The Art of Retirement

by Gary Williams, Ronnie Lott (Foreword by)

Overview

What is your definition of a fulfilling life and how does an enjoyable retirement fit into that vision? Life is short; we have a limited time to choose our path, reach or dreams and goals and make our lives gratifying and our legacy everlasting.I wrote The Art of Retirement to serve as a guide; a book to help you with your life’s journey by educating and inspiring you to make the most of your time on this planet or as Ronnie Lott would say, “Exhaust life.” Retirement planning is much more than making sure you have enough money. Of course this is important and thoroughly discussed; certainly the security and lifestyle that money provides is a key part of your life. However, the financial aspect of planning your retirement is just part of the picture.Life is like art in many respects. It is unique to each one of us. It has the opportunity to be great as well as the potential for less-then-desired results. Like a sculpture, it can be molded and changed. Or like a painter standing in front of a blank canvas, the future is limited only by creativity and resources—whether that is money or the number of colors available for your palette.In keeping with the art metaphor, I have woven the story of Michelangelo’s life and art into The Art of Retirement to help you create your own life’s masterpiece. As you read this book and begin the process of creating your masterpiece, you will:• Gain perspective on what you value. I will share the story of my dear friend and former NFL player, O.J. Brigance, and his battle with ALS to help you gain perspective and appreciate even with adversity (i.e. poor health, poor investment performance, unable to save enough, etc.) you can still strive to achieve the most rewarding life given your circumstances.• Understand how your emotions (and decisions) can be impacted by our 24/7 access to financial news through broadcast media, print media, and the Internet. Being armed with knowledge of behavioral finance will allow you to avoid costly mistakes due to how our brain deals with money and financial issues.• Be inspired by real-life stories of people: o Who turned hobbies into second careers o Who used the skill set they learned in the business world to improve a non-profit organization o Who used their unique skills from their occupation (i.e., eye doctor) to help those less fortunate around the world• Learn the difference between planning retirement haphazardly without a plan, using rules-of-thumb, or using financial planning software to analyze retirement needs to compare to your resources.• How to accurately determine your risk tolerance and capacity, the most important and first step to building an investment portfolio.• Gain perspective of how investments behave while understanding current and potential future economic trends that may affect the traditional approaches of investment management.• Learn when active vs. passive management may be the best investment solution and how to implement alternative investments, such as hedge funds and private equity, to potentially minimize risk through diversification while increasing investment performance.• Introspectively look at your life to determine if you have the time, training and temperament to manage your own investments and plan for your retirement.• Appreciate the differences among the multitude of advisors and how to select a competent one that can become your trusted partner.Through the lens of both my personal life and experiences—raised by my father and growing up in a blue collar, welfare-dependent home—and through my occupation as a CERTIFIED FINANCIAL PLANNER™ practitioner, I will share my experience and knowledge to help you enjoy a beautiful life and create a legacy that stands the test of time—a Masterpiece!

Product Details

ISBN-13:	9780986044304
Publisher:	Emerson Publishing
Publication date:	09/16/2013
Pages:	232
Product dimensions:	5.50(w) x 8.40(h) x 0.70(d)

About the Author

Gary Williams is the President of Williams Asset Management in Columbia, MD. As of 2013 and with over 19 years' experience, Mr. Williams has earned numerous credentials and designations, including:CERTIFIED FINANCIAL PLANNER™ practitioner (1997)Chartered Retirement Planning Counselor (SM) (2004)Accredited Investment Fiduciary® (2009)Mr. Williams graduated from Towson University with a BS in business management and a concentration in finance. He participates in industry-related membership organizations, including the Financial Planning Association and Baltimore Estate Planning Council.As an active member of the community, Gary serves as a board member of the Dancel Family Y in Howard County and the Governance and Nominating Committee of the Central Maryland Y’s Board of Directors. Gary is a passionate supporter and is committed to ALS-related fundraising activities for research and equipment; to that end, he currently serves as an active board member of the Brigance Brigade Foundation.Williams Asset Management is highly respected in the financial community. Williams Asset Management has received numerous awards, including:• Williams Asset Management was named "Top Wealth Manager" in 2011 by AdvisorOne.• Gary Williams has been named a 2011 FIVE STAR Wealth Manager in Baltimore Magazine.• "Top Dog" in Wealth Manager4 in 2008 and 2009.• "Top Money Manager" in the Baltimore Business Journal in both 2007 and 2008.• Gary Williams has been named "Top Advisor" in the CEO Choice Awards in Baltimore SmartCEO magazine.• Gary Williams has been named a 2012 FIVE STAR Wealth Manager in Baltimore Magazine.• Gary Williams has been named a Wealth Manager—Readers Choice recipient in the June 2012 Smart CEO Magazine.• Gary Williams was recognized as a NABCAP Premier Advisor, an exclusive group of financial advisors who represent the best in quality wealth management in Maryland.• Williams Asset Management has been named a “Top Wealth Manager” in 2012 by AdvisorOne.• Gary Williams has been named a 2013 FIVE STAR Wealth Manager in Baltimore Magazine.

Table of Contents

Foreword Ronnie Lott vii

Preface ix

Introduction xi

Part 1 Creating Your Masterpiece 1

1 Perspective Matters 3

2 Choose Your Colors Carefully-Then Achieve the Right Mixture 16

3 The Blank Canvas 33

4 David Is More Than 500 Years Old 45

5 Putting the Puzzle Together 58

Part 2 The Art of Investing 81

6 Beauty [Risk] Is in the Eye of the Beholder 83

7 Preparing the "Mixture" 111

8 Create the Masterpiece-A Resilient Investment Portfolio 137

9 The Artist Within? 166

10 Like Art, Advisors Are Unique Too 173

Afterword 190

Disclosures and Definitions 192

Appendices 219

Appendix 3-A The Ideal Week in Retirement 221

Appendix 3-B Retirement Vision Questionnaire 222

Appendix 5-A Budget 224

Appendix 6-A Risk Tolerance 228

Appendix 6-B Standard Normal Distribution 234

Resources 236

With Gratitude 238

Acknowledgments 242

About the Author 244

Editorial Reviews

This well-written, comprehensive guide by a financial planner paints retirement in a new light.

The key difference between Gary Williams’ engaging book about retirement and so many others written on the subject is the author’s perspective: He believes that to enjoy retirement, everyone must create a life that is a “masterpiece.” Williams points to Michelangelo as a prime example of an artist who, “created masterpieces, but also understood that his own life was a masterpiece and, at the same time, a work in progress.”Williams uses the art metaphor effectively throughout The Art of Retirement, which is divided into two distinct sections: “Creating Your Masterpiece” and “The Art of Investing.” In the first part, Williams writes eloquently about making choices in life and maintaining perspective. He doles out insightful advice about finding a purpose in retirement, acknowledging that as much as fifty percent of prospective retirees plan to continue working in retirement. “The key,” Williams advises, “is to retire to something, not from something.”

One of the more interesting topics in the first part of the book is something the author calls “legacy planning.” With a great deal of sensitivity, he discusses leaving a legacy in the broadest sense, not just financially, but spiritually. The notion of passing along one’s sense of values to future generations is rarely addressed in a book whose primary focus is investing. For this, the author deserves credit. Williams, a certified financial planner, closes the first part of the book with an excellent chapter offering several helpful “rules of thumb” that helps guide the reader in financially planning for retirement, along with an objective discussion of why and how to choose a financial planner.
The second part of the book is not unlike other financially focused retirement books. Williams provides a detailed discussion of financial concepts, such as risk and diversification, and he offers his own analysis of how to invest in turbulent economic times. While this section contains information commonly found elsewhere, Williams’ presentation of the material is what sets his book apart. The author’s ability to express complex ideas in simple terms is impressive. He writes well and makes even dry facts seem interesting. He wisely continues to employ the art metaphor as a way of anchoring the content to a central concept.
The text is augmented with charts and graphs, each carefully explained. Subheads, bullets, and highlighted text are used judiciously to facilitate reading. Throughout each chapter, Williams calls out “key points” with boxed-in text, aiding in scanning and comprehension. At the end of the book, the author includes a helpful dictionary of definitions, as well as several useful tools, such as a “retirement vision questionnaire” and a budget template to document income and expenses.
Williams has done a masterful job of presenting an elegantly constructed, comprehensive, unbiased view of what readers need to think about, personally and financially, as they head toward retirement. The fact that the author intends to donate 100 percent of the profits from the book to charitable causes further reinforces his character and credibility. This is a book that should prove valuable to anyone approaching retirement.

--ForeWord Review

KIRKUS REVIEW

Financial planner Williams offers solid retirement planning advice using examples from the life of Michelangelo.

There’s actually an “art” to planning for retirement, Williams writes, and throughout his book, he cites one of the world’s most celebrated artists as an example of someone who financed a great lifestyle well into his retirement years. For example, he notes that Michelangelo was past 70 when he got the job as the architect of St. Peter’s Basilica. Like Michelangelo, he writes, investors have to be discriminating in their choices of which experts to follow, and the author is not a fan of one-size-fits-all financial advisers on television, calling CBNC’s Jim Cramer and Suze Orman financial “entertainers.” Although this premise may initially sound gimmicky, Williams has a larger concept in mind, devoting half his book to personal values and half to investing. In the first section, he cites 2005 research showing that baby boomers are much more interested in learning about their parents’ ethics and faith than about their parents’ financial assets, so Williams offers the idea of an “ethical will,” a non–legally binding document which can help people pass along their moral values to their children. The book’s second half offers more traditional retirement planning advice, such as how to determine risk tolerance and build the right investment portfolio. Williams notes that too many retirees are afflicted with information overload; when there are too many financial choices—or too many choices that are too similar—it can lead to investment paralysis. For readers who want a professional adviser’s help, Williams suggests avoiding those who claim to have cornered the market on results: “Does the advisor brag about market-beating results year after year? If so, get up and walk out.” Overall, the author writes in clear, simple language, only rarely veering into jargon. Despite a few typos and occasional unnecessary preludes, his advice is easily digestible without being dumbed down. Appendices include questionnaires that will likely aid those ready to start planning.

An engaging guide aimed at retirees but packed with practical advice that even 20- and 30-somethings might use.

From the Publisher

This well-written, comprehensive guide by a financial planner paints retirement in a new light.

The key difference between Gary Williams’ engaging book about retirement and so many others written on the subject is the author’s perspective: He believes that to enjoy retirement, everyone must create a life that is a “masterpiece.” Williams points to Michelangelo as a prime example of an artist who, “created masterpieces, but also understood that his own life was a masterpiece and, at the same time, a work in progress.”Williams uses the art metaphor effectively throughout The Art of Retirement, which is divided into two distinct sections: “Creating Your Masterpiece” and “The Art of Investing.” In the first part, Williams writes eloquently about making choices in life and maintaining perspective. He doles out insightful advice about finding a purpose in retirement, acknowledging that as much as fifty percent of prospective retirees plan to continue working in retirement. “The key,” Williams advises, “is to retire to something, not from something.”

One of the more interesting topics in the first part of the book is something the author calls “legacy planning.” With a great deal of sensitivity, he discusses leaving a legacy in the broadest sense, not just financially, but spiritually. The notion of passing along one’s sense of values to future generations is rarely addressed in a book whose primary focus is investing. For this, the author deserves credit. Williams, a certified financial planner, closes the first part of the book with an excellent chapter offering several helpful “rules of thumb” that helps guide the reader in financially planning for retirement, along with an objective discussion of why and how to choose a financial planner.
The second part of the book is not unlike other financially focused retirement books. Williams provides a detailed discussion of financial concepts, such as risk and diversification, and he offers his own analysis of how to invest in turbulent economic times. While this section contains information commonly found elsewhere, Williams’ presentation of the material is what sets his book apart. The author’s ability to express complex ideas in simple terms is impressive. He writes well and makes even dry facts seem interesting. He wisely continues to employ the art metaphor as a way of anchoring the content to a central concept.
The text is augmented with charts and graphs, each carefully explained. Subheads, bullets, and highlighted text are used judiciously to facilitate reading. Throughout each chapter, Williams calls out “key points” with boxed-in text, aiding in scanning and comprehension. At the end of the book, the author includes a helpful dictionary of definitions, as well as several useful tools, such as a “retirement vision questionnaire” and a budget template to document income and expenses.
Williams has done a masterful job of presenting an elegantly constructed, comprehensive, unbiased view of what readers need to think about, personally and financially, as they head toward retirement. The fact that the author intends to donate 100 percent of the profits from the book to charitable causes further reinforces his character and credibility. This is a book that should prove valuable to anyone approaching retirement.

ForeWord Review

Financial planner Williams offers solid retirement planning advice using examples from the life of Michelangelo.

There's actually an "art" to planning for retirement, Williams writes, and throughout his book, he cites one of the world's most celebrated artists as an example of someone who financed a great lifestyle well into his retirement years. For example, he notes that Michelangelo was past 70 when he got the job as the architect of St. Peter's Basilica. Like Michelangelo, he writes, investors have to be discriminating in their choices of which experts to follow, and the author is not a fan of one-size-fits-all financial advisers on television, calling CBNC's Jim Cramer and Suze Orman financial "entertainers." Although this premise may initially sound gimmicky, Williams has a larger concept in mind, devoting half his book to personal values and half to investing. In the first section, he cites 2005 research showing that baby boomers are much more interested in learning about their parents' ethics and faith than about their parents' financial assets, so Williams offers the idea of an "ethical will," a non-legally binding document which can help people pass along their moral values to their children. The book's second half offers more traditional retirement planning advice, such as how to determine risk tolerance and build the right investment portfolio. Williams notes that too many retirees are afflicted with information overload; when there are too many financial choices—or too many choices that are too similar—it can lead to investment paralysis. For readers who want a professional adviser's help, Williams suggests avoiding those who claim to have cornered the market on results: "Does the advisor brag about market-beating results year after year? If so, get up and walk out." Overall, the author writes in clear, simple language, only rarely veering into jargon. Despite a few typos and occasional unnecessary preludes, his advice is easily digestible without being dumbed down. Appendices include questionnaires that will likely aid those ready to start planning.

An engaging guide aimed at retirees but packed with practical advice that even 20- and 30-somethings might use.

Kirkus Reviews