Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success (The Retirement Researcher’s Guide) PDF AZW3 EPUB MOBI TXT Download

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The Retirement Planning Guidebook helps you navigate through the important decisions to prepare for your best retirement. You will have the detailed knowledge and understanding to make smart retirement decisions:- Understand your personal retirement income style, which can then help you navigate through the conflicting opinions about retirement strategies to choose your right path.- Learn about investment and insurance tools that may best resonate with your personal style.- Determine if you are financially prepared for retirement by quantifying your financial goals (annual spending, legacy, and reserves for the unexpected) and comparing them to your available assets.- Make smart decisions for when to start Social Security benefits, which could potentially support an additional $100,000 or more of lifetime income from Social Security.- Develop a plan for making the best initial and ongoing choices from the alphabet soup of Medicare options, as well as how to find health coverage if you retire before Medicare eligibility.- Assess where you wish to live in retirement and whether there are helpful ways to incorporate housing wealth into your retirement strategy.- Decide how to manage your long-term care risk between self-funding, Medicaid, or private insurance, and take steps to support living at home for as long as possible.- Understand how to manage your taxes to pay less, to avoid common pitfalls, and to have more for your lifetime and your legacy. You will be able to apply tax diversification, asset location, tax bracket management, and Roth conversions to enhance the sustainability of your retirement assets.- Get your finances organized and understand how to get your estate and incapacity planning documents in order, including your will, account titling, beneficiary designations, financial power of attorney, and advance health care directives.- Identify whether there is a role for trusts in your estate plan for reasons related to avoiding probate, controlling how and when assets are disbursed, obtaining creditor protections, or helping to manage estate taxes.- Prepare for the non-financial aspects of retirement, including the need to find purpose and passion, to understand if there is a role for work in retirement, to enhance relationships and social connections, and to maintain an active and healthy lifestyle.Retirement has an entire vocabulary associated with it. We’ll demystify the 4% rule, sequence-of-return risk, time segmentation and buckets, reverse mortgages, income annuities, variable annuities, fixed index annuities, long-term care insurance, living trusts, irrevocable trusts, budgeting, the funded ratio, Medicare Advantage, Medicare supplements, diversified investment portfolios, Roth conversions, the hazards of the Social Security tax torpedo and increased Medicare premiums, buffer assets, 401(k) plans and IRAs, the rollover decision, distribution options for defined-benefit company pensions, required minimum distributions, qualified charitable distributions, aging in place, cognitive decline, and so much more.The Retirement Planning Guidebook does not let important matters fall through the cracks. This is a comprehensive look at the key retirement decisions to achieve financial and non-financial success. You will have the foundation to make the most of your retirement years, and I hope you’ll be able to do something great!

Deliver to China

September 5, 2021
474 pages
English
978-1945640094

File Size: 8 MB
Available File Formats: PDF AZW3 DOCX EPUB MOBI TXT or Kindle audiobook Audio CD(Several files can be converted to each other)
Language: English, Francais, Italiano, Espanol, Deutsch, chinese

Although the sheer amount of granular detail the author brings to the subject can seem daunting, the clarity of his explanations will smoothly carry even financially illiterate readers along.A readable and invaluably thorough resource for understanding retirement finances.KIRKUS REVIEWSDr. Pfau is a preeminent retirement researcher and consummate scholar. Yet, he possesses the rare trait of remaining accessible to a wide audience. Dr. Pfau’s Retirement Guide is incisive, instructive, and actionable. Retirement planning is the most complex aspect of the planning process. Dr. Pfau’s applied research yielding the Retirement Income Style Awareness (RISA) framework offers a new diagnostic and directive tool to cut through the myriad complexities of making decisions in the retirement process. Whether you are in the do-it-yourself retiree community or a retirement focused advisor, you will gain greater knowledge and understanding that can foster better long-term retirement outcomes. JASON K. BRANNING, CFP®, Founder of Branning Wealth Management and co-author of Modern Retirement TheoryAnything Professor Pfau writes is worth reading and the Retirement Planning Guidebook stands near the top of the list. Founded on solid academics and knowledgeable real-world practicalities, as the preface says “the book is designed to help readers navigate the key decisions needed for a successful retirement experience.” It delivers! This is a book that does not belong on a shelf but in the hands to be read by anyone serious about planning for their successful retirement.HAROLD EVENSKY, Founder, Evensky & Katz and retired Professor of Practice, Texas Tech UniversityI spend my days considering ways to convince more Americans of the urgent need to start planning for retirement, and to include protection against the risks many overlook like outliving their money or market downturns at just the wrong time. With Retirement Planning Guidebook, my friend Dr. Wade Pfau has laid out a thorough process with suggested action steps to put the right plan in place to meet each person’s specific needs to live the life they want in retirement. That includes protecting your savings, covering your basic needs, funding your desired lifestyle, but also finding happiness and purpose; all within a well-researched and thoughtful framework. In addition to reviewing and expanding the breadth of my own retirement planning after reading the book, I shared it with my adult children in the hope that they will listen to the straightforward advice of an expert like Wade, because someday I may depend on them for my financial (and mental) well-being!JEAN STATLER, CEO, Alliance for Lifetime IncomeI have read the book, and I agree with experts in the field that it is the most comprehensive and well-written personal financial guide ever published. I have yet to read a book that contains as much detail, with references to excellent sources. I believe every financial planner offering personal finance advice should own a copy.I also believe that individuals near retirement (or in the early stage of retirement) who are willing to put in the effort should use this guide.ELLIOTT RAPHAELSON, Chicago Tribune column (December 5, 2021)By definition, a guidebook should provide useful information about a particular subject. Wade’s book does that and then some. Wade has written not just a guidebook but an encyclopedia that answers every single question a reader might have about retirement.What’s more, Wade takes what is often a complicated and confusing topic, a topic often filled with more than its share of contradictions, and provides the reader with the essentials required to create a sound retirement plan.In this book, Wade helps the reader understand the risks they will face in retirement and how to manage them. He provides an action plan to quantify goals and, most importantly, assess retirement readiness. He also examines the pros and cons of the various methods to create income in retirement and he demonstrates the use and value of annuities and risk pooling.What’s more, Wade provides the reader with action plans for Social Security, Medicare, and long-term care and incapacity, and he helps readers sort through the housing decisions they will likely need to make in retirement. Equally important, Wade helps readers put an action plan together to create tax-efficient income in retirement. And because retirement is not just about the money, Wade helps readers understand the non-financial aspects of retirement – like how to find passion and purpose, and how to maintain healthy relationships in retirement.And, as any good guidebook should do, Wade’s Retirement Planning Guidebook helps the reader navigate the key decisions for retirement success and learn how to monitor and adjust their plan, as they will surely need to do.ROBERT POWELL, CFP®, Columnist on Retirement at MarketWatch From the Author Writing this book has been a nine-year long passion project. This is the book I always intended to write, and the other three books in the Retirement Researcher Guide Series were spun-off along the way as my writing on some of these topics became so long that they constituted separate books on their own. Three of the chapters in this book summarize other books in this series, and ten of the chapters present new and original content. Let me show with Retirement Planning Guidebook’s Table of Contents how the other books in this series fit in:Chapter 1: Retirement Income Styles and DecisionsChapter 2: Retirement RisksChapter 3: Quantifying Goals and Assessing PreparednessChapter 4: Sustainable Spending from Investments [Summarizes How Much Can I Spend in Retirement?]Chapter 5: Annuities and Risk Pooling [Summarizes Safety-First Retirement Planning]Chapter 6: Social SecurityChapter 7: Medicare and Health InsuranceChapter 8: Long-Term Care PlanningChapter 9: Housing Decisions in Retirement [Summarizes Reverse Mortgages and adds new content]Chapter 10: Tax Planning for Efficient Retirement DistributionsChapter 11: Legacy and Incapacity PlanningChapter 12: The Non-Financial Aspects of Retirement SuccessChapter 13: Putting it All Together From the Back Cover The most comprehensive and well-written personal finance guide ever published; belongs on the front shelf of every financial planner, and of everyone serious about not only their financial future but also their well-being.WILLIAM BERNSTEIN, Ph.D., M.D., Co-Principal at Efficient Frontier Advisors and author of best-selling books including The Four Pillars of InvestingDr. Wade Pfau shows us why the concept of retirement is different for everyone. This definitive guidebook shows you how to recognize the strategies that will work best for you and your family. The anxiety that typically comes with making difficult long-term financial choices will be replaced with confidence because virtually every possible retirement planning option is explored – without bias. To me, that is critical. You will finally be able to take what you learn here and apply it to your personal comfort level, whether that involves taking more risk, looking for more safety, or somewhere in between. This retirement planning masterpiece is the first step towards a successful retirement plan!ED SLOTT, CPA, Retirement expert and author, Professor of Practice at The American College of Financial Services, and founder of IRAHelp.comPfau’s new Guidebook seeks to be a self-contained, comprehensive guide to retirement planning. And that’s exactly what it is. From Medicare, to Social Security, to portfolio management, to tax planning, the book provides the facts that you need and walks you through the important decisions to be made. When the subject matter is complicated, Pfau’s explanations remain clear and direct. When there are multiple reasonable options to consider, Pfau provides a frank discussion of the pros and cons of each. I wish this book had been available when I was beginning my study of retirement planning.MIKE PIPER, CPA, Founder of ObliviousInvestor.com Wade Pfau is one of the most gifted retirement researchers in the modern era, and his Retirement Planning Guidebook is his most comprehensive work to date.  A “must-read” for anyone within 5 years of retirement, this book provides everything you need to know to ensure you’re ready to live the retirement of your dreams.FRITZ GILBERT, Founder of TheRetirementManifesto.com and author of Keys to a Successful RetirementIf I had to pick one word to describe this book, it would be thorough. I particularly enjoyed the section on retirement income styles; rather than presenting one set of products or withdrawal strategies as “best,” Wade objectively covers the pros and cons of each. If you’re looking for data and research on how to structure a personal retirement income plan – this is your guide.DANA ANSPACH, CFP®, RMA, Founder of Sensible Money, LLC, and author of Control Your Retirement Destiny About the Author Wade D. Pfau, Ph.D., CFA, RICP®, is the program director of the Retirement Income Certified Professional® designation and a Professor of Retirement Income at The American College of Financial Services in King of Prussia, PA, as well as a co-director of the college’s Center for Retirement Income. As well, he is a Principal and Director for McLean Asset Management and RISA, LLC. He holds a doctorate in economics from Princeton University and has published more than sixty peer-reviewed research articles in a wide variety of academic and practitioner journals. He hosts the Retirement Researcher website, and is a contributor to Forbes, Advisor Perspectives, Journal of Financial Planning, and an Expert Panelist for the Wall Street Journal.  Wade’s newest book is Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success. He is also the author of the books Safety-First Retirement Planning: An Integrated Approach for a Worry-Free Retirement, How Much Can I Spend in Retirement? A Guide to Investment-Based Retirement Income Strategies, and Reverse Mortgages: How to Use Reverse Mortgages to Secure Your Retirement. Read more <div id="

  • WHAT IS NEW IN THIS BOOKThe RISA score was invented and verified by Wade and his sidekick Alex Murguia. This is a new tool you will not see elsewhere. You need to start with this tool. It will make sorting all the options much easier. Once you understand your own RISA score, you’ll quickly sort through possibilities and confidently discard the poor fits so you can focus on the options that suit you best.WHY SHOULD SOMEONE BUY THIS BOOKI spent 2 years, full-time, studying my options for withdrawals from a retirement portfolio I’d been saving for decades. The deeper I got, the more options I found to investigate. It was certainly a rabbit hole, and once I finally was satisfied that I had examined all the options, understood the pros and cons of the options I chose, I finally felt ready to put together a withdrawal plan and tweak my investment plan.If this guidebook had been available, I could have shaved 18 months off that 2 year study. 
Options that would never fit would have been eliminated from study if I’d had this book. I wasted a lot of time studying options that others were using, because I wanted to be sure I wasn’t overlooking something. And many things I spent time worrying and fussing over, would have been confirmed if I’d had this guidebook. 
WHY IS THIS IMPORTANT?I have an MBA and went to law school. How the heck will less educated savers navigate this? I’ve worried about that for the last 4 years. While I was worrying, Wade Pfau was building a solution.I never would have guessed that spending my savings would be harder than building my savings. All of us seem surprised by this, as we reach the peak, take a few selfies, and then ponder how to get down the mountain safely.Before you meet with a financial advisor, a financial planner, or your cousin’s brother-in-law who is an insurance agent, read this book. You’ll be more of an informed consumer, and not a “sheep being lead to slaughter” which is how we are referred to in the industry.This is aptly named as a guidebook. Most chapters have a checklist for your use. All chapters have reference books for the over-achievers among us. (I read most of those plus a pile of less helpful books.) At the end, a checklist of tasks will keep you on track. This book is your homework, for the most important test you face, retirement!WHO SHOULD BUY THIS BOOKAnyone over age 50 is a candidate for this book. A careful reading will be amply rewarded by a more secure retirement, which is worth much more than the price of the book and the value of your study time.WHO IS THE AUTHOR?Wade Pfau is well known as a financial researcher, and specializes in retirement planning. I’ve read his other books, and many of his papers. Wade is deliberate and cautious in his approach. He is among a handful of authors and researchers I follow and pay close attention to.
  • As we were transitioning to our retirement several years ago I was fortunate to stumble across Dana Anspach’s book, Control Your Retirement Destiny. It has been a great resource for us and I continue to recommend it. Wade Pfau’s latest book in his series, Retirement Planning Guidebook, is its equal.Although this is the fourth book in the series, it is foundational for the other three, providing a detailed and comprehensive journey through the entire planning process. While written clearly, this is not a beach read. Each of Wade’s book is worthy of a read if you are comfortable with research-driven content. That said, begin with this book.It’s worth calling out several sections in Retirement Planning Guidebook that I haven’t seen covered — or covered as well — in other books.First, the chapter on retirement income styles is unique in the literature and well worth the price of this book by itself. The methodology presented reaches far beyond the “risk assessment” tool that is ubiquitous in the financial planning industry, offering the potential for much deeper and more actionable insights into your investing mindset.Second, this book provides the most detailed discussion of the funded ratio methodology that I have found. Personally, this is a tool we’ve relied on in our long-term planning and, from my perspective, it should be a component of every retiree’s plan. If this is a new concept for you, read Wade’s book.Third, fundamental to retirement is answering the question of whether to self-manage your retirement portfolio or engage a professional advisor. This book should help you make that call for yourself. If you reach the end of this book with new clarity and insights, then perhaps you can travel the path without assistance. If not, then you should explore the value of a competent retirement advisor.Avoid the mass of “retirement planning” literature, which offers nothing more than an author’s retirement gimmick, and focus on those authors who provide valuable, evidence-based guidance. Your retired self will thank you for your foresight.
  • Finally a comprehensive and straightforward approach to the obfuscated retirement planning landscape. Dr. Wade Pfau provides a simplified process to build a retirement customized to your unique situation. His approach works for self investors and those that hire planners. First a little background. I have utilized planning tools from Fidelity, Vanguard, and Schwab. I have reached out and discussed services with many different financial planning advisers. Each and everyone of these tools and services was helpful but lacked a complete and comprehensive understanding of what a successful retirement involves. The Retirement Planning Workbook provides a comprehensive educational approach which starts by developing an understanding of your retirement income style. It then provides actionable and understandable background on virtually all aspects of retirement including risks, quantifying goals, sustainable spending, annuities, social security, medicare & health insurance, long term care planning, housing decisions, tax planning, legacy & incapacity, and non-financial retirement issues. Dr. Pfau presents the concepts, provides back ground data to make an informed decision, and provides an outline for key decisions at specific ages. My only complaint is I wish he had written this book sooner. It is a long read at around 450 pages, but you can pick and choose which areas you want to focus on. Good Luck!
  • The book has hardly been used and it is already falling apart ?
  • I’ve read 2 other books by this author which were excellent. Because this book included a summary of those books, I hesitated buying this one but I am delighted with this purchase. This is a must read for persons considering planning their financial aspects of retirement in my opinion.

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