A detailed and well-written guide to retirement planning for those with financial literacy.

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HOW MUCH CAN I SPEND IN RETIREMENT?

A GUIDE TO INVESTMENT-BASED RETIREMENT INCOME STRATEGIES

A retirement manual deeply examines the theory behind common investment and spending models.

In this book, Pfau (Reverse Mortgages, 2016) is writing for financially savvy readers interested in exploring the reasoning behind models for retirement planning, with a spotlight on strategies driven by spending expectations. With frequent references to Monte Carlo simulations and the work of financial adviser William Bengen, Pfau leads readers through spending and investment tactics, presenting the many possible outcomes based on known probabilities and assumptions about the economy of the coming decades. The volume delves into the relationship between spending and returns, demonstrating how each can be adjusted to compensate for changes in the other and for the retiree’s personal goals and risk tolerance. With graphs illustrating every arrangement discussed, the book makes it clear that readers who plan to take an active role in managing their retirement funds must have the patience to study all possible scenarios in order to approach investing knowledgeably. The author is candid about the shortcomings of historical data as a basis for investment decisions because of the unusually low interest rates of the present day and the fact that the information is drawn from a limited number of overlapping periods that disproportionately emphasize the mid-20th century. While the work is focused primarily on the underlying theory, it does spend some time on concrete investment advice, highlighting the advantages of delaying Social Security payouts and explaining how to build a bond portfolio. The volume will likely be of greatest relevance to readers who are comfortable with statistical analysis and have the financial expertise to implement the high-level recommendations in the context of their own economic situations; audiences in search of more direct tips on retirement planning should look elsewhere. But for those with the necessary background knowledge, Pfau offers a clear and coherent text (“The argument is that when retirees instead have a front-end bond ladder, they know there is time for stocks to recover before they need to be sold”), which should help those intending to actively manage their retirement funds.

A detailed and well-written guide to retirement planning for those with financial literacy.

Pub Date: Oct. 1, 2017

ISBN: 978-1-945640-02-5

Page Count: 362

Publisher: Retirement Researcher Media

Review Posted Online: Oct. 24, 2017

Kirkus Reviews Issue: Dec. 15, 2017

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DEAR MR. HENSHAW

Possibly inspired by the letters Cleary has received as a children's author, this begins with second-grader Leigh Botts' misspelled fan letter to Mr. Henshaw, whose fictitious book itself derives from the old take-off title Forty Ways W. Amuse a Dog. Soon Leigh is in sixth grade and bombarding his still-favorite author with a list of questions to be answered and returned by "next Friday," the day his author report is due. Leigh is disgruntled when Mr. Henshaw's answer comes late, and accompanied by a set of questions for Leigh to answer. He threatens not to, but as "Mom keeps nagging me about your dumb old questions" he finally gets the job done—and through his answers Mr. Henshaw and readers learn that Leigh considers himself "the mediumest boy in school," that his parents have split up, and that he dreams of his truck-driver dad driving him to school "hauling a forty-foot reefer, which would make his outfit add up to eighteen wheels altogether. . . . I guess I wouldn't seem so medium then." Soon Mr. Henshaw recommends keeping a diary (at least partly to get Leigh off his own back) and so the real letters to Mr. Henshaw taper off, with "pretend," unmailed letters (the diary) taking over. . . until Leigh can write "I don't have to pretend to write to Mr. Henshaw anymore. I have learned to say what I think on a piece of paper." Meanwhile Mr. Henshaw offers writing tips, and Leigh, struggling with a story for a school contest, concludes "I think you're right. Maybe I am not ready to write a story." Instead he writes a "true story" about a truck haul with his father in Leigh's real past, and this wins praise from "a real live author" Leigh meets through the school program. Mr. Henshaw has also advised that "a character in a story should solve a problem or change in some way," a standard juvenile-fiction dictum which Cleary herself applies modestly by having Leigh solve his disappearing lunch problem with a burglar-alarmed lunch box—and, more seriously, come to recognize and accept that his father can't be counted on. All of this, in Leigh's simple words, is capably and unobtrusively structured as well as valid and realistic. From the writing tips to the divorced-kid blues, however, it tends to substitute prevailing wisdom for the little jolts of recognition that made the Ramona books so rewarding.

Pub Date: Aug. 22, 1983

ISBN: 143511096X

Page Count: 133

Publisher: Morrow/HarperCollins

Review Posted Online: Oct. 16, 2011

Kirkus Reviews Issue: Aug. 1, 1983

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WHAT A WONDERFUL WORLD

A LIFETIME OF RECORDINGS

Noted jazz and pop record producer Thiele offers a chatty autobiography. Aided by record-business colleague Golden, Thiele traces his career from his start as a ``pubescent, novice jazz record producer'' in the 1940s through the '50s, when he headed Coral, Dot, and Roulette Records, and the '60s, when he worked for ABC and ran the famous Impulse! jazz label. At Coral, Thiele championed the work of ``hillbilly'' singer Buddy Holly, although the only sessions he produced with Holly were marred by saccharine strings. The producer specialized in more mainstream popsters like the irrepressibly perky Teresa Brewer (who later became his fourth wife) and the bubble-machine muzak-meister Lawrence Welk. At Dot, Thiele was instrumental in recording Jack Kerouac's famous beat- generation ramblings to jazz accompaniment (recordings that Dot's president found ``pornographic''), while also overseeing a steady stream of pop hits. He then moved to the Mafia-controlled Roulette label, where he observed the ``silk-suited, pinky-ringed'' entourage who frequented the label's offices. Incredibly, however, Thiele remembers the famously hard-nosed Morris Levy, who ran the label and was eventually convicted of extortion, as ``one of the kindest, most warm-hearted, and classiest music men I have ever known.'' At ABC/Impulse!, Thiele oversaw the classic recordings of John Coltrane, although he is the first to admit that Coltrane essentially produced his own sessions. Like many producers of the day, Thiele participated in the ownership of publishing rights to some of the songs he recorded; he makes no apology for this practice, which he calls ``entirely appropriate and without any ethical conflicts.'' A pleasant, if not exactly riveting, memoir that will be of most interest to those with a thirst for cocktail-hour stories of the record biz. (25 halftones, not seen)

Pub Date: May 1, 1995

ISBN: 0-19-508629-4

Page Count: 224

Publisher: Oxford Univ.

Review Posted Online: May 20, 2010

Kirkus Reviews Issue: March 1, 1995

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