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It would be great if we could all retire with a nice portfolio of savings and pension income, without having to worry about paying the bills most retired people pay.

Yet...many retirees are living out their retirement on the breadline without much hope for even going on holiday without being assisted by relatives or even handouts. Don't let yourself be one of them...it's never too late!

Title : Keys to Investing in Your 401(K) (Barron's Business Keys S.)
Author : Warren Boroson
Rating : 5 Stars out of 5.
Summary : Who the hell is Lucia Solorzano? I wrote the book alone!

In any case, I'm revising the book right now. And I would welcome any comments. Warren Boroson

Title : Social Security Benefits Handbook (Social Security Benefits Handbook)
Author : Stanley A. Tomkiel
Rating : 3 Stars out of 5.
Summary : SOUNDS GOOD

BUT DOSE THE BOOK HAVE ANYTHING ON SSI?? PLEASE LET ME KNOW SOON THANKS PAM

Title : You're Fifty - Now What?
Author : Charles R. Schwab
Rating : 5 Stars out of 5.
Summary : The Best Book on Financial Planning for the Over 46 Age Set

My biggest complaint about most books on financial planning is that they try to cover everyone with one approach. Mr. Schwab's book is a pleasant exception to this rule. By at least focusing on those of around middle years (46 through 56), he can be more specific and make the information more relevant to each reader. Naturally, I would like to see future books be even more focused than this one, but Mr. Schwab has certainly moved in the right direction.

I found this book to be vastly superior to 52 Weeks to Financial Fitness by Marshall Loeb, which was also written for people in this age category.

Mr. Schwab's profits as author from this book are all being donated to the Charles Schwab Corporation Foundation to provide for the needs of seniors.

The book is divided into two parts: First, planning for the rest of your life; and second, getting organized to implement that plan.

The planning section is very well done because it covers materials at a level of perspective that goes from the needs of most beginners to handling the needs of all but the most sophisticated people. Fundamentals are covered in sidebars so as not to clutter-up the main text for those who do not need the information. The subjects covered include how much money you will need in total, determining the value of what you have available, estimating the gap between your needs and resources, understanding how to think about asset allocation in your investment funds, establishing the proper cash flow to match your needs, and readjusting your investment mix over time.

Each section is clearly written and provides formats to make it easier for you to assemble and think about your information. I was particularly pleased to see Mr. Schwab challenge some conventional wisdom about financial planning. Many people use a rule of thumb that you will need 70% of your preretirement income. In practice, many people find that they spend more than that because some costs go up more rapidly than inflation, like medical care, or they take on new interests. Mr. Schwab suggests 90%. I think even that may not be conservative enough. I think a better assumption is to have the percentage grow over time, slowly. Eventually, it will probably exceed 100%.

In addition, many people will tell you to plan on spending 6% of your assets each year after you have to start drawing on them. Mr. Schwab wisely suggests that 3-4% will be more appropriate for most people. I liked that advice very much.

The advice on investing is much more conservative than you would expect from someone who heads an on-line brokerage house. But appropriately so. He suggests you stay in common stocks as long as possible, because you may well live much longer than you think. But he has all but 10% of your portfolio in either no-load index funds or conservative bond and cash positions. If you skip the idea of owning any individual stocks, the advice is quite appropriate for the average person. It also has you reducing your exposure to stocks over time, as the years appraoch when you will need the income. So even if stocks stop performing well (as some warn) in the next few years, you will be relatively safe.

Part II of the book gets you into deciding whether you need a financial advisor or not, and how to select and work with one. It also looks at the most important questions about insurance, estate planning (get thee to a lawyer), and how to handle your donations so they bring you the most satisfaction and least after-tax cost.

The book has several other nice qualities. It emphasizes the rest of your life as being the "second half" rather than the downhill slide or some other negative concept. In sports, we all know that the winners are usually those who play the second half the best. Also, at half-time, the coach often makes adjustments that lead to winning performance. It is a very nice metaphor for financial planning at this stage in life. "What do I want for the second half of my life?" is the key question posed in the beginning of the book for you to consider.

I also liked the optimism of the book. Rather than focusing on the fear that people have about outliving their money, the book emphasizes the potential for good things to happen. You may live longer, and think of all the good things that could follow. "Anything is possible" was my favorite line from the book, which followed examples of wonderful accomplishments by seniors of advanced years.

Unless you already have been through this exercise recently with a financial advisor, I suggest that you get the book and use the exercises.

Further, I suggest you take even more time to think through the possibilities that the post child-rearing and tuition years may offer you. It's almost like getting to start over again, but with much more in the way of resources and wisdom.

Look for and find the best choices!

Title : Cashing in on the American Dream: How to Retire at 35
Author : Paul Terhorst
Rating : 5 Stars out of 5.
Summary : Fifteen Years Later, They're Still Retired

This book, along with Your Money or Your Life, changed our lives. By following the advice outlined in these two books, we were able to quit our jobs in our forties and pursue other interests. We have been free of the daily grind for over four years now, thanks in part to Paul Terhorst, Vicki Robin and Joe Dominguez (authors of YMOYL).

In a conversational style, Terhorst explains how he realized his job was sapping the life out of him, and how he used his skills as an accountant to devise a plan that would enable him to retire at 39 years of age. Unfortunately, the specific financial advice he gives (invest in high-yield certificates of deposit) is no longer possible. But number-crunching is not the most important message that Terhorst has.

Cashing in on the American Dream advocates a no-nonsense approach to determining just what you want in life. Do you want to be free of working for others? Then it might mean giving up your car and dinners out. But it doesn't have to mean giving up what you really love (or need). Terhorst and his wife, Vicki, have been retired almost twenty years now and have spent much of it traveling the world. They have health insurance abroad, because it's cheaper than U.S. insurance (where we still have no national health insurance), and better.

The Terhorsts have their own website and I like to check in on them once or twice a year. The fact that they have made their plan work all these years is more important than any advice they have. Cashing in on The American Dream is an inspiring book. If they could do it, why can't you?

Title : The New Golden Door to Retirement Living in Costa Rica
Author : Christopher Howard
Rating : 1 Stars out of 5.
Summary : Great book--if you lack common sense

This book is great if are planning on traveling to Costa Rica as a tourist for a short amount of time; however, it really does not emcompass the complexity of moving or investing in a foreign country. Don't be fooled--this book lacks substinative information on starting a business in Costa Rica, other than the overarching message that "Not everything in the States will work in Costa Rica." Oh, really? My other favorite section was "How to Find a Nice Girl." After "interviewing hundreds of quality Costa Rican women" the author managed to whittle through the unrespectable, poor, uneducated women who were only after him for his money and find a nice girl. I guess the real shame is that he wasn't able to complete this process through a mail-order catalog.

Title : The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich
Author : David Bach
Rating : 3 Stars out of 5.
Summary : Won't suit everyone but good for what it is...

The Automatic Millionaire outlines a method of becoming rich through a combination of scrimping and saving - despite its dynamic, exciting title, that really is all there is to it. The "automatic" part is no more than advising the reader to set up standing orders, direct debits or deductions from monthly wages, straight into a savings account (so you're not tempted to spend it). That's it.

The outlined strategy will work IF you start young enough. The examples given assume the aspiring millionaire is in their early 20s - plenty of time to make GBP1m through the power of compound interest - but too late for many people.

My main disappointment with the book is that the strategy outlined is for the long-run (40-50 years) so you'll be about 65 when you make that million. For anyone looking for a faster alternative, this isn't it. If you are (or know someone) who is 15-25 years old, I would recommend you get this book and follow its strategy (about savings in particular, not sure I agree with the pensions advice). Doing so will virtually guarantee financial security upon retirement. But if you want a strategy that delivers faster-returns, look elsewhere.

However, regardless of your age, the book outlines sensible (and widely-known) principles of personal money management so it's valuable for those who have no idea where to begin. But if you're already pretty savvy about "paying yourself first" and watching the pennies, you will get limited value from this book.

Title : Celebration
Author : Harry Crews
Rating : 2 Stars out of 5.
Summary : An unbelievably lame tale from my favorite author. Bummer.

I've savored and passed around every Crews novel in print, but I had to force myself to finish this one. If you've never read a Harry Crews novel, don't start with Celebration. Skip it and pick up Scar Lover, Feast of Snakes or Knockout Artist and see the strange genius of Crews at its finest. His brilliance is in the way he touches deeply into the lives of disturbed outcasts and makes you laugh out loud and fall in love with all of them.

Celebration has the cast of outrageous characters that I love about Crews's novels, but here they just seem ridiculous and silly with none of Crews's previous characters' charm and wit.

The jacket art, depicting the gorgeous 18 year old Too Much, is the best thing about this book. Too bad Crews can't convince us that such a creature exists, even in Forever and Forever, a Florida trailer park for eccentrics at the end of their miserable lives.

Too Much shares a trailer and a giant bath tub with Stump, the elderly owner of the park whose missing hand and resulting nub is the main reason she's with him. "Had it been possible, she would have taken him inside her all the way to the shoulder." If you think the names of these characters are hard to swallow, you have an idea of how much disbelief you will have to suspend to get this one down. It's as if Crews had his students write this one as a class project.

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