I don’t talk about retirement much around here. That isn’t because I don’t think it’s important but primarily because I actually don’t know much about retirement planning. I know that one needs to save so they can eventually retire but that is pretty much the extent of my knowledge on the subject..until now.
I had the chance to read a really great book on the subject that was just published this year. It’s called That Thing Rich People Do: Required Reading for Investors (affiliate link) and the author touts the book as “short enough to read in odd moments while warming leftovers or waiting for a computer to reboot, yet include the essentials that every investor should know.â€ I read it in one sitting and agree that it does not lack in terms of solid information.
The author has written several books on specific retirement account such as Go Roth!, but this book covers much more than just types of accounts. It covers every topic related to retirement and investing such as what kind of investment options you have within your 401k or IRA, what index funds are and how to use them, as well as the pros and cons of different investment and account types. The book also spreads light on some of the misconceptions about certain investments such as term life insurance and annuities.
The author clearly lays out a foundation to start from, teaches how to manage investments, deal with losing money, and helps create a long-term strategy.
What I personally liked best about the book is that, although it is a brief book, not even crossing the 150 page mark, it has enough information to build a solid plan for retirement. He even goes through each and every step you should take when building your retirement/investment plan during the closing chapters of the book. It really is required reading for investors that actually want to make money 🙂
The book has a great list of resources after the final chapter closes as well. The author lists very specific and categorized resources for you to find exactly what you need on each investment subject if the book left questions unanswered. Obviously these suggested readings are the opinions of the author but considering his background, I trust these resources to be worth checking out.
I learned a ton from this book and now have a pretty solid plan for my investments and retirement.
About the author
Kaye Thomas is a 1980 graduate of Harvard Law School where he was a member of the Harvard Law Review. He spent two decades as a tax lawyer with prominent firms in Rochester (New York) and Chicago but left the full-time practice of law in 2000 to focus on writing, consulting and public speaking. Kaye is the founder of Fairmark Press Inc. and author of the material on Fairmark.com as well as the books offered there:
- Go Roth!, a book explaining Roth IRAs and Roth accounts in 401k and 403b plans.
- Consider Your Options, a book for individuals who receive stock options and other forms of equity compensation
- Equity Compensation Strategies, a book for professionals who offer advice on how to handle stock options and other forms of equity compensation
- Capital Gains, Minimal Taxes, a book for investors who buy and sell stocks, mutual funds and options
I’m giving away a copy of his book. Whether you are a weathered investor or just starting out, I think this is a great book. It covers the generals of the topic very well without getting into too much unnecessary jargon. The author does a great job of cutting away the fat and getting right to the necessary information to help you build a solid foundation for investing, all the while keeping you entertained as he injects his own personality and sense of humor into the writing which I think is a feat in and of itself with this topic.
To enter the giveaway:
- Leave a comment letting me know if and how you are planning for retirement.
For an extra entry, tweet about the giveaway. Here’s a sample tweet, but feel free to be creative!
- @pffirewall giving away a copy of That Thing Rich People Do(a great book on investing)!chkout the review http://bit.ly/cNg1U0
The contest will run from today, till Sunday the 12th at midnight. I will use Random.org to pick a winner and post the results Monday.
A special thanks goes out to the author, Kaye A. Thomas for providing a copy of his book for this review. You can check out his website to learn more about him. br>
Tags: 401k, annuities, extent, index funds, insurance, Investments, investor, investors, ira, leftovers, misconceptions, money, odd moments, pros and cons, retirement account, retirement plan, retirement planning, term life insurance