Securing a Retirement Income for Life: Strategies for Managing, Protecting and Preserving Your Wealth, 2nd Edition Reviews
Securing a Retirement Income for Life: Strategies for Managing, Protecting and Preserving Your Wealth, 2nd Edition
How much you need to finance your retirement depends on how well you want to live and the expected length of your retirement life. Do you want to maintain or increase your standard of living? Do you want to start a new business, provide financial help to family members or engage in a new hobby or activity? How much you need to accumulate depends on the lifestyle you envision. Securing a Retirement Income for Life will show you how much you need to accumulate to provide a retirement income for life and how to implement the very best strategies for managing, protecting and preserving your wealth. The interactive nature of this new book will show you how to go about planning to meet your retirement needs and objectives and how best to prepare for uncertainties when the future is unknown. For many people, retirement may represent the longest stage of their life. It is a time when they can look forward to a whole new range of exciting challenges and activities – to experience their o
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Review by Mark H. Jackson for Securing a Retirement Income for Life: Strategies for Managing, Protecting and Preserving Your Wealth, 2nd Edition
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I have finally found a book written by a Certified Financial Planner who provides a concise explanation of the investment process used by investment pros to accumulate money for retirement along with the research and illustrations to back it up. Hypothetical case scenarios show how integrating your retirement plan with other aspects of your financial life will protect you against the risk of outliving your money and other unforeseen events.
This book shows you very methodically how to determine the amount of money needed to provide a retirement income for the rest of your life. It covers the methods for managing your retirement funds and how to protect them from among other things an extended market decline. Unlike other books on the subject, Griffith provides questionnaires and tables to guide you through the process of understanding your own retirement needs and objectives. He tells you what you should be looking out for not only in investing but also with rising expenses, such as healthcare, increasing inflation and tax issues. The author gives you not only the positive side to certain issues but also some of the negatives.
If you are looking for a guide to teach you how to invest for retirement and how to make sure that your retirement income will last for the rest of your life, then I would suggest you start here. It will keep you from making the mistakes that the vast majority of people make causing them to outlive their resources.
If you are looking for an investment professional, this book will answer many of your questions and make you an educated client.
You should buy this book.
Review by Midwest Book Review for Securing a Retirement Income for Life: Strategies for Managing, Protecting and Preserving Your Wealth, 2nd Edition
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Written by Bill Griffith Jr. (principal of W.E. Griffith & Associates, a fee-based wealth management firm), Securing a Retirement Income for Life is a no-nonsense guide to what, in today’s era of long life spans, is becoming an increasingly lengthy stage of adult life. Securing a Retirement Income for Life addresses how much to accumulate to provide a stable retirement income and fully address one’s quality of life needs, how to prepare for uncertainties most effectively when confronted with unknown future variables, addressing healthcare risks, choosing the right financial advisor for one’s needs, and much more. Written in plain terms for the lay reader, Securing a Retirement Income for Life features a wealth of easy-to-use tables for quickly estimating relevant figures, as well as an index for cross-reference, and is especially recommended for anyone confused by myriad options for retirement planning.
Review by E.J. for Securing a Retirement Income for Life: Strategies for Managing, Protecting and Preserving Your Wealth, 2nd Edition
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This book has changed my life! To achieve my retirement income goal, I learned how to accumulate a portfolio of over $2.4 million. I am so fortunate to have read Securing a Retirement Income for Life.
If you are serious about becoming financially independent, this book is for you. This is not the kind of book that you read, get excited about then ask yourself, “Okay, what do I do now? You are going to know what to do. It’s the next best thing to having a Certified Financial Planner work with you “one on one.” The great thing about this book is that you can be working on your own dreams, your own goals, how much you want to make as you are reading. You’ll need a calculator but everything else is provided for you – right in the book.
Unlike other books on the subject, Securing a Retirement Income for Life is written by a Certified Financial Planner who has experience working with clients on a daily basis. His firm is known for having expertise in retirement income and distribution planning.
In this book, you will learn about proven strategies to ensure a consistent and reliable flow of income for your lifetime. How managing your retirement plan is different after you retire and how to change the way you invest during retirement. You will learn how to protect your retirement funds from uncertainties such as how long you will live, changes in rates of return and inflation. I discovered strategies the wealthy use to build and preserve their wealth.
Griffith covers the important topic of asset allocation and how a well-defined portfolio allows for several stages of lifestyle and cash flow during the extended retirement many people hope to experience. He discusses the importance of integrating your retirement plan with other aspects of your financial picture, such as investments, legacy planning and tax issues. This is what I think makes this book different from others on the subject. You will learn how your retirement plan fits in with your overall financial situation. You will learn a lot more than just how to build wealth. You will learn how to protect and preserve it. After all, who wants to have nearly half of a million-dollar portfolio wiped out because of one costly mistake?
Overall, I highly recommend this book, which serves as a “roadmap” demonstrating exactly how you can start from where you are right now to achieve your goal of financial independence.
Review by Seasoned investor for Securing a Retirement Income for Life: Strategies for Managing, Protecting and Preserving Your Wealth, 2nd Edition
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This edition, published in 2009, is based on an earlier one published prior to the financial collapse of 2007. And the reviews of the book heretofore have been done before the collapse as well. I wonder how many of those who reviewed the book then now have portfolios that have suffered and impaired their retirement standard of living today? The book certainly has historical value, but as a plan for the future, it is doubtful that ANY financial book can guide anyone through the pitfalls of investing anymore. All investing is based on certain assumptions held true for many years that have been shattered by the greed of Wall Street and the institutional incompetency of government regulators. Today, we still hear the mantra about staying the course with the expectation that eventually the market will go up; yet we see constant buying and selling on a short term to elicit quick profit taking. We are asked to rebalance our portfolios in light of the decimation of our holdings. But re-arranging where we now have our money will not change the fact that investors have lost wealth no matter how it is placed. Index funds were the rage because of their low cost, but we now see that the low cost is a minimal advantage in a declining market where careful stock picking among the bones of the S&P 500 brings better results. My advice for retirement: consider what you have right now, gauge your life expectancy, and get out as soon as you are able with what you have right now, relying on Social Security early retirement benefits and perhaps a small job to make ends meet until the market goes up. If you are within three or four years of retirement, working those extra years will not amass you any greater wealth because you will not have the early Social Security retirement benefits to use and the money you invest will not have sufficient time to grow appreciably for the risks of investing before you have to take your minimum distributions. Quite simply: you are out of time, pal! So enjoy what you have now before the government or Wall Street takes it all later, either through taxes, inflation, or spurious unregulated investment schemes. If you think I am a disgruntled loser in the game, perish the thought. The day the market tanked in October, 2007, I quit my job and have no regrets. Good luck!