Job Optional is a thoughtful and down to earth guide to retirement
planning that offers unbiased, commonsense advice based upon the
author's experience as a retirement planning professional. It offers
both a primer to the financial world as well as a step-by-step guide to
planning your own retirement. It is written in terms that a newcomer to
investing can understand while providing all the pertinent information
necessary to make informed financial decisions. It acts as a primer that
takes a complicated topic and makes it accessible, while not diluting
the information. Interestingly, for a book about money, the first
recommended step in financial planning has nothing to do with the stock
market or annuities, but the need for an individual to have a life
purpose. One's goal should be to identify this purpose and to create a
plan set out to organize your assets in such a way to most efficiently
accomplish that end. Once this has been decided, the next step is into
the world of finance. This begins with an analysis of today's investment
risks. Once the risks are understood, specific strategies to overcome
them are determined. A plan is created that ends with a final, written
product. To do this, requires a solid understanding of the financial
world and reading Job Optional makes this possible. Five chapters deal
specifically with financial concepts, strategies, and terms, ordered as
an organized outline to the logical steps in retirement planning. These
are: purpose-based asset allocation, liquidity planning, income
planning, growth planning, and estate planning. The book is a wealth of
information as it describes the many elements and strategies of
financial planning. Look here to learn about such things as the
4-percent withdrawal rule; strategies for interest-only, real-income,
and guaranteed lifetime income; advice on watching your expenses;
information on maximizing your legacy that includes basic IRA
strategies; a list of basic documents such as powers of attorney and
living wills; what to consider when choosing -- or breaking up with -- a
financial advisor. The information is in-depth, detailed, and complete.
In places, and this is a strong point as this makes abstract financial
concepts real and understandable and adds interest and color. The book
takes a friendly, conversational, tone as the investment information is
intertwined with stories taken from the author's life, his parents'
lives, and his clients. Retirement brings with it its own set of life
changes, challenges, and situations. The sharing of these stories makes
financial planning real. It also underscores the book's message that
success isn't money, but purposeful living, and that good financial
planning will allow you to achieve this goal and be a success on your
own terms.
