Product Description

A companion Workbook to the text Retirement Portfolios

Retirement is one of the most important parts of the financial planning process. Yet only two percent of financial advisors describe themselves as competent in retirement planning.

Constructing a retirement portfolio is viewed as a difficult endeavor, and the demands facing financial advisors responsible for this task continue to grow. The pressures are particularly intense due to events such as the financial crisis and oncoming rush of retiring baby boomers. It is imperative that financial advisors be equipped and ready to create appropriate retirement portfolios. That's why Michael Zwecher-a leading expert on retirement income-has created Retirement Portfolios and the Retirement Portfolios Workbook. In the text Retirement Portfolios, leading retirement income expert Michael Zwecher provides financial professionals with complete coverage of the most important issues in this field. The Retirement Portfolios Workbook offers you a wealth of practical information and exercises that will solidify your understanding of the tools and techniques associated with this discipline. This comprehensive study guide

• Provides chapter summaries and end of chapter questions to the main book
• Test your knowledge of the information addressed in Retirement Portfolios, before you put it to work in real world situations
• Helps you learn to solve problems while setting up tools you can use in practice
• Puts the management of risks related to retirement portfolios in perspective

If you want to gain a firm understanding of the information outlined in Retirement Portfolios, the lessons within this workbook can show you how. ... Read more

Customer Reviews (1)

A Poor Choice
It was a major struggle to get through this text. The author's total concept of "flooring" as a way to build retirement portfolio was, in my opinion, contrived. The two paragraph summary sections at the end of each chapter seemed to say everything that needed to be said - it was just better said and better illustrated by other authors on the subject. This book isn't a worthwhile read for the practicing RIA and certainly not useful for the non-professional. ... Read more

Product Description
The Retirement Revolution is an invaluable resource for anyone who is retiring, losing a job or investing retirement assets.Dan Flores brings over twenty years of experience guiding clients' investments to this in-depth look at the needs of individuals receiving a lump-sum distribution from a qualified retirement plan. In clear and easy-to-understand language, Flores analyzes the lump-sum alternatives and investment strategies necessary to become an informed investor, including: The rules and regulations of lump-sum distributions and IRA rollovers.The penalties and pitfalls of early retirement and how to avoid them.The differences between asset allocation and diversification. How to build an investment portfolio blueprint and monitor accounts. Understanding the importance of product selection: the advantages and disadvantages of individual securities, money managers, and packaged products such as mutual funds, index funds, unit trusts, and exchange traded funds.Strategies for taking income out of retirement plans.The Retirement Revolution is an especially useful resource for benefits and human resource directors to share with employees. ... Read more

Customer Reviews (1)

Highly Recommended!
This book gets the 5 star rating. It is clearly written and easy to understand. Not only does it cover the rules and regulations of lump-sum distributions, but it also clearly explains investment options and how to put together a portfolio. ... Read more

Product Description
A great retirement isn't just about having your financial situation in order.

It's easy to be preoccupied with stock portfolios, 401(k) balances and saving options, but true happiness in retirement comes from simpler, more enjoyable things like an active social life, family time and leisurely travel.

In Retire Happy: What You Can Do Now to Guarantee a Great Retirement, author Rich Stim and Nolo co-founder Jake Warner show you how to become rich in the ways that matter most. They encourage you to balance financial concerns with a lifestyle you always envisioned for yourself.

The book advises you on how to estimate real retirement needs and create a workable savings and investment plan. Even more importantly, it advises you to make personal preparations for life after work, including:

Product Description
It's possible to save thousands of dollars per year in retirement by choosing a tax-friendly retirement town. Learn which towns' taxes are lowest and which are the highest in this easy-to-use guide. It tallies total taxes including state and local income tax, property tax, personal property tax, sales tax and a slew of other miscellaneous and well-disguised taxes then ranks each city's total tax burden for easy comparison. ... Read more

Customer Reviews (10)

Great place to start
Good book that is a great place to start, but I wouldn't take what they say as totally right.Check out their information as tax laws change every year it seems.However, for those starting a search, this is an excellent resource to us.

Flawed
I bought this book based on the reviews. Big mistake. I am not a CPA, but for the last several years I have been researching the overall tax situation for all US states. When reviewing this book I wondered if the calculations were done correctly. For example PA is ranked very low. Meaning it is not a very desirable place to live for retirees based on this book. I don't agree and I don't live there. PA has a waiver on state income taxes for retirees on their retirement accounts even those coming from other states. Also, regarding their property taxes, which has been assessed using the original price of the home when it was built not current value. This can be very beneficial for those owning an older home. I could go on with other states that I wonder if they figured in the right numbers. When the book arrived and after looking at it for about 15 minutes I wanted to send it back and/or call the authors to ask them some questions. Very disappointing. I realize others have given this book high marks. I am wondering if they tried to verify the stats in this book. If you buy this book please verify the information before you move to a state mentioned.

Important information for Senior retirement
This very important book is easy to read, very well researched and of great importance to retiring seniors.Everyone near the age of retirement should buy and read this book.It has been of great help to myself and my husband as we try to decide which state has the least tax burden on retirees.

Good useful Info
This book is useful in making a comparison of hidden costs when moving from one location to another.For those thinking of retiring or relocating to a state that has no income tax it is definitely a useful tool to get a better analysis. In general, I would recommend this book as a good reference source.

Excellent Detail
Excellent detail; a great help in comparing areas of the country and identifying choices for a place to live. ... Read more

Product Description
As corporations and the government continue to shift the responsibility for retirement savings to workers, employees at all economic levels must develop a personal plan to ensure a financially secure retirement. In Double Your Retirement Income, financial professional Peter Mazonas provides readers with the tools and information needed to overcome retirement obstacles. Beginning with a broad overview of the economic realities readers will face, this comprehensive guide helps them take a step back and make an honest assessment of what it’s going to take to retire on their terms. Filled with in-depth insight, expert advice, and illustrative charts and graphs, Double Your Retirement Income shows readers how to effectively manage Defined Contribution Plans, understand Defined Benefit Pension Plans, buy and hold a balanced portfolio of no-load, and much more. ... Read more

Customer Reviews (4)

Our Retirement Security
Peter gives a road map to a successful retirement by doubling retirement income.He offers practical advice on budget, planning, investing with details in the uncertainty of the safety net entitlement of Social Security and pension.

Following his lessons will probably get into a comfortable retirement.However, it requires allocation of resources.Sadly Americans saving rate is negative.This book only concerns personal finance with no attention to personal health.Diet, exercise and meditation will keep baby boomer healthy.If not, there will be no quality of life to enjoy in retirement despite the advance in medicine.A million dollar pension cannot buy too many years in long-term care, and health care.This is a must read book for the preparation of a successful US retirement.

Investing made 'easy'
Mazonas does an amazing job of relating the many complex trends in investment today into practical advice on how to factor these trends into your own planning.In many areas he even helps the average small investor find ways of leveraging their own contributions.

I recommend the book unreservedly, for anyone who wants to understand the bigger picture, whilst being advised on how it applies to their own circumstances.

What a chump I have been!
A must read for all of us underfunded baby boomers. There is something new for everyone. Mazonas lays bare an understanding of why we never got ahead investing I stocks and mutual funds. His reasoning and the math of why index tracking products are our salvation is to good to pass up.

What a chump I have been!I payed for my kids education out of pocket each year because I could.Mazonas' explanation of how much better off I would be now if I had used student loans and while funding my pension plan is astounding.

Investing should be boring.
This is another book on the never ending topic of retirement. As many others it claims to have the formula that will allow you to retire with more money than you thought possible. It advocates invest all your retirement portfolio on index funds that track the market. Without judging if this is right or wrong; you should use caution as with any other "magical" investment mix and do what's best for you.

Mazonas tells us that by investing in those funds the savings on commissions and fees together with the miracle of compounding interest we will be able to beat 80% of the investments vehicles out there. Well, I have two problems with that; First if you are invested in securities that consistently appreciate 10% or 15% a year (and they do exist) and that pay dividends you are still better off than with index funds. Second, many 401k out there do not offer index funds, or if they do you may have only one option. And I hope you know better than to put all your money in just one basket.

So take it for what it is, another book with sound advice, but remember is not the Bible.

One annoying point is that we are continuously being directed to the author's website. RetireYes! to make use of the tools offered there. Well, there is no tools or forms or anything of the sort there, apparently it is a work in progress and it's not completed.
... Read more

Product Description
The friendly guide for retirees who want to get back into the workforce

More than 76 million baby boomers will begin retiring in 2011. Eighty percent of boomers expect to continue working past the age of 65 due to financial and healthcare concerns (seniorcitizensguide.com, 1-06). Working After Retirement For Dummies shows retirees and workers approaching retirement age how to stay in the workforce and thrive after 65 or get back into the workforce after retirement. The book covers new job searching and resume writing; how to overcome employer myths about retirement age workers; and the flexibility of various career options from telecommuting to job sharing. In addition, it also covers nontraditional job search methods that work particularly well for seniors. Even retirement age workers who just want to volunteer their time will find helpful, straightforward advice on getting back to work at any age. ... Read more

Product Description
The bestselling guide to the best places to retire in the United States.

Completely revised and updated, Retirement Places Rated is an indispensable reference for the estimated 40 million Americans who will be 65 or older by 2010. Dividing the United States into 18 regions and 200 cities, towns, and   counties, retirement quality-of-life expert David Savageau draws a detailed statistical portrait of each locale, ranking each for cost of living, climate, crime, services, employment opportunities, and leisure and recreational amenities. A rundown of the top 30 overall retirement places along with assessment tools, easy-to-read graphs and charts, interpretive commentaries by the author, and extensive appendices help retirees evaluate their relocation choices and make the right move.

For the seventh edition, new features include:

• 22 new places
• A new chapter on housing, with   data on shelter choices (homes, condos, apartments, and mobile homes), plus home prices and property taxes
• An expanded   ambience chapter, and   new data on age, education, politics, and diversity
• An expanded services chapter, with new data on air travel, physician specialties, and hospital services
• Easy-to-use relocation resources, including Web sites, addresses, books, and other information
• David Savageau Washington DC has traveled throughout the country since 1982, visiting locations that attract older adults. He wrote the "Quality of Life" column for Expansion Management magazine, and has been a featured speaker at the U.S. Department of State’s quarterly seminars on retirement.

Customer Reviews (26)

Where would you like to be in the next 5 years?
I had read the 6th edition at least 4 years ago and wanted the 7th edition to see if there had been changes to the Best places to retire.My main concern being the economy in the areas.Very little had changed some of the ratings changed and a few of the places.Over all it was the same book with more recent statistics.Retirement Places Rated: What You Need to Know to Plan the Retirement You Deserve (Places Rated series)

This is a must read when approaching retirement.
This book's greatest value is breaking down ratings by catagories so you can select what is most important to you. One person may value weather more than the next person that is interested in cultural opportunities, while your neighbor may value safety as a top priority. It truely gives you the picture based on what is important to you. Must read!

Good overview of regions of the country
Previously I have used Places Rated for reference and it is much more comprehensive than Retirement Places Rated.This book focuses on smaller communities and is limited in that respect.It also gives general information about working in retirement, housing, medical care and personal safety that is readily available in other sources.The section on climate is most comprehensive and helpful.Otherwise, I will mainly use the links to websites for further information about communities of interest to me.Since I am more likely to retire close to a larger metropolitan area, this book is not a lot of help.

Retirement Places Rated
Overall it is well written.I do miss the earlier format as is had much more statistical data.This current format is good for readers who don't like to really dig into the data and make more more analytical avaluations.I happen to like statistical data so I can slice and dice to come up with my own "best choices".I have the two earlier editions so I can cross reference to some extent.I really look forward to the next edition which will reflect the current foreclosure/subprime mess and possibly result in more affordable places to retire.

Well organized. Well written. Clear
Book contains a preference inventory based upon real data. It helps narrow ones preferences and then focus on areas that meet personal preferences. It also provides ratings of all of the major retirement areas. It is an invaluable tool. ... Read more

Product Description

Customer Reviews (5)

A choice pick for those who want to be fully prepared
Your retirement is your statement that you are set for life, but without being smart about it, that's a tougher statement to make than ever. "Next Step: A Practical Guide to Planning for the Best Half of Your Life" is a guide for readers entering their golden years and want their retirement to act as if is, so they can stay retired through their retirement years and make it so money is the last thing on their minds. Medical care, divorce, nursing homes, and many more elements of twilight life, "Next Step" is .a choice pick for those who want to be fully prepared.

Stellar Guide for Planning Your Future
Next Steps is a must read book for anyone 20 and above who wants to establish a plan for the best years of their life. Although many of us wait too long, the earlier one gets started the better life they will likely have in their senior years. The authors of Next Step believe in the team approach to planning, and rightly so. With a myriad of topics and potential situations to consider, a knowledgeable team of experts helps us stay on point in our planning process.

Next Steps establishes a detailed map to follow. We will then be guided further by the team we set up for ourselves or our loved ones. Not only are our senior needs discussed, but the topics of divorce issues, multiple marriages, cohabitation and domestic partnerships, and planning for our pets are also included. All in all, a great book for all ages.

A special thanks to Linden Press for providing a complimentary copy for me to review.

Next Steps: A Practical Guide to Planning for the Best Half of Your Life (The Best Half of Life)

Must Read for Boomers
This book is chock-full of valuable and pithy information for most baby-boomers, especially those with elderly parents/in-laws. The sections dealing with long-term care planning, durable health care power of attorney and Medicare and Medicaid were especially helpful to my spouse and me. We purchased several to give to family members as Christmas gifts!!

A Must for Boomers
I have read the Next Steps column for years in my local newspaper, and was happy to learn the authors have now written a book.This is a book on how to prepare for "successful aging," and it's full of information that I need right now, as I am 61 and planning to retire in the next year or two. The chapter on health care planning was especially useful to me.Baby Boomers need to read this.

Must Have!
Breezy and easy to read and straight on point, helps anyone with a situation you (elderly) may be in or like me (with elderly parents) this book funnels all the blather on how to arrange a simple and straight forward plan. This book comes from their columns which you can get going back into the 90s at the book's title plus adding .com to it. These two know what they are writing about. ... Read more

Product Description
AT LAST, SOUND, INFORMED, REALISTIC ANSWERS FOR RETIREMENT FINANCE

Use the simple, step-by-step guidance in J.K. Lasser’s Your Winning Retirement Plan to double your money for your golden years. Whether you’re forecasting how much you need to be saving for retirement or are deciding how much you should be spending once you’re there, acclaimed planning expert Henry K. Hebeler can get you the results you need. You’ll analyze your investments and start getting the highest possible returns––with the least amount of risk; take a real-world look at your total financial picture, without inappropriate planning assumptions; and make use of a new concept called the Retirement Autopilot, which can help you budget more wisely today and ensure that your investments will last a lifetime.

Key coverage will help you:

• Beat reverse dollar-cost averaging so your money will continue to grow
• Make use of modern feedback theory to secure your finances today––as well as tomorrow
• Find solutions to different retirement scenarios, including early retirement and when only one spouse is retired

Customer Reviews (10)

If you can only get one book on financial retirement planning....
If you can only get one book on financial retirement planning, this is the one to get.

It is not an easy, feel good, read. Instead it is a great reference that you will often come back to read.
Great companion to their amazingly detailed Excel spreadsheet for managing/tracking your retirement
investments.

A Rudder in a Sea of Misinformation
I was fortunate to meet Mr Hebeler in 1995 at an economic summit during which he explained the difficulties of retiring.

I purchased his spiral-bound books back then for $15 each and learned the painful truth of his affordable fractions.

I still remember one cartoon featuring two big, nasty looking bulldogs. They were labeled "taxes" and "inflation". The caption read: After feeding both of these there isn't a lot left over for you.

I still have vivid memories of realizing a comfortable retirement was going to be the end to a very careful journey. Fortunately I was 35 at the time and there was plenty of time to plan and execute the path to retirement.

I laugh out loud when I read the criticisms of this book saying it is too outdated and there are easy to use, web based programs that make retirement planning simple.

The problen with simple programs is that they are simple. Life takes many twists and turns. Even if you were able to accurately project the 30 year average of inflation and investment returns, the order in which you receive them makes a tremendous difference in your success of failure.

Read this book and you'll see the folly of projecting constant rates of return or inflation.You'll be able to use realistic figures in the retirement planning software.

One shocking discover I kind of knew, but faied to grasp, was the tremendous drag the high annual expense costs of the average mutual fund had upon a sound retirement. The average mutual fund charges 1.5% per year to manage the fund and many index funds are as low as 0.2%. One could construct a well diversified portfolio of stocks, bonds, cash, and real estate with a cost well under 0.5%. That 1% difference is huge when compounded over 30 years!

Don't buy a cheap software program to base your retirement upon! I use the $49 Excel spreadsheet fom www.analyzenow.com . This isn't pretty, but it does the basic job. It's a deal at that price. Check what a financial planner charges per hour.

I also use a program from MoneyTree called Silver 4.0 which was recommended to me by a CFA whom had used it for himself. It's not cheap. $450 and $225 a year to maintain, but it is pretty. When I feed it the conservative estimaes based on the recommendations Mr. Hebeler advocates in his book, The numbers make sense and I can see how the cash flows from the retirement accounts for the next 45 years.

This book doesn't cover all the bases you'll need for retirement planning, but it does cover the assumptions you'll need for basic planning.

Lasser Let Me down
Lasser is a known name in the consumer 'financial' publishing business. This book about retirement planning is very outdated and even misleadingin some areas.The calculations it asks the reader to do are with pencil and paper.As my daughter used to say "A,DUUh!" There are a myriad of easy PC based tools in the market that are far superior.I would have returned the book the next day if I bought it at a local book store.

Financial Realism in Retirement
This is what happens when a highly qualified person writes a book to help others understand their retirement finances so that they can realistically plan and feel as comfortable as is possible with their present and future financial well-being.
It is based on realistic historical and mathematical facts. The planning methodology is as good as it gets. I can't say enough about how useful this book has been to me to say nothing of the confidence I now have in my personal finances. It's not enough to say that Mr. Hebeler is to be congratulated!

Good stuff
This book is different that others I have read and makes much more sense.Just wish I had it 30 years ago. ... Read more

Product Description
Grounded in reality and focused on the possibilities, Mapping Your Retirement is your personal guide to a happy, healthy, and productive life. The editors have compiled research-based information and inspiring wisdom from the field s leading experts and visionaries into an easy-to-use workbook. From finances to health, to relationships and spirituality, explore the territory ahead with confidence. Create your own map to an engaged and fulfilling retirement. ... Read more

Customer Reviews (3)

Great workbook
I wanted a book I could use to think through the issues of retirement, since I was having trouble getting my mind around the concept.I had already done the financial planning part, but the rest of it was hanging me up.This book is very helpful as it walks you through difficult issues, such as community support, moving to a different area, and who are my friends. The book uses sets of questions that you answer by filling in the blanks.This helps when you want to review the issues later.One can also make notes about what is missing in one's planning and what needs follow-up.This book becomes a retirement planning companion, not just a book you read and file on a book shelf.

Useful Resource
"Mapping Your Retirement" is a very useful resource and should be read by people BEFORE they retire.Each chapter gives good materials for stimulating thinking and beginning the planning process.The worksheets are especially helpful.

A great book if you are ready to think about your retirement
I am a 55+ someone who is getting serious about retirement in the next several years. I really enjoyed reading through each of the main sections of this well-organized book. It is divided into 3 main components - Life, Health, Money (as the title indicates) and each starts out with ways to get you thinking about how that section affects your personal situation. As you progress through the section you end up with a place to fill out a check-list of things you can do as next steps to complete your planning.

Since I am a bit of a planner, I had already done much in the way of health and money preparation, so these sections helped me confirm my existing strategies. However, the Life section was relatively new territory for me, as I have not zoned in yet on how I will spend much of my free time in retirement. The book really helped me by challenging my pre-conceived notions on what I might be doing, and made several great suggestions on how to think this through. Since each section of the book can stand on its own you can tune up the parts of your strategy you feel need the most attention and use other parts as refresher or confirmation as needed.

I recommend this book to anyone who likes the personal guide approach to figuring out things and is willing to spend the hours required to work through the content and make their own plans. There is plenty of rich content there to help anyone. ... Read more

Product Description
This unique reference guide gives prospective buyers the information they need to evaluate--before they buy--their compatibility with the lifestyle and culture of 99 of America's leading residential and recreational communities. Includes financial and lifestyle checklists. ... Read more

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Customer Reviews (3)

As ordered
Book arrived in good time, very good quality. Good information to help retirement decisions plus if you already live in Pacific Northwest, gives useful information for trips, travels around the area.

Sketchy book not oriented toward budget readers
I was diappointed by this edition. It seems aimed at retirees whose incomes are higher than most.

I was dissappointed that there was not more information about Tacoma.Since Seattle has become so expensive, Tacoma has become more attractive because of lower housing costs (and, heck, you are just 30 mi fron Seattle if you want something from there.)

disappointed
I've read lots of books that discuss retirement places so I was eager to get one that specialized in the Pacific Northwest.I was anticipating lots of reference-type information that itemized relevant statistics about the areas and allowed me to compare my two top choices:Spokane, Washington and Portland, Oregon.To my dismay, the book NEVER EVEN MENTIONS Spokane.How can you have a book about the Pacific Northwest that doesn't even mention Washington's second largest city? There are only 24 pages on British Columbia so do not buy it for that either.The only major factual data provided is that of climate, income taxes, and general real estate prices.It is written in a narrative style that requires you to read through the entire passage--it has mostly qualitative type descriptions that reflect the authors' impressions and opinions about the areas.I had hoped for more of a reference book that compiled important information about the various areas all in one book.The travel guides I purchased provide more useful details that this does. ... Read more

Product Description

Customer Reviews (8)

excellently written
Well written,informative.Doesn't come off as terribly biased.Not afraid to give the negative info along with the positive.
Totally enjoyed and would buy others that this author has written.

Choose Costa Rica for Retirement
Fast and excellent customer service on order.

Excellent information and review.I will be awaiting the next edition since information always changes.

Great job.

Costa Rica - complete info
What an all inclusive book! Puts all the information you need at hand and gives you lots of choices for further investigation.

Excellent resource
This book (8th edition) is a frank and helpful look at the practicalities of moving to Costa Rica.I especially appreciated the information about altitudes and temperatures of the various locales where expatriates tend to live, detailed immigration information, and considerations for renting or buying real estate.John Howells has a wry, self-deprecating wit that I found refreshing and his writing is entertaining as well as very informative.I found this book more helpful and much better written and edited than "The New Golden Door to Retirement and Living in Costa Rica."

Excellent Overview of the Subject
I just finished reading the 6th edition. The book really does a great job of discussing the many aspects of making the move to paradise (aka CR). The advice about importing vs buying a car alone was worth the price of the book -- that's the kind of useful info you just won't find in most of the books about moving to CR. He also does a good job explaining the rather daunting problems of employing people in CR (the rules are worlds different than in the US).

I especially appreciated that the author admits when he doesn't know absolutely everything about a given subject. Makes me feel I can better trust the information he does impart. I also appreciated that he wasn't hawking his services like many similar books (he does suggest you visit his website, which is fine -- no hard sell or anything).

The 6th edition was, I felt, a little light on language issues. I have found that not many Costa Ricans outside the tourist industry know much English but the author seemed to gloss over the fact that you better know your espanol when you make the move (unless you plan to lock yourself up in one of those expat enclaves -- ugh!). If you want to move to CR and not get taken for a ride by shady gringo characters your best defense is to learn Spanish so that you can deal with the Ticos yourself. ... Read more

Product Description
As Baby Boomers make the transition into their 60s, they have focused policymakers and the media's attention onto how this generation will manage the retirement phase of its lifetime. This volume acknowledges that many, though not all, in this older cohort have accumulated substantial assets, so for them, the question is what will they do with what they have?

We offer a detailed exploration of how people entering retirement will deploy their accumulated assets in the near and long term, so to best meet their myriad spending, investment, and other objectives. The book offers readers an invaluable study of emerging issues regarding assets and expectations on the verge of retirement, including uncertainty regarding life expectancy and morbidity. It is composed of chapters from a distinguished set of authors including a Nobel Laureate and a wonderful mix of academics and practitioners from the legal, financial, and economic fields.

This volume represents an invaluable addition to the Pension Research Council / Oxford University Press series. It will be especially useful for analysts and consumers concerned with ways to position, invest, manage, and spend retirement assets; financial advisers and academics debating ways to effectively manage assets in retirement; and lawyers and policy experts evaluating regulation for the retirement payout marketplace. ... Read more

Customer Reviews (1)

Forthcoming Journal of Pension Economics and Finance review
Recalibrating Retirement Spending and Saving. John Ameriks and Olivia S. Mitchell, eds. Oxford University Press, 2008, ISBN 978-0-199-54910-8, 320 pages. doi:10.1017/S1474747209004077
Two leading researchers, John Ameriks and Olivia S. Mitchell, have organized and contributed to a highly informative and thought provoking book aimed at enhancing retiree financial decision making and security. It provides new analyses that helps us better understand the behavior of the retired population and a number of practical ideas. All the articles are uniformly good, and I comment only on a selected few.
2 Book reviews
The first section of the book covers key issues affecting retirement security. Sewin Chan and Ann Huff Stevens analyze the HRS to measure the extent of ``retirement reversal, '' and they find that about one in three older people move from a more retired to less retired state at some point. Combine that with the tendency to a variegated path to retirement, rather than retirement at once, highlights the need to re-conceptualize what retirement means. Erik Hurst conducts a careful analysis of several datasets to evaluate declines in consumption after retirement. He demonstrates that most types of spending stay the same or increase, but work-related consumption, such as for clothing, transportation, and expenditures for food, do decline. Less spending for clothing and transportation are easy to understand, food expenditures are more complex. But Hurst shows that, in most cases, retirees do not suffer a decline in the quality of food; rather better shopping habits and increased home production are mainly responsible. About one-fifth of the retired population does suffer a decline in food expenditures caused by economic want, and many of those experienced a health shock and retired involuntarily. This leads Hurst to the interesting suggestion that insurance products be developed to protect people's consumption when they suffer a health shock.
The second section addresses the impact of tax policy on Individual Retirement Account (IRA) withdrawals, bequests, and the ideal timing of Social Security claiming. Sarah Holden and Brian Reid offer an excellent analysis of withdrawals from IRAs. They show that individuals tend to hold onto IRAs as long as possible, and Required Minimum Distributions (RMDs) are the main reason for withdrawals. To some extent, this indicates that tax policy has worked to keep these accumulations for retirement and old age, and to some extent it indicates a desire to maintain principal. James Mahaney and Peter Carlson contributed an excellent article on the ideal time to claim Social Security. They show that, for most primary earners, claiming benefits as late as possible is beneficial. Today, most workers do not do that so more effective claiming strategies can importantly strengthen financial security.
The third section brings forward a number of new ideas for financial strategies and products that promise to help retirees manage their assets more efficiently. William Sharpe, Jason Scott, and John Watson demonstrate convincingly that two financial strategies frequently recommended by financial advisors are sub-optimal. Specifically, it is inefficient to move assets from equities to fixed investments, when not accompanied by advice on how to adjust spending to market conditions. For example, it can be dangerous to propose the typical ``4% rule, '' which advises that a retiree should start withdrawing this fraction of assets and then adjust upward by inflation, particularly when accompanied with advice to keep a substantial asset allocation in equities. The authors propose a better rule than one tied to investments.
Several articles deal with annuitization and health. Cassio Turra and Olivia Mitchell use modeling, supplemented by an analysis of HRS data to indicate that health conditions and anticipated out-of-pocket health care expenses often make life annuities sub-optimal with current life annuity pricing, which assumes anti-selection. The authors conclude that life annuities that provide higher payouts when there is a medical shock would make the product more attractive to many. John Ameriks, Andrew Caplan, Steven Laufer and Stijn Van Nieuweburgh examine the impact of Medicaid aversion and the bequest motive on receptivity to annuitize. Medicaid aversion is the level of undesirability of depending upon Medicaid to pay for long term care costs. They find that people who desire to leave an estate and the Medicaid-averse desire to have cash, making life annuities less attractive due to their lesser liquidity. This leads the authors to suggest annuity structures that provide additional funds if the need arises for long term care. They model the higher level of interest for these products among the segment who have no bequest motive and are Medicaid-averse (the best target market for this product). Finally, David Brazell, Jason Brown and Mark Warshwsky discuss a combination life annuity and long term care insurance approach, one granted tax benefits under the 2009 Pension Protection Act. Combining insurance protection against long term care costs with a life annuity is believed to reduce anti-selection, reduce the cost of long term care insurance, and help extend protection against covered risks.
Book reviews 3
One of the book's important contributions is its deeper understanding of the retired population's heterogeneity and the need for specific solutions for key segments, particularly since many retirees are not in excellent health. Overall, the articles cover important topics and are well researched, and it offers a welcome mix of authors, both academics and practitioners. The volume will be of interest to a broad range of people, providing academics with new insights and suggestions for research questions, policymakers with suggestions for enhancing retirement security, private market product designers with new ideas for insurance products and insights on target markets, and financial advisors who will find a critique of some commonly used financial strategies.
MATHEW GREENWALD
Mathew Greenwald & Associates, Inc. ... Read more

Product Description

Retirement portfolio guidance for finance professionals

Retirement is one of the most important parts of the financial planning process. Yet only two percent of financial advisors describe themselves as competent in retirement planning.

Constructing a retirement portfolio is viewed as a difficult endeavor, and the demands facing financial advisors responsible for this task continue to grow. The pressures are particularly intense due to events such as the financial crisis and oncoming rush of retiring baby boomers. It is imperative that financial advisors be equipped and ready to create appropriate retirement portfolios. That's why Michael Zwecher-a leading expert on retirement income-has created Retirement Portfolios.

• Examines how portfolios should be prepped in advance so that the transition from "working" portfolio to retirement portfolio is smooth and seamless
• Outlines how to create a portfolio that will provide income, continue to generate growth, and protect assets from disaster
• Details the differences in managing a retirement portfolio versus managing portfolios during asset accumulation years

The ability to create retirement portfolios and manage their risks are skills you must possess to be an effective financial advisor. Retirement Portfolios will help you develop these essential skills and gain a better understanding of the entire process. ... Read more

Customer Reviews (4)

From Reviewing the Galleys to Reviewing the Book
I can now move this review from a discussion of the galleys to a discussion of the book.

Yesterday, most clients were accumulation and investment focused. They used to say: I want you to build my wealth. Today, more and more clients are becoming distribution and retirement income focused. More and more of us are hearing more and more of them say: I want you to create a smooth standard of living.

Retirement income portfolios are about creating a smooth standard of living: First build a floor, then expose to upside.

Mike's book details what we call the "engineering approach" in the Retirement Income Industry Association's (RIIA) Retirement Management Analyst designation (RMA).

This is an important book that helps Financial Advisors and their Clients build retirement income portfolios with the tools and knowledge that they currently have.

This is why we call it the engineering approach: Work with what is on the table to deliver on the changing client goals.

It is also the first required reading in RIIA's RMA curriculum.

Disclosure: Mike and I are also the co-authors of the RMA curriculum (edited by Kerry Pechter).

For more information see: [...]

A New Comfort Zone for Financial Security
This book helped me put my financial matters into perspective.I am an international hospitality marketer, so I understand business, but never felt confident with my handling of a retirement portfolio.

Michael Zwecher is not only a financial guru, but a pretty darn good writer, as well.I was actually able to learn how to communicate my needs to a broker in order to create the retirement package that will fit my scenario.I was pleasantly surprised with how much I learned, and how well equipped I feel to relay to my broker just what I want and what I want to avoid.

I think Retirement Portfolios will be beneficial for professionals and non-professionals alike.

Great book, made sense.
Retirement Portfolios is a great book! From the first chapter I could see that this book was going to be different than most finance books. Kind of like Freakonomics, the author explains behavior within the context of a framework but without using the framework to pigeonhole. As a book about contextualizing client behavior for the goal of building a broker or planner business I've never seen a better book. This guy gets it.

A must read for retirement advice and planning
I'd heard about this book from a friend of a friend who described it as "probably the most important book of a generation". I was skeptical, but its a topic that I like reading about so I bought a copy. So far I've skimmed the book, but I can see that this book delivers the goods.

I've never seen a book that describes in such a concrete way how to create portfolios for different types of people. This has everything from background economics to market segmentation. The case studies in the book are worth the price of the book. The segmentation chapter is worth the price of the book. There are several other individual chapters that are themselves worth the price of the book.

I haven't looked at the workbook yet, but I'm already in love with this book.
... Read more

Product Description
In preparation for retirement, we are often urged to build up our financial portfolio or perhaps down-size our home or move closer to family. Often neglected in this process, however, are the psychological ramifications that come with the transition into retirement. It is important for retirees to make a plan for their retirement financially, but also to take stock of their psychological portfolio at the same time. This means taking an honest look at how your sense of identity will change with retirement, how your relationships and support systems may change, and how your sense of purpose will be affected.

Revitalizing Retirement gives unique guidance on how to create a happy, fulfilling retirement. Nancy K. Schlossberg, a counseling psychologist and author of Retire Smart, Retire Happy, describes the secret to a happy retirement. She encourages readers to reshape their identity, relationships, and purpose. She discusses several coping skills that deal with accepting change and help retirees continue to feel that they are vital members of their community and that they matter.

Each chapter contains stories from actual retirees that demonstrate the numerous ways of pursuing an enjoyable retirement. There are short quizzes and discussion questions at the end of each chapter so that readers can reflect on what they have read and see exactly how it relates to their own lives. This book is a must-read for anyone considering retirement in the near future as well as current retirees who may be struggling to find happiness in their daily lives. ... Read more

Customer Reviews (6)

Pre-retirement must read
As a Certified Financial Planner, I had spent years looking at the financial aspects of retirement.Unfortunately, I had not read Nancy Schlossberg's book as well.Retirement is more than just dollars and cents; it's the loss of identity from the workplace to the "what place."This book should be required reading in every pre-retirement program offered in the public and private sectors.I believe people would be a lot better prepared for their retirement years if they read this book along with all the financial planning books about retirement.

Revitalizing Retirement
I bought for my husband.He started reading it.Said it had good points but never finished it.

Great Book, Great Service!
This is an insightful book on the ins and outs of retirement.Just what I was looking for; just what I needed.

A wake up call..........
Just finished "Revitalizing Retirement" and I found it to be a great read, especially in light of the current chaos in the American economy.

Nancy's work was insightful, current and compelling. She provides a road map for choice with great insights for any who wish to understand and thrive in their"Golden Years."

I must admit that my answers to the quizzes were not what I would have anticipated. A seriuos wake up call for me as I head into what used to be considered retirement years. The only constant is change. I will refer "Revitalizing Retirement" to my friends and neighbors. It could not be more timely, IMO.

Finding Purpose in an Age of Change
Change is all around us -- as we live longer, face an unsteady economy, job loss, and a faltering sense of confidence -- with mental, physical,emotional and spiritual transitions that seem overwhelming -- Nancy Schlossberg provides a recipe for empowerment tofulfill the most human of needs -- to matter, to be needed, to have one's life make a difference. ... Read more

Product Description
Discover proven methods for determining a client s life insurance needs and close more sales than ever before with the helpful hints throughout. Unique charts, checklists, and real-world examples help immediately apply skills and identify the impact of new regulations on existing paradigms. Tools & Techniques of Life Insurance Planning features extensive coverage of 10 policy types with quick comparisons.
4th Edition offers expanded reviews of the latest:

Life settlements & insurable interest
Assets held by variable life insurance or variable annuities
Income & transfer tax consequences of life insurance
Variable annuities versus mutual funds
New split dollar regulations for old & new arrangements
always matching product to problem with revised formulas, worksheets and rules of thumb!
Guides through the process of evaluating existing life insurance plans and formulating new strategies. Provides a comprehensive introduction and focuses on substantive discussions and applications of each plan. Some techniques examined: buy-sell agreements; charitable planning; death benefit only plans; qualified/nonqualified plans; IRC Section 162 plans; key employee life insurance; roles of revocable and irrevocable trusts.

Authors simplify by defining Tools & Techniques; indicating when to use; analyzing advantages/disadvantages; identifying tax implications; addressing alternatives; calculating fees or other acquisition costs involved; selecting best client-based plans. The appendices consist of technical explanations of: generation skipping transfer taxation; treatment of modified endowment contracts and IRC Section 1035 exchanges; benefits income taxation; transfer for value rule.

Newly Revised delivering sweeping changes from COLI Best Practices Act of 2006, PPA of 2006, and TIPRA of 2006. Life Insurance, PACE, and CFP® CE Filed.

Chapters to feature: the top 12

How to Estimate the Insurance Need
Legal Aspects of Life Insurance
Variable and Variable Universal Life
Irrevocable Life Insurance Trusts
Key Employee Life Insurance
Accelerated Death Benefits and Viatical Settlements
Survivorship Life
Buy-Sell Agreements
Life Insurance in Qualified Plans
Section 162 Plans
Death Benefit Only (DBO) Plans
Special Policy Provisions and Riders
Delivers value at any knowledge level introductory, overview & review!

NOTE: Achieve 100% Correlation with CFP® Certification Examination Topics List when using Tools & Techniques of Life Insurance Planning, 4th Edition in combination with Tools & Techniques of Risk Management for Financial Planners, 2nd Edition. The Bundle of 2 is available for $132.90. Use Product # 8080002.

Testimonials
In each of our books we had one major goal in mind: To create the single best source of up-to-date, pragmatic and transferable information on the topics you need to help others.

Stephan R. Leimberg, Lead Author of Tools & Techniques ... Read more

Customer Reviews (2)

Review
The product is in good condition. It took a little while to get to me, but still got here before the "estimated arrival" of a month later. Exactly what I wanted, I'm happy with my purchase.

The best guide.
Life insurance planning is a very complicated issue. Must people think that is just a matter of buying an insurance from an agent, but there are many other considerations like: survivors needs, estate tax issues, compensation and benefits, business succession and wealth transfer.

The Tools & Techniques of Life Insurance Planning is the best guide for any insurance or financial planning professional. Also is very easy to understand for today consumers. ... Read more

Customer Reviews (4)

Worse than the Worst PowerPoint Presentation
If ever you've sat through a presentation in which the speaker followed a PowerPoint template and asked yourself, "Could anything be worse than this?", this book is the answer and the answer is "Yes, much worse!"
Stephan Leimberg may know something about employee-benefit and retirement planning but his writing skills might best be used to torture prisoners at Abu Ghraib.
For chapter after chapter, he follows the same deadly template: "What is it?, When is it indicated?, Advantage, Disadvantages, Design Features." For paragraph after paragraph, he follows the same hackneyed formula: Bland, meaningless string- I can't say sentence; so I have to resort to computer language to describe the assemblages of words he puts between periods- followed by another string that begins with "however", "although", or "but." Apparently he didn't write this book; he word processed it. Having conjured up an incoherent notion, he characteristically begins the next sentence with something along the lines of "This can often...." What the "this" refers to, not even he could figure out. As if all these travesties were not awful enough, he greatly prefers the passive over the active voice.
Besides being useful in the war on terror, the book might serve well for beginning courses on "How to Edit Pitiful Writing." Almost every sentence contains at least one example of how not to write.
Well, now I've told the truth and feel guilty for trashing the book and its author. Is there something nice I can say about Stephan Leimberg? The nicest thing I can think of to say is this: Maybe he didn't actually write the book.

Not for average consumer
I do not recommend this book as a main source of information for the average reader.It is informational, but probably incomplete and not useful in deciding which plan to implement.It is used as a supplement (not even the main textbook) in an advanced Certified Financial Planning (CFP) course.Students in this course already have proven knowledge of key concepts regarding taxes, investments, risk management-insurance, etc.This is tough education/training that is being undertaken by people who's main job is (will be) to advise on these subjects.

Informative But Organized Poorly.
The other review for this book refers to it as dry. Frankly, I have yet to read a riveting book on the retirement plan regulations. Liemberg touches on all the relevent topics that can arise when planning a retirement program for a company or an individual. What makes the book so tedious is that so much of the first 250 pages covering the various retirement saving vehicles rehash the same ERISA/IRS regulations every chapter. Chapters 25 through 27 which sumarize these regulations should be at the beginning of the book and then each chapter covering a retirement plan would only need a table referring to them. Liemberg instead tortures the readers with them in virtually every chapter from Ch.s 8 - 24. The meat of the book is then followed by about 25 short chapters covering all sorts of additional corporate benefits such as life and health insurance and reimbursement plans.Leimberg should be applauded for including so many topics but should have gotten his act together with the organization after 8 editions. For those of you that need to read this for the CFP or related professional tests, I suggest reading chapters 25-27 before reading Ch.s 8-24.

Poorly Written Textbook
This is a poorly written textbook. It is dry, uninformative and lacks any cohesive organization that would make the material easier to understand. The author uses a set template for each topic (Advantages, Disadvantages, Tax Implications etc.) that sometimes fits and sometimes does not fit the topic at hand. In more than one case, there are bullet items that repeat the same text as previously bulleted items. This is just sloppy editing and a lack of attentiveness ... ... Read more

Product Description
An all-you-need-to-know introduction on how to save and plan today for a comfortable retirement tomorrow

Smart Ways to avail yourself of the different company-sponsored and independent retirement accounts available to you right now

• Smart Advice on how to get the most out of your IRA, Roth IRA, Keogh, and 401(k) before and after you retire
• Smart Strategies on how stocks, bonds, and mutual funds can grow your retirement savings and provide you with an income after you've stopped working
• Smart Tips on insurance to protect your retirement savings against unforeseen problems such as divorce, disability, and unemployment
• Quick reading and easy referencing with a comprehensive index and loads of sidebars and tables

Smart Guides take readers seriously. They satisfy even the most curious person's desire to know the essentials about any of a wide range of topics—from vitamins to mutual funds to stress relief. It's all about good reading and expert information. The choice is yours. ... Read more

Product Description
Life after work no longer conjures up images of couples wandering the malls, playing golf, and taking endless Caribbean cruises. As baby boomers reach their 50s and 60s, they are redefining what it means to retire. Many of them are still choosing to work or create a whole new life entirely. What they crave is vitality, joy, and meaning in their lives. Author David Borchard has been helping adults reju­ve­nate their careers and lives for 30 years. In The Joy of Retirement, he shows readers over 50 how to reinvent themselves and achieve the kind of fulfillment and mean­ing in their lives they have always dreamed of. Now, readers can start crafting their future and discovering their passions with advice on topics such as:finding new interests that make the most of their unique talents * planning their lifestyle at 50+ * assessing what transitions they are ready and willing to make * defining priorities and goals * establishing their criteria for success * mastering the seven steps to maintaining vitality Revealing and hopeful, this is a book that will reshape how people look at the second phase of their lives. ... Read more

Customer Reviews (5)

The Best Yet on Planning For Retirement
David Borchard and Pat Donohoe have provided a real gift to people anticipating the many faceted dimensions that thoughtful people deal with when they face retirement. The entire book is filled with helpful information but the quality that makes this book stand out from the rest is the many assessment lenses they provide in looking at the landscape of retirement. An instrument to assess the lifestyle options include looking at your preference for leisure, new work, stability and serenity or change and adventure. This is of particular value to couples who might hold widely divergent views around what this stage of life should look like. Pat and David make you think about roles you are leaving and and assist you in establishing new criteria for fulfillment. There is great help in scoping out location priorities and, of special value is the information they provide on relating and behavior changes that can be thought about in advance. This is really well done and I am telling everyone I know at this stage of life about this helpful contribution.

Gloria Wallace
Psychologist and Executive Coach

Look it over before you buy....
Perhaps aging is really very simple.Because most of the guidance this book offers is just common sense solutions to the problems of growing old.And since one of the by-products of aging is (one can't help hoping) common sense, then it goes without saying, why bother to read this book?

Sorry, but the authors' rather simplistic style and approach put me off.

hmmm....lots of words that don't say much.Reminds me of the education textbooks of my youth.Not a good thing!

Seriously, look before you buy. You may find more useful content than I did. From my perspective, this book had little to offer.

Practical Planning for a Creative Retirement
For years, as a long-time family therapist and as a Presbyterian minister involved in parish ministry, I have dealt with clients and parishioners facing approaching retirement who didn't have a clue as to what they want to do with the rest of their lives. Some of them have become traumatized by indecision, while others have acted precipitouslyin relocating somewhere else without having any basis for choosing this particular location.....only to quickly discover that the choice they made was disappointing of wrong. In his new book, The Joy of Retirement, author David Borchard, a professional counselor with 30 years of experience in career management and transition counseling, has provided a means of helpingthose facing retirement to examine their own talents and dreams in creating happy, productive futures. Borchard does this by challenging those in their 50's and 60'sto intentionally assess and define the pertinent issues, priorities and goals which will help them make intelligent decisions in establishing vital futures. The author provides charts, raises questions, and gives examples of how others have traveled the successful road to retirement. I heartily endorse this excellent, common-sense, challenging and very warm and human little book which offers a practical course of action for those looking to gain a hope-filled vision of what creative retirement can hold for them!

Excellent tools to help you organize your thoughts about retirement...all of them.
As an executive coach I have used Dave Borchard's career-focused toolsto help my clients maximize their success and fulfillment, while reducing stress and balancing their lives.In The Joy of Retirement he has given us another set of tools that enable us to make sense of our complicated and sometimes contradictory feelings about retirement.Even if you have done considerable thinking about retirement this book will help you deepen and organize your thoughts.

Covers what many retirement books don't--the personal journey
David Borchard and Pat Donohoe have created a must-have guide for those 50 and older as they shape their "retirmenent" years.There are plenty of fine books and sources about the financial,geographic, and recreational opportunities of our later years, but The Joy of Retirement is unique.It explores the internal journey, our stories, our true passions, our unfinished business, and how we make behavioral shifts as our senior years.The assessment tools designed by Borchard give a whole picture of the self in retirement and his experience with hundreds of clients in retirement brings interest and depth to his major points.

I love this book.


Leia Francisco
Life Coach, MA, ACC
Leia Francisco Associates
... Read more