What Color Is Your Parachute? for Retirement: Planning Now for the Life You Want

I have read several books on retirement, and this one is by far the best. It contains all the tools you will need to build a retirement that is best for you. It has lived up to its namesake, "What color is your parachute?" and I believe will be a classic itself. It begins by explaining you must build your retirement by balancing the big three of happiness, prosperity, and health. They overlap each other and depend on the others for fullfilment. Can you be happy if you are broke or sick in retirement? It explains the three boxes of life: education, work, and then retirement which takes you through the three dynamics of development, productivity, and then leisure. However you may want to make plans to have education or productivity in your retirement also and not just leisure. It briefly covers the financial aspects of retirement in examining what you will need from social security, your IRA/401K, and possible pension income, but it is brief, and covers the bases. The book then takes you through exercises on the six fields of knowledge for well being that enables you to build a specific retirement plan that caters to you. They include the aspects of social, psychological, geographical,financial, medical, and biological. You will have to answer for yourself questions like: Will I have an adequate network of friends after I retire? What do I value most? Simplicity? Excitement? etc. Where do I want to live? Keep my house or sell it for a condo in Florida? Will I have enough income to support the lifestlye I want? Should I scale down for freedon or should I work part time in retirement? Do I favor medical doctors, alternative care of a mixture of both? Will I have adequate medical coverage? Do I need to change my lifestlye of eating or exercise to maintain my health in retirement? You will find specific answers to all these questions as you build a page of information that contains your answers to these questions. This will be the only book you need on retirement it is like a text book and when you are finished you have the answers. It doesn't matter what color your parachute is as long as it brings you safely to the ground after you jump.

As a Certified Finanicial Planner®, I counsel people in all phases of life including those who are thinking about, getting close to and experiencing the "retirement" phase of their lives. "What Color Is Your Parachute for Retirement" is a must read for anyone who is thinking about retirement or helping others prepare for this phase of their life. While I like the entire book and found virtually all of it useful, there are two parts I like best. First is the simple structure that the authors provide to think about the myriad issues in retirement. The three part structure of happiness, prosperity and health provide a way to look at retirement piece by piece so as to not overwhelm and yet touch on the important topics. My second favorite part of this wonderful book is the section on "Where in the world will you retire?" I've read numerous retirement planning books, but this is the best treatment on this key subject that I've come across. Everyone for whom retirement is relevant will find useful information, suggestions and resources in this book to help them plan and execute their own retirement journey. My hats off to the authors for a job well done. Thank you.

What a great book! It really ignites new thoughts about retirement planning. Whether already in retirement, not there yet, or just starting a first job, this book shows that retirement is an entirely separate life stage that requires some careful thought and planning. As someone who has worked in the retirement field for over 20 years, this is a message that both young and old need to hear and by taking the approach suggested in the book, it can be a great help in deciding how much needs to be saved to support a retirement lifestyle. I'm one of those people who are "kind of" retired, but still working and I'm not alone. Studies show that between 60% and 80% of retirees and pre-retirees today are planning to continue some type of "work" - whether for pay or volunteering - well into their retirement years. The reasons for working are generally because the retiree is bored, needs a social network and/or wants to add some purpose to their life. Unfortunately, most people don't have a clue about how to actually plan for what their retirement lifetime will be like or even think about what their "dream retirement" is. What this book does is offer an approach that will let you picture your future and help you plan how to get there. What I found really great about this book is that it is more than just something to read. I was able to complete the exercises/worksheets and really learn something about me and what I want to get out of my retirement years. It gave me a whole new perspective about what I can do when I "grow up" and really retire. Will this book be for everyone? Maybe not. (I really disagree with the last reviewer, though.) If you already know what your retirement life will be like, you probably aren't looking for a book about retirement. However, if you haven't thought about planning for a retirement lifestyle - not just saving and investing money - or you are just leaving your retirement happiness to chance, this is definitely a book you should read. You may not agree with everything that is in there but it will definitely make you think. And, after all, isn't that what a book like this is supposed to do?

Although I don't typically take the time to write reviews, I felt compelled to praise this work highly. I'm still 10 or so years away from retirement, but watching my parents struggle through their retirement, unprepared, stressed, bored and unhappy motivated me to pick up this book, and i'm very glad that I did. I finished my "first read" of this work on Sunday and I can't stop thinking about my future and how I might like to shape it. Bolles/Nelson has a way of personalizing the process of creating YOUR retirement, asking you critical questions that you might never have asked yourself, but the answers you definitely want to know! Quite simply, its quite compelling and motivating. Impressive book.

In terms of a comprehensive approach to retirement planning, this book is truly The Missing Link. Every other book on retirement I have read has focused on just the economics -- personal financial planning. The authors of Parachute address financial planning, but go far beyond it to emphasize the less-tangible aspects of preparing for and then living in retirement. The book helps you understand who you are now, and then helps you determine how your personal attributes can create an optimal retirement. Optimizing the "three dimensions" of retirement is your goal, and the book gives you several tools to help you through this planning process. The intangibles will directly affect your fulfillment in retirement, and indeed will affect your financial needs, as well. I now realize that financial planning for retirement is improved when one uses this comprehensive approach. I wish this book had been available 10 years ago. If you are starting planning for your retirement, read this book FIRST. It will give you a great roadmap. You can then turn to other resources as needed to fill out a particular aspect of your retirement plan. The book cites many valuable resources. I can definitely recommend this book to those interested in a holistic approach to retirement planning, one that goes beyond the typical dollars-and-cents approach.