Are you saving for retirement at work?
Do you know the difference between a pension and profit sharing plan?
How about the difference between a stock and a bond?
Do you have an IRA? What kind?
How much are you saving?
Will Social Security help you?
Are your eyes glazing over? Relax! Pick up a copy of The Shortest Investment Book Ever and get an fresh and clear understanding of investment basics like you’ve never had before. Short, yet comprehensive and understandable, the book will give you “just the facts” about retirement investing, Social Security, 401(k) and 403(b) plans, and IRAs.
It will really show you what you need to know – and no more – about saving for your future.
Former Wall Street senior executive James O’Donnell will help your listeners make sense out of investing by explaining:
- What you really need to know about retirement saving—and what you don’t
- What Wall Street isn’t telling you about investing
- How to start saving, if you haven’t already
- The real reason retirement looks grim—and why it’s not Social Security’s fault
- Wise investment strategies for every stage of life
- What the Bible teaches about investing
- Making sense out of mutual funds
In today’s challenging economy and with Wall Street’s volatility, the thought of saving money for retirement might not be top of mind. But it should be.
“Good retirements are often more than eating out or playing golf,” says James O’Donnell, author of The Shortest Investment Book Ever (Northfield Publishing, October).
In 2005, 37 percent of Americans—almost 28 million households—had no retirement savings of any kind. At the same time, a 2006 study revealed that $295,000 is needed in retirement to fund health care costs alone.
“There are millions of people approaching retirement who have nothing more than some digital photos stored up in their cameras to carry them through their “Golden Years,” says O’Donnell. “They don’t realize what it takes to retire and they don’t seem all that interested in finding help.”
O’Donnell, a former senior executive at some of the nation’s largest investment companies on Wall Street, has seen thousands of people who are unprepared for retirement, many of whom don’t understand what they need to be doing and why, and many who plan to simply rely on Social Security.
“Social Security is not an income replacement program,” says O’Donnell. “It’s a safety net against abject poverty.”
O’Donnell advises that the key to solving the retirement savings problem is to start early, save more, and spend less. Much less.
“It’s such an unattractive solution,” says O’Donnell. “But like eating your fruits and vegetables, getting sufficient sleep and exercise, we must acquire a taste for this stuff.”
O’Donnell recommends investing in a variety of equity-oriented assets through low-cost, no-load index mutual funds as well as bonds, understanding that you have to stick with it for the long haul, no matter what the market might do day to day.