[.ca] What If Boomers Can't Retire?: How to Build Real ... (ISBN 1576752496)

good anaysis, poor or missing advice.:
As noted, the author's analysis of the problem is a very good one. Unfortunately, he uses it as a springboard for grinding his prefered political axes, rather than offering realisic advice for the boomers who find themselves in this quandry. His advice takes three primary forms: 1. get out of debt before you leave your job -- a no-brainer. 2. "pursue active aging" -- ie, don't plan on being able to retire. 3. pursue "productive investments" -- although he doesn't tell you that these investments are at least as risky as established stocks, because they're by definition coming from companies gambling that the new production capabilities they're building will pay off. Indeed, often such opportunities arise from new endeavors, which may take off spectacularly with enourmous returns.... or may crumble to dust inside a year. You have to be much more financially saavy to properly evaluate these opportunities -- a fact that Mr. Parker doesn't address -- further, you may be prevented by law from making some such investments due to the SEC's "qualified investor" laws. Finally, Mr. Parker makes a few policy statements that are dubious at best... as mentioned above, largely taking a "State Planning" approach that have proved disasterous across the globe. They are not the largest part of the book by far, but some of his policy suggestions work against his credibility -- a fact he is aware of, and mentions in at least one point in his book. In short... although its analysis is good, this book does NOT deliver what it promises, namely "How to Build Real Security, Not Phantom Wealth."

Great point about the future of stocks, but where's the beef:
This book is very good in one way, but not so good in others. The author puts forth an important economic point that came to my mind several years ago - myself being a 52 year-old boomer who is concerned about what may happen to stock valuations. That is, what is going to happen to the stock market when baby boomers start to retire in large numbers and sell off their stocks to generate retirement income? When this huge block of buyers all of a sudden becomes a huge block of sellers the obvious result one would expect from a basic supply & demand scenerio would be a drop in the price of these stocks. Now, I don't know for a fact that this will happen, but Mr. Parker makes it sound like there is no doubt that equity prices will be devastated, putting many Boomers into the "surprised" category and driving them into economic despair. There is no doubt that this is a distinct possibility, but I don't think this is a certainty yet. There are just too many variables that we can't be certain of at this point in time. While the author is very good at making this point - and it's a valid one - his mindset for possible remedies comes from a distinctive collectivist viewpoint. A strong free market proponent Mr. Parker is not. He talks of dismantling stock as we know it today which is bought & sold on a very liquid basis and replacing it with more of a "collaborative" (to use his word) system of ownership in which everyone in the company has an ownership stake and is designed in such a way as to make the sale of ownership positions somewhat difficult. It smacks closely of a socialistic/communistic system that has been proven a failure throughout human history. It's obvious that the author has very little confidence in the ability of the free market to adjust and adapt over time to meet the needs of consumers (in this case, retirees). I'm not saying that the free market is always perfect, but it's a lot more perfect than anykind of socialist/controlled-economy scheme that has ever been devised. The author makes numerous statements of assumed fact in the book, but most of them would really be up for strong debate with a person who has a strong belief in the power of the free market. I really believe that a knowledgeable free market economist would be able to punch major holes in many of the author's assumptions of "fact". So, over-all Thorton Parker starts out the book with a very valid concern about the future valuation of stocks, but then things kind of fall apart from there with a lot of assumptions and ideas that would likely be hotly debated by many. As far as "How to Build Real Security, Not Phantom Wealth", there is virtually no guidance at all on how to do this in the real world today. He gives you a few theoretical points to chew on, but they really are not all that practical. His best advice for boomers is to diminish their expectations for luxurious retirement years, and in fact, many of us should expect to work until we drop, literally. Surely, many boomers will end up doing this, either out of necessity or desire to be active. But I have more confidence than Mr. Parker that the free market will at least partially alleviate the problem of a possible, if not likely, declining stock market.

One Great Thought, So Many Pages:
Amazing concept and credible, but apparently wanted to lead us, as a Pied Piper to his world. I guess he's pretty smart, because he confused the heck out of me. An academic andeavour to fill a vitae. As a financial planner, I had to take seriously what he wrote concerning the largest demographic having to sell their stock. Left way too much out on solution, Way. Way, WAY too much on the political. Couldn't get a grip on who he was trying to reach.

Important piece of work:
Great summary of where we are today, with the current ponzi scheme of retirement that relies on the stock market infinite price growth. As people below said, the author is quite weak on the solution side, but that's mostly because there isn't any simple one, and they clearly missed the point, which is the main purpose of the book to awaken folks and make them understand what is really going on. The book is very easy to read and more intelligently written than few others discussing this topic. The author provides a lot of relevant references and allow you to dive into these issues if you'd like.

A vital, timely, level-headed financial preparedness book:
In What If Boomers Can't Retire?: How To Build Real Security, Not Phantom Wealth, Thorton Parker draws upon his more than forty-five years of diverse experience and expertise in government and business management, strategic planing, finance and accounting, as well as policy development, to present the reader with a solidly written, informative and "user friendly" guide to protecting personal financial interests, including preparing for stock market downturns, scandals, and ultimately end up being able to enjoy a retirement that is not dependent upon social security. A vital, timely, and level-headed financial preparedness book, What If Boomers Can't Retire? is a "must read", not only for people of the Baby Boom generation, but for Gen-Xers and anyone else who must plan for their retirement despite the vagaries and volatilities of the stock and bond markets.