Wednesday, July 23, 2014

Financial Survival for Retirees

Many of the Baby Boomers I know are still working, even some of those who are well past the age of 65.  Among our friends, I know of several salesmen, a doctor, several business owners, some lawyers, an engineer, an insurance broker, a number of financial planners and many other people in a variety of occupations who are continuing to work as long as they can because they do not want to face the possible lifestyle change that could occur if they stop working.

As a result, I frequently expose my readers to a variety of approaches to retirement planning that will help people assure themselves that they will not outlive their retirement savings ... one of the biggest fears of the Baby Boomer generation.

On one hand, it is exciting to know that many of us will live 20 to 30 years after we retire, or even longer.  For some of us, however, it is also frightening, especially if we do not feel we have adequately prepared for retirement.

As a result, I recently reviewed the short book, "The Baby Boomers Retirement Survival Guide" by Certified Financial Planner Rich Paul, for the online magazine Squidoo.  You can read my full review here:

http://www.squidoo.com/book-review-the-baby-boomers-retirement-survival-guide

In his book, he discusses important investment strategies that Baby Boomers will want to understand, especially if they plan to invest and manage their own savings, while assuring themselves that their money will last the rest of their lives.  For example, he talks about the importance of asset reallocation and balancing your portfolio so that too much of it does not end up in one risky investment.

One of the things I like about this book is that it is written in easy-to-understand language that clearly explains things in a way that is helpful to both the novice and the experienced investor.

Since most Baby Boomers have only saved a modest amount towards their retirement, and they want to make sure their money lasts as long as possible, it is important that we all understand how to make wise investment decisions that limit our risk.

Rich Paul's book is one that is very useful for anyone who plans to manage their own retirement funds.  It is also a valuable resource for someone who is letting professionals manage their money, since they need to understand whether or not the experts are doing a good job.  Far too many people have turned all their assets over to someone else to handle, only to be disappointed at the results.

In addition to this book, if you are trying to learn how to handle your retirement savings, you will want to use the Retirement Money tab at the top of this blog to find links to dozens of other articles about investment strategies that are recommended by other well-known investors and investment advisers.

You will also find links to hundreds of other retirement articles by using the other tabs at the top of this blog.

There is no single approach to retirement that is right for everyone.  It is extremely important that you do your research, explore your options, and then follow the plan that seems right for you.

You are reading from the blog:  http://www.baby-boomer-retirement.blogspot.com

Photo credit:  Photo of book cover is courtesy of www.amazon.com

1 comment:

  1. Thanks for the information and the book recommendation. Perfect title!

    ReplyDelete

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