As baby boomers realize that love may not be all you need, at least to retire, a savvy financial guru comes to their aid.
Quinn is one of the country’s leading commentators on finance, a looked-to and highly regarded columnist who addresses such important money concerns as health insurance, social security, and retirement plans. She is also the author of the classic personal financial planning guide, Making the Most of Your Money Now, an all-encompassing bible that was revised in 2009 to reflect updated financial situations. Baby boomers are retiring in force, and her latest book targets the concerns of both recent and future retirees with volley after helpful volley of information (in a consummately well-ordered presentation) necessary for a retirement that affords psychological as well as financial comfort.
“After decades of working we’re finally free—
but free to do what?”
The psychological component of facing retirement is not to be downplayed, and Quinn should be applauded for her recognition of the necessity of developing the most suitable mind-set for the soon-to-be and recent retiree who faces the inevitable question, “After decades of working we’re finally free—but free to do what?” As frank and bold as it sounds, she insists these folks must face this truth: “We have to reinvent our lives.” The meat of her book, then, is guiding readers into making two plans, an “action” plan to move from a working life to a nonworking one and a financial plan for maximum utilization of the income and savings you will have at your disposal in your retirement. Importantly, she creates a list of—with ample descriptions for each—the five stages of retirement: preretirement, the honeymoon, disenchantment, reorientation, and stability.
Big-ticket chapters follow and include comprehensive coverage of getting the most out of Social Security, how to live within your retirement means, the danger of post-retirement income investments, and money that can be garnered from life insurance even while you’re still alive. Her clarity of prose is matched with a generosity of spirit, and all of the information is graciously laced with a noncondescending tone that renders this book as absolutely helpful as the author intended.
This review first appeared in the November 15, 2015 issue of Booklist.