- Books, Literature, and Writing
Review: Your Winning Retirement Plan
Do You Have an Investment Plan? You are Never Too Young to Start!
Are You Ready to Retire?
Many people, especially older Baby Boomers, are starting to realize that they may not have enough retirement income, especially if they want to avoid relying solely on their Social Security benefits. They may have some vague idea about using other assets, such as the money in their IRA and 401K or the equity in their home, to supplement their Social Security, but most people do not have a specific plan.
"J.K. Lasser's - Your Winning Retirement Plan" by Henry Hebeler takes you step-by-step through the process of making a workable retirement plan that will meet your needs ... not just when you first stop working, but for the rest of your life.
This book helps you analyze your current situation, figure out how to invest for the highest possible return, set your plan in motion and keep it going on autopilot ... which is important when you consider there may be times as you age when it could become extremely difficult for you to concentrate on managing your money well. Smart investing means setting up a plan that works even when you are not able to think clearly or give your money your undivided attention.
In trying to plan how I intend to put my own retirement savings to work, I researched several books. In the Amazon reviews of some of those books, the reviewers made statements such as, "While XYZ book is OK, anyone who is serious about retirement planning should read, 'J.K. Lasser's Your Winning Retirement Plan,' instead." After seeing that several times, I decided that I needed to check out this book.
These comments piqued my attention so much that I decided to buy the book for myself and I am glad I did. It is a very detailed and comprehensive explanation of a variety of retirement planning issues, including:
How to use Reverse dollar cost averaging, which will allow your funds to continue to grow, even while you are making withdrawals;
How to make sure you don't out-live your money, which is a major fear of most people who are near retirement or who have already retired;
How to reduce your risk so you can have a dependable income after you retire.
"J.K. Lassers - Your Winning Retirement Plan"
I have used this book to help me with my own personal retirement plan. Everyone needs to sit down at some point and estimate what their retirement income and expenses will be ... and how they plan to fill any gaps.
Planning is Key to a Comfortable Retirement
All of the topics mentioned above are covered in this book and are very important considerations for anyone who knows they want to have a comfortable retirement.
No one should start spending the money in their retirement accounts until they have a clear idea how to make sure their money has been invested correctly and that it will last the rest of their life. This book will help you do that!
I highly recommend that anyone who is thinking about retiring in the next decade or two, or who has recently retired, should read this book, too. I found it very helpful and thought-provoking.