Retire on Less Than You Think : The New York Times Guide to Planning Your Financial Future 
asked by shirley49 on November 16, 2006 7:26 AM
Only a few years ago, the question on many Americans' minds wasn't 'how will I retire' but 'when.' Now, with 401(k)s and IRAs at a fraction of their previous value and health-care costs soaring, it's time for a definitive guide book that walks you through the fundamentals of retirement. With his biweekly 'Seniority' column in The New York Times, Fred Brock has earned a reputation for providing frank and pragmatic advice on the changing landscape of retirement. In chapters written exclusively and originally for this book, he offers updated thinking on all the essentials for a smart and secure retirement, including how to - determine new personal finance and investing goals - find untapped asset streams, such as reverse mortgages - deal with the tangle of taxes on pensions, family gifts, and other income - work during retirement - choose a community and housing - maximize your health insurance - assess long-term assisted-living arrangements He offers indispensable tools for analyzing your true costs of retirement, independent of the mutual-fund industry hype and Social Security scares. And a substantial list of national, regional, and online resources as well as worksheets allow you to customize and realize your retirement plan.
Reviews
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This is a great beginners book for people looking to begin there plans for retirement. It is very basic advice with the biggest angle it uses is if you own a large house in a metropolitin area then sell that house and by a small one in a place with a lower cost of living. A retiree could sell their large house in the state of New York and move to Okalahoma City and live like a king off the equity that was in it. The main point of this book is that you do not need 70% of your current income in retirement to be comfortable. You should be able to dramatically reduce your expenses when you no longer work, like eating out,clothing and gas. You should also have all your debt paid off like your cars, and even your house by retirement time. To learn about this in great detail buy this book, if this sounds like common sense move on.I think any book by Dave Ramsey is all that is ever needed on personal finance, he covers everything. From budgeting to retirement.
reviewed by bones on November 24, 2006 2:09 PM
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There is a little useful information in this book, but the main advice is to sell your home in an area where property values are very high and relocate to a less expensive area. This is repeated throughout the sections of the book. If you already live in one of the less-expensive areas and do not have a large house to sell,this advice is little help to you. The author advises things like buying a used car and driving it for many years; haven't most people figured this out on their own? There is a lot of filler in the form of stories about people who illustrate the author's view, many of whom are "indulging their passion for bicycling" in retirement.
reviewed by jbritt on November 25, 2006 2:43 AM
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Fred Brock does it again. This book is loaded with practical and invaluable information. This should be required reading in high schools and universities. It's a quick and easy read, but is filled with tons advice. My favorite aspect of the book that many people fail to realize is cost of living in different parts of the country and how it affects your quality of living. For example, if you earn $35,000 in Wichita, Kansas and can get the same job in San Francisco, CA making $50,000, your quality of life has a high potential to decrease based upon the cost of living. People need to think of these things before deciding where to take a job.
reviewed by mountaindew on November 26, 2006 9:23 PM
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There are two helpful ideas in this book. Number 1, calculate your retirement needs yourself and don't rely on the "expert" that say you need 80% of your pre-retirement income. Number 2, if you retire before 65 you will need health insurance, so shop for that wisely.
Besides that, the book is a blatant and totally inappropriate socialist rant! I'll spare you the details but a book like this is not the place for political campaigning.
"How to Retire Early and Live Well With Less Than a Million Dollars" by Gillette Edmunds is a much better choice!
Besides that, the book is a blatant and totally inappropriate socialist rant! I'll spare you the details but a book like this is not the place for political campaigning.
"How to Retire Early and Live Well With Less Than a Million Dollars" by Gillette Edmunds is a much better choice!
reviewed by sandi on November 27, 2006 10:07 PM