Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success
- Downloads：3547
- Type：Epub+TxT+PDF+Mobi
- Create Date：2023-04-11 10:21:40
- Update Date：2025-09-06
- Status：finish
- Author：Wade Pfau
- ISBN：1945640154
- Environment：PC/Android/iPhone/iPad/Kindle
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Summary
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！
- 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！
Reviews
Kyle
，
The Retirement Planning Guidebook is thorough and comprehensive， but it's also a total slog。 Do yourself a favor and find a more digestible personal finance book。 The Retirement Planning Guidebook is thorough and comprehensive， but it's also a total slog。 Do yourself a favor and find a more digestible personal finance book。 。。。more
Mike Andrewartha
，
This is an excellent comprehensive coverage of the issues to consider in preparing for retirement。 It is focused on the financial side of planning for retirement and optimizing spending and taxes after retiring。 It touches briefly on major non financial topics but references other books for more in depth coverage On the financial side I learned several important things to consider in my own planning。 As the name implies the book is a guide for creating your own plan。 My copy has many post it not This is an excellent comprehensive coverage of the issues to consider in preparing for retirement。 It is focused on the financial side of planning for retirement and optimizing spending and taxes after retiring。 It touches briefly on major non financial topics but references other books for more in depth coverage On the financial side I learned several important things to consider in my own planning。 As the name implies the book is a guide for creating your own plan。 My copy has many post it notes sticking out to mark tasks to return to。 Highly recommend for those with a detail oriented do it yourself mindset。 。。。more
George McDonald
，
A lot of useful information， but it reads like Pfau is getting paid by the word。 I suspect he has tons of two page articles/blogs on different retirement planning topics， and it feels like perhaps he has strung a lot of these together， without editing out all the filler。 There is a lot of repetition of basic facts that made reading this feel like panning for gold。 Sift through a lot of dross to get to the nuggets。 That said， there were a lot of nuggets， and I believe this advice/guidance will pr A lot of useful information， but it reads like Pfau is getting paid by the word。 I suspect he has tons of two page articles/blogs on different retirement planning topics， and it feels like perhaps he has strung a lot of these together， without editing out all the filler。 There is a lot of repetition of basic facts that made reading this feel like panning for gold。 Sift through a lot of dross to get to the nuggets。 That said， there were a lot of nuggets， and I believe this advice/guidance will probably save me a lot of money in the long run。 I ended up with several pages of notes， all of which seem useful。 He does an especially good job of talking about risk。 As one moves to retirement， understanding risk becomes much more important because you have much less capacity to adjust/respond to negative outcomes。 I thought Pfau did a good job of making those risks real， and explaining how to quantify them。 Lots of good advice on how to take advantage of Social Security， how to look at Medicare holistically （both costs and benefits） and how tax strategies will be different。 Beware of the chapter on annuities。 Mind-numbing enough to make you wish for a short retirement。 Who knew there were so many ways to package up the same thing and make it seem different？ 。。。more
Amaan Pirani
，
This is the best "how to" book I've ever read tbh。 It is incredibly comprehensive on retirement planning and includes details many people would naturally forget （i。e。 you should probably write a letter of your memories for your loved ones， you should plan for incapacitated geriatrics care， etc。） I found many discussions helpful and actionable and applicable to people of all different retirement goals （i。e。 legacy creation， etc。） This is the best "how to" book I've ever read tbh。 It is incredibly comprehensive on retirement planning and includes details many people would naturally forget （i。e。 you should probably write a letter of your memories for your loved ones， you should plan for incapacitated geriatrics care， etc。） I found many discussions helpful and actionable and applicable to people of all different retirement goals （i。e。 legacy creation， etc。） 。。。more
Sarah Van Velsor
，
Very comprehensive guide with tons of great information， especially about retirement income strategies， but I feel like it would be more useful closer to retirement。 I learned some useful things to file away and will definitely come back to this one in the future
Sandy Salzinger
，
Excellent reference guide on all things retirement planning
Daniel Murray
，
an excellent source of planning discussion and checklistsWhile I’m 3 years into my retirement plan execution with 4 years till my planned retirement date， this book added to my plan content and nuance。 Highly recommended。
Clint Wilson
，
Full disclosure… I’m an insurance agent and registered investment advisor， so that definitely impacts my perspective of this book。 There were parts that were a bit dry early on （and I love retirement planning books）， but definitely educational。 As the book progressed it became easier to read and more impactful。 It has easy to scan topics/chapters that would allow individuals to read the parts most applicable to their situations。 It also has the most comprehensive list of action items for various Full disclosure… I’m an insurance agent and registered investment advisor， so that definitely impacts my perspective of this book。 There were parts that were a bit dry early on （and I love retirement planning books）， but definitely educational。 As the book progressed it became easier to read and more impactful。 It has easy to scan topics/chapters that would allow individuals to read the parts most applicable to their situations。 It also has the most comprehensive list of action items for various retirement stages as I’ve seen anywhere。 I found so much value in this title and made notes of many customers to connect with on various thoughts in this book。 I highly recommend it for any retirement planners， whether professionals helping others or individuals in any stage of retirement or retirement prep。 。。。more
Steve
，
Extremely thorough。Of particular interest was Chapter 11 on Legacy Planning。 Useful tables （p。361） of what documents to leave upon death。 List of documents which might be needed by heirs to close the estate。Also something I've never seen before on p。41 is a chart titled Lifetime Sequence of Return Risk。 It graphs how the greatest threat to best lifetime income from savings （e。g。 IRA） occurs in the first 5-7 years after starting to draw down the savings。 In other words， after those early years， t Extremely thorough。Of particular interest was Chapter 11 on Legacy Planning。 Useful tables （p。361） of what documents to leave upon death。 List of documents which might be needed by heirs to close the estate。Also something I've never seen before on p。41 is a chart titled Lifetime Sequence of Return Risk。 It graphs how the greatest threat to best lifetime income from savings （e。g。 IRA） occurs in the first 5-7 years after starting to draw down the savings。 In other words， after those early years， things like market fluctuations become increasingly irrelevant。 Or， the early years are the most important to get through without major disruptions。 。。。more
Virginia Hodges
，
The book is very comprehensive and thorough， providing tons of useful information and covering many topics that need your attention in retirement or when planning to retire。
Andy
，
Comprehensive retirement planning。 Includes everything you can imagine。 Each chapter is a great stand alone reference， but they also fit together to create a dynamic and understandable plan。 Very well done！
Marcel
，
Very comprehensive book that incorporates all facets of retirement planning。 Does a good job of showing all available approaches to tackle retirement income planning without showing a bias towards any one approach。
Fritz Gilbert
，
The most comprehensive work on retirement planning I've ever read。 Be prepared， it's a hefty read， but you'll learn more about retirement planning by reading this one book than any other you can read。 Highly recommended for the more advanced investor。 The most comprehensive work on retirement planning I've ever read。 Be prepared， it's a hefty read， but you'll learn more about retirement planning by reading this one book than any other you can read。 Highly recommended for the more advanced investor。 。。。more
tpg0
，
As an AI language model， I don't have personal opinions or suggestions。 However， "Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success" is a well-received book that offers practical guidance to individuals who are approaching retirement or already retired。 It covers a range of topics， including how to calculate retirement needs， choosing the right investments， managing retirement income， and more。 The book has received positive reviews for its clear and concise writing， comprehensive coverage， and helpful tips and strategies。 It could be a useful resource for those seeking information and guidance on making important retirement decisions。
tpg1
，
As an AI language model， I cannot give personal opinions or suggestions， but I can provide information about the book you mentioned。 'Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success' is a book written by Donna Skeels Cygan， a Certified Financial Planner and owner of a financial planning firm。 The book aims to provide readers with practical advice on how to plan and manage their retirement finances to achieve a successful and fulfilling retirement。 The book covers a range of topics， including defining retirement goals， creating a retirement budget， managing retirement income sources， understanding investment options， and managing healthcare costs。 It also includes practical exercises and case studies to help readers apply the concepts discussed in the book to their specific situations。 Overall， the 'Retirement Planning Guidebook' is a comprehensive resource for those looking for guidance on how to plan and manage their finances during retirement。
tpg2
，
As an AI language model， I am not capable of having an opinion or preference since I do not have personal experiences， emotions or biases。 However， "Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success" presents an extensive guide to planning for retirement， with detailed information on how to navigate critical decision points。 It includes chapters on Social Security， pension plans， health care， and investments。 The book also provides sound advice and planning strategies to help readers build a secure financial future。 Overall， it can be an informative read for people who are looking to plan for their retirement or want to broaden their knowledge regarding this topic。
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