Retire on Less Than You Think: The New York Times Guide to Planning Your Financial Future [Paperback]

Fred Brock (Author)

Book Description

Publication Date: February 4, 2004

From the New York Times retirement expert, an authoritative resource for successfully assessing and tackling the real costs and challenges of retirement

Only a few years ago, the question on many Americans’ minds wasn’t “how will I retire” but “when.” Now, with 401(k)s and IRAs at a fraction of their previous value and health-care costs soaring, it’s time for a definitive guide book that walks you through the fundamentals of retirement.

With his biweekly “Seniority” column in The New York Times, Fred Brock has earned a reputation for providing frank and pragmatic advice on the changing landscape of retirement. In chapters written exclusively and originally for this book, he offers updated thinking on all the essentials for a smart and secure retirement, including how to
• determine new personal finance and investing goals
• find untapped asset streams, such as reverse mortgages
• deal with the tangle of taxes on pensions, family gifts, and other income
• work during retirement
• choose a community and housing
• maximize your health insurance
• assess long-term assisted-living arrangements

He offers indispensable tools for analyzing your true costs of retirement, independent of the mutual-fund industry hype and Social Security scares. And a substantial list of national, regional, and online resources as well as worksheets allow you to customize and realize your retirement plan.

Editorial Reviews

From Booklist

The aging of the baby boomers heralds in its own way a rush to proffer advice and counsel on all topics, from reinventing lives to investing wisely for the short and longer terms. This experienced financial professional jumps at the opportunity of focusing on the latter. By no means a self-acclaimed money wizard, New York Times "Seniority" columnist Brock has, quite literally, learned on the job--and applies his knowledge frankly and pragmatically. What's more, his main message may shock many who have long believed that 70 to 80 percent of final salary is a mandatory number to accumulate for retirement. His recommendation? Based on current and projected savings, it may be just as easy to cut back and simplify lifestyles, whether that means moving to a less expensive area or streamlining postretirement activities or both. Plenty of research and resources support his contention, including Web sites like BestPlaces.net and actual great-to-hear reader stories. There's 81-year-old Elton Pasea of Nederland, Texas, who enjoys his passion of bicycling and an active lifestyle on less than $2,000 a month. Energizing--and extraordinarily enlightening. Barbara Jacobs
Copyright © American Library Association. All rights reserved

About the Author

Fred Brock is a business editor and writes the “Seniority” column for The
New York Times. He has also covered business and finance issues for The Wall Street Journal, the Houston Chronicle, and the Louisville Courier-Journal. He lives in New Jersey.

See all Editorial Reviews

Product Details

• Paperback: 208 pages
• Publisher: Times Books; 1st edition (February 4, 2004)
• Language: English
• ISBN-10: 0805073744
• ISBN-13: 978-0805073744
• Product Dimensions: 9 x 6.1 x 0.6 inches
• Shipping Weight: 8 ounces
• Average Customer Review: 3.4 out of 5 stars  See all reviews (36 customer reviews)
• Amazon Best Sellers Rank: #1,117,826 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

106 of 108 people found the following review helpful:

4.0 out of 5 stars Thought Provoking, October 11, 2004

By 

Steven Lee "sfosteve" (San Francisco, CA United States) - See all my reviews

This review is from: Retire on Less Than You Think: The New York Times Guide to Planning Your Financial Future (Paperback)

The basic premise of the book is that you don't need a retirement nest egg large enough to provide you with 70-80% of your present income to retire comfortably. This is contrary to the common advice found in the marketplace and the author attacks this as hype. I found his commentary insightful and thought provoking as I had bought into the believe that you needed at least 70% of your present income otherwise you would be stuck eating Alpo. I agree with the author's basic point that if you live in an expensive metropolitan area (e.g. Manhattan, Chicago, SF) and are willing to relocate to a less expensive area you can retire comfortably on a modest income. I agree with some commentators' criticism that the author spends time making his own political commentary on Social Security and healthcare, but this does not detract from the rest of the book. I wish the book had gone into more detail on some of the subjects covered, but a reader can continue researching various topics by looking at the websites recommended in the book. Unless you are "set for life," I would recommend that you take a look at this book. After reading it, I am rethinking my retirement plans and am not nearly as nervous of making my retirement work as I was before.

78 of 84 people found the following review helpful:

5.0 out of 5 stars Retire on Less Than You Think by Fred Brock, January 30, 2004

By 

Joseph S. Maresca "Dr. Joseph S. Maresca CPA,... (Bronxville, New York USA) - See all my reviews
(HALL OF FAME REVIEWER)    (TOP 1000 REVIEWER)    (REAL NAME)   

This review is from: Retire on Less Than You Think: The New York Times Guide to Planning Your Financial Future (Paperback)

This work focuses your attention on the amount of money needed
during retirement-taking into consideration the
best places to retire and control of unnecessary expenditures.
Bellington, Washington, Iowa City and Sarasota, Florida are
cited as preferred retirement communities. Strategies to retire
slightly later can yield significant benefits in the size of
the monthly income resulting from social security. In some cases,
a delay of even 3-4 years in retirement can result in getting
a 50% increase in the monthly allotment. The author recommends
to simplify life in order to maximize the benefit from your
monthly income. This book is an excellent supplemental reference
for your retirement planning. As such, it is well worth the price.

31 of 32 people found the following review helpful:

5.0 out of 5 stars New perspective on retirement!, June 7, 2004

By A Customer

This review is from: Retire on Less Than You Think: The New York Times Guide to Planning Your Financial Future (Paperback)

This book is truly a new perspective than the one you hear from the financial community. Fred Brock debunks the myths that it takes millions of dollars to retire. Every financial website has a calculator to tell you how much you have to save and invest to have millions to retire. This just isn't practical for most people. He shows that if you own a home with a 30-yr. mortgage, by the time you retire it should be paid off. So, there is no longer a mortgage payment which is usually your greatest expense. Also, if you move to a city that is one of the best places to retire (he gives the web address to find these cities), the money you have will go much further while maintaining the same or better standard of living. Also, healthcare is a concern for retirees. He directs you to ehealthinsurance.com to compare rates. I did this and changed my insurance plan and am saving $50/month. This book is an eye-opener for anyone planning to retire but after reading the book you should feel relieved that you can really can retire on less than you think.