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You Can Retire Sooner Than You Think Audio CD – Unabridged, November 4, 2014
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About the Author
- Publisher : Brilliance Audio; Unabridged edition (November 4, 2014)
- Language : English
- ISBN-10 : 1501214659
- ISBN-13 : 978-1501214653
- Item Weight : 5.4 ounces
- Dimensions : 5 x 0.75 x 5.5 inches
- Best Sellers Rank: #7,988,368 in Books (See Top 100 in Books)
- Customer Reviews:
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The author does harp on some of the statistics, such as unhappy retirees drive BMWs or happy retirees eat at Olive Garden. It helps to understand statistical analysis to put these statements into context. The number of people responding with a distinct survey answer has to be statistically significant in order to highlight it as a trend. I trust the author when he wrote that he had help from the former president of the Georgia Tech Math Club to verify the significance and confidence of the data. Owning a BMW was a data point that showed up repeatedly in the unhappy retiree survey results. Go figure.
After reading the book, I informally polled all of the retirees that I knew. The ones that were happy followed the happy retiree trends in the book and the ones that were unhappy shared the same issues list for unhappy retirees. Two of my friends actually went back to work because they didn't have enough hobbies and interests to pursue in retirement. Both of them were so bored that they needed a full-time job to give them something to do. Happy retirees have 3.5 core pursuits to fill their time.
Here's a quote that sums up the author's intentions well: "Start thinking of money as a way to support being happy, rather than manufacture it."
I recommend this book to anyone who is looking forward retirement. My children might even get this for Christmas.
The most aggravating aspect of the book is that he mentions clients who have built up large retirement savings but provides few details as to how. He spends more time talking about their hobbies and vacations than about the details of their investments. His first example is a couple with over $300,000 in combined income and seven(!) rental properties - not exactly your typical middle American couple. Later in the book he mentions a couple whose savings went from $37,000 to over a million dollars in 16 years but provides few details other than they inherited $200k, maxed out their 401ks (doesn't say for how long), and followed his "bucket" approach to investing but he doesn't tell you exactly what they invested in or for how long.
If you're the one at the party who's envious of the guy blustering about his 14% return last year, then this book is not for you. But if you've got your ego and spending under control, have a spouse or partner that doesn't care what the neighbors just bought, and thought that the tortoise was a hero and the hare was an idiot, then this is the book for you.
If you're already comfortable with financial terms and strategies, it may seem overly basic, but that's exactly why it is a great book. It captures the basic building blocks of happiness and uses those to make a compelling holistic argument as to why a very basic income focused financial strategy makes sense and is all you need. Again, an excellent (and quick and easy) read that I've since bought and sent to others.
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