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Unveiling the Retirement Myth
Review by: Dr. David Edward Marcinko MBA CMP™
[Publisher-and-Chief]
Jim Otar is a certified financial planner in Canada. He wrote the book: Unveiling the Retirement Myth on retirement income planning: how to make your retirement portfolio last as long as you do when you are living off your savings and investments in retirement.
The Print Version
The print version costs $49.99 on Amazon. But, for a limited time only, Jim Otar is offering a PDF version of this 525-page, 45 chapter book for FREE on his website retirementoptimizer.com.
The e-Book
Here’s the download link until January 10th, 2011:
http://www.retirementoptimizer.com/downloads/URMG/URMGreem.pdf
Assessment
This is a very worthwhile e-book offered at an excellent price-point. Its’ subtitle is advanced retirement planning based on market history, and that is exactly what is presented – much historical review although not especially of an advanced nature. But, it is voluminous. Additionally, since the past is no indication of the future – and current events like the potential of a “new economics normal” are not explicitly entertained – the treatise lacks a feeling of modernity!
Fortunately, the author does include many figures, graphs, illustrations and tables for ease of understanding. The mini case-examples also help keep it from trending to the boorish. This is an important point I have painfully learned after almost four decades of writing, editing and publishing [i.e., readability and interest]. Moreover, if the reader was not familiar with time-value of money calculations and concepts before reading, s/he will surely be after.
While mostly generic in nature – containing little tax, insurance, risk management and accounting information – and not written for a physician or medical professional audience; the book represents a worthwhile review for doctor colleagues and/or those laymen unfamiliar with the ever widening topic. However, those physicians seeking healthcare specificity should look elsewhere for assistance www.CertifiedMedicalPlanner.com
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Filed under: Book Reviews, Financial Planning, Glossary Terms, Investing, Retirement and Benefits | Tagged: Financial Planning, Investing, Jim Otar, retirement planning |
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Retirement and our Aging Population
Of the 330 million people in the United States, more than 60 million (approximately 14-15%), are 65 or older. This percentage continues to grow annually. The Census Bureau predicts that in 30 years, 20% of the United States’ population could be 65 and older. Because of this influx, a plan for caring for this aging population must be developed, as well as a plan addressing the Social Security and Medicare systems, which are on the brink of disaster.
As the birthrate declines in the United States, the number of workers able to support an aging population also declines. Financial advisors and planners are in a prominent position to help America prepare its citizens for this coming financial crisis.
The most important demographic characteristic is that people are living longer. Demographers and actuaries predict life expectancy on current and past statistics, not on medical breakthroughs taking place at remarkable speeds. The 1850 life expectancy was 39 years and in 1900 had increased to 47 years.
As we the new decade, it is approaching 78 years. This age is mis-leading however, as it fails to account for medical research and advancements that have taken place during the past few years. And, although the ACA may be a boon to our health, it may not be to our wealth.
Jason
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