How To Retire Happy: Everything You Need to Know about ...

Helpful Insight From Real Retiree:
My first observation in reviewing "How to Retire Happy," by Stan Hinden, is that the title of the book is misleading. In fact, the author essentially waits until the last two pages of the book to tell us some reasons why he really likes his retirement. And we learn essentially nothing of his day-to-day activities that make his retirement a happy one. But, despite the misleading title, things turn out to be just fine, as by the time one reads through all the areas that the author worries about or used to worry about relative to his retirement, it is almost like we have lived through those experiences ourselves. We are now more than ever ready to learn more about the fun part of retirement from another source. But more bad news is the fact that the author waits until age 69 to retire, then goes back to work part-time eight months later, even though both he and his wife have handsome pensions lined up. His conclusion is that he was much better off financially having waited to retire. This less-than-risky leap into retirement is not what most pre-retirement readers want to hear, I would think. Also, since he takes five years into retirement to finish the book, he brings us his views and information on retirement from a perspective of a man well into his 70's, an age that is well-beyond the current average age for Americans starting retirement. But some good news is that his thoughts couple maturity with the freshness and openness that we're looking for. He tells us his goal for the book is to "take the mystery out of retirement." What he has to say, to me, comes in a style and content that is sincere, authentic, and not preachy or meant to be perfect. And while most of the book's information can be found in countless other books or materials on retirement issues, it is the author's personal-experience perspectives, weaving in and out, that make the book worth reading. Perhaps the book's best chapter is the one entitled "How Should I Invest During Retirement?" As most experienced investors know, there simply is no one answer for everyone in this area or even for one person all the time. Says the author, "Your goal as a retiree should be to develop an investment portfolio that provides relative safety, current income for living expenses, and the growth of your saving." While we'll all probably agree with this, now what? It's a bit like a baseball manager telling his pitcher, "Don't give him anything good, but whatever you do, don't walk him!" The author starts this chapter with, "Three years after I retired, I was shocked to discover that if my wife and I didn't cut down on our spending and get better results on or investments, we would use up all our retirement savings within eight years." He gets professional advice to concentrate on cash flow. And after laying out the financial alternatives that he has been provided in his real world, Hinden selects a combination not without risk, in an effort to squeeze out a return that will bring him enough money to buy things he's really counting on in retirement. In this area, he's taken real risk and is not putting us to sleep. His struggle is personal and frank, and his conclusion is more than food for thought. And while I don't agree with his conclusion in the chapter on long-term-care insurance, he comes right out with his concerns: "I can tell you what scares me. It's the idea that my health or the health of my wife, Sara, might deteriorate to the point where one of us would have to become a resident of a nursing home for an extended period of time." And he shares his fear of "the very real threat that we could be wiped out financially by the cost of that care." What also is refreshing in this section and others is that he gives readers actual financial details for he and his wife that are involved in their decisions. How refreshing to have some real numbers from a real retiree. Another enjoyable chapter is "Where Do I Want To Live After I Retire?" Again, he shares the personal struggles and explorations that he and his wife experienced in their relocation explorations. He brings this important area of retirement options to life and, as a result, you feel more experienced yourself after having read it. And finally, in his final chapter, "How Can I Age Successfully," his list of the "do's" and "don'ts" relative to growing older are first-class. Again, perhaps the best thing about this book is that it is full of personal experiences from a guy who is authentically retired. The clear majority of "retirement" books now emerging are written by people who have advice and opinions on retirement, but have no interest in retiring themselves soon. I find this a bit ingenuous most of the time. What Hinden gives us is a view from the inside looking out. It is far from a perfect book on retirement, and most readers will find sections or chapters that they will want to skim or skip entirely. Despite this, I enjoyed reading the book and recommend it highly to others.

Out of retirement......:
Stan Hinden writes a column for the Washington Post and I've read his column since day one. I cannot say this is the best book ever written on the subject because I've only read three books, but I can say I've learned a great deal about retirement from Mr. Hinden and what I've learned was not taught in the midcareer retirement seminar I attended. Unlike some who write on the subject, Mr. Hinden is actually retired...well sort of. He took a retirement pension from the Washington Post and then started writing his column on retirement, and now he has published a book on the subject. As Yogi Berra said, it ain't over until it's over. Mr. Hinden says although you may retire from one job, perhaps you'll go onto another. Many folks retire from several jobs over the course of their life. Others figure out how to retire once and do it before 40. Mr. Hinden's main point is to rethink what retirement means to you. And, it's very important to have a plan for your "retired" years. Mr. Hinden deals with financial matters, probably not with the comprehensiveness of a financial planner, but he provides enough information to get you started asking the right questions as well as a list of other sources with more in-depth information. A few of his goodies include -- yes, you can arrange with Social Security to make deductions for tax purposes, and yes, you may be eligible for pension coverage from a former employee if you were vested before you left. Mr. Hinden underwent surgery a few years ago, and he has a great deal to say about medical expenses and health insurance. He also has some things to say about decisions he made prior to retirement concerning his beneficiaries. He also explains some of the mysteries associated with Part A and Part B Medicare. He also discusses the value of long-term health care insurance. It's never too early to think about retirement planning. I am sending copies of Mr. Hinden's book to all my children so they can begin to think about it. That should boost his post-retirement income by a few cents.

Not the best out there...:
A book for the beginner. The financial planning advice was broad in scope, but shallow in depth. For the novice. The book is written in the voice of a person from my parent's generation (I'm 48). The approach to planning here is very conservative and even a bit naive. There were some good passages on trusts and wills. I was also a bit surprised there was no mention of non-financial issues relating to retirement, like personal growth. Money isn't everything. Try the book by Wasik, much better.

Good basic book covers all the important areas:
Solidly researched and tightly written, this one will answer all the basic question a prospective retiree could have without overwhelming the reader with unnecessary detail or repetition. The author doesn't neglect to cover important side issues such as how to age successfully and deciding where to live after retirement but also covers basic questions such as : Am I ready to retire? Can I afford to retire and How should I invest DURING retirement? All in all, a good, well-balanced guide to retirement planning.

Different book than I expected:
This was a very interesting book even for those of us who reitred early (in our 50's) because we had not yet had to deal with many of the issues discussed. However, the title made me think it was going to be more about the non-financial aspects of retirement -- the "Happy" part. Now 6 years into our retirement, we have traveled for a year (and written a book "Live Your Road Trip Dream - Travel for a year for the cost of staying home), done some part time work selling, played with the grandkids, traveled some more, and are continually looking for new ideas to fill our days. As we often say to people, "Yes, we're retired, but we're not dead!" We have our eyes open and looking for new challenges. That's what I thought we'd find in this book. Hmmm, maybe I should write THAT book.... The author presents his topics with candor and real examples, which is very helpful. It at least gives you a general idea of where to start and what the "ballpark" looks like, but I'm still looking for more "happy" ideas.