Customer Reviews

How Much Is Enough Balancing Today's Needs with Tomorrow's Retirement Goals

5 star:		(6)
4 star:		(1)
3 star:		(0)
2 star:		(1)
1 star:		(0)

 

 

As a CPA and attorney whose practice is devoted to addressing clients' retirement and estate planning needs I especially liked that Diane McCurdy's How Much is Enough: Balancing Today's Needs with Tomorrow's Retirement Goals helps readers figure out their "money attitude." For instance, are you a spender or a saver? Once you understand your own spending patterns and habits you can take steps to avoid the financial pitfalls common to each attitude. Perhaps the most important benefit of the book is that it helps readers choose their "Enough Number"--the amount that will be "Enough" for them after they retire. And she doesn't forget to factor in all of those things that concern us the most, like how we will afford those special luxuries on our retirement wish lists. Great job Diane! I will definitely be recommending How Much is Enough to my clients.

James Lange, CPA/Attorney and author of Retire Secure! Pay Taxes Later: The Key to Making Your Money Last as Long as You Do

As a financial advisor, I recommend this book to clients who need a good overview of money management and retirement planning. There are lots of books on specific types of investing, but this one is different. It's a comprehensive tool that gives clients a better understanding of what we're doing and enables them to ask more pertinent questions. The "money personality" aspect is a very useful device in helping people understand why they use money the way they do. My clients report that the book is very motivating too.

Peter C. Browne, LUTCF

I was very pleased with this book. It address the big issues and stays on the high ground instead of getting into all the technical details. I found it very empowering and just the right mix of stories to drive the key points home.

I'm part of the baby boomer generation and as we near retirement age, we worry. Have we lived too extravagantly and not planned and saved enough for retirement?
That's what this book is all about. McCurdy reminds us that it's never a good idea to go into debt unnecessarily. She recommends finding inexpensive ways to treat yourself and saving up for the big things. Too many people that I know have indulged themselves with fancy cars and exotic vacations without thought for the future. Here's a book that will help balance out current needs (and desires) while helping plan for retirement.

Perhaps the previous reviewer should check this book out more carefully. I found the 401(k) contribution limits in Table 8.3 on page 123. It has more than enough detail for me, but doesn't pretend to be a comprehensive encyclopedia of financial instruments. I like the writing and the experience that the author brings to project. But I think the real strength of this book is that it helps the reader face his or her various denial strategies about their money. Diane McCurdy understands people really well and she's not going to let anyone get away without seriously examining their money issues. And it's so well-written, I'll even pay for the experience.

This book is for people who don't know much about finances and saving for RRSPs. It's easily readable, to the point and offers sensible advice based on personality profiles. The part I liked the most was about how to max. your RRSP contributions. The advice she gives on this topic is simple and works amazingly well.

Frankly, I had higher expectations from a Certified Financial Planner (CFP), but Diane McCurdy does a poor job of explaining even the fundamentals (e.g., fails to mention the 401(k) $4,000 catch-up for those 50 or older, pg. 122) and the examples are contrived (one of her clients was feeling "blue" because his neighbor had, apparently, more wealth; but then the neighbor consults with the author and he is actually worse off - sure). Her coverage of stocks and other financial instruments is incomplete and cursory, there is a marked lack of substance in this book for those who are seeking planning information for their retirement. The author's site www.how-much-is-enough.com has some interesting material but it is a far cry from what you can find in Morningstar's site or others such as Fidelity, Vanguard, etc. for financial planning, including retirement. I still think G. Edmund's book is superior although four years older, for actual planning also consider Paul Merriman's latest book (Live It Up Without Outliving Your Money!), which provides factual evidence of why mutual fund portfolio mixes perform well (perhaps not for everyone, but certainly for the non-professionals like myself) - sample portfolios are provided as well. As I said, a CFP who purportedly counsels clients should have released a much better product.

Diane takes complicated subject matters down to the basics for all of us, and does it beautifully. This is a must read for the responsible person desiring financial fulfillment and freedom. A retirement nest egg should start immediately, and Diane explains the various choices in one the most user friendly formats I've seen in a long time. Once we understand ourselves, our wants and needs, then the financial trappings/battles can be overcome and won. She does a masterful job in helping us identify who we really are.