Book review: Your Safe Retirement Roadmap: A Powerful Guide to Planning and Living A Deeply-Fulfilled and Prosperous Retirement.

Amazon & Goodreads

Review

 “To be able to enjoy a successful retirement, you must have a well-thought-out game plan. But, do you really understand how your cash flow needs and investment strategy are related and intertwined?”

The author, Frank Gutta asks valuable questions throughout the book, and then answers it. Being on the steps of retirement myself, I found the information highly valuable. Living with two retirees, I see first-hand the money troubles they have. The shortages and expenses, especially medical bills, are an eye opener. This petrifies me as I know that my old age is not far away, and I am not halfway ready to even think of retiring. I will confess there are times my mind refuses to be still and sleep a vivid memory. 

“Retirement isn’t something to fear or dread—it’s the start of a whole new chapter of your life with levels of freedom that you’ve probably never experienced before. Hopefully, this book has provided you with insights on effective retirement planning that you can use to enjoy a more financially secure retirement. My goal is to help my clients safely maximize their income in retirement and keep their taxes as low as possible. To live a happy, successful, and fulfilled retirement, you must prepare in many ways: physically, mentally, emotionally and financially.”

This quick read is very informative, and though I live in South Africa, he has given me a few pointers to look at. I found the helpful advice soothing, knowing with God’s help I will enter my old age with the knowledge I have done all to cope and that with God’s help I will not have to dread the golden years. 

Each chapter is a valued edition as he describes what the roadblocks are, how to plan your retirement and what to look for to grow your investment portfolio to minimize any lack. The Four-Bucket system is definitely an eye-opener and one I endeavour to follow.

Excerpt

WHAT IS THE SOLUTION? Financial planning for a prosperous retirement is a very complex undertaking. Most people will not have the time, training, or expertise to do this on their own. Don’t be afraid to ask for help. We hire others for a wide variety of tasks, ranging from changing the oil in our cars to mowing the lawn to cutting our hair. Almost none of us would ever think of performing our dental work or representing ourselves in court. We hire professionals to do those tasks because they have the training and expertise to perform those services with a high skill level. Due to the importance of financial planning in helping us to live and enjoy a long and prosperous retirement, most people should hire a financial professional to help them do this properly. The great news is that it is now possible to hire some financial professionals at little to no cost. For example, in some cases, the financial professional is paid by the company employing them rather than being paid directly by you. REACHING OUR RETIREMENT INCOME AND LIFESTYLE GOALS To reach your lifestyle goals in retirement, you MUST make sure that you reach your retirement income goals. If you are like most people and lack a sizeable pension or 401(k), how will you reach your retirement income goals? The difference between “almost” reaching your retirement income goals and actually reaching them could mean the difference between living in a small rented apartment during retirement vs. living in your dream house in your dream location. It could mean the difference between being on a low-quality health insurance plan or having access to the best medical doctors and best hospitals in America. As you can see, the pay-off from high-quality retirement income planning is tremendous.

Reaching your retirement income goals has three key components: You must have the right tools, the right education to know how to use those tools and you MUST avoid large losses from the stock market or real estate along the way to retirement. Retirement today comes with tremendous opportunities, as well as staggering challenges. These opportunities and challenges stem from the fact that we are living longer and stronger than any generation before us. This should be something we celebrate. A longer and stronger retirement means that we can dream bigger dreams, travel to farther places, spend more time with our loved ones and live the lifestyle we truly want to live. The challenge that comes with living a long and strong life is: how do we make sure our money lasts as long as we do?

It constantly amazes me that people will spend more time planning a one- or two-week vacation than they will to plan for their retirement, which could last thirty years or more. Today, a sixty-year-old couple has a 40% chance that one of them will live to be ninety-five. So, if you started working at age twenty-five, retired at age sixty, and lived to the age of ninety-five, you could spend as much time in retirement as you did working.