Book Review: Yes, You Can Still Retire Comfortably
Yes, You Can Still Retire Comfortably:
The Baby-Boom Retirement Crisis and How To Beat It
by Ben Stein and Phil DeMuth
New Beginnings Press
Available from any bookstore, Amazon, or the websites mentioned in this article.
Why Buy This Book
Most books written for a consumer audience about investing and saving for retirement read like manuals written by MBA candidates. They simply aren’t accessible for the average reader who doesn’t want a lot of esoteric financial info that shows how smart the author is. Too often, the content is boring so the book ends up on the bedside table each night because you fell asleep reading.
Readers interested in retirement, and that’s most card-carrying members of the Baby Boom Generation, just want to know one thing: how can I afford to retire?
This book shows you the way. Don’t think it’s out of date because it has a 2005 copyright. Stein and DeMuth, the authors, post free updates to the book’s data on the Internet.
We are the Baby Boomers. We reigned long and loud. We rocked from Elvis through the British invasion to the Eagles. We fought in Vietnam, watched a man walk on the moon, and lived to embrace the new Millennium. Unfortunately, one thing many boomers didn’t do was prepare for the biggest expense of their lives: retirement. When the first boomer applied for social security, that was a wake up call for many.
Is It Too Late
Sure, this is a book we all should have read about 30 years ago. However, according to the book, we haven’t yet missed the retirement boat. True, our country is facing an economic downtown, but that just means you need to make some smart decisions now, not later.
Stein and DeMuth’s book is worth the purchase price if only for their 21 Basic Rules of Retirement.
With 11 chapters divided into 3 parts plus an appendix you’ll learn what those basic rules are, how to plan decade by decade, how much you need to save, how much you should spend, how to create a couch potato investment portfolio, and what to do if, God forbid, you just end up without enough. The appendix gives: 25 Big Truths of Retirement Planning and Retirement Withdrawal Strategies–Other Voices.
Written in a friendly conversational style, the book is a resource of easy to understand facts and a treasure of down to earth advice. This isn’t your father’s investment book. Chances are your dad had a secure company pension when he needed it. This book is for us, the boomers who want second careers and new adventures. We still would rather burn out than fade away. That’s the spirit of our generation.
How do we make our future dreams come true? This book points you in the right direction. The rest is up to you.
Ben Stein is known by many for the teacher he played in Ferris Bueller. In addition to being an actor, he’s a lawyer, a writer, and a respected economist whose father was a world-famous economist and government adviser. Most of all, he’s practical and possesses enormous common sense.
Phil DeMuth has a master’s in communications and a Ph. D in clinical psychology. He’s also a registered investment advisor, is well-published in all the nationally-known business periodicals, and owns Conservative Wealth Management in Los Angeles.
Guest blogger is novelist and freelance writer Joan Reeves