7 Best Retirement Planning Books | Financial Analyst Insider (2024)

We all have a vision of what we’d like our retirement yearsto be like. The difference between those who dream it and those who do it is allin the planning. By carefully constructing a retirement plan, you can become asuccess story instead of kicking yourself for what you should have done yearsago.

The key to planning is education. Retirement books offer agreat way to learn from others who have come before you. Let’s look at avariety of books that can help you craft your plan.

Get What’s Yours: Secrets to Maxing Out Your Social Security

This updated version of Laurence J. Kotlikoff’s book demystifies the complicated labyrinth of Social Security benefits. As one of the most important revenue streams you’ll have in retirement, it pays to maximize your benefits.

Unfortunately, there are thousands of rules in the Social Security system, which makes it completely un-accessible for most people.

This book shines at breaking down those rules so you can maximize the money you are owed. Keep in mind some topics may or may not apply to your personal situation.

Beginners might have a hard time sifting through this book for nuggets that apply to their situation. But, if you can find some valuable tips that will maximize your Social Security money for life – that can be a powerful incentive to learn about such a challenging system.

By making very dry content more acceptable to regular people, Kotlikoff provides a great retirement resource.

Control Your Retirement Destiny

This book by Dana Anspach is geared toward those who will behitting retirement in just a few years. If you’re in your 50s, this book canteach you about moves you should be making right now to secure your upcomingretirement.

It takes a comprehensive look at all the variables, such asSocial Security, taxes, health insurance and care, investments, and annuities,that you need to consider before penning that resignation letter.

Whether you’re a beginner when it comes to financialplanning or fairly advanced, this book will work for you. It gives youactionable advice on what you should be doing. The biggest issue with this bookfor some readers is its intimidating size. At approximately 400 pages, it canfeel like a lot to get through.

Readers will appreciate the real-life anecdotes and examples, as well as her easy-to-grasp writing style.

The Simple Path to Wealth

Written by JL Collins, this book was penned with a veryimportant person in mind – his daughter. It’s the solid advice a father shouldgive to his child, whether that’s when they are just starting their career oreven years after they’ve been on their own.

Some of the lessons, such as the one on avoiding debt, won’tapply to people who already know quite a bit about managing their finances. Butother ones, such as asset allocation, whether you should use an investmentadvisor, and reaching financial independence, are lessons most people canbenefit from.

But since the author was trying to reach his daughter with these words, the writing isn’t stodgy – it’s fun and compelling. This is a comprehensive financial guide that will help beginners find financial independence – if they stick with the advice they find in these pages.

For more advanced financial planners, the advice will seem a bit basic, and not involved enough.

Those edging closer to their retirement years won’t find as much relating to pending retirement, but for beginners and those who have struggled with debt in their lives, it’s a good pick.

How to Retire Happy, Wild, and Free

As the name implies, this book by Ernie J. Zelinski doesn’tjust focus on money. It looks at the overall picture of retirement, includingthe activities you do, the friends you have, and your physical and mentalhealth. It’s more for people who are less worried about the financial aspectsof retirement and more concerned with the emotional and social aspects.

Those who are 40 years old and older may find particularinspiration in it. While many books caution against retiring with less thanseven figures, particularly if the retirement is an early one, this bookrecommends early retirement whenever possible.

But if you’re looking for a book that offers you solidfinancial footing, this one isn’t it. You may want to brush up on your financesin another book and read this one to figure out ideas for how to fill yourretirement years if you don’t already know.

The 5 Years Before You Retire

This book by Emily Guy Birken is geared toward those who are within five years of retirement. If you’ve done a lot of financial planning during your career, these will likely be things you’ve already considered.

For those less experienced with managing their retirement finances, it will be a guidebook that will take them through the big medical and money decisions they have to make.

This book can help soon-to-be retirees make a final push to ensure their savings will be adequate for retirement, but the information is quite basic so it’s best suited for beginners. Those who are intimidated by the financial world and just want some common-sense advice for their golden years will appreciate this book’s straightforward style.

The Bogleheads’ Guide to Retirement Planning

This retirement planning book, by Taylor Larimore, Mel Lindauer, Richard A. Ferri, and Laura F. Dogu, is heavy on the financial advice and a plain spoken style that everyone can appreciate.

You’ll learn about the different types of retirementvehicles you can park your money in and withdrawal strategies that may helpyour money outlast you.

Since it is a bit dry in some areas, beginners might find themselves unable to get through all 400 pages. This is more suited for the intermediate level readers.

The information is comprehensive and practical. This is a great guidebook for those investors comfortable managing their finances.

J.K. Lasser’s New Rules for Estate, Retirement, and Tax Planning

If preserving your wealth for the next generation is a keyconsideration for you, this book by Stewart H. Welch III and J. Winston Busbymight be of interest to you.

There is good news and bad news when it comes to this book. The bad news is this book can be a bit dry. It will be a hard read, even for those interested in finance.

The good news is that the information in the book is top notch and recently updated. The best way to approach this book is as a resource to be utilized when researching specific topics.

You’ll learn about current tax codes and how they affect your money. You’ll also get an education in estate planning, wills, and asset protection.

This book because of how deeply it delves into topics andbecause of how difficult it can be to read is not at all for beginners. This isexpert level material or for people with more than just a passing interest inbeing hands-on with their finances.

This updated version of Laurence J. Kotlikoff’s book demystifies the complicated labyrinth of Social Security benefits. As one of the most important revenue streams you’ll have in retirement, it pays to maximize your benefits.

Unfortunately, there are thousands of rules in the Social Security system, which makes it completely un-accessible for most people.

This book shines at breaking down those rules so you can maximize the money you are owed. Keep in mind some topics may or may not apply to your personal situation.

Beginners might have a hard time sifting through this book for nuggets that apply to their situation. But, if you can find some valuable tips that will maximize your Social Security money for life – that can be a powerful incentive to learn about such a challenging system.