The Smartest Retirement Book You'll Ever Read

The Smartest Retirement Book You’ll Ever Read

Format
Paperback
Price
$15.00
 
Additional Formats
  • Paperback
  • ISBN 9780399536342
  • 272 Pages
  • Perigee
  • Adult

Overview

Follow the advice in The Smartest Retirement Book You’ll Ever Read and you will:

  • Find simple strategies to maximize your retirement nest egg
  • Steer clear of scams that rob you of your hard-earned savings
  • Ensure that your money lasts longer than you do
  • Avoid the common mistakes that can leave your spouse impoverished
  • Discover financial lifelines no matter how desperate the economy

“If you want a handy guide that provides information in small chunks, Solin’s book is it.” -Newark Star-Ledger

Q&A

It appears that people’s biggest concern is that they will outlive their money. Other than robbing a bank, do you have one suggestion that will help pretty well anyone?

While much depends how much people save and how smartly they invest before and during retirement, I recommend getting a fixed annuity (also known as an immediate annuity) from one of the low cost providers like Vanguard or TIAA-CREF. With an immediate annuity, you give the insurance company a lump sum and they give you monthly, quarterly or yearly checks for the rest of your life or longer, at your option.

Who can people rely on for advice about saving for retirement?

An advisor whose focus is on asset allocation (the division of a portfolio between stocks, bonds and cash) and who recommends investing only in a globally diversified portfolio of low cost stock and bond index funds. Sadly, the vast majority of traditional brokers and financial advisors would be disqualified from consideration based on these criteria.

Many people’s portfolios were decimated by the market crash and they don’t think they can now afford to retire. What should they do?

Hard times require hard decisions. There is no magic bullet – as some investors duped by the likes of Bernie Madoff will now attest. But anyone can dramatically boost their retirement nest egg by working an additional three or four years. One study showed that these added years of employment increased retirement income by a staggering 25%.

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