I feel that as a disclaimer I should mention that other than the title of this article, there will be no references, allusions, or general information about movies and film. I am sorry if you are feeling betrayed, but at this point you might as well read on. Ok, as a teaser, there will be another popular television reference somewhere in this article, better read the whole thing to find it!
I will be reaching the ripe old age of 25 soon, and very shortly after that will be married. This is all great (minus the getting older part), but recently I attended a discussion on preparing for retirement. I feel like I need to capitalize that, Retirement! Now as the “official” IRS retirement age slowly grows further and further away from my age (which seems like it should be impossible, but it’s not) I started to think about what age I would like to retire at. Twenty-five was my immediate answer, but thanks to various needs like eating and paying off my various creditors, I decided I would like to retire at the age of 55.
At this point, I began to get a sense of great accomplishment. Yea!! I am retiring at 55. That’s really good Alex, keep up the hard work. Only after trying to figure out how to retire, and what I would need to do to accomplish this did I start to grow weak at the knees (luckily, I have a laptop, so I was lying down at the time). I quickly searched the SJCPL catalog and placed a whole slew of books on hold. This is a really good idea, unless you work at SJCPL and the shelvers get to come and tease you about being too lazy to find your own books. So, fast forward two weeks and I have now read some of the best titles SJCPL can offer and feel better, if not completely confident about investing for retirement.
Here are some of the titles you can find (you can check the availability of any title by clicking on the Title):
This long running series publishes a new Job hunting and careers edition yearly and has begun publishing for different areas as well. The retirement edition does not include very much information on investing, but does follow the planning for a healthy, happy family and lifestyle oriented retirement. What do you plan on doing in retirement? Working part-time? Traveling? Taking up a hobby? Moving into the house next to your Grandchildren and being a full-time nanny? This book tells you how to find your plan, and gives suggestions on making it happen.
I do not know about the claim to being the smartest retirement book, but this book is my favorite of the ones I have read. This is a general guide to basic investing for retirement. It goes through all of the main retirement plans, both group and individual. Then it breaks down what the author feels you should be investing in and why. It has some of the basic rules of each account and lists some of the strategies for reducing your tax payments in retirement (definitely a good thing). Most importantly it offers some advice on how to find additional information that you might need.
Another book in the series by author Daniel Solin, this book does have some of the general information from the previous book, but mostly focuses on group retirement plans. Despite the title, it looks at not only 401(k) plans, but 401(a), 403(b) and 457(k) plans as well. If your head is spinning out of control, you should probably read this book, just to get an idea of what plans are out there, and what all these letter and number combinations mean. I promise that I have not made up any of them. Although, I often get a look like I am clinking together bottles on my fingers and asking people to come out and play when I start rattling these numbers off. Yes, I have seen The Warriors. Yes, I obviously love that movie. Can you dig it? I also recently found out that my favorite scene, that of David Kelly clinking together bottles on his fingers and saying his famous ”Waaaaariors, come out to plaaaay” line was improvised.
If you are looking for a good starting point, this is it. Not only does it thoroughly cover the basics, but it has handy little tips and summaries at the end of each chapter. Once again, this is more of a general guide to learning about the various options for creating retirement accounts, and less about what specifically to invest in.
This book is another of the general self-help guides to retirement with one twist. Not only is it well written and insightful, but also has passages at the end of each chapter written by a Securities Attorney. These passages describe some of the horror’s, avoidable for the most part, that the Securities Attorney has seen throughout his career.
The coup de grâce of my personal favorites. This book is much more extensive than any of the previous titles. I would not recommend jumping straight into this book. The Truth about Money has an intensive breakdown of everything to do with money. It is not specifically a retirement book, but because it covers all aspects of money it helps you build a total package to make retirement planning easier. Ric Edelman has been ranked the #1 independent investor by Barron’s for the 3rd time (which is probably why his name is almost bigger than the title).
Now, if you thought you could just jump to the end of the article to read the other film/tv reference, boy were you wrong. In fact, you are probably telling yourself that this Alex guy is just pulling your chain, there is no other reference. Well friends, you may be right. Then again, you should read this whole article to find out.