As seen in Woman's Day , US News & World Report , and Money Magazine
Uncover the truth about planning for retirement!
From financial advisors and pundits on television to colleagues and family members, everyone has something to say about retirement. But how much of it is true? Whether you're looking to move into a senior living community or travel the world, Choose Your Retirement shows you how to realistically prepare for the future you desire. Inside, you will find expert advice for choosing the best retirement path for you and your family as well as information on common myths
-You will only need 80 percent of your current income in retirement
-Medicare will cover all your health-care needs
-Switching investments over to bonds is the safest retirement option
-Social Security will run out in 2033, leaving millions without their promised benefits
Filled with hundreds of facts about retiring, Choose Your Retirement helps you set attainable financial goals and plan for the retirement—and life—you've always wanted.
My hashtag#BOOKREVIEW of CHOOSE YOUR RETIREMENT by EMILY GUY BIRKEN: Glad that I read this book on retirement as it covers a wide range of retirement-related issues – not just the typical financial advice book on building your retirement nest egg (which this book also covers).
PROS: 1) It contains lots of considerations to think about before making the decision of retirment (e.g., how to cover medical expenses during retirement, how to determine if you can retire early, how to retire abroad, etc.). 2) It contains several links to websites that contain more helpful information (e.g., AARP health expense calculator, travel budget calculator, etc.). 3) It explains the 4 types of retirement communities. 4) It explains common retirement income myths and why they are false.
CON: 1) This book is almost 10 years old, so much of the tax-related advice is out of date.
Overall, I think this book is worthwhile and makes you think about many retirement concerns. If you decide to read it, be aware that much of the tax info is outdated, so you'll need to find current resources containing accurate tax information.
A little too broad, this book focused partially on the financials and partially on the "now what." I had just read another book by the same author and was surprised how much she repeated her own material.
Excellent primer on various aspects of planning for Retirement.
Full of great advice and hidden gotchas which can make a big impact. The style of writing and presentation using key points keeps the reader engaged.
I learnt a couple of things which I’ve not heard about elsewhere, so would highly recommend to anyone who is looking to get some more info into the big “R” word.
Way too basic for anyone who's spent more than an hour thinking of their retirement future. Accessibly written, but it felt remedial; admittedly I've been reading financial blogs and books and forums for more than a decade, but this book felt like it was written by Captain Obvious.
Don't be tempted to think this is just another boring book about retirement. The author starts by helping you determine your financial personality. This is a critical first step as retirement is a completely individualized stage of life.
Next, Ms. Birken debunks common myths such as how much you need to save and spend. The book is chock full of practical advice about nearly every aspect of the next step of your life. It contains detailed demystification of Medicare, Social Security, IRAs, 401ks and other investments.
But the fun part - where you get to "Dream Big" - covers many possible scenarios such as how to retire abroad, move closer to family or into a retirement community, change careers, go back to school, or work part-time.
This book is an invaluable resource for anyone who wants to learn about the myriad options for the next stage of your financial life so you can plan the retirement that fits your personality and needs.
[Disclosure: I received a free review copy of this book.]