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How Much Money Do I Need to Retire? (60 Minute Financial Solutions Book 5) [Kindle Edition]

Todd R. Tresidder
4.5 out of 5 stars  See all reviews (133 customer reviews)

Print List Price: $14.99
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Book Description

It seems so simple, doesn’t it?

Plug a few numbers into a retirement calculator and presto! You have an accurate answer for how much money you need to retire.

Unfortunately, it doesn’t work that way. The conventional approach used by experts to determine how much money you need to retire is fundamentally flawed. The worst part is you won’t even know it until it’s too late.

This book takes you behind the scientific facade of modern retirement planning to reveal:

• Why most estimates for how much you need to retire are a case of garbage-in garbage-out causing you to either overspend and run out of money or underspend so that you never get to enjoy your savings.
• The 5 critical assumptions that can destroy your financial security. Which one are you making?
• 3 models for estimating how much money you need to retire (your financial planner only knows 1 and it’s not the best).
• How to reduce the amount you need to retire by $300,000–$600,000 or more.
• How to plan for inflation, changes in Social Security, and much more so you don’t run out of money before you run out of life.
• 7 creative ways to spend less while also improving lifestyle.
• 3 strategies to maximize spending today while protecting for the future in case you live longer than expected.
• How Monte Carlo calculators cause a dangerous deception that can leave you broke.
• Explains step-by-step how to accurately calculate the amount of money you need to retire—the very first time you try, simply, and without being a math genius.
• No computer, software, or online calculators necessary—it’s that simple.

In one evening you can know more about how much money you need to retire than your financial adviser. This book is a practical, no-nonsense guide complete with a step-by-step plan that tells you how much money you need to retire with confidence.

No retirement is secure without it.


Editorial Reviews

About the Author

Todd R. Tresidder's financial writing has been featured in the Wall Street Journal, Smart Money Magazine, Investor's Business Daily, Yahoo Finance, Bankrate.com, and more. He is a former hedge fund manager who "retired" at age 35 to become a financial consumer advocate and money coach. In his spare time he's an outdoor recreational enthusiast with varied interests from backpacking and adventure travel to endurance running and cycling. He writes 9 months out of the year from his home in Reno, Nevada while his kids are in school and plays the rest of the year. You can learn more about Todd at FinancialMentor.com.

Product Details

  • File Size: 579 KB
  • Print Length: 134 pages
  • Publisher: FinancialMentor.com (November 19, 2013)
  • Sold by: Amazon Digital Services, Inc.
  • Language: English
  • ASIN: B0093CPJ9S
  • Text-to-Speech: Enabled
  • X-Ray:
  • Lending: Enabled
  • Amazon Best Sellers Rank: #24,285 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Most Helpful Customer Reviews
28 of 29 people found the following review helpful
5.0 out of 5 stars Useful explanation about retirement income November 9, 2012
Format:Paperback
In what looks to be the 5th book in his series, Todd Tresidder has provided a fine explanation about how to prepare one's finances for retirement.

I've recently written about how there are two schools of thought about retirement income. One is a probability-based approach which looks at what would have worked historically. This has been developed by the financial planning profession. This is where the 4% rule comes from. Todd calls it "conventional retirement planning," and he spends the first half of the book explaining all of the problems with it. I agree wholeheartedly with his various conclusions here, such as that there is no such thing as "The Number" needed for retirement, and that too many investigators rely too heavily on the historical record for building their conclusions. Especially when market valuation levels are particularly high and/or interest rates are particular low (today's situation), historical averages are going to present an overly rosy picture about what is going to work.

He provides lots of sensible advice. He gets you to focus on the key modeling assumptions which will provide the main impact on the results. One alternative model he describes is to build a floor of guaranteed income sources to cover basic expenses, and then invest more aggressively for the things which may be "nice to have." This is the essential recommendation coming out of the other retirement income school of thought which I call "safety first." He also reminds that you should be using your entire balance sheet of assets rather than just your financial assets when thinking about retirement income. It's another key component of the "safety-first" school.

The book is short, to the point, and provides a good overview of what consumers should be thinking about so as to not blindly accept the built-in assumptions of retirement calculators they may come across on the web.
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17 of 18 people found the following review helpful
4.0 out of 5 stars Magic Retirement? September 9, 2012
Format:Kindle Edition|Verified Purchase
Having followed Mr. Tressider for a couple years now I was intrigued how he would expand his "Ultimate Retirement Calculator" into a treatise on retirement scenarios. Like others who've reviewed this e-book, I have been researching my own retirement using scenarios found on smartmoney.com to Money Magazine to AAII. Other authors such as Daniel R Solin "The Smartest Investment Book You'll Ever Read" and Bill Schultheis "The New Coffeehouse Investor" have simple portfolio building techniques but nothing quite as in depth for retirement nest egg as Mr. Tressider has done here.
I plan on rereading and recalculating [and saving] until I'm comfortable.
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11 of 12 people found the following review helpful
5.0 out of 5 stars This works! March 11, 2013
By smv
Format:Kindle Edition|Verified Purchase
I retired at 45 by doing essentially what this author describes in his cash-flow model (although I wish I'd had the benefit of having this book beforehand to lay out the method so eloquently before I did it on my own -- it would have saved some stress). This book will be a great guide to anybody who's brave enough to take the plunge & step off the 9-5 treadmill early. Good luck!
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9 of 10 people found the following review helpful
5.0 out of 5 stars Great advice, clear and straightforward February 1, 2013
Format:Kindle Edition|Verified Purchase
I was looking for a map to help me figure out my retirement plan. I'm 25 so I have a long way to go, but reading Todd's book helped me realize that early retirement is an actual possibility for me.

He gives very straightforward advice in this book - what I found particularly helpful is his explanation of what he calls the "2 critical numbers" (percentage of income saved vs. spent, and ROI minus inflation) needed for figuring out how much you need to retire. Everything else is only marginally significant when compared to the compound effect of these two ratios.

That's what I appreciated about this book: Todd keeps it simple without being simplistic. The important numbers are explained in detail and the less relevant stuff is excluded. His Ultimate Retirement Calculator is also very helpful - I ended up testing different scenarios for an hour.
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6 of 6 people found the following review helpful
By Pequod
Format:Paperback
As I enter my 50th year retirement is increasingly on my mind. While I continue to build my nest-egg, I'm beginning to think about how I need to manage that in retirement to ensure my financial security. This book seeks to answer that question by examining three approaches: Asset-based, creative lifecycle, and cash flow.

The author advocates a cash flow based approach to retirement. The gist of this approach is that we must ensure that our income cash flows exceed our expense cash flows. Ideally, this is accomplished by not spending the principal amount of our investments so that we have the best chance of our nest-egg outliving us. The author also advocates using non-traditional means to generate income during retirement (what he calls creative lifecycle). This means thinking outside the traditional investment portfolio, and being creative enough to embrace alternatives like rental real estate, lifestyle business, hobby income, etc. On these points, I couldn't agree more. Cash flow is central to my own thinking. All asset accumulation I'm engaged in now must be converted into cash flows later.

During the first half of the book the author examines traditional asset based retirement planning. The asset based approach is to accumulate sufficient traditional assets to support a structured drawdown (e.g., the 4% rule) in retirement. There are many calculators of varying sophistication that support this approach. In the first half of the book the author picks these methods apart, then suggests a better way to use these tools to produce confidence intervals, advocating the use of his own Ultimate Retirement Calculator.
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Most Recent Customer Reviews
4.0 out of 5 stars Well worth the money. A good read.
A well written book with a method that makes sense. It will likely convince you to re-evaluate any sole reliance on traditional financial planning.
Published 23 hours ago by John Reed
5.0 out of 5 stars Excellent! Todd's approach is at once simple
Excellent! Todd's approach is at once simple, logical, and easy to understand. Ultimately, he rightly points out that most current modeling strategies rely on historical market... Read more
Published 7 days ago by Frank Littell
5.0 out of 5 stars Outstanding!
I retired at 50 but it has taken me 13 years to really retire. I have used much of the logic contained in this book. I still wish I had read this book 13 years ago! Read more
Published 11 days ago by Donna L. Sako
5.0 out of 5 stars Superb, brilliant, insightful
This is an excellent book. What I love is it's simplicity in covering a rather complicated subject. It has opened my eyes to my retirement needs.
Published 14 days ago by Tunatoto
1.0 out of 5 stars This guy has only one unique thought...
His premise is that the P/E ratio of the S&P 500 - at the time you retire - is the most key factor in how your savings will perform for you in retirement. A high P? Read more
Published 1 month ago by Amazon Customer
4.0 out of 5 stars Good content
Having previously read Extreme Early Retirement and other books about rethinking retirement (or financial independence, which may be a better term) I found this book to be good for... Read more
Published 2 months ago by Tim Noteboom
5.0 out of 5 stars solid suggestions on retirement
Love that the author mentions real estate rental income as part of a stable retirement. Like the recommendations do holding dividend paying stocks. Annuities are also explained. Read more
Published 2 months ago by Reva Harris
5.0 out of 5 stars The One-Stop Play Book for this Age-Old Question
I just finished Todd Tresidder's book, "How Much Money Do I Need to Retire". This 120-page book provides the framework for anyone to answer the age-old question of... Read more
Published 3 months ago by Travis Banfield
5.0 out of 5 stars Absotively a MUST READ if your are close to execution!
This book was very informative and jolted me into seeing things for the first time from a different perspective. Read more
Published 3 months ago by Mike Hottinger
5.0 out of 5 stars Has me headed in the right direction, finally!
Much of the retirement material I've read approaches the retirement question from the perspective of how to maximize your savings from where you are NOW until retirement age. Read more
Published 3 months ago by Travis Pizel
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More About the Author

Todd R. Tresidder's financial writing has been featured in the Wall Street Journal, Smart Money Magazine, Investor's Business Daily, Yahoo Finance, Bankrate.com, and more. He is a former hedge fund manager who "retired" at age 35 to become a financial consumer advocate and money coach. In his spare time he's an outdoor recreational enthusiast with varied interests from backpacking and adventure travel to endurance running and cycling. He writes 9 months out of the year from his home in Reno, Nevada while his kids are in school and plays the rest of the year. You can learn more about Todd at http://financialmentor.com .



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