Buckets of Money: How to Retire in Comfort and Safety
by Raymond J. Lucia
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Book Summary Information
Author: Raymond J. LuciaEdition: Hardcover
Audio: English (Unknown); English (Original Language); English (Published)
Published: 2004-02-23
ISBN: 0471478660
Number of pages: 320
Publisher: Wiley
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Book Reviews of Buckets of Money: How to Retire in Comfort and Safety
Book Review: Great way of thinking about how to handle the up/down cycle of the stock market
Summary: 4 Stars
This book introduces a new way of how to handle the vexing problem of dealing with the ups/downs of the stock market while winding down your retirement savings. While I'm not buying into the exact plan presented by Mr Lucia, I am planning on a variation of his plan utilizing annuities as part of the bucket plan.
What this book does in introduces you to some of the problems you may encounter when dealing with the stock market and winding down you assets in retirement. The real gem in this book isn't the exact details of the proposed plan presented in the book, but the basic concept and the things you need to consider on how to use the various tools to deal with the surprises the market is going to present to you in your retirement and how to make sure you don't run out of funds before you die.
Here is a list of some of the books I have read in preparing for retirement, and a one-liner, and ranking for each. I will order them in the order I would read them:
1. The AARP Retirement Survival Guide: How to Make Smart Financial Decisions in Good Times and Bad (Julie Jason)
Rank: 5/5
Summary:Real good overview and introduction to the many considerations for retirement.
2. Buckets of Money: How to Retire in Comfort and Safety (Raymond Lucia)
Rank: 4/5
Summary: Interesting concept on planning for retirement. Although I'm not sure I will use the plan Raymond lays out here, I think the general concept is a real good idea on how to think about tapping your assets as you plan for retirement.
3. Annuities For Dummies (Kerry Pechter)
Rank: 4.5/5
Summary: Great details on the highly complex subject of annuities, a critical tool for your retirement planning to alleviate longevity and market risk.
If you read the books above, I don't think there is a need for reading the books listed below since either they don't have the depth, or have already been covered in sufficient detail in the books above.
The Bogleheads' Guide to Retirement Planning (Various Aurthors)
Rank: 3.5/5
Summary: I think this book tries to cover a little to much, and as a result has topics that I don't think are appropriate for the retirement planning. Since the book attempts to cover so many topics, it really doesn't give real good details on any one topic. I think of this book, more as an executive summary for the various topics it covers.
Can I Retire? How Much Money You Need to Retire and How to Manage Your Retirement Savings, Explained in 100 Pages or Less (Mike Piper)
Rank: 2.5/5
Summary: What do you expect for 100 pages? Although the author does seem to stay on-topic in this book, its just to broad to really give you any actionable information. Perhaps a decent book if you are just wading into the whole concept of retirement and don't want to put alot of thought into details(IE the big picture). This book does not answer the question it poses in the title.
Hope this helps
James
Summary of Buckets of Money: How to Retire in Comfort and Safety
A proven way to financially prepare for retirementAre you wondering if you can make your retirement savings last?
Concerned about inflation reducing your purchasing power?
Worried about the stock market's violent swings?
In Buckets of Money: How to Retire in Comfort and Safety, nationally recognized Certified Financial PlannerTM and radio personality Ray Lucia offers you a smart and conservative way to protect and grow your nest egg-so you can enjoy a comfortable retirement without worrying about your money running out.
Developed by Lucia over his thirty-year career as a financial planner, the "Buckets of Money" technique is a proven way to achieve both income and growth, while guarding against the ravages of inflation. Buckets of Money is filled with in-depth insights and practical advice that will help you assess your retirement situation, save the money you need to last your entire lifetime, and adjust your plan to good times and bad.
Regardless of your age, income, net worth, or investment experience, you need to have a solid plan for your retirement years. Buckets of Money provides you with such a plan, and shows you the best way to implement it.
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