Jeffrey's Reviews > Tax-Free Retirement

Tax-Free Retirement by Patrick Kelly
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Feb 29, 12

bookshelves: economics

OK, this isn't literature of fiction, so let's take a look at the information contained within. To set the stage, let's take a look at your average retiree today. He or she is retiring on $25,000 and has a 95% chance of being dependent on the government, friends and family, or other sources outside of personal retirement funds to make ends meet. My father, for example, with an Ivy League education and an advanced degree in engineering made a good living, probably in the upper 5% of income earners. Today, because of unforeseen circumstances or merely relying on a pension, he says he may outlive his retirement money.

According to the author, Patrick Kelly, retirement is something most Americans are not trained to think about, that it's quite uncommon for your average worker to be as prepared as he / she should be upon retirement. The statistics above verify this point. So, what does the book talk about? Is it important? essential reading to the average American? not only for her / his benefit but to the benefit of family, friends, and country that may have to make up for the difference putting additional financial burden on an already stressed economy?

YES!

What does the book cover? Well, the nine financial land minds, of course. And they are:

1. Lack of Planning
2. Procrastination
3. Getting on the wrong side of Mr. Interest
4. Desire for Instant Gratification
5. Following the Masses
6. The Inertia Facto
7. A desire to Get Rich Quick
8. Lack of Generosity
9. Acting like the Future Will Never Arrive

Not only is there sound financial advice, there's sound advice to live by . . . . period. If you've read other books or materials on investing, getting rich, even self-improvement literature, you'll recognize some of these principles. But the general theme here is don't be lazy, a simple follower follower, a glutton, focus solely on money, stingy, ignorant, or unaware. Actually, it's telling us to grow up, be responsible and accountable for ourselves, our families, and our country. Good advice all around. A must read for any citizen with a pulse.
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