The vast majority of Americans are behind on their retirement savings plan. Luckily, if you fall into this category, there are a number of extremely helpful books available that can help you catch up. Learning how to invest and save money for retirement will help you retain as much of your hard earned cash as possible. The following are three must read books on the subject.
The Power of Zero
Taxes can be a confusing and daunting aspect of planning and saving for retirement. However, it’s something you must make sure you’re knowledgeable about. Author David McKnight does a great job at teaching this concept and answering any burning questions you may have. An article written for rlwealthpartners.com states, “The Power of Zero is a valuable road map for tax-free retirement planning. In this groundbreaking book, David McKnight provides you with a step by step guide on how to get to the 0% tax bracket, effectively eliminating the tax rate risk from your retirement picture. Find out why the 0% tax rate is so effective and powerful when a majority of your retirement is in tax-deferred vehicles like 401(k)s and IRAs.”
Retire Inspired
Member of Dave Ramsay’s financial dream team, Chris Hogan is an excellent resource for retirement information. He continuously stresses the fact that retirement has nothing to do with age. He wants you to focus more on numbers. His book, Retire Inspired, will help teach you to make smart investing decisions and set reasonable expectations. He will also help you determine which financial professionals you need. Hiring the right team will help make the most of your investments. It will also help you maximize the number of years you have left in the workforce. For more retirement advice, Hogan hosts his own podcast entitled, ‘The Chris Hogan Show’.
Seven Secrets to a Happy Retirement
Patrick Kelly wrote a book that expounds on more than the financial side of retirement. The above mentioned article also states, “In this short but insightful book, Patrick Kelly breaks down other aspects of life that affect us when we retire, such as fitness, sharing lasting memories and gratitude for what we have.” This is important information to take into consideration. Retirement is a challenging transition for many people because most only consider the financial aspects of it. The fact is, if you’re not making preparations for every part of your life after retirement, you’re likely going to struggle. It’s important to find activities and hobbies that excite you. Make a plan or a schedule to determine how you’re going to spend your time. These small acts will help make the transition easier. If you’re feeling unprepared for retirement, take some time to learn more about it. Educating yourself about this monumental shift in your life will help dispel any anxiety regarding the subject. The more you know, the more likely you’ll be to have a successful, happy retirement.