Customer Reviews

Ready...Set...Retire!: Financial Strategies for the Rest of Your Life

5 star:		(11)
4 star:		(1)
3 star:		(2)
2 star:		(2)
1 star:		(1)

 

 

I saw Mr. Lucia do a presentation in 2003 and retired with his office. He placed my money in a buckets strategy. Bucket one was a single premium immediate annuity, bucket two was a seven year indexed annuity from ING, and bucket three was a managed account from SEI. Bucket two was supposed to grow and replenish bucket one but the growth was not as expected. No problem he said, we will add a nonliquid REIT to your third bucket and start taking some of income from the reit. Then he ended the relationship with the rep in my town and the RJL office was closed. Doing more research I have found that he has consistently increased the length of his bucket strategy. This to me means it is not working as expected. Obviously his business strategy has not worked if he has closed offices around the nation. My advice, find a financial advisor that does not spend a ton of money marketing and uses a time tested strategy, not some fadish marketing scheme.

Lucia's 'buckets of money' strategy is a good starting point for investors or for those over 45 who are contemplating their retirement and don't want to do a lot of thinking.

Some of the advice he dispenses in the book and his nationally syndicated radio program are, in my opinion, some tired bromides regarding diversification. If you followed his advice a couple of years ago your portfolio would be down about 40% right now (early 2009) and could continue to decline during the coming year or two.

Some of the 'studies' he likes to quote to prove his points are just plain bogus because they rely upon the idea that the future will be just like the past.

I have been a Registered Investment Advisor and securities licensed. I have never read a financial book that is so clear and comprehensive on asset allocation. This book is a must for those that have a nest egg and wonder what they are going to do with their money when they retire. It
explains how to get a stream of income and growth at the same time.

Disappointing. In short, this book is for people that simply do not want to be bothered with managing their own investments. It is really just a 200+ page sales pitch for Financial Advisers and, of course, annuities. It is not for the "Do it yourself" investor.

My advice: Save your money. Buy any book written by Jack Bogle, William Bernstein, Peter Bernstein, Rick Ferri, Taylor Larimore, or Larry Swedroe and you'll be far better off.

Having read Ray's first book, "Buckets of Money, How to Retire in Comfort and Safety," I of course purchased this book. I loved the first book, but this one is even better. The "interview" format is ideal (book one was a bit more "textbook" like), and while strategies are of course repeated that were explained in book one, they were done in a way that only added to understanding.
For years I have have listened to Ray Lucia's call in show on the radio, downloaded the podcasts,and attended a couple of his seminars. Ray, along with his "Brain Trust" of a tax attorney (Rob Butterfied) and a certified financial planner ("Professor" Plum) are simply the best. Their show (and in this case book) is fact filled and highly!! entertaining, making the show and book a must. (My wife hates finance, but loves to listen to Ray) (they could go on the road as stand up financial advisor comics)...not an easy combo to pull off.
Anyone interested in a get rich quick, can't fail, instant money making strategy should avoid this book and the "Buckets of Money" Strategy altogether. Like to worry and look at the stock charts each day to see how your investments are doing? Don't buy this book.
Ray's philosophy is simple. Diversify and let the stock market do what it has always done...go up and down. If you diversify and hold stocks for abut 15 years, historically you should do quite well. This is basically bucket #3. Buckets number 1 and 2 are where you have money that is diversified in safer investment vehicles, that can be used to let bucket #3 grow.
Ray's new book delves into the "Buckets" strategy in great detail, and is a compliment to his first book. For those who are fans of Ray and the "Brain Trust," this book is a must have. For those who have yet to experience this down to earth investment philosopy, and who want to be able to know that they will do fine in retirement, buy this book. It is definitely not only for those about to retire. The earlier you become a "Bucketeer," the better.

The book is a bit dated. I think it was written in 2005, when the real estate market was a better investment. The other ideas are insightful and the book was enjoyable and helpful.

This is the follow up to buckets of money. I learned a lot and enjoyed the approach. Some sections will be difficult for new investors to understand.....but stick with it, very good info and it is now one of my new reference books to review and share with others. Thanks Ray

This book is a follow up to the original. Some new ideas to implement the strategy are already out of date. Mostly, because the tax laws change every year. But as a life time investment approach it will always beat your commonly espoused asset allocation strategy. Therefore, buy this or its original.

Great logic to avoid running out of money. He has a great radio show too - that is how I found out about his book. Financil planning has been my passion for the last 40 years - and his plan will work.

It was 5 star item for me as I have saved and have < 10 years to retirement. It is easy to read and understand. It is a practical and conservative plan for a secure finacial retirement. You will want other books to cover other aspects of retirement but for a investment plan it is the best I have read.