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You're Fifty--Now What: Investing For the Second Half of Your Life
by Charles Schwab (Reader: John Rubinstein)
Product Group: Book
Publisher: Random House Audio (2000-12-26)
ISBN: 0375416692
EAN: 9780375416699
Dewy Decimal #: 332.0240565
Audio Cassette
Edition: Abridged
Release Date: 2000-12-26
SKU: MOZ125425
Condition: Very Good
Comments: 0375416692 Audio Book sealed in factory shrink wrap. Your book will be carefully protected for transit in sturdy, weather-resistant packaging. We are prompt, efficient, communicative.
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Editorial Reviews
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Product Description
4 cassettes/ 6 hours
Read by
Every eight seconds someone in this country turns 50, an age at which even baby-boomers can no longer put off becoming fiscally responsible and planning for the future. For everyone who finds that thought daunting (and that's an awful lot of us), Charles R. Schwab, America's most trsuted figure in financial services, is here to outline the simple steps we should take to evaluate what we have, determine what we'll need, and put our money to work to make our future one of reward instead of worry.
In the same upbeat, user-friendly style that made Charles Schwab's Guide to Financial Independence a bestseller, You're Fifty--Now What? offers a mix of clear and workabel advice, simple worksheets, and a healthy dose of encouragement. In addition to learning how to accumulate and grow their money, listeners will even find help with estate planning and charitable giving.
His message is that the goal is not just financial security, but financial peace of mind. The way to get there is not by being a spectator, but a participant. It doesn't take special talent or advanced degrees; it just takes attention and a little time. With baby-boomers living longer and spending more time in retirement, the need is clear. Charles Schwab's You're Fifty--Now What? is the perfect place to get started.
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Amazon.com Review
As boomers reach midlife faster than a new Beatles CD can climb the charts, many are wondering if they'll have sufficient resources to comfortably make it through their golden years. Investment guru Charles Schwab's You're Fifty--Now What? addresses these concerns with a step-by-step road map to help the middle-aged assess where they're at, determine where they want to go, and pick the proper mix of investments to get there. "While getting older isn't a bad thing," Schwab writes, "being unprepared for it is. And by not understanding the financial part of your future, you sabotage yourself and limit your choices." Not surprisingly--given the author's background as founder of the discount brokerage that bears his name--the book contends that you have to remain an active investor for the rest of your life in order to make it financially over the long haul. To do so, it advocates using as aggressive an approach as you can comfortably handle, centered on a combination of broad-based index funds and actively managed mutual funds or individual stocks. With plenty of easy-to-use worksheets, Schwab helps you take stock of everything you've accumulated, determine how much it costs you to live now, and estimate what it will take to maintain that lifestyle into the future. The latter is determined by calculating everything from projected housing and tax obligations to food and entertainment expenses, while life-expectancy tables, inflation adjustment factors, and investment return rates allow you to see where you stand versus where you need to be. Schwab then addresses reaching these goals through a proper investment mix. (Sidebars explaining the basics guide even novices through these critical steps.) Additional chapters detail ways to develop a regular long-term cash flow, and suggest how to monitor its progress while making adjustments when necessary. There is also information on financial advisors, insurance, estate plans, and charitable giving, adding up to a wealth of specifics presented in a manner that virtually everyone should be able to understand and follow. --Howard Rothman
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Customer Reviews
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Every retiree should read
Rating  (5)
Date: 2007-02-16
1 out of 1 customers found this reveiw helpful
I agree with the other reviewers that this book is an outstanding essay for those who want to learn how to select stocks for a value portfolio. Where we differ is that for the typical investor he does not have the resources to build a properly diversified portfolio- either financial or mental resources. Value stocks do provide returns in excess of broad market returns but in order to have adequate diversification you must assemble several hundred issues well beyond the resources of the average investor. Further one must have the time and skill to evaluate several thousand issues.
I can offer a solution to this problem. I want to recommend for you a book titled How to Make Money in the Stock Market-Buy 2,500 different stocks for $1000 - Pay no Commission This book is a must for those wanting to find out about indexing (passive investing) and why it is the superior method for the small investor (and big one too). This book is an outstanding guide to personal investing. It will be useful to all investors from novices to highly the highly experienced. This book prepares the reader to approach investing from the standpoint of the underlying science. It is the antithesis of a 'get rich quick scheme'.
All aspects of Modern Portfolio Theory and passive (index) investing are explained in a through and easily understood manner. The aspect I like most is that as well as a solid theoretical foundation the book is very practical and shows the reader how to create (and more importantly) and manage over time a successful portfolio. This is a great book- for the beginning investor, it's a great place to start and for the experienced investor there are many valuable suggestions.
It's a shame to think of how much money investors have lost "investing" in the stock market over the years. I wish I had read this little book years ago. The chapter on automatic investing recommends a number of portfolios that follow modern portfolio theory and adjust risk as you age without any effort on the part of the reader at all. Had this book been written years ago and had I followed its directions I would be rich today of that I am certain. Nevertheless I will pursue one of the portfolios recommended and stick to my chosen asset plan.
Piscaqua Research in a study covering the period 1987-96 found that only 10 out of 145 major pension funds, or just seven percent, out performed a portfolio consisting of a simple 605/405 mix of the S&P 500 index and the Lehman Bond index respectively.
Os it logical I ask for you to believe that you can predict which actively managed funds will out perform, or are you overconfident of your skills? If you are trying to find the great fund managers who will out perform in the future ask yourself: what am I going to do differently in terms of identifying the future winning fund managers, than did the pension plans and their advisors? And if you are not going to something different what logic is there in playing a game at which others with superior resources have consistently failed?
If you a really serious in finding an investment technique that will provide you with reasonable return with less risk I suggest the following little book.
Just click on the title to find the book. How to Make Money in the Stock Market-Buy 2,500 Different Stocks-Pay no Commission
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uninformative
Rating  (1)
Date: 2004-11-09
3 out of 27 customers found this reveiw helpful
This book is uninformative and in this book Charles pretends to have opened his brokerage firm for retail investors but it isn't because the CHARLES SCHWAB BROKERAGE IS TOO EXPENSIVE IT REQUIRES $10,000 TO OPEN a Brokerage ACCOUNT for an indiviual investor[also called retail investor]Harrisdirect,Firstade,and Optionsxpress don't require anything to open a brokerage account for individual investor.
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Welcome Resource!
Rating (5)
Date: 2002-02-06
12 out of 13 customers found this reveiw helpful
Schwab's book provides solid and practical information for those of us who no longer can be called young no matter what the definition is. Unfortunately, helpful financial books that target Baby Boomers and older folks are in shamefully short supply! For readers who want another indepth look at the financial issues that face older investors, I'd suggest another excellent book-the Retirement Bible. Like Schwab's book, the Retirement Bible provides advise on recommended portfolio withdrawal levels and devotes an entire chapter to discussing in what order money should be withdrawn during retirement. Unlike Schwab, Lynn O'Shaughnessy, the author of the Retirement Bible, suggests that Roth IRA money should ideally be touched last. I definitely agree with her opinion and many financial experts do too. What I also like about the book is that she demystifies a lot of estate planning issues, which books written by attorneys hopelessly fail at. You can't go wrong getting either of these books.
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For Baby Boomers: Should be titled You're 60, Now What?
Rating  (4)
Date: 2001-11-21
10 out of 12 customers found this reveiw helpful
This is a book that everyone should have in their personal development library. Is it a great read or does it have cutting-edge insights? Probably, no. But wisdom is wisdom and doing what's right with your money is more a matter of principle than fancy strategy. If your strategy is too far removed from this book, then you're probably taking on far more risk than you should. I think that a lot more should have been written about wills and trusts for estate planning. That's an area that would have only taken another 10 pages, but would have completed the works and is something that everyone over 50 with bucks needs to know well.
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This book is a must read and a real eye opener.
Rating (5)
Date: 2001-10-02
20 out of 21 customers found this reveiw helpful
I am in my mid fifties. I have a MA in economics on top of an engineering degree. I was never very interested in investing as an economics student when it was merely a academic subject. I focused on other parts of my study of Economics. Now that I am older and trying to determine if I am indeed able to retire now I am finding the subject of investments much more fascinating and "Your' Fifty...." Extremely informative and helpful in showing me how retire in some comfort and with some confidence that I can sustain that comfort in the face of taxation and inflation throughout the "second half".I have read several other retirement investment books since this one and found that this one was the best of the lot. I highly recommend it to anyone who planning retirement savings plans or anyone wondering about retirement right now.
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