Your best financial life Save smart now for the future you want

Anne Lester

Book - 2024

Drawing on her own personal experience, the latest research and case studies, the former head of retirement solutions for JPMorgan Asset Management provides actionable solutions for the unique challenges Millennials and Gen Z face while saving for their future to help them achieve their biggest life goals.

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Subjects
Genres
BUSINESS & ECONOMICS / Personal Finance / Retirement Planning
Published
New York, NY : William Morrow, an imprint of HarperCollinsPublishers [2024]
Language
English
Main Author
Anne Lester (author)
Edition
First edition
Physical Description
xviii, 222 pages : illustrations ; 22 cm
Bibliography
Includes bibliographical references (pages 201-208) and index.
ISBN
9780063320864
  • Introduction
  • Part I. You Can Have the Future You Want-Yes, Really, You
  • 1. Multiply Your Money with the Magic of Compound Returns
  • 2. You Suck at Saving (but It's Not Your Fault)
  • 3. Identify Your Money Type
  • 4. "I Should Have Saved How Much by Now?!" (aka Time for Your Heart Attack)
  • Part II. Building Your Retirement Stash
  • 5. Save for a Rainy Day: Your Oh Shit! Fund
  • 6. Tax-Advantaged Savings: Your Guide to 401(k)s and IRAs
  • 7. Assess Your Budget: Balancing Retirement and Debt
  • 8. Stay the Course: Making the Most of Your Retirement Savings
  • 9. Have Fun: Saving for Vacations, Weddings, and Buying a House
  • Part III. Don't Blow Your Nest Egg All in One Place!
  • 10. Saving for Life's Speed Bumps
  • 11. Invest the Rest!: A Primer on Investing in Stuff Other Than Your Retirement
  • Epilogue: You've Got 99 Problems but Retirement Ain't One
  • Acknowledgments
  • Notes
  • Index
Review by Booklist Review

Retirement expert Lester delivers a straightforward pathway to retirement and financial preparedness directed at the millennial and Gen Z crowd. Building on the STASH system of planning, which covers rainy-day savings, tax-advantage investing (401(k)/IRA), budgeting, retirement, and entertainment, Lester guides readers through decades worth of strategies for building wealth. She identifies some of the biggest financial risks for workers in their twenties and thirties (like being underinsured) as well as roadblocks to saving (buy-now, pay-later apps) and planning for emergencies. The information is neither too minimal to be helpful or so complex it is off-putting and includes an accessible section explaining the stock market and investments alongside more basic advice regarding paying down high-interest loans and building a solid credit score. Your Best Financial Life will be a helpful addition to public-library collections due in large part to its focus on younger adults just beginning to plan for their future and retirement.

From Booklist, Copyright (c) American Library Association. Used with permission.
Review by Publisher's Weekly Review

Lester, the former head of retirement solutions for JPMorgan Asset Management, debuts with a no-frills guide to personal finance. She encapsulates her advice in the five-step STASH program, which recommends readers set aside three to six months' salary for emergencies, invest liberally in tax-advantaged savings plans, balance saving for retirement with paying off debt, stay the course during stock market volatility, and budget for large purchases by selecting financial options tailored to how soon one will need the money. (High-interest savings accounts are ideal for purchases in the near future, while bonds offer the surest bet for expenses several years away.) Lester's overview of the advantages and disadvantages of balanced, exchange traded, index, and target-date funds tracks standard guidance on the subject (index funds are attractive for their low fees, and target-date funds "are the ultimate 'set it and forget it' option"). Yet, this stands out for the clarity of Lester's explanations ("Instead of owning part of a company, you can own some of its debt. These are called bonds") and for her shrewd assessments of recent financial developments. For instance, she warns against investing in crypto and suggests that using robo-advisers to manage one's portfolio can be a good way to save on the high fees charged by human advisers. It adds up to a sensible introduction to getting one's finances in order. Agent: Michael Palgon, Palgon Co. (Mar.)

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