When I travel, I often find it convenient to call for an Uber. When it arrives, I generally strike up a friendly chat with the driver.
Yet I’m still surprised by how frequently the driver tells me he or she is “retired.”
(That seems odd. It’s like saying, “I’m working even though I no longer work.”)
Some, of course, say they’re just bored and looking for something to do. But many straightforwardly confess that they simply don’t have enough money to maintain their lifestyle in retirement.
And that’s a shame. No one dreams of spending their golden years ferrying strangers around town.
It’s not necessary either.
Out this week is the best book on retirement and income investing I’ve ever read.
It’s called You Don’t Have to Drive an Uber in Retirement: How to Maintain Your Lifestyle without Getting a Job or Cutting Corners by my longtime friend and colleague Marc Lichtenfeld, The Oxford Club’s Chief Income Strategist.
The book’s subtitle is a tall order.
The 2017 Retirement Confidence Survey revealed that millions of Americans are woefully unprepared for retirement. Almost a quarter (24%) have put aside less than $1,000 for retirement. And nearly half have accumulated less than $25,000.
You might be counting on a pension to see you through. If so, you’re one of the lucky few. (Corporate pensions have largely gone the way of the dodo.)
But even if you have one, you’re not necessarily home free. Citigroup estimates there is an $18 trillion shortfall in American pensions.
Regardless of how much you’ve saved for retirement, there’s no need to despair.
Marc’s new book offers the crucial intelligence you need to survive and prosper after leaving the work force. In it, he reveals…
How to calculate how much you really need for retirement
How to benefit from a new type of 401(k), even if you’re not currently employed
How to maximize your social security payments
How to safely boost your post-retirement income
How to save tens of thousands of dollars on Medicare
How to sharply cut your travel costs
How to safely and legally reduce your investment taxes
How to generate double-digit income with hard-money loans to homeowners and builders
How to buy real estate ridiculously cheap when someone doesn’t pay their property taxes.
He also tells you how to avoid “the worst investment you can make,” even though the folks selling them make them sound like the best thing since night baseball. (He and I are in 100% agreement on detestable, fee-laden annuities, especially for retirees.)
Marc’s essential wisdom is worth its weight in gold.
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Better still, he provides bullet points at the end of each chapter with “Actions to Take” to help you implement his ideas right away. (That means there is essentially an executive summary inside the book itself.)
I often talk to people who aren’t sure how to plan and invest in retirement.
No wonder they’re confused. There is so much information, so many alternatives and so many people trying to sell them something.
Marc, on the other hand, is …read more
Source:: Investment You
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