From Publishers Weekly
Likening the befuddlement that most investors feel in the post-stock-bubble era to the confusion that Dorothy experienced when she fell into the unfamiliar Land of Oz, Updegrave leads readers away from retirement planning myths and straight down a realistic path to financial security. A senior editor at Money magazine and a columnist for AOL Personal and CNNMoney.com, Updegrave manages to enlighten readers without pandering to their fears or overstating the complexity of accumulating wealth. And he shares the most important revelation at the start: its not how skillfully you invest, but how much and how routinely you save that ultimately matters. While this book is of obvious value to younger readers, the under-saved and over-50 receive substantial attention in sections that provide detailed strategies for catching up on savings. Throughout the book, Updegrave highlights the pitfalls and the self-delusions that undermine so many retirement plans, such as the fact that "40 percent of Americans are counting on the lottery, sweepstakes, getting married or an inheritance to fund their retirement." Social Security, the tax code and insurance coverage are demystified without ever evoking nightmares of the Wicked Witch. And though the Oz imagery might make some readers wary, the references fade as the book progresses, so they never get too tiresome or cutesy. Updegraves explanations and frequent referrals to useful online tools will help readers figure out exactly how to begin and exactly how to get to where they want to go, with far less difficulty than Dorothy herself experienced.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
The trend of applying metaphors to the business world has just about run its course. Take, for instance, financial columnist Updegrave's application of the Wizard of Oz analogy to new retirement strategies. After one or two references to Dorothy, Toto, and her companions, the literary allusions fall flat. But don't let that detract from the content, which emphasizes today's realities--that we can no longer count on social security and corporate pensions to carry us through retirement. Featured are worksheets, charts, simple explanations of complicated financial instruments (such as the different types of annuities), and great advice. Some examples: 10 tips to boost savings, from "put it on autopilot" to "keep an expense log," or the 7 strategies to follow if your savings aren't robust enough. A money counselor for the millennium. Barbara JacobsCopyright © American Library Association. All rights reserved