Book Reviews

Book Review: If I retire, How will I know when it’s the weekend?

Most Canadians and equally as many Americans, Australian, and New Zealanders neglect to think about retirement and savings for the day that will come before they know it.

Some look forward to retirement others dread the thought.

Many think doing nothing and loafing around with friends can be enjoyable, but the reality happens to be completely different. After a few days or weeks, retirees become bored and may even become frustrated, even frustrating family members.

K.L. Wronski, a wealth management specialist, has written and published a straightforward guide for comfortable and active retirement.

In this elucidating book full charts and graphs (some from England), she explains in a very detailed fashion how you should prepare your retirement financially, risks about investments, discussing the advantages and disadvantages of both, estate planning, and ways you can remain active, or productive, of contribute to society by volunteering.

She lays out the three biggest retirement risks – longevity risk (you lasting longer than your funds), inflation risk which is a very big concern today and possibly will be for the next two to three decades as governments keep flooding markets with new money constantly fuelling inflation, and low risk-free rate of return (which is very much the case these days). Inflation represents a powerful financial threat to retired people, as pensions are relatively fixed.

This is a book for young, middle aged, and old people. The young will benefit by learning how to proceed, the middle aged, who neglected planning, by helping them to start now, and the old, how to maximize their wealth.

Highly recommended.

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