Book Review: Can I Retire?

The subtitle of this book is “How much money you need to retire and how to manage your retirement savings explained in 100 pages or less” and that is a good summary of what the book is about. As you might expect from the length of the book it doesn’t go into extended detail on any particular subject. That is okay though because for some subjects an extended explanation isn’t necessary. For subjects that might require more explanation you are given enough information to guide your further study.

The first chapter gives a good explanation of determining how much you need to retire. The next chapter examines the 4% rule and discusses how the sequence of returns can have a huge impact on your retirement savings and whether you will outlive your retirement savings.

The author later discusses using annuities to minimize the risk of outliving your money. He also discusses what to look for when buying an annuity to keep from getting ripped off. He doesn’t suggest putting all your retirement savings in an annuity. Just a portion of your retirement savings should be put in annuity thus allowing you to take more risk with the rest of your savings.

There is also an extended explanation of strategies such as distribution planning and asset location to reduce taxes on your retirement savings. Some of these strategies I hadn’t seen explained before but they could make a big difference in the taxes you pay on your retirement savings.

This book is an excellent resource for those who are planning for the retirement. The book provides the information you need without a lot of extraneous details and technical jargon.

The book’s author, Mike Piper, also writes an investment blog,Oblivious Investor. You can read the blog for free and if you like the blog you can be sure you will like the book.

Can I Retire?: How Much Money You Need to Retire and How to Manage Your Retirement Savings, Explained in 100 Pages or Less