A Million Is Not Enough: How to Retire with the Money You'll Need
Will you have over $1 million ready for your retirement? If the answer is no, and this figure sounds totally out of reach, think again. A million dollars isn't what it used to be. The truth is that Baby Boomers, who have enjoyed more abundance and pleasures than any previous generation, need more than a million dollars for a comfortable retirement. And you can achieve this-even if you don't already have a net worth close to a million dollars-by starting now.
In A MILLION IS NOT ENOUGH, Michael Farr, one of America's leading financial strategists, shows you that this goal can absolutely be accomplished-no matter what your income bracket. Farr has decades of experience as an investment strategist advising thousands of clients. With this inside information he provides a step-by-step program that includes:
STEP 1: Save it...the 25 simple things you can do today to save an extra $300-$500 a monthSTEP 2: Invest it...the techniques all of us can use to demystify investingSTEP 3: Personalize it...investment strategies for readers in their thirties, forties, and fiftiesSTEP 4: Manage and protect it...how to keep investments safe in volatile marketsSTEP 5: Pass it on...creating a legacy for the future
This strategy is ambitious, but Michael Farr shows you how painless it can be. Whether you're thirty-five, forty-five, or fifty-five; getting a head start, starting on time, or playing catch-up, A MILLION IS NOT ENOUGH can help you establish the financial security you really need for your retirement years.
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Make decisions with your head and not your gut and your heart
Do what feels bad
The Million Mystique
What Is Abundance Guilt?
Is 1 Million Enough?
The Boomer Generation Defined
My How Things Have Changed
The Costs and Benefits of Living
Finding 470 a Month
Putting Savings Plans into Practice
Understanding Your Risk Tolerance
Understanding the Inherent Risks of Investing
Determining Your Returns Expectations
Defining Our Mission
What Is the New Economy?
Whats in This for Me?
Pensive About Pensions
On the Brighter Side
What Makes Us Unique
An Abundance of Drive
Are You Ready?
A New Stage in Life
Seeing Your Future
What Will Retirement Look Like?
Envisioning Your Retirement
Retirement as a Second Career
Its Never Too Late to Get Started
Calculating Your Net Worth
Determine What You Are Spending Now
An Epidemic of Spending
Control What You Can
How Do I Get There?
Determining the Asset Classes That Match Your Returns and Risk Profiles
Selecting Specific Stocks
Farrs List of Corporate Bond Funds
The ThirtyFiveYearOld NeoBoomers
A Single NeoBoomer
The FortyFiveYearOld Tail End Boomers
The FiftyFiveYearOld Core Boomers
Dont Defeat Yourself
Farrs Financial Rules
Farrs Rules in a Nutshell
Dont Chase Bubbles
When Your Assets Multiply
Reducing the Tax Burden Through Gifts
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