How to retire with enough money : and how to know what enough is

How to retire with enough money And how to know what enough is

Teresa Ghilarducci

Book - 2015

Here is a single-sit read than can change the course of your retirement. Written by Dr. Teresa Ghilarducci, an economics professor, a retirement and savings specialist, and a trustee to two retiree health-care trusts worth over $54 billion, How to Retire with Enough Money cuts through the confusion, misinformation, and bad policy-making that keeps us spending or saving poorly. It begins with acknowledging what a person or household actually needs to have saved--the rule of thumb is eight to ten times your annual salary before retirement--and how much to expect from Social Security. And then it delivers the basic principles that will make the money grow, including a dozen good ideas to get current expenses under control. Why to "get ri...d of your guy"--those for-fee (or hidden-fee) financial planners that suck up valuable assets. Why it's always better to pay off a loan or a mortgage. There are no gimmicks, no magical thinking--just an easy-to-follow program that works.

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Subjects
Retirement income > Planning.
Retirees > Finance, Personal.
Finance, Personal.
Retirement.
Financial security.
Published
New York : Workman Publishing [2015]
Language
English
Main Author
Teresa Ghilarducci (author)
Item Description
Includes index.
Physical Description
128 pages : illustrations ; 19 cm
ISBN
9780761186137
  • Facing the Facts
  • Bringing Your Picture into Focus
  • Working
  • Saving, Spending, and Debt
  • Investing and Allocation
  • Voting and Civic Involvement.
Review by Library Journal Review

Ghilarducci (economics, the New Sch.; When I'm Sixty-Four: The Plot Against Pensions and the Plan To Save Them) is an expert on retirement and pensions who was twice appointed by President Bill Clinton to the advisory committee of the Pension Benefit Guaranty Corporation. The author describes herself as "no fan of the 401(k)-and-IRA or DIY-model of retirement planning" and expresses deep remorse for a system that has transitioned away from the security of defined-benefit plans that offered greater stability through old age. In confronting that reality, she advocates an essentially conservative and un-flashy model, recognizing that in the absence of a pension (or great wealth), most Americans will need to rely on a new "three-legged stool" of Social Security (hopefully delayed as long as possible), an employer-sponsored 401(k), and other savings in order to achieve a semblance of the comfort found in earlier eras and to avoid less pleasant options, such as working well into their senior years. After about 100 pages of financial advice, the author closes her guide with a hopeful call to readers to take action politically, noting that "our young selves need to take care of our older selves." VERDICT Despite some redundancy at times and a tendency to defer explanations to later pages, Ghilarducci uses humor, easy-to-understand calculations, and personas to showcase how readers from varying walks of life can make sustainable retirement savings choices.-Doug Diesenhaus, Univ. of North Carolina, Chapel Hill © Copyright 2015. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.

(c) Copyright Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.

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