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.
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