rich: 9 Steps to Achieving Financial Security and Funding Your Dreams (Revised Edition)
- Standard & Poor's Fundamentals of Corporate Credit Analysis
- State of Working America 2006/07 (State of Working America)
Books Index
Books Home
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