Buckets of Money: How to Retire in Comfort and Safety [Hardcover]

Raymond J. Lucia (Author)

Book Description

Publication Date: February 23, 2004

A proven way to financially prepare for retirement

Are you wondering if you can make your retirement savings last?
Concerned about inflation reducing your purchasing power?
Worried about the stock market's violent swings?

In Buckets of Money: How to Retire in Comfort and Safety, nationally recognized Certified Financial PlannerTM and radio personality Ray Lucia offers you a smart and conservative way to protect and grow your nest egg-so you can enjoy a comfortable retirement without worrying about your money running out.

Developed by Lucia over his thirty-year career as a financial planner, the "Buckets of Money" technique is a proven way to achieve both income and growth, while guarding against the ravages of inflation. Buckets of Money is filled with in-depth insights and practical advice that will help you assess your retirement situation, save the money you need to last your entire lifetime, and adjust your plan to good times and bad.

Regardless of your age, income, net worth, or investment experience, you need to have a solid plan for your retirement years. Buckets of Money provides you with such a plan, and shows you the best way to implement it.

Product Details

• Hardcover: 320 pages
• Publisher: Wiley; 1 edition (February 23, 2004)
• Language: English
• ISBN-10: 0471478660
• ISBN-13: 978-0471478669
• Product Dimensions: 6.4 x 1.1 x 9.3 inches
• Shipping Weight: 9.6 ounces (View shipping rates and policies)
• Average Customer Review: 4.5 out of 5 stars  See all reviews (31 customer reviews)
• Amazon Best Sellers Rank: #139,041 in Books (See Top 100 in Books)

Editorial Reviews

Review

"...this book is a must-have if you want to make the most of your financial opportunities." -- Jordan Goodman, Author of Everyone's Money Book

This book is a must-have if you want to make the most of your financial opportunities. -- Jordan Goodman, Author --This text refers to an out of print or unavailable edition of this title.

From the Author

The Richest Guy In The Cemetery

"Being successful in the retirement game doesn't mean becoming the richest guy in the cemetery...it means living as richly as possible the latter third or so of your life."

-- Ray Lucia, CFP --This text refers to an out of print or unavailable edition of this title.

See all Editorial Reviews

Product Details

• Hardcover: 320 pages
• Publisher: Wiley; 1 edition (February 23, 2004)
• Language: English
• ISBN-10: 0471478660
• ISBN-13: 978-0471478669
• Product Dimensions: 6.4 x 1.1 x 9.3 inches
• Shipping Weight: 9.6 ounces (View shipping rates and policies)
• Average Customer Review: 4.5 out of 5 stars  See all reviews (31 customer reviews)
• Amazon Best Sellers Rank: #139,041 in Books (See Top 100 in Books)

More About the Author

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Most Helpful Customer Reviews

65 of 72 people found the following review helpful

4.0 out of 5 stars Easy to understand September 24, 2002

By A Customer

Format:Hardcover

This is not really a book about how to amass your retirement savings, but rather what to do with it when you are retired. The system is simple. You have 3 buckets. In bucket number 1 you put your money for the next 5-7 years. Bucket number 2 is for the next 5-7 year period after that. And finally, bucket number 3 is for the money you will not need for 10-14 years. The book then discusses the proper investment choices for each bucket, how to rebalance them when necessary.

The plan makes sense and seems simple. The only part I was not entirely clear on is when to move items from bucket 3 to bucket 2. Maybe I missed it. In any case, the book was a good read and I plan on reading it again when I get closer to retirement.

I'm looking forward to Ray's next book (the radio show is good too).

101 of 122 people found the following review helpful

5.0 out of 5 stars A Must Read January 8, 2004

By "e_moscato"

Format:Hardcover

I first became aware of Mr. Lucia and his "BrainTrust" (Rick Plum, Rob Butterfield, Jr., and John Dean) when his long-running (14 year) San Diego-based radio show went national and became syndicated with Business Talk Radio at the end of 2000; I thank the day I stumbled upon this sage. The show has become increasingly popular and now airs in around 60 markets. Once limited to the greater San Diego area, this show is now educating people all across the country. This book continues the process of finally bringing Ray Lucia to an even broader audience.

Lucia's show and this book avoid the ridiculous "buy, sell, hold" approach that permeates the work of so many other financial gurus. This is not a "get rich quick" or "doom and gloom" book. Lucia does not pretend to know what direction markets or any individual security is going in the short-term. He sticks to what he knows (and what you need to know). This book is about much more than asset allocation and diversification. It is solid advice based on the prestigious 30-year career of Lucia and his highly competent associates.

If you want books that teach you how to learn how to do a solid fundamental analysis of securities, I recommend the classics by Benjamin Graham, by Peter Lynch, by Philip Fisher, by Louis Engel and about Warren Buffett. If you want a book that takes a refreshing approach and truly carves out a niche by focusing on financial planning, Lucia's book is the book for you. In many ways, Lucia's book is a more relevant read than any of the above mentioned authors.

Believers in an efficient market understand the other authors can only take you so far. Lucia takes you several steps further by sharing financial planning strategies that will work for everybody.... This is what is lacking in the vast majority of financial literature. Authors spend too much time trying to tell you how to find the next Microsoft. In the process, they neglect powerful basic and advanced personal finance strategies and investment tools. This is what truly reduces risk and adds value to one's portfolio over time. The vast majority of investors will get more from Lucia's book than any other book they read in their lifetime.

I enthusiastically recommend Lucia as must reading for any investor in any stage of his/her life. This is a great book for a grandfather to buy to read and pass on to his daughter, who can then pass it on to her son. People just starting out will greatly benefit from this book in that it will tell them as much about what not to do, as what to do. More sophisticated and astute investors will benefit from Lucia's empirical study based recommendations on how to allocate and balance one's portfolio. I have acquired more practical knowledge from Mr. Lucia than I have through my undergraduate studies, graduate studies, and other studies combined.

It is a rare and refreshing treat to find someone in this field who not only has such a vast body of knowledge that he is willing to share, but is able to communicate it in such an articulate manner. Lucia not only recommends the right things, but he does things the right way. Lucia is altruistic and passionate. In terms of financial planning savvy, Lucia is by far the best of the financial gurus. In terms of the intangibles, in his words you will find a motivator who cares deeply about his family, his work, and sharing his vast body of knowledge with people from all walks of life so as one of his mottos goes, "You will be successful in your money, your business, and your life."

Lucia may not (yet) get the press and hype of some of the other financial gurus that have television shows, radio shows, and books. However, if you read his book, you will see he is the premier guru in the country. If you don't agree with this comment after reading his book, I recommend you read his book twice and then listen to his radio show. Read more ›

19 of 21 people found the following review helpful

5.0 out of 5 stars Excellent book for a more realistic approach towards savings and retirement. August 30, 2006

By Chris

Format:Hardcover

In some ways this book is like the other books out there: work hard, save money, let it compound. However, he does preach something that no other book I have read teaches. Most people say you save all your life and then you retire, and that is where they end their story. They focus on all the ways to save up enough money to retire and live off the interest. However, for most people that is impractical, and impossible for some. This book on the other hand gives you a good way to think about how to deal with your money in stages, and realize that retirement is not the end of your investing. Easy read, lots of good info, not too many stats to bog you down. Overall, very glad I read it.

7 of 7 people found the following review helpful

4.0 out of 5 stars Thanks to this book, we will still be able to retire on time (10/08) October 29, 2008

By M. Thomson

Format:Hardcover|Amazon Verified Purchase

I purchased this book 2 years ago, read it and decided I'd actually DO something when we were closer to retirement. Well, now we are 3 months away from retirement, I moved our 401k's to cash this year (before the crash) and thanks to Ray Lucia's ideas, we have enough cash for 12-15 years' expenses and unlike most people in this melt-down stock market, we will not have to postpone retirement. His theory is simple: 3 buckets: a bucket of enough cash to get you thru the 1st 7 yrs of retirement; a bucket of bonds to get you thru the 2d 7 years of retirement; a bucket of growth investments that you won't need for 15 years, which will hopefully get you thru all this market volatility. He does makes specific recommendations for each bucket, but the basic idea is simple and removes the risk of retiring too early and running out of money.

3/2010: My husband and I retired last year, and because of the 3 Bucket book, we did not have to postpone it. It didn't matter to us that the stock market crashed, because we had 15 years' worth of assets to draw from until we needed to pull from the stock market. I have recommended this book to all my friends who are nearing retirement. If you are within 10 years of retirement, you need to read this book and act on it!

24 of 30 people found the following review helpful

5.0 out of 5 stars Great tool for retirement November 18, 2002

By edward franks

Format:Hardcover

I really enjoyed reading Ray's book, and it helped me to understand the "Buckets" philosophy he talks about on the radio. It's a great retirement strategy, although you do have to be somewhat disciplined at saving to make it all work properly. It also requires you to take money from only about 5% of your portfolio each year, which some people may or may not be able to do, so if you're used to taking huge chunks of cash from your savings each year you might not be able to follow it. It seems rather foolproof (which I like), and while it doesn't promise huge returns on your money (it's very conservative), it does make sure that you never run out of money even if we run into another "bad run" in the stock market. I wish I read it two years ago, but that's the breaks.

I also enjoy his radio show, he's much better than that boring Ramsey guy that follows him. Maybe I'll get the nerve to call in one day and ask a question to the Braintrust!