Do you want to make the most of the money you have saved for your retirement or do you want to maximize your benefits? There are many insightful books to shed light or offer alternative perspectives on all aspects of this next chapter in life.
Retirement tip of the week: In anticipation of the new year and all the financial resolutions that come with it, pick up a book that discusses the best ways to save, invest and build a solid retirement.
There are library shelves filled with books on personal finance, and some are specifically focused on retirement. There are also other aspects to consider when planning or living in retirement, such as health care, where in the world you live and find purpose.
While there are plenty of wonderful options out there, here are a few books to consider if you’re looking for a little more advice—or a new angle—for your retirement.
Read: Want to age in place? You may have a robot keeping you company.
Saving and investing for retirement
“Collection: Win the wealth game by walking away” by Julien and Kiersten Saunders
The Saunders paid off $200,000 in debt over five years and have since quit their jobs at the company and become personal finance icons. In their first book, they help Americans prioritize their goals at different career stages, explain why you might not feel ready for financial freedom (and why it’s okay), and share practical strategies. to achieve your goals.
“Broken Millennium” by Erin Lowry
This book is not entirely about saving for retirement, but it encourages young workers to put money aside for the future and offers suggestions on how to do so through contributions and investment choice. Lowry also highlights why it’s so important for younger generations to start investing early for their retirement, especially because of the power of compound interest.
Retirement money management
“Retirement Planning Guide: Navigating Important Decisions for Retirement Success” by Wade Pfau
Retirement income planning, which focuses on how best to use your assets and benefits in retirement, is just as important as decades of saving for the future. Pfau, who has several books on retirement planning, has created this comprehensive guide to key retirement decisions, both financial and non-financial.
Read: You don’t need retirement savings, you need retirement income
“How to make your money last: The Essential Guide to Retirement by Jane Bryant Quinn
Lack of money is a major concern for many Americans, and Quinn addresses this nightmare scenario in this book. The author helps readers understand the best ways to create a steady paycheck from their savings and various decisions for making savings, investments, home equity and beyond.
“The new retirement: Plan your life and live your dreams…at any age you want” by Mitch Anthony
In its fifth edition, this book examines how to find purpose in retirement and work with what you have in this chapter to enjoy your life. The author also includes worksheets for getting organized with money.
Want more practical tips for your retirement savings journey? Read MarketWatch “Retirement Hacks” column
Early retirement and financial independence
“The Simple Path to Wealth: Your Roadmap to Financial Independence and a Rich, Free Life by JL Collins
This book delves deeper into financial independence, exploring debt, investing in the stock market, traditional versus non-traditional financial advice, understanding all account options for retirement savings and why you need ” F-you Money”. The post seems to resonate with readers – it has 4.5 out of 5 stars with over 8,600 reviews on Amazon.
“Optional work: Early Retirement No Penny Pinching Way” by Tanja Hester
Hester has become an expert and spokesperson in the field of financial independence, and she has done so by first accomplishing the feat herself. In this book, the author explains how to create an early retirement plan, budget for future expenses you may not expect, weather the turmoil of the economy, and do it all without wiping out your expenses.
“Quit like a millionaire: No Gimmicks, Luck, or Trust Funds Required” by Kristy Shen and Bryce Leung
Shen retired at 31 with a million dollars and in this book she shares how she did it using her investment intelligence. The book, which has been rated 4.5 out of 5 stars on Amazon with nearly 1,800 reviews, is what the authors call a “no bulls guide to growing your wealth, retiring early, and living your way.”
retirement lifestyle
“The keys to a successful retirement: Stay happy, active and productive in retirement” by Fritz Gilbert
Retirement isn’t just about money, it’s also about living a life you love. Gilbert is an expert on the subject, and in his book he shares various ways to plan and develop your retirement lifestyle, and how to transition into it. This book is best for people who are five years before or from their retirement date, it says in its description.
“How to retire abroad: Everything you need to know to live well (for less) abroad by Kathleen Peddicord
Many Americans dream of leaving the country to retire on a Caribbean beach or in a quaint European town, but there are plenty of crucial factors to consider before doing so – like how to store your cash safely. wisely, the medical coverage you will need and live within your budget. Peddicord and her husband have lived abroad for decades, and in her book she shares tips for finding housing and medical care as well as understanding taxes and banking before you pack your bags.
Social Security
“Get what’s yours: Secrets to maximizing your social security” by Laurence Kotlikoff, Philip Moeller and Paul Solman
Applying for Social Security can seem overwhelming when you’re faced with all the options – are you applying as soon as you can at age 62 or are you trying to wait until age 70? How will your health, life expectancy and investment portfolio affect this decision? What is the place of your spouse and his advantages? In this book, the authors explain various strategies for getting through this potentially stressful situation.
“Social security: simple and smartby Tom Margenau
The author breaks down Social Security myths and misconceptions and offers 10 benefit fact sheets, including ones on disability benefits, pension offsets, child benefits and what widows and widowers should know.
Health and health insurance
“Get what’s yours: Maximize your coverage, minimize your costs” by Philip Moeller
Just like with his book on Social Security, the author breaks down the often complicated world of health insurance and explains what to consider when choosing your health insurance plan. It also talks about some of the more detailed nuances of the system, such as the appeals process for denied claims and what to do if you’re eligible for Medicare but still working.
“10 Costly Health Insurance Mistakes You Can’t Afford To Do by Danielle Roberts
Medicare decisions can be complicated — beneficiaries must sift through many plans to make sure their preferred doctors and necessary prescriptions are covered. The wrong decision, or unknowingly missing a deadline, can be very costly in the long run. In this book, the author shares the pitfalls and penalties to avoid and the resources to make the best decision for your health.
Do you have questions about retirement, social security, where to live or how to afford it? Write to HelpMeRetire@marketwatch.com and we may use your question in a future story.
.