Many people are intimidated by retirement planning. Like all major life transitions, there is always an element of uncertainty, even when you make plans.
You can, however, gain valuable insight from reading books about retirement. After all, as the saying goes, “failing to plan is planning to fail.” With that said, here are 15 books that cover different aspects of retirement, from financial planning to finding happiness.
Financial Planning and Investment
1. The Simple Path to Wealth by JL Collins
After starting as a series of letters to his daughter, the book became a bestseller. As promised by its title, Collins’ approach is as simple as it gets. Using the following three steps, he claims, you can build wealth almost effortlessly:
- Your spending should be lower than your income.
- Debt should be avoided at all costs.
- If you have any remaining funds, invest them in index funds.
Essentially, The Simple Path to Wealth guides beginners in investing and personal finance. It offers a clear path to financial independence and a secure retirement and provides a simple roadmap for success.
Sample quote: “There are many things money can buy, but the most valuable of all is freedom. Freedom to do what you want and to work for whom you respect.”
2. How Much Money Do I Need To Retire? Uncommon Financial Planning Wisdom for a Stress-Free Retirement by Todd R. Tresidder
Forget the mantra “work more, save more, retire later.” As a former insider, Tresidder exposes the limitations of traditional financial systems. He understands that life isn’t static—both your desires and the world itself will likely have changed significantly by retirement.
This book offers an unconventional roadmap to achieving your ideal retirement lifestyle. First, define it, then determine the magic number.
With Tresidder, you won’t just get to that pot of gold you’ve been chasing. Using his methods, you can optimize your life for early retirement. Don’t just think about late nights at the office, but also side hustles and strategic relocations.
Those looking to design a retirement that excites them, not one that binds them to a waiting list, will find this book invaluable.
Sample quote: “Complicated math is usually more symptomatic of covering up ignorance than expressing wisdom.”
3. Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success by Wade Pfau
A professor of Retirement Income at The American College of Financial Services in King of Prussia, PA, Wade D. Pfau, Ph.D., CFA, RICP(R), is the program director of the Retirement Income Certified Professional(R) designation. Let’s just say that you should definitely take his advice into account.
In Pfau’s guidebook, significant decisions associated with retirement are addressed in chapters, including:
- An individual’s retirement income style.
- Benefits and options available through Medicare and Social Security.
- Managing taxes.
- Risks associated with long-term care.
More specially, in Wade’s book, he outlines how to set your “funded ratio” to determine when your retirement income and expenses are equal enough to think about retiring.
Sample quote: “Without the relative stability provided by employment earnings, retirees must find a way to convert their financial resources into spending power that will last the remainder of their lives.”
4. The Ultimate Retirement Guide for 50+: Winning Strategies to Make Your Money Last a Lifetime by Suze Orman
According to Suze Orman, the country’s most widely recognized personal finance expert, planning for retirement is no longer easy. Traditionally, pensions provided a steady income once workers retired. In today’s society, though, most pensions are provided by the public sector.
However, there are still two main choices when it comes to retirement savings for non-government employees:
- 401(k). A pre-tax retirement plan sponsored by your employer lets you save and invest money from your paycheck before taxes. The money you contribute will grow tax-deferred, but you must pay taxes when you withdraw it in retirement.
- Roth IRA. When you contribute to a Roth IRA after-tax dollars, you are tax-free when you withdraw funds in retirement.
Savings plans are just the first step, but choosing the right one is equally important. In retirement, it is crucial to determine a sustainable withdrawal rate. If you take out too much too soon, you may fall short later in life.
Further, as interest rates remain low, investors are having difficulty generating enough income from investments to retire alone. In addition, the economy may experience a downturn, and the stock market may be volatile.
Even though challenges remain, there is still hope. By planning for retirement, you can deal with these uncertainties. With the help of this book, you’ll gain the knowledge and tools to deal with this important issue.
Sample quote: “Making smart choices in your 50s and 60s will give you the gift of not having to worry about finances in your 70s, 80s, and 90s.”
Health and Wellness
5. Younger Next Year: Live Strong, Fit, and Sexy – Until You’re 80 and Beyond by Chris Crowley and Henry S. Lodge
This book focuses specifically on seven rules for building a fitter, younger, and healthier mind and body. It can delay the onset of 70 percent of normal aging symptoms until later in life.
Here are some reasons why you should read this book:
- In addition to credible scientific research, it provides expert advice on improving our physical and mental health, which will lead to a more vibrant and youthful life.
- It offers readers practical suggestions and actionable strategies for reversing aging through positive lifestyle changes.
- Furthermore, thanks to its engaging tone and relatable stories, the book keeps readers hooked and motivated to adopt healthier, more energetic lifestyles.
Sample quote: “Your body reads idleness as a sign that you are starving to death as slowly as possible, no matter how much you eat. Exercise”
6. The Blue Zones: Lessons for Living Longer From the People Who’ve Lived the Longest by Dan Buettner
How do some people live such long, healthy lives? Dan Buettner, a National Geographic explorer, investigates this very question in his book, The Blue Zones: Secrets of Longevity from the People Who’ve Lived the Longest.
In his research, Buettner examines three “Blue Zones” in which residents live exceptionally long lives. From Sardinia, Italy, to Okinawa, Japan, these places boast a remarkable concentration of centenarians (people over 100 years old) who live vibrant, active lives. Throughout this book, Buettner will share the key insights and principles he gathered from these remarkable communities.
Sample quote: “Begin by answering this question in a single, memorable sentence: Why do you get up in the morning?”
Finding Purpose and Fulfillment
7. Encore: Finding Work That Matters in the Second Half of Life by Marc Freedman
In this book, you will read about encore career pioneers who don’t plan to play golf for the next thirty years. Marc Freedman, CEO and president of Encore.org, offers an alternative to traditional retirement by introducing the concept of an “encore career.” Instead of engaging in leisure activities only to keep busy during the retirement years, Freedman argues that meaningful activities can be carried out during the second half of our lives.
Basically, this book’s all about finding meaningful work and volunteering after retirement.
Sample quote: “This book tells the story of an incipient movement of individuals who embody a powerful alternative, who are living out of a distinct and compelling vision of work in the second half of life, one built around the dream of an “encore career” at the intersection of continued income, new meaning, and significant contribution the greater good.”
8. The Second Mountain: The Quest for a Moral Life by David Brooks
According to New York Times columnist David Brooks, a fulfilling life begins with four key commitments.
According to Brooks, the first mountain of adulthood is between the ages of 20 and 40, when we build careers and establish ourselves professionally and personally. But, after reaching our initial peak, what should we do next?
Brooks calls this subsequent stage the “Second Mountain.” Here, the emphasis is on serving our families, friends, and communities. During this time, commitments are made on professional, personal, religious, and intellectual levels.
From the perspective of an experienced guide, Brooks shares wisdom gleaned from his journey up the Second Mountain.
Sample quote: “In his essay Schopenhauer as Educator, Nietzsche wrote that the way to discover what you were put on earth for is to go back into your past, list the times you felt most fulfilled, and then see if you can draw a line through them.”
9. How to Retire Happy, Wild, and Free: Retirement Wisdom That You Won’t Get from Your Financial Advisor by Ernie J. Zelinski
There is more to retirement than financial readiness. It’s also about finding happiness and purpose after work.
This inspirational book by Ernie Zelinski, an author and prosperity life coach, helps you visualize your ideal retirement with exercises like the “get-a-life tree.” The author also offers tips on handling unexpected challenges and strategies to help you prepare for retirement.
Sample quote: “The longer you work, the more money you’ll have for retirement. But the longer you work, the less time you’ll have to enjoy that retirement.”
10. 101 Fun Things to Do in Retirement: An Irreverent, Outrageous & Funny Guide to Life After Work by Stella Rheingold
You can’t wait for the day when you’ve given up your alarm clock, your boss, and your soul-crushing commute for the open road or the chance to sleep in. There will likely be decades of free time when we retire, and with it comes a vast ocean of free time.
Do you feel overwhelmed by all of the possibilities? In this case, Stella Rheingold’s 101 Fun Things to Do in Retirement is your humorous and irreverent guide.
As a starting point, this book is filled with budget-friendly ideas. The possibilities are endless, from finding your inner artist with a pack of charcoal and free online classes to learning mechanics or joining a wacky club.
As well as painting, Rheingold encourages you to explore graffiti masterpieces on the street and, well, do whatever makes your heart sing.
Basically, this book is your permission slip for living a little. We can all find inspiration in it, even if we aren’t quite retirement age.
Sample quote: “Creativity, curiosity, kindness, and a sense of adventure will make you happier and bring you more genuine friends than any amount of money in the bank.”
11. Thrive in Retirement: Simple Secrets for Being Happy for the Rest of Your Life by Eric Thurman
Eric Thurman’s Thrive in Retirement: Simple Secrets for Being Happy for the Rest of Your Life offers advice on making the most of retirement. The book contains the following key points:
- Make happiness a priority. The book emphasizes planning for happiness rather than only financial security in retirement.
- Happiness is all about three things. To achieve happiness, the author suggests three key ingredients. These are explored in the book.
- Research-based advice. In this book, you will find a combination of research findings and practical tips for a fulfilling retirement.
- Develop a plan for the future. Readers are encouraged to shape their ideal retirement experience by being proactive.
Sample quote: “Without realizing it, many people expect to live ‘happily ever after’ in retirement but haven’t thought much about how that will occur.”
Personal Stories and Inspiration
12. The Joy of Not Working: A Book for the Retired, Unemployed, and Overworked by Ernie J. Zelinski
According to Zelinski, we can find joy and meaning in life if we take the time to pause and appreciate the now. By being more present in the moment, he encourages us to be more mindful of our surroundings. Our ability to become more alive is enhanced if we are able to be alone with our thoughts and feelings.
Sample quote: “We can change the quality of our lives by changing the context in which we view our circumstances.”
13. The Retirement Maze: What You Should Know Before and After You Retire by Robert Pascale
1982, Dr. Pascale founded Marketing Analysts, Inc., a thriving market research firm. As a result of his success, he could retire at 51. However, something wasn’t right. Rather than being blissful, retirement left him feeling empty.
With a Ph.D. in hand, Pascale worked on solving the puzzle. An extensive interview revealed a common struggle for retirees: adapting to a new life stage. In addition to financial advice, this advice is tailored to help pre-retirees explore when to withdraw and how to live a fulfilling life in their golden years.
Sample quote: “Most people will have to retire at some point, whether they want to or not; they’ll start to sense that day approaching as they get to their early or mid-fifties, and as they get older, it becomes more and more inevitable. Nevertheless, although retirement looms for everyone, surprisingly few are truly prepared for it.”
Practical Guides
14. Retirement The Psychology Of Reinvention: A Practical Guide to Planning and Enjoying the Retirement You’ve Earned by Kenneth S. Shultz
With today’s world constantly changing, retirement can have its own challenges. Using psychological research, infographics, and illustrations, “Retirement: The Psychology of Reinvention” addresses these challenges. Using modern retirement scenarios and stressors as a starting point, it provides readers with an individual retirement roadmap.
Sample quote: “We all face retirement in our own way. Some see it as a gift, while others consider it a challenge. The key is to approach retirement with optimism, treating it as an opportunity for new kinds of fulfillment.”
15. Retire Inspired: It’s Not an Age, It’s a Financial Number by Chris Hogan
Are you on track for retirement? If not, you might be interested in Chris Hogan’s Retire Inspired.
As a financial expert, author, and podcast host, Hogan’s book offers actionable advice. Whether you’re feeling overwhelmed about retirement planning or not, Hogan’s step-by-step approach will guide you through what you must do each decade.
In particular, “Retire Inspired” will help you:
- Assess your current financial situation and develop a plan to improve it.
- Improve your investment decisions.
- Prepare yourself for retirement by setting realistic expectations.
- Understand how to interact with financial professionals.
Sample quote: “People will work so hard to put themselves in a fantastic financial position. They will do whatever it takes to get ahead of the game. But then, just when it looks like they’re winning, their brains take a coffee break, and their impulses take over. That’s when people fall into ‘stupid’ temporarily—just long enough to finance a boat, an unreasonable new home, a convertible, some fancy jewelry, or even a vacation around the world.”
Conclusion
These books cover a wide range of topics related to a fulfilling retirement. They offer excellent financial advice, health tips, and inspiration for living a meaningful life after retirement.
FAQs
What are some of the different categories of books on retirement?
Book categories on retirement vary widely, but some of the most popular are:
- Financial planning. The purpose of these books is to help you save for retirement, invest for your golden years, and make your retirement savings last.
- Lifestyle planning. When you are retired, these books can help you envision what you want to do. They can cover many topics, including travel, hobbies, volunteering, and finding a purpose in retirement.
- Psychology of retirement. With the help of these books, you can cope with the psychological challenges of retirement, such as the loss of employment and facing mortality.
What are some factors to consider when choosing a book on retirement?
- How old are you? If you are in the early stages of considering retirement, you may want a book that covers a variety of topics. Those of you nearing retirement may want a book addressing specific challenges, such as downsizing your home or planning for healthcare.
- The state of your finances. Reading a financial planning book may be helpful for those worried they will not have enough money for retirement. If you are confident about your financial situation, you might enjoy a book that explains how to plan your lifestyle.
- What interests you? With a wide variety of retirement books, the retirement book market caters to a wide range of interests. For example, there are books about retirement travel if you love to travel. You can also find books that focus on finding volunteer opportunities in retirement if you’re interested in volunteering.
When should I start saving for retirement?
The sooner you begin saving for retirement, the better. With compound interest, your retirement savings can grow significantly over time. Regardless of how much money you can save each month, start now and increase savings as your income increases.
What are some other things I can do to prepare for retirement?
In addition to saving money, there are other things you can do to prepare for retirement. A few examples are:
- Payoff debt. In retirement, debt can be a significant drain on your savings. You should pay your debt off as soon as possible to reduce it.
- Create a budget. Budgets help you keep track of income and expenses and ensure you’re saving enough for retirement.
- Invest in a retirement plan. If your employer offers 401(k) or 403(b) plans, contribute as much as possible.
- Invest your retirement savings. To grow your retirement savings, you will need to invest the money you have saved. It is important to do your research and choose the right investment since there are many options available.
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