Retire on Less Than You Think: The New York Times Guide to Planning Your Financial Future

by Fred Brock

From the New York Times retirement expert, an authoritative resource for successfully assessing and tackling the real costs and challenges of retirement

Only a few years ago, the question on many Americans’ minds wasn’t “how will I retire” but “when.” Now, with 401(k)s and IRAs at a fraction of their previous value and health-care costs soaring, it’s time for a definitive guide book that walks you through the fundamentals of retirement.

With his biweekly “Seniority” column in The New York Times , Fred Brock has earned a reputation for providing frank and pragmatic advice on the changing landscape of retirement. In chapters written exclusively and originally for this book, he offers updated thinking on all the essentials for a smart and secure retirement, including how to
• determine new personal finance and investing goals
• find untapped asset streams, such as reverse mortgages
• deal with the tangle of taxes on pensions, family gifts, and other income
• work during retirement
• choose a community and housing
• maximize your health insurance
• assess long-term assisted-living arrangements

He offers indispensable tools for analyzing your true costs of retirement, independent of the mutual-fund industry hype and Social Security scares. And a substantial list of national, regional, and online resources as well as worksheets allow you to customize and realize your retirement plan.

Genres: Self Help, Nonfiction, Money, Personal Finance

208 pages, Paperback

First published January 1, 2004

Reviews

[Gage · Rating 2 out of 5]

Not particularly helpful if you have basic financial knowledge. Not fond of the home ownership propaganda in the book. E.g., he'll point out that the average home price in the U.S. rose about 300% from 1980 to 2007, but fail to mention that the consumer price index did as well.

[Jessica · Rating 3 out of 5]

This book is a little outdated and very basic, but it gives a good perspective and some good advice for those that would like to retire.

[krystal joyner · Rating 4 out of 5]

Great information

[Lynn · Rating 2 out of 5]

Repetition of a lot of the same info from other books on retirement. It is mostly quotes from studies about retirement, social security, and baby boomers. The next chapters look meatier regardng the how to part of the book. It seems though, that the jist of the book is that you can live on less if you are willing to give up the lifestyle you had, simply, and move to a less expensive location. My edition is the older one, so the later version might give more updated information. I was looking for more information on what you will "really" need and how not to cut yourself short, and this did not meet that need.

[Michael · Rating 3 out of 5]

Some good, commonsense advice on retirement. It offers ways to reduce debt, increase income, and other things to consider, whether you plan to retire early or work beyond the regular retirement age. Some of the info is a bit dated, but the book does provide good information about Social Security, Medicare, and other benefits of reaching retirement from the work force.

[Therese Holmstrom · Rating 4 out of 5]

This was an interesting read with a good mix of practical advice and individual stories. I liked that the author analyzed the reasons the traditional "formulas" about the money you need to retire may not be accurate for everyone and is largely self-serving propaganda for the investment firms and banks.

[Ann · Rating 2 out of 5]

This book circled back around again for me. The friend I gave it to in 2006 had a pile of books which I took...just in case (ha) and the receipt where I bought it was still in the book! I will re-read (skim) it again and pass it on.

[Noah Sanchez · Rating 3 out of 5]

Had very general advise. Book is set up as a read-thru, and less so for pick-and-choose as advise is needed. Advise was okay (hence the 3 stars), but because of broad generalities and non-reference layout, I'd pass on future reads.

[Gordon Howard · Rating 2 out of 5]

Dated, because it hasn't been updated since 2004 (example is health care discussion). Some advice, like collecting social security at 62, is questionable. Book contains lots of case studies. It also isn't well-organized.

[Stephen · Rating 5 out of 5]

READ NOV 2013

Excellent resource for anyone working or nearing retirement. Practical advice on how to approach retirement.

[Jamie · Rating 3 out of 5]

A more liberal perspective on retirement planning... I am much more conservative, and still don't want to place any faith in having Social Security by the time I retire.