The Essential Retirement Guide

The Essential Retirement Guide

A Contrarian's Perspective

Book - 2016
Average Rating:
5
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"The Essential Retirement Guide will detail saving for retirement-- when, why, how, and how much. There is much miscommunication and false information about retirement planning. Inconsistences such as retirement target percentages of final pay, the amount of retirement income needed, and the use of proper investment vehicles, most of which cost hundreds of thousands of dollars more than necessary, all add to the mystification of most retirement planning advice. The book will answer: - When should I start to save? - What takes priority: paying off the mortgage or saving for retirement? - What is the most tax-effective investment vehicle during the accumulation phase? - How should I invest? - How much money do I need to retire comfortably? - How much retirement income will I need? - What percentage of my assets can I spend each year in retirement? - How will my spending habits change over the course of my retirement? - Do I need to worry about the cost of long-term care?"--Provided by publisher.
Publisher: Hoboken, New Jersey :, Wiley,, [2016]
Copyright Date: ©2016
ISBN: 9781119111122
Branch Call Number: ANF 332.024014 VET
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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