Synopsis
Warner takes on the financial service industry's maxim that to avoid financial destitution in old age, Americans need to put aside larger sums of money that they are currently doing. Warner also advises readers on a number of other ways to enjoy the retirement years, including maintaining good health, having friends and close family ties, and enjoying varied interests and activities. Illustrations.
Reviews
Warner, attorney and founder of Nolo, the do-it-yourself legal publisher, has written a unique retirement guide which, despite its title, focuses on non-financial issues as well as the traditional retirement concerns. The book also includes conversations with notable people who have led productive "retirement" lives, including environmental activist and writer Ernest Callenbach and mathematician Arthur Levenson. By focusing on important concerns such as broadening circles of friends, relying on one's extended family, turning to hobbies and nonwork activities, the book will help readers gain a healthier perspective on retirement. The sections on friendship and love are particularly compelling. The chapters on specific financial planning are not as complete as readers might want; for example, there's only one brief chapter that explains how investments work. Warner can also be something of a contrarian in his financial advice. He maintains that experts who say people need roughly 80% of their pre-retirement income are wrong. In addition, Warner says (arguably) that the Social Security system is not actually in precarious shape and will be around for many years to come. Still this is one of the freshest and most practical approaches to retirement planning in a long time.
Copyright 1996 Reed Business Information, Inc.
Money for retirement doesn't matter? Well, not exactly. Warner puts a different spin on how to prepare for retirement by recognizing that a sensible savings plan is important, but the real keys to successful retirement are good health, spiritual life, relationships with family and friends, and having interesting things to do. His mission in this book is to identify the habits and life-style choices that set zestful people apart from those who spend their last years bored, lonely, and depressed. He reveals that there is often a direct connection between mid-life obsession with work and saving and an unhappy retirement. He has developed a thoughtful catalog of retirement activities and options that are worth reviewing; and he makes recommendations on the financial aspects of retirement by offering advice to "the savvy peasant," someone he identifies as being too busy to spend time on Wall Street "gobbledygook" but having more than enough financial smarts to invest money wisely and get rich slowly but surely. Mary Whaley
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