by James H. Bishopp
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| List Price: | $14.95 |
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Product Description
A Lesson Plan in Retirement was written to give teachers, and all those participating in their states retirement plan, a solid and easy to read manual for understanding and planning for their own retirement.
We discuss the four most common retirement accounts used by teachers today. They include the 403(b) of TSA, the 457 Deferred Compensation account, the Traditional IRA and the Roth IRA. We discuss the benefits, advantages and limitations of each of these types of accounts. We also discuss State Retirement systems and Social Security giving you a solid understanding of each potential source of retirement income.
A Lesson Plan in Retirement discusses some basics on investing including some useful strategies and concepts. These include Dollar Cost Averaging and asset allocation Time Value of Money and others. Don't be fooled though, this is not another book on investing, it is very specific in covering the issues facing teachers today.
Finally we give you a format to put it all together. If you are a do it yourself type you can create a basic retirement plan on your own. If you prefer to delegate the work to a financial planner the putting it all together will create a wonderful starting point for your relationship with your advisor. The book provides helpful tips on creating a retirement budget then compares that to your anticipated sourcs of income. Finally, you can determine just how much you will need to save to meet your retirement goals.
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Average Customer Review:
2 of 2 people found the following review helpful:
every home needs this book, 2007-11-06
James H. Bishopp was disturbed by the fact that it was difficult to find help for the retiring public. To combat his frustration he formed his own financial service and he's written a book; A Lesson Plan In Retirement.
Aimed mainly at the vast pool of government employees (including teachers, professors, public safety and State workers) across the country, this book is the best collective source of information that I've ever seen. Anyone planning to live long enough to retire, need to read this book and begin planning now, no matter what age you are.
Mr. Bishopp addresses every aspect of savings and income growth as well as pension options, stock and bond purchases, deferred savings plans, and social security options. You may not think you need this information now, but remember that it takes time to sort out all the ins and outs, and to accumulate the funds and assets that you will need to live comfortably.
Yes, this book could be called a "dry" read, but one that I found interesting, helpful, and full of important information. Every home should have one.
Review by Wanda C. Keesey (author of Lost In The Mist, release date May, 2008)
4 of 4 people found the following review helpful:
An excellent place to start your retirement planning, in no way a complete guide, 2007-05-20
I disagree with the title of the book, and as a matter of fact, the author does as well. There is no way such a thin book could ever come close to being a complete guide to retirement for any profession, much less all of the types listed in the title. A comment typical of that made by the author appears on page 88. "Find a financial advisor who has experience working with people like you."
That being said, this book is an excellent primer for people who are just beginning the process of planning for retirement. Bishopp gives a basic and sound overview of nearly all of the retirement fund options available for people in these professions. The complexity of the plans is overwhelming, it seems that every time an additional option for retirement planning is added, the level of complexity doubles. Moving funds from one account to another also seems to get more difficult with each passing fiscal year.
If you are in one of the professions listed in the title and are in the early stages of planning for your retirement, then this book is an excellent place to begin. However, it is only a starting point, so if you are beyond that, you will most likely find it of little value.
Price is accurate as of the date/time indicated. Prices and product availability are subject to change. Any price displayed on the Amazon website at the time of purchase will govern the sale of this product.
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