Retirement is always on the minds of those nearing it, and should be on the forefront of those in their early career years as well but rarely is. A recent news story indicated that baby boomers are retiring at a rate of 10,000 per day in the U.S. and that unless something is done with social security, the trust fund will be depleted by 2034. What happens after 2034? Will we outlive our financial resources?
Public libraries have a wealth of informational resources on how to plan for and live comfortably in retirement. With the world wide web at our fingertips we forget that paper, books and magazines also hold valuable information. Many of the educational reading materials on retirement cover the financial aspects, and explain that no matter how far away retirement is, saving even a little is vitally important. Your local library has many books that explain how to prepare for and what to expect in retirement. Many address issues faced by those already in retirement.
Below are 5 not-to-miss books to check out at your local library.
1. “Retire Happy: What You Can Do NOW to Guarantee a Great Retirement” by Stim and Warner covers how to grow and protect financial assets using IRAs and 40l (k)s but goes far beyond financial topics. The authors declare four things vital to a happy retirement: money, reasonably good health, a network of family and friends and stimulating and enjoyable activities.
2.“Yes, You Can Still Retire Comfortably!” subtitled “The Baby-Boom Retirement Crisis and How to Beat It” by Stein and DeMuth. They admonish pre-retirees among other things to fund as fully as possible retirement plans available to them, consider tax implications of everything you do, and make a plan with a reliable financial advisor and stick with it.
3.“How to Retire Rich: Time-Tested Strategies to Beat the Market and Retire In Style By James O’Shaughnessy- “Don’t buy stocks based on hunches, hot tips or trendy advice [but rather] look at the stock market’s history and apply the proven formulas that won’t leave you vulnerable.” He shows how to develop a portfolio tailored to one’s age, financial situation and long-term needs.
4.Another great guide to consider is by Nolo Publishing. Specifically “Essential Retirement Tax Guide”, “IRAs 401 (k)s & Other Retirement Plans” and “Social Security, Medicare & Government Pensions”.
5.“Smart Women Don’t Retire—They Break Free”- Boomer women have been trailblazers throughout their professional lives. Now that their careers are losing their edge and children leave the nest, these women are ready to do for retirement what they did for the working world–redefine it. The first book from The Transition Network focuses on the unique needs of women as they explore new possibilities and redesign the old model of retirement, which no longer offers the challenges that these women experienced throughout their careers.