Retirement Planning for Dummies

by Matthew Krantz

Advice and guidance on planning for retirement

Retirement Planning For Dummies is a one-stop resource to get up to speed on the critical steps needed to ensure you spend your golden years living in the lap of luxury--or at least in the comfort of your own home.

When attempting to plan for retirement, web searching alone can cause you more headaches than answers, leaving many to feel overwhelmed and defeated. This book takes the guesswork out of the subject and guides readers while they plan the largest financial obligation of their life.

Take stock of your finances Proactively plan for your financial future Seek the help of professionals or go it alone Use online tools to make retirement planning easier Whether you're just starting out with a 401(k) or you're a seasoned vet with retirement in your near future, this book helps younger and older generations alike how to plan their retirement.

Genres: Nonfiction, Finance, Business, Personal Finance, Audiobook

352 pages, Kindle Edition

Published January 9, 2020

Reviews

[Illiterate · Rating 3 out of 5]

Just checking I haven’t missed anything. It’s mainly about the US. Highly recommended for people younger than me.

[Dan Webb · Rating 3 out of 5]

A good overview of many topics.

[Chris Jaffe · Rating 3 out of 5]

Not bad, but maybe too much a general overview. Much of it was hard to really get that much out of. Some chapters felt like it did nothing more than discuss what various websites look like. Krantz kept including views of websites to show what they looked like, but the images were too small to really get anything but a mostly generic overview. Early on he notes the FIRE (Financial Independence, Retire Early) movement and says he'll come back to them throughout - but he doesn't.

[Michael Loveless · Rating 4 out of 5]

Retirement Planning for Dummies is a great starting place for people just like me. I was looking for a book that would be an introduction to retirement. I'm still between two and seven years away, but I'm close enough that I want to start understanding the basics. I don't need to know everything, but I wanted to make sure that I at least knew what I didn't know. This book is a good starting place for anyone beginning to think about retirement.

[Tom · Rating 4 out of 5]

Overall it was a great comprehensive discussion that touched many facets of retirement planning. I thought too much time was spent on providing guides through websites or tools that aren’t as impactful for me, since most are self explanatory or can be figured out on your own time. Matthew Krantz did a great job making potentially dull material light and entertaining. Anyone looking to start retirement planning or continue learning would benefit from this book.

[Tammy Bowman · Rating 3 out of 5]

I thought this would be more FIRE and less "save more, peasant."
Still, really useful for young people who want to figure all this stuff out and set themselves up for financial success in later life.

I got a couple of takeaways I'm going to use to help myself out in the HSA area. Might award more stars if that works out. :)

[K. Sorenson · Rating 5 out of 5]

Easy and understandable

Definition were precise and easy to understand. The recommended web sites were excellent albeit some did not work. I would like to see more information in how to lower taxes and worksheets

[Ihsan Hasbullah · Rating 3 out of 5]

more applicable to american readers although there are few tips on saving and financial management which is useful to general readers worldwide.

[Lizette Shell · Rating 4 out of 5]

Good book

[Colette · Rating 4 out of 5]

Wished I discovered this book when I was in college or before I started working. Very helpful and led me to discovered another favorite book- tidy up from Marie Kondo. My life definitely has changed

[Gary M. Gerstner · Rating 5 out of 5]

Foundational material.

[Julie · Rating 5 out of 5]

Thorough.

[Nick Salenga · Rating 5 out of 5]

This is a great book on essential guide to prosperous retirement to plan your financial future.

[Sleonhardi · Rating 2 out of 5]

Extremely basic information--appropriate for someone early in their career just starting to learn about retirement planning, but not helpful for someone who has already learned the basics, and not at all helpful for someone nearing retirement.

[Elwin Kline · Rating 4 out of 5]

"I really liked it."

Honestly, for a retirement planning book, this was very entertaining, kept me interested, and was well written. Considering the subject at hand, I think it reasonably deserves a 4/5.

Fair warning, roughly ~65% of this book is about 401k's. The author praises the all mighty 401k as he labels this investment strategy, especially if your company offers matches. As a 401k owner myself, it resonated well with me and I have been pleased with my decision to go down that path to say the least. I had an amazing manager sit me down back when it was my first day on the job and explain to me how the company match worked and it really made an impact on me. Today if I log into my account and check my balance, I am super thankful I took heed to his advice and didn't blow him off.

For those that are skeptical about 401k's, this book would be an awesome resource for you to understand more. Ultimately though, you need to dig into your company and see what they offer and decide if it is a good fit for you.

Outside of 401k's, this book highlights how:

- The social security system is not something to even consider as part of your retirement equation
- Experiences = greater happiness over material possessions
- The insurance game; suggestions on when it is worth it and when it is just another vampire fund
- Life goals / After Retirement / Happiness
- The F.I.R.E movement, aka Financial Independence, Retire Early; very interesting stuff!
- Finally, provides various resources such as Morningstar

All in all, I enjoyed it and would absolutely recommend this book.

If you have a wall built up against 401k's however and for whatever reason they are your anathema, you probably will highly dislike this book.

[Jane · Rating 3 out of 5]

The version I read of Retirement Planning for Dummies by Matthew Krantz is the soft bound edition rather than the ebook and that is what I would recommend be used if you are serious about how to plan for retirement. The book contains a wealth of information from evaluating your risk on how to build your retirement savings to providing information on longevity calculators and how to determine if you've saved enough to last your entire lifetime. The only problem is that Congress continues to change retirement ages to apply for Social Security and how much Medicare will cover. Then again, another drawback to concluding that this tool will be right for someone entering the workforce is that Medicare does not tell you that you may have to pay more for your premium because you had a higher income, especially near the end of your career. Since I've been retired for two years this book did little in the way to guide me through any process; however, I did calculate my longevity and definitely reviewed the questions asked my most retirees and common mistakes made. What I would do, though, is recommend that young people be given this through a high school course in the way of life skills, an area which is so lacking in the youth of America as they spend like there is no tomorrow and have no concept of saving for their futures.

[june3 · Rating 4 out of 5]

I was so glad to see this book at the library. I have the paperback version, not the ebook.

I would call this book decent, helpful and carefully considered. I am a planner, and I learned a few things from a quick read. I am not a financial professional, so I cannot comment as to the long-term benefits of any of his recommendations. However, I certainly understand and believe in his concept of a "run rate" and the need to ensure that one has a full understanding of daily, weekly, monthly and yearly expenses, including those that are necessary (e.g., housing, food, work-related) and those that are not.

I also understand his concept of risk, although I don't necessarily buy into his contention that one needs to take inordinate risks with one's savings in order to have funds for retirement. Then again, our definitions of inordinate clearly differ. On the other hand, I completely agree with his exhortation to maximize savings and making certain not to miss out on "free money" (i.e., 401k matching) if offered by one's employer.

Missing from the big picture - this book is obviously written for those who have funds to save. It is difficult for anyone living paycheck to paycheck and between emergency and disaster to save significant amounts of money. Enough said.

[Jane · Rating 3 out of 5]

Retirement planning for dummies by Matthew Krantz should have a subtitle labeled "for those 30-35 years of age" because almost 98 percent of its contents do not apply to me. There is one very small section on understanding your expenses, however, that I reviewed with some interest. As a result (and I have a Netflix series in my favorites area on this very subject) is about eliminating all the stuff in your life that does not bring joy. Another area of interest that I saw was for inherited IRAs so with that I will be discussing today's rules with my financial advisor so that I have a better understanding in the off-chance that my children inherit them sooner rather than later.

[Paul]

As described; complete truth in labeling.

[Dan Wetenkamp · Rating 4 out of 5]

An easy to understand overview. A good reference. Much of it I already knew but there were some good tips. Especially liked the numerous online tools that were referenced.