How to Retire Young and Rich

Joseph S. Coyle offers basic advice for people pondering retirement. The book outlines straightforward strategies for saving and investing, and urges investors to start early and to put as much as they can into 401(k) plans and IRAs. So much for the obvious. Coyle also offers specific and useful guidelines for buying mutual funds and allocating assets. He realistically presents issues you may face in retirement, such as the emotional difficulties involved in leaving a career and having enough money to support your lifestyle (so buy a bond instead of that snazzy watch). Some of the book's basic advice will seem redundant to sophisticated investors, but the more detailed information will intrigue even them. We at getAbstract recommend this book for anyone looking for guidance about saving and investing for retirement. [getAbstract note: The investment advice here - tax laws, stock markets, and what not - is extremely U.S.-oriented, although the lifestyle information is broadly applicable.]

Don't be fooled by the title, the author spends a lot of the book explaining the realities of retirement. That is, we're living longer in retirement and not saving enough to meet the challenge that presents. Early retirement will take a determined effort and persistent savings to achieve. Just think about it, if you retire at 55 and expect to live to 90 you are talking about 35 years of living off your investments! The book is well written and even gives some good ideas of what towns you might want to consider for retirement living. Retirement, let alone early retirement presents a challenge for everyone, this book is a good place to begin thinking about the subject.