5 Great Books for Retirement Planning

A wealth of information is available to retirement planners of all ages. Whether you’re quickly approaching retirement or have just started your career, you can learn more about your retirement options by speaking with a wealth manager and by reading books. Over the years, there have been many informative and engaging books published on the topic of retirement planning. Check out our top five picks.The

1.  New Rules of Retirement: Strategies for a Secure Future

First published in 2004, the updated version of “The New Rules for Retirement: Strategies for a Secure Future” (2016) is designed to help today’s retirement planners cope with the many ways that retirement has changed over the years. For example, today’s retirees often live longer and more active lives in retirement, meaning it’s important to find ways to stretch your money further. While many people are living longer, returns on investments can be lower and taxes higher. The book also offers advice to help you prepare for the unexpected during your retirement, such as high healthcare costs or long-term care costs.

2. How to Make Your Money Last

One major fear older Americans have is running out of money in retirement. As Market Watch reported, about 60 percent of older people are afraid their money will run out before they die. True to its title, “How to Make Your Money Last,” by Jane Bryant Quinn, seeks to give the recently retired tips and advice to stretch their money and avoid running out. Although the primary audience is the recently retired, younger people and those who have been retired for years might find some valuable tips in the book.

3. Where to Retire

Where you end up living during retirement influences how much money you’ll need. “Where to Retire” by John Howells highlights several affordable areas in the U.S. for retirees. Howells offers highlights features of some locations (such as culture and climate) that might make them more appealing to retirees than other areas.

4. Saving for Retirement Without Living Like a Pauper or Winning the Lottery

Written in clear, engaging language, Gail MarksJarvis’ “Saving for Retirement Without Living Like a Pauper or Winning the Lottery” was first published in 2007 and updated and revised in 2012. Its target audience is adults from age 18 to age 60 and it strives to give useful advice in an easy-to-understand fashion. Some of the most useful advice in the book includes figuring out how much you’ll need to live comfortably each month during your retirement and to start saving young. MarksJarvis seeks to make retirement planning more concrete for people by offering them distinct numbers and formulas to help them figure out exactly what they’ll need later in life. NPR published an excerpt of the first edition of the book, which gives you an idea of the voice and tone featured throughout.

5. The Retirement Maze

The Retirement Maze” by Rob Pascale, Louis H. Primavera and Rip Roach not only offers retirement advice, but it also takes a close look at the experience of people who are currently in retirement. The book is the result of a survey of 1,500 current retirees and another 400 pre-retirees, as well as interviews with some of them and the personal experience of the authors. It highlights the differences between those who enjoyed a happy and financially stable retirement and those who didn’t. The main takeaway from the book is that the more you plan for retirement, the better off you’ll be.

Retirement is ever-changing, as tax rules and the number of options available to retirement planners evolve. Working with a retirement advisor and reading the most up-to-date editions of popular retirement books can help you make a plan for a financially secure future.

 

 

Securities offered through TCM Securities, Inc. Members FINRA – SIPC. Advisory Services offered through Triumph Wealth Advisors and BluePath Capital Management.

The access and use of any product, service or links on this website is subject to the terms of this Disclaimer. David Nicholas & Nicholas Wealth Management shall not be liable for any damages arising out of your reliance to any information provided here. The information and materials provided here, whether supplied by a third party websites, marketing materials, newsletters or any form of publication are provided for general information and circulation only. None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any product or financial instrument. It does not take into account of your personal investment objectives, specific investment goals, specific needs or financial situation and makes no representation and assumes no liability to the accuracy or completeness of the information provided here. The information and publications are not intended to be and do not constitute investment advice, and does not warrant that such information and publications are accurate, up to date or applicable to the circumstances of any particular person. Any expression of opinion is subject to change without notice and is personal to the author and the author makes no guarantee of any sort regarding accuracy or completeness of the information provided. You should not make any investment or financial decisions, without undertaking independent due diligence and consultation with your financial advisor.

This blog is designed to provide general information on the subjects covered.  It is not intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Nicholas Wealth Management and its affiliated companies, and their representatives and employees do not give legal or tax advice. You are encouraged to consult with your tax advisor or attorney.

Annuities are generally considered long-term investments. It is intended for a person who has sufficient cash or other liquid assets for living expenses and other unexpected emergencies, such as medical expenses. A fixed indexed annuity is not a registered security or stock market investment and does not participate directly in any stock or equity investment or index. Annuities are not deposits of or guaranteed by any bank and are not insured by the FDIC or any other agency of the US. All guarantees are solely backed by the financial strength and claims paying ability of the issuing insurance company. With the purchase of any additional-cost riders, the contract’s values will be reduced by the cost of the rider. This may result in a loss of principal and interest in any year in which the contract does not earn interest or earns interest in an amount less than the rider charge. This illustration does not take into surrender charges which may apply to early withdrawals.

Purchasing an annuity within a retirement plan that provides tax deferral under sections of the Internal Revenue Code results in no additional tax benefit.An annuity should be used to fund a qualified plan based upon the annuity’s features other than tax deferral. All annuity features, risks, limitations and costs should be considered prior to purchasing an annuity within a tax-qualified retirement plan.Insurance products, including annuities, are offered through David Nicholas, a licensed insurance agent in the state of Georgia.

Securities offered through TCM Securities Inc., 2230 Towne Lake Parkway, Building 800, Suite 300, Woodstock, GA 30189. 404.889.8733. Members FINRA/SIPC. Investment advisory services offered through Triumph Wealth Advisors.