Double Your Retirement Income: Three Strategies for a Successful Retirment [Hardcover]

Peter Mazonas (Author)

Book Description

Publication Date: August 5, 2005

As corporations and the government continue to shift the responsibility for retirement savings to workers, employees at all economic levels must develop a personal plan to ensure a financially secure retirement. In Double Your Retirement Income, financial professional Peter Mazonas provides readers with the tools and information needed to overcome retirement obstacles. Beginning with a broad overview of the economic realities readers will face, this comprehensive guide helps them take a step back and make an honest assessment of what it’s going to take to retire on their terms. Filled with in-depth insight, expert advice, and illustrative charts and graphs, Double Your Retirement Income shows readers how to effectively manage Defined Contribution Plans, understand Defined Benefit Pension Plans, buy and hold a balanced portfolio of no-load, and much more.

Editorial Reviews

From the Inside Flap

There was a time when you could expect to be rewarded for years of loyal job performance with a relatively comfortable retirement. And even if you failed to save as much as you should have, Social Security was there to cushion the fall. Unfortunately—whether you're a professional or a union worker—those days are long gone. In the absence of these safety nets, you'll be forced to rely on your own savings as you head into retirement.

Financial professional Peter Mazonas is familiar with the obstacles we all face when it comes to retirement planning, and in Double Your Retirement Income, he provides you with the tools and information needed to overcome them. Beginning with a broad overview of the economic realities you'll face while developing a strategy to reach your retirement goals, this comprehensive guide helps you take a step back and make an honest assessment of what it's going to take to retire on your terms.

Double Your Retirement Income quickly moves on to outline proven strategies for building and growing your retirement portfolio, while balancing current financial priorities, such as home expenses and a child's education. Whether you've just started saving or are closing in on retirement, the detailed information revealed within these pages will result in improved retirement income. Topics discussed include:

• Refining your budget and looking for new money to commit to savings
• Effectively managing Defined Contribution Plans—such as 401(k)s, 403(b)s, and profit-sharing plans—and understanding Defined Benefit Pension Plans
• Saving more for your retirement by educating your children with other people's money—loans, grants, and scholarships
• Buying and holding a balanced portfolio of no-load, low-fee index tracking products (such as ETFs and mutual funds) to double your retirement income
• Tax-efficient methods for drawing monthly or quarterly income out of your retirement portfolio

As the government and corporations shift responsibility for retirement savings to workers, employees at all economic levels must now save and invest for themselves. Filled with in-depth insight, expert advice, and illustrative charts and graphs, Double Your Retirement Income can show you how to take an active part in your retirement destiny and make more out of what you already have.

From the Back Cover

DOUBLE Your Retirement Income

As corporations and the government continue to shift the responsibility for retirement savings to workers, employees at all economic levels must develop a personal plan to ensure a financially secure retirement.

Financial professional Peter Mazonas is familiar with the new obstacles we all face when it comes to retirement planning, and in Double Your Retirement Income, he provides you with the tools and information needed to overcome them. Beginning with a broad overview of the economic realities you'll face while developing a strategy to reach your retirement goals, this comprehensive guide helps you take a step back and make an honest assessment of what it's going to take to retire on your terms.

Filled with in-depth insight, expert advice, and illustrative charts and graphs, Double Your Retirement Income will show you how to:

• Effectively manage Defined Contribution Plans—such as 401(k)s, 403(b)s, and profit-sharing plans
• Understand Defined Benefit Pension Plans
• Buy and hold a balanced portfolio of no-load, low-fee index tracking products (such as ETFs and mutual funds) to double your retirement income
• Save more for your retirement by educating your children with other people's money—loans, grants, and scholarships
• And much more

See all Editorial Reviews

Product Details

• Hardcover: 232 pages
• Publisher: Wiley; 1 edition (August 5, 2005)
• Language: English
• ISBN-10: 0471714011
• ISBN-13: 978-0471714019
• Product Dimensions: 9.2 x 6.4 x 0.9 inches
• Shipping Weight: 13.6 ounces
• Average Customer Review: 4.5 out of 5 stars  See all reviews (4 customer reviews)
• Amazon Best Sellers Rank: #2,375,723 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

3 of 4 people found the following review helpful:

5.0 out of 5 stars What a chump I have been!, September 18, 2005

By 

Jason P (Chicago IL) - See all my reviews

This review is from: Double Your Retirement Income: Three Strategies for a Successful Retirment (Hardcover)

A must read for all of us underfunded baby boomers. There is something new for everyone. Mazonas lays bare an understanding of why we never got ahead investing I stocks and mutual funds. His reasoning and the math of why index tracking products are our salvation is to good to pass up.

What a chump I have been! I payed for my kids education out of pocket each year because I could. Mazonas' explanation of how much better off I would be now if I had used student loans and while funding my pension plan is astounding.

3 of 4 people found the following review helpful:

3.0 out of 5 stars Investing should be boring., September 1, 2005

By 

Mr. Lu. (Denver) - See all my reviews

This review is from: Double Your Retirement Income: Three Strategies for a Successful Retirment (Hardcover)

This is another book on the never ending topic of retirement. As many others it claims to have the formula that will allow you to retire with more money than you thought possible. It advocates invest all your retirement portfolio on index funds that track the market. Without judging if this is right or wrong; you should use caution as with any other "magical" investment mix and do what's best for you.

Mazonas tells us that by investing in those funds the savings on commissions and fees together with the miracle of compounding interest we will be able to beat 80% of the investments vehicles out there. Well, I have two problems with that; First if you are invested in securities that consistently appreciate 10% or 15% a year (and they do exist) and that pay dividends you are still better off than with index funds. Second, many 401k out there do not offer index funds, or if they do you may have only one option. And I hope you know better than to put all your money in just one basket.

So take it for what it is, another book with sound advice, but remember is not the Bible.

One annoying point is that we are continuously being directed to the author's website. RetireYes! to make use of the tools offered there. Well, there is no tools or forms or anything of the sort there, apparently it is a work in progress and it's not completed.

5.0 out of 5 stars Our Retirement Security, February 6, 2008

By 

Walter W. Ko "Walter Ko" (St Louis, MO United States) - See all my reviews
(REAL NAME)   

This review is from: Double Your Retirement Income: Three Strategies for a Successful Retirment (Hardcover)

Peter gives a road map to a successful retirement by doubling retirement income. He offers practical advice on budget, planning, investing with details in the uncertainty of the safety net entitlement of Social Security and pension.

Following his lessons will probably get into a comfortable retirement. However, it requires allocation of resources. Sadly Americans saving rate is negative. This book only concerns personal finance with no attention to personal health. Diet, exercise and meditation will keep baby boomer healthy. If not, there will be no quality of life to enjoy in retirement despite the advance in medicine. A million dollar pension cannot buy too many years in long-term care, and health care. This is a must read book for the preparation of a successful US retirement.