Plan Your Prosperity: The Only Retirement Guide You'll Ever Need, Starting Now--Whether You're 22, 52 or 82

( 2 )

Overview

Think you're too young to start thinking about retirement? Orthat "retirement" investing is different from "normal" investing? Think again.

Whether you're in retirement, just getting ready to retire nowor in 5, 10 or 40 years, Plan Your Prosperity arms you withinformation, expert guidance and tools to help you invest smarteryour whole life and, yes, plan better for retirement. Bestsellingfinance author Ken Fisher explains why, for all practical purposesand for most investors, ...

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Plan Your Prosperity: The Only Retirement Guide You'll Ever Need, Starting Now--Whether You're 22, 52 or 82

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Overview

Think you're too young to start thinking about retirement? Orthat "retirement" investing is different from "normal" investing? Think again.

Whether you're in retirement, just getting ready to retire nowor in 5, 10 or 40 years, Plan Your Prosperity arms you withinformation, expert guidance and tools to help you invest smarteryour whole life and, yes, plan better for retirement. Bestsellingfinance author Ken Fisher explains why, for all practical purposesand for most investors, all investing should be done with aneye toward retirement—and beyond.

Harmful mythology abounds about retirement investing. Like theadage you should take 100 (or 120) and subtract your age to getyour equity allocation and put the rest in bonds or cash. Or youshould buy only bonds. Or buy only high-dividend stocks. Or somecombination! Or buy equity-indexed annuities or some "guaranteed"income product. All are examples of potentially harmful myths manyfolks believe to be smart, strategic moves—myths Ken makesshort work of in Plan Your Prosperity.

In their place, Ken provides straightforward principles to helpyou increase the odds you achieve your long-term investing goals,like:

  • How to think correctly about investingtime horizon
  • The difference between income and cash flow
  • How to better figure how much cash flow you need and if yourportfolio can provide it
  • How to figure how much to save each year to achieve retirementgoals
  • What pitfalls to avoid
  • And more . . .

Not another one-size-fits-all retirement planner, Plan YourProsperity supplies you with a firm foundation in soundinvestment and retirement planning principles. And it gives you aframework for better understanding your financial needs, settingyour financial goals and creating a workable plan for your lifelongprosperity.

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Product Details

  • ISBN-13: 9781118431061
  • Publisher: Wiley
  • Publication date: 11/6/2012
  • Edition number: 1
  • Pages: 192
  • Sales rank: 630,305
  • Product dimensions: 6.20 (w) x 9.10 (h) x 0.80 (d)

Meet the Author

KEN FISHER is best known for his prestigious "PortfolioStrategy" column in Forbes magazine, where his over 28-yeartenure of high-profile calls makes him the fourth longest-runningcolumnist in Forbes's 90-plus-year history. He is thefounder, Chairman and CEO of Fisher Investments, an independentglobal money management firm managing tens of billions forindividuals and institutions globally. Fisher is ranked #263 on the2011 Forbes 400 list of richest Americans and #764 on the 2012Forbes Global Billionaire list. In 2010, Investment Advisormagazine named him among the 30 most influential individuals of thelast three decades. Fisher has authored numerous professional andscholarly articles, including the award-winning "Cognitive Biasesin Market Forecasting." He has also published eight previous books,including national bestsellers The Only Three Questions ThatCount, The Ten Roads to Riches, How to Smell a Rat, Debunkeryand Markets Never Forget (But People Do), all published byWiley. Fisher has been published, interviewed and/or written aboutin many major American, British and German finance or businessperiodicals. He has a weekly column in Focus Money,Germany's leading weekly finance and business magazine.

LARA HOFFMANS is Vice President of Content at FisherInvestments, managing editor of MarketMinder.com, a regularcontributor to Forbes.com and coauthor of the bestsellers, TheOnly Three Questions That Count, The Ten Roads to Riches, How toSmell a Rat, Debunkery and Markets Never Forget (But PeopleDo).

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Table of Contents

Acknowledgments ix

Chapter 1: What? Me? Retire? 1

The Imagined Dichotomy 3

Two Goals … and Some Non-Goals 4

Definitions and a Pencil 9

Start Immediately. Now. Right Away 13

Plan Your Prosperity 14

Chapter 2: My Goals Are … What? 17

Why Is This So Hard? 20

Your Investing Goals, Simply 24

Potential Pitfall: Capital Preservation and Growth 26

Inflation’s Insidious Impact 29

Three Percent, Compounded 35

Chapter 3: The Secret Code—Asset Allocation orBenchmark? 37

Benchmark—A Road Map and Measuring Stick 40

Picking a Benchmark 42

The Big Decision—Asset Allocation 45

Potential Pitfall: Age Doesn’t Equal Asset Allocation49

Benchmark Versus Asset Allocation—What’s theDifference? 50

Chapter 4: Time Horizon—Longer Than You Think59

Potential Pitfall: Ignoring Opportunity Cost 62

Time Horizon—What Is It? 64

Time Horizon and Benchmark 68

Chapter 5: What’s in a Return? 73

Growth Defi ned 77

The Past as a Guide? 81

Gordon Moore and Endless Innovation 90

Potential Pitfall: Unrealistic Expectations 92

Chapter 6: Getting That Cash Flow 97

Potential Pitfall—The All High-Dividend Portfolio 100

How Much Do You Need? 103

Monte Carlo—Not Just a Casino 107

Let’s Get Bootstrapping 109

Chapter 7: Can I Get There? 117

How Much Do You Have? 120

A Savings Plan 123

Chapter 8: Putting It All Together 131

To Benchmark or Not to Benchmark 134

State Your Goals 136

Know Where You Are 137

Picking an Appropriate Benchmark 138

Finding Professional Help 140

Avoid Being a Fraud Victim 143

And You’re Off! 143

Appendix A: All Hail the Mighty Dow 145

Appendix B: Cash Flow Versus Expenses 155

Appendix C: Expense Categories 161

Appendix D: Personal Balance Sheet 165

Notes 169

About the Authors 173

Index 175

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Customer Reviews

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Sort by: Showing all of 2 Customer Reviews
  • Posted February 22, 2015

    A Must Read for Everyone

    I have read quite a few books on retirement planning and this one is not as entertaining as the others but it contains important information in a straight forward manner for anyone who needs help planning their future. I
    really liked this book and because it is so concise I look forward to reading it again in the future.
    -

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  • Anonymous

    Posted August 2, 2013

    Wonderful book... I would not have bought it as I am older and c

    Wonderful book... I would not have bought it as I am older and comfortable with my investment plan and performance, but Mr. Fisher's company sent me a copy... I read it on a plane trip so could discuss it with my older nieces and thought it was a fantastic starting point... So now buying a copy for my nook to have available whenever any of the youngsters in my family want to discuss... Highly recommended for all ages, but especially for an older generation person trying to persuade a younger generation member to start planning for life... Thanks Mr. Fisher...

    Was this review helpful? Yes  No   Report this review
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