Summary of The Savage Number

Terry Savage

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Rating

7 Overall

8 Applicability

6 Innovation

6 Style

Recommendation

Book publishers know a good thing when they see it. That explains why there is yet another book on Baby Boomer retirement planning. But, fear not, "Savage" isn’t the description of a fierce retirement savings program that will bite you in the wallet; it’s the name of the author: Terry Savage, a personal finance newspaper columnist. In this case, she seems to have linked many of her columns together to form a basic book for novice investors who are planning for retirement. While much of the content may seem very familiar to anyone who reads mainstream financial publications, having it in book form is convenient. getAbstract recommends Savage’s nuts-and-bolts information to people who are just entering the workforce, novice investors, financial planners and human resource people concerned about issues affecting retirees. It is also a handy quick reference for questions about Medicare, reverse mortgages, long-term health insurance or estate planning. If you are on the verge of retirement, it’s a good refresher, although you needed to know most of this some time ago.

In this summary, you will learn

How to assemble the basic elements of your retirement plan;
How Monte Carlo simulations can help you identify good investment choices; and
What investments you should consider when you plan your retirement.

About the Author

Terry Savage, a former stockbroker, writes a syndicated personal finance column and is a CNN markets commentator. She has written three books, including The Savage Truth on Money. She has won many awards, including the National Press Club Award for Outstanding Consumer Journalism.

Summary

Longevity and Uncertainty
As the Baby Boom generation approaches retirement, it faces new financial challenges, particularly investing, securing health care and finding a new way of life postretirement. The generation approaching retirement is growing. According to the American Association...