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Live it Up without Outliving Your Money!: 10 Steps to a Perfect Retirement Portfolio Hardcover – April 1, 2005


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Product Details

  • Hardcover: 256 pages
  • Publisher: Wiley; 1 edition (April 1, 2005)
  • Language: English
  • ISBN-10: 0471679976
  • ISBN-13: 978-0471679974
  • Product Dimensions: 9.2 x 6 x 1.1 inches
  • Shipping Weight: 1.2 pounds
  • Average Customer Review: 4.7 out of 5 stars  See all reviews (31 customer reviews)
  • Amazon Best Sellers Rank: #1,868,757 in Books (See Top 100 in Books)

Editorial Reviews

From the Inside Flap

Not so long ago, the most difficult part of retiring was deciding what you were going to do with all your free time. Today, retirement has become more complex than anyone could have ever imagined. Fluctuations in financial markets coupled with the fact that we'll all be living longer, more active retirement lifestyles have many of us asking, "How am I going to pay for my retirement?"

For four decades, author Paul Merriman has helped and watched people manage their money—both before and during retirement. Over the years, working as a hands-on money manager has given him an enormous amount of practical experience with real people in real situations. Now, in Live It Up without Outliving Your Money!, Merriman distills what he has learned into these pages to help you create a portfolio that will fulfill your unique retirement needs.

Based on Merriman's popular retirement workshops, Live It Up without Outliving Your Money! shows you how to create and maintain the perfect retirement portfolio. From determining what assets have the highest probability of giving you the returns you need, to controlling taxes and expenses, the simple strategies outlined within these pages will help you regain confidence in your retirement portfolio.

Filled with real-world stories and practical insights, as well as helpful charts, graphs, and tables, this accessible guide will:

  • Motivate you to get into action and improve your financial situation
  • Allow you to tailor a financial plan for retirement that takes into account the right amount of risk for you
  • Provide useful tools to keep your emotions from derailing your investments
  • Examine multiple strategies for withdrawing money once you've retired
  • Help you find and hire a financial advisor whose interests are the same as yours

In the coming years, more than seventy million people will enter retirement. Some of them will have to worry about how long their money will last, while others will enjoy the retirement they've planned and prepared for. If you want to make sure your golden years aren't your lean years, follow the proven guidance of Live It Up without Outliving Your Money!

Stay current!

At the companion Web site for this book, www.wiley.com/go/paulmerriman, you will find:

  • Updated charts and tables
  • More articles by Paul Merriman
  • A link to submit a question to Paul
  • Paul's answers to questions from readers
  • A link to sign up for a free six-month subscription to Paul's monthly newsletter

From the Back Cover

Live It Up without Outliving Your Money!

"Paul Merriman's new book is a rich and meaty guide to achieving real retirement security. It's full of wise, easy-to-follow advice that will stand the test of time."
—Knight Kiplinger, Editor in Chief, Kiplinger's Personal Finance Magazine and The Kiplinger Letter

"Read, Live It Up! Not only does Paul Merriman know the secret to making your money work as hard as you do, he loves helping people achieve their goals and dreams."
–Paul B. Farrell, author of The Millionaire Code, The Winning Portfolio and The Lazy Person's Guide to Investing

An educational and motivational guide to retiring without running out of money

No one understands this better than Paul Merriman. For four decades, Merriman has helped and watched people manage their money—both before and during retirement. Now, in Live It Up without Outliving Your Money!, Merriman distills what he has learned into a sound, time-tested approach to creating a portfolio that will fulfill your unique retirement needs.

Based on Merriman's popular retirement workshops, Live It Up without Outliving Your Money! offers ten straightforward steps to creating and maintaining the perfect retirement portfolio. From determining how much you will need to live on after retirement to recognizing and controlling the expenses of investing, the easy-to-understand strategies outlined within these pages can help you regain confidence in your retirement plan.

Stay current! visit www.wiley.com/go/paulmerriman


More About the Author

Paul Merriman is a nationally-recognized authority on personal finance through sound investments that build and maintain a healthy portfolio for retirement, including mutual funds, index investing, and asset allocation. He is author of "Live It Up without Living Your Money!", "Financial Fitness Forever", written for his Public Broadcasting System special, "Financial Fitness After 50", and the new "How To Invest" series. He is the founder and former president of Merriman Inc., an investment advisory firm managing over $1.5 billion for more than 2,000 households throughout the United States. Now retired, Paul continues his commitment to educating and empowering investors, with podcasts and other free information at his website (paulmerriman.com) and donates all profits from the sales of his books. He divides his time between homes in Bainbridge Island, WA and San Miguel de Allende, Mexico.

Customer Reviews

4.7 out of 5 stars
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This book is clearly written, in plain English, easy to follow & understand.
MoOnAmaz
He also includes the Dimensional Fund Advisor family, which offers funds through advisors only, as well as his own Merriman model portfolio with a mix of funds.
L. Masonson
I highly recommend this book for anyone who is interested in investing and saving for retirement.
Brian

Most Helpful Customer Reviews

113 of 114 people found the following review helpful By L. Masonson on April 30, 2005
Format: Hardcover
Paul Merriman through his information-packed retirement workshops, fundadvice.com website, and Sound Investing Radio Show has helped thousands of investors get on the right track to realizing their investment and retirement objectives. Merriman has leveraged his 40 years of investment knowledge and educational efforts into a readable, easy-to-understand guide to risk-controlled retirement investing. Most investors have no clue as to what to do to become successful in the long run.

This book will help them get there. As Merriman has said, "Investing is a journey and you need a roadmap." That is exactly what he provides. As Merriman points out investors need to become defensive investors and have a plan of action, otherwise they probably will not reach their goals. He urges investors to put their investments on automatic pilot. As a long-time investor, author and financial advisor, I couldn't agree more.

Merriman first lays out the 14 basic elements of why investors fail to achieve their investment goals. He then covers the important topic of the psychology of investing, where most investors' problems begin. He then reviews the importance of risk management, and provides eleven questions that every investor needs to answer to assess his/her risk tolerance. He discusses the difference between intelligent risk and emotional risk.

The heart of the book, chapters 6 through 9, reviews the components of the "perfect portfolio." He builds each portfolio from the simple to the more diverse, resulting in a portfolio that has a higher return with less risk because of the diversification of assets classes and the use of international and domestic funds, value and growth funds, and small- and mid-cap funds.
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32 of 33 people found the following review helpful By Mr. Scott C. Harrison on April 28, 2005
Format: Hardcover
Investing is like driving down a highway with the windshield blacked out and only the rear view mirror to guide you.

Paul Merriman's Live It Up Without Outliving Your Money! is a comprehensive road map to a financially secure retirement. He shows how to determine how much money you'll need to retire when you want, in the way that you want; how to establish how much your investment portfolio needs to be worth when you retire, and he shows you the kinds of investments that will give you the returns you need to reach your goals. Then he explains how to choose the right distribution plan to provide both the income you need in retirement and the peace of mind that you won't run out of money.

You'll learn how to construct and maintain a "perfect" portfolio tailored to your personal tolerance for risk, and how to organize your finances so you don't have to spend a lot of time on them.

Based on Nobel Prize-winning research, Merriman's investment strategies combine passively managed no-load asset class mutual funds to create low-cost, tax efficient portfolios with worldwide diversification. "What investors need most is a strategy with enough power in good times to generate positive returns, coupled with enough protection in bad times to keep them from bailing out in discouragement," says Merriman. He discusses the psychology of successful investing and managing your emotions so you don't sabotage your own plans.

Using many charts and graphs, he makes complex subjects easy to understand, and his passion and enthusiasm are motivating and inspiring.

There's also a dedicated Live It Up! web site that includes fund recommendation updates and links to additional source material.

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Live It Up! is really a book everyone should read. Highly recommended.
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31 of 32 people found the following review helpful By Dale C. Maley VINE VOICE on March 20, 2007
Format: Hardcover
I found Merriman's writing style easy to read. He does an excellent job of covering the basics of investing including asset allocation.

Merriman's suggestion of holding 50% foreign stocks and 50% U.S. stocks was a little surprising to me. I was not expecting such a high allocation to foreign stocks. Vanguard, for example, suggests no more than 20% foreign stocks. Merriman makes a compelling case for holding 50% foreign stocks, but past performance of foreign stocks relative to U.S. stocks does not necessarily mean future performance will be the same.

Another surprise was no mention of REITs. For a book published in 2005, I expected to see at least a 10% allocation to U.S. REITs.

The last surprise was his recommendation of DFA funds compared to Vanguard funds. He tries to make the case the 1% of assets fee per year to a DFA advisor is more than offset by the superior performance of a DFA fund portofolio compared to a Vanguard portfolio. Most of the extra return is not due to lower DFA expense ratios, but the fact that DFA offers more asset class choices than Vanguard. I'm a big Vanguard fan, plus manage my own portfolio.....so I'm not sold on the DFA approach.

Over-all an excellent book.

I would suggest companion books to supplement this book including:
The Richest Man in Babylon
Bogle on Mutual Funds: New Perspectives for the Intelligent Investor
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