Paychecks and Playchecks: Retirement Solutions for Life

by Tom Hegna

If you ask 50 different financial advisors, you will get 50 different opinions about how to plan for a secure retirement. Their opinions are likely to be sub-optimal. Instead of offering you his opinion, Tom Hegna lays out for you the math and science behind a very simple retirement solution. It is so simple, that you will probably ask yourself, "Why doesn't every financial advisor know this?"

Genres: Business, Nonfiction, Finance

225 pages, Kindle Edition

First published January 1, 2011

Reviews

[Sallie Dunn]

This author is a well-respected financial guru based on the opinions of the many financial planners that I know. And this book is all about how annuities are your best bet in retirement. But he does go over some other facets of retirement and gives an easy to understand primer about how they work. I'm talking life insurance, long term care and estate planning. Easy to read and opens your mind to looking at the whole picture. My only complaint is that the information is now a little dated.

[Cole Brandon]

I asked a Financial Advisor who has been in the business about 15 years what the first book a new FA should read and he gave me this. A little dated now, but Hegna presents a great strategy for retirement. I would recommend this book to someone in their 40s today, but I don’t know how long a this can remain relevant.

[Hans Scheil]

Great Case for Annuities and Life Insurance

Very simple terms communicating a complicated subject. It’s hard to argue with the idea of an insurance company taking all the risk. Hans Scheil, Author, Complete Cardinal Guide

[Scott J Thomas]

Great book for all levels of investors

Great read. Good book for all levels of investors regardless of knowledge and experience. Challenges many conventional teachings with math and science to back it up

[Dwight]

Excellent Read

This is a must read as you plan and prepare for retirement. It offers compelling prospective scenarios that should be put to the test. Don’t go the retirement road alone let these possibilities be your guide.

[Tony Carmona]

As an insurance agent this book is a must. Clear and concise! Tom Hegna presents a compelling plan on retirement options. I have read it twice and listen to it often.

[Christopher]

Highly recommended!

Tom Hegna shows us how we can plan retirement so we don’t run out of money.

I’m down with this plan. Read the book.

[John Fredrickson]

This book promotes the use of insurance products as the principle means to attaining secure income through retirement years and for delivering estate assets to your heirs, tax free. It is very well written, and provides cogent reasons for the uses of the products discussed in each section. Other vehicles for attaining income (Mutual Funds, ETFs, ...) are ignored, though the author addresses this criticism at the tail end of the book.

The largest criticism I have of the book is the use of fear (perhaps the all-time favorite device of many for manipulation) to deliver it's arguments. Early in the book the author raises the specter of inflation as one of the forces to be managed in one's plans. Certainly this is true. The numbers provided, however, don't really convey a good argument. Using the current (for this book, 2012) price of coffee as an indicator of food inflation, and the current price of oil ($100/barrel) as the cost of energy inflation, the author makes the argument for addressing inflation in a strong way. Of course, the price of oil is not $100/barrel, and essential food costs (ignoring a strong trend to dine out) have remained relatively low and constant as percentages of personal income. These arguments do not ring particularly true, and weaken one's belief in the material that follows.

I do think this book is worth considering for anyone who is in the throes of managing retirement issues, but it definitely feels very one-sided.

[Rbarfuss]

Some really great stuff here, but the answer to everything is insurance, whether it be annuities, critical care, long term care, whole life insurance (which in their opinion is ALWAYS better than term) etc.

There are some really good concepts here, but it is a book you'll have to dig through the life insurance rah,rah and rhetoric to get to. I gave it 4 stars because I found some gems in there that I'm going to use in my business right away, and so it was worth the time commitment for me to read it. I also got it on audio book so that I can go over it again while driving in a couple of months.

[David Donhoff]

Disappointing... because the author certainly seems likely to be highly informed, *HOWEVER* he passively wanders around declaring his uncertainties & doubts.

I want to reach through the book to grab & shake him & say;
"Write about what you are ABSOLUTELY CERTAIN ABOUT... if you are not sure, GO DO YOUR RESEARCH... don't waste us readers' attention with your 'aw shucks' wondering & wandering!

Too bad...

[Ava Philippus]

Paychecks and playchecks makes understanding life insurance options simpler!

Often insurance agents represent a partial portfolio of options. This book explains the bulk of them (up to the year it was written - 2012) in a straightforward way, which seems to be very difficult in real life! As I am currently researching my LTC options, this book was a handy guide.

[Ronald]

Book makes a lot of good points, and gives reasons why annuity's should be in a retiree's portfolio. It was a very quick read, and well written. I would like to see more case design work, and examples of different annuities, and their usage, hopefully, in his next book.

[Joe Basler]

If you have no plan, this is an easy to understand starter guide. If you have a plan, this may make you aware of options you haven’t considered yet. Your estate is probably larger than you think it is, and the govt is literally counting ($) on your ignorance/inaction.

[Scott Carmack]

Outstanding read for anyone interested in learning better ideas for saving and investing in this market.

[Johnny Ruiz]

Great retirement solutions

[Joel Ponton]

Great book, if you want easy to understand way to create your own pension.

[Daniel Wise]

Presents some pretty interesting ideas about lifetime guaranteed income. Definitely worth a read in today's tumultuous financial times.

[Kelley]

I had to read this as homework from my financial advisor aka my dad.

[Samantha Nowatzke]

Author makes a solid case for why annuities are a must-have in retirement to make sure you don't outlive your money in a changing landscape ie fewer and fewer people have access to pensions.

[Cory Wallace]

Tom Henga breaks down how to retire and maintain a steady income for as long as you live.