Retirement Readiness: Creating Your Vision, Knowing Your Position, & Preparing for Your Future
Mike Bonacorsi, CFP
Peter E. Randall Publishing (2008)
Reviewed by Danelle Drake for Reader Views (11/08)
The day marked in red. Just the sound of it makes you a bit nervous. That day in red marked in your calendar, pinpointing the day of your retirement, will be one words cannot describe. As when you enter the wonderful world of adulthood/employment you are embarking on something that is unknown to you. Preparing to exit the workforce is just as important as when you were preparing to enter it.
“Retirement Readiness; Creating Your Vision, Knowing Your Position, & Preparing for your Future” is a guide to get you thinking, preparing and planning.
Jumping into Chapter 1, “See Your Future,” enables you to focus on your dream asking what plans you have for your day in red and the ones that follow. Many years ago people did not live for as long as they do now. The retirement lifestyle of today is very different from it was years ago. People are focusing on their health and now do way more than rock on the porch in a rocking chair watching traffic go by. About 80% of people today say they will continue to work after retirement – choosing what they would like to do. My father chooses to hand out grocery samples since his day in red. He was a business man at the local paper mill and had worked there since he was 21-years-old. Why did he work after retirement? He didn’t have to do anything; he was financially secure, and has more than enough money to last way beyond his years. He likes talking to the people in the store, for so many years he only talked business, now that he is retired he can talk to people for pleasure.
Chapter 2 lays the groundwork to “Create a Plan.” Chapter 3, “Take Inventory,” covers how you can estimate the amount of money you will need to work your plan. Your plan could go on smoothly for years, but as life, you will, at some point have problems. Chapter 4, “Bumps in the Road.” prepares you for the unexpected. And, when the time comes, Chapter 5, “Make Sure It Goes Where You Want It To Go,” gives you the information you need to begin planning your estate for when you are no longer with us.
In the concluding Chapter 6, “Now that I have Your Attention,” Mike Bonacorsi states: “This is what I want you to get from this book. As you get close to retirement, I want you to put together a plan and communicate with your mate. Understand what issues apply and what decisions have to be made and how they will affect your lives.”
You should really spend the $14.95 to purchase this book!
Just as the author intended, “Retirement Readiness” is a great item to get you thinking about your retirement. Easy to read and understand with worksheets throughout I would highly recommend this to people in their 30s and 40s so they can better prepare for their future.