Customer Reviews

Live Long Live Rich: Creating Your Retirement Paycheck with Award Winning Retirement Planning

5 star:		(8)
4 star:		(0)
3 star:		(2)
2 star:		(1)
1 star:		(0)

 

 

I haven't finished reading this book yet and I'm already hoping for a sequel. This book is so easy to follow and understand. The one issue that no author seems to address is how do you create a paycheck or generate cash flow from your investments. Live Long, Live Rich covers this topic very well. And as far as the software that Mr. Rappaport recommends, I've already upgraded to the full version. It's as easy to use as stated. So, with the mouse in one hand and the book in the other, our retirement plan is becoming much clearer. This book has helped us see the big picture.

Most books are too filled with financial techno-babble. Now this book does have terms like "Annuity" and other specific financial terms but the good part is that it explains these concepts in a clear and understandable way. Most books just "assume" a certain amount of knowledge and proceed leaving the reader confused. The retirement planner software on the CD is also a big eye opener.

I just retired and have been speaking with my financial planner about how much income my accounts can produce and at what withdrawal rate I should use for my 401K. I brought up just a few of the points made in the book that my broker had not considered and we are using them as the basis for my plan. Everytime I read a chapter I seem to be able to understand and use the information in discussions with my broker. When I think of a change I might make I just plug the new numbers into the software and see how it will effect my results. It's easy to use and adjust. Best of all, my broker asked for the name of the book.

I have read quite a few books and have gone to several seminars and always left feeling unsure about what to do next. I was searching for a new source and was skeptical about everything but as ussual took another chance on Live Long Live Rich and I'm glad I did. I finally understand exactly what I need to do. The book and software made it easy to get a picture of where I am now and where I want to be. I looked up the software and it is much more expensive seperately.

This book brought clarity to how we are planning our retirement. His clear explanations of retirement income, how we determine what we need and how we continue to create wealth made me feel our finances are now fully under control. I loved using the program included with the book - my husband and I could literally 'see' what is going on with our money.
I highly recommend this book to anyone looking to better understand and control their retirement.

This is a serviceable and easy-to-follow introduction to allocating retirement investments to produce income. The basic messages of this book are that there are no risk-free investments, you must diversify to reduce your risk, and you must do your own "homework" but not hesitate to seek out professional advice. No argument here. Although the advice is heavily weighted towards systematically drawing income from mutual funds, the author does a good job of reviewing a variety of individual investments that include annuities, REITS, ETFs, closed-end funds, and MLPs. He might also have noted the popular Canadian energy trusts. Not to mention preferred stocks as a source of steady income is a more obvious omission. Still, the author's comments on the risk of owning closed-end funds that use leverage are prescient - recently some have been forced to interrupt or reduce their distributions. While the risks of owning individual securities may often be greater than that of mutual funds so also is the income produced by them.

Brief mention is made of limiting income withdrawals from your portfolio to 4-5% of the principal. This issue of sustainable withdrawal rates is an important matter for retirees and has been analyzed extensively. More could have been made of this. The author comments on the importance of determining how much a retiree needs to earn on his current assets to support their retirement goals - but specific examples of this "cash flow analysis" would have been helpful (Note: My used copy of this book did not include the financial calculator software CD that is mentioned in the book, and I did not try to download it from the author's website where this information could presumably be tailored to the reader's situation). Picky-picky: There are some minor editing issues (pp. 32,46,52,58,79,130,145,and 158) and some of the charts will strain a baby-boomer's eyes (p.99). Summarizing, no new ground is broken here, but it is a good place to start doing your 'homework'. I have not doubt that the author's clients are in good hands.

I purchased this book in the hopes that I would be able to help my father increase his income. He is well into retirement and his income is not keeping up with his expenses. The book was easy to use and finding additional ways to increase his income was easy to do. I recommend this book to anyone who not only wants to increase investment income but needs to help others do so as well.

Craig Rappaport has done a GREAT job in taking the mystery out of financial investment jargon. Terms are brought down to earth so that we all can understand investments and investment strategy. This book will empower you to ask smarter questions and make smarter decisions that can result in greater wealth accumulation at retirement. If you've sat helplessly listening to a financial advisor talk over your head, this is the book for you. Instead of being at the mercy of an advisor, you will have a greater knowledge of financial options and be better able to work with an advisor to meet your financial wealth expectations. I only wish he had written it 20 years ago!

As an advisor who works with folks near retirement I purchased Live Long, Live Rich as an addition to my library. After reading it I "loaned" it to a client. The next week he told me "I Get It. I now have a better understanding about inflation, and some of the terminolgy you use." Then I had to call him 3 times to get my book back. If you are just starting towards investments or near retirement I would recommend this book. A very small investment in your future.

This book is full of very sound financial advice. However, it's really for those who are about to retire or are already retired. Please note that the book was written in 2007, just before the financial world changed forever. It would be foolish to think about retirement saving without considering the market volatility that's now a real concern. This book isn't complete without an update that makes it current. I hope the author will listen.