The 7 Best Retirement Planning Books For 2022

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Wooden bookshelf with dozens of cubies housing hundreds of books
I’m guessing you don’t want to read all these books to prepare for retirement? The good news is you don’t have to. Our experts bring you their top 10.

Having a successful career is a dream for many. Everyone wants to retrospect with a grin over their accomplishments throughout their careers. But one thing that should not escape your mind when you are still working is that retirement is inevitable.

You’re going to be best off if you take the time to plan for your retirement from an early stage in your career. But how do you know what is required to prepare for your retirement? These books will provide insights into much of what you need to know to be able to retire in comfort and with peace of mind.

1. “The Smartest Retirement Book You’ll Ever Read” by Daniel R. Solin

Book Cover of 'The Smartest Retirement Book You Will Ever Read' by Daniel R Solin.

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This is one of the best retirement planning books you need to add to your home library. It enlightens readers on how to get the most out of retirement, avoid mistakes, make money, and pitfalls. If you are interested in investing, this is the book for you. You will turn into a confident investor. 

Also, you get to understand the secrets to a fruitful retirement despite any economic circumstances. Below are seven of the major takeaways from the book:

  1. Endeavor to increase your retirement money
  2. Avoid annuities
  3. Push off your retirement as much as you can
  4. Steer clear of scams
  5. Avoid investing in reverse mortgages
  6. Consider an insurance plan for the long haul; one that will cover medical expenses after retirement.
  7. Consider going for index funds because they have lower costs and taxes, and you manage them passively.

Solin argues that you will lose your money if you do not invest due to inflation. Therefore, inflation will negatively impact your savings. It may seem like common knowledge, but that is not the case.

The book advises you to have two pools of money: the first portion should be for saving, such as in a savings account, while the other part should go into investments that yield returns. Also, the book touches on pension, social security, care costs, etc. In a nutshell, the book tries to communicate that the less money you use, the more you will have on retirement. 

2. “How Much Do I Need to Retire?” by Todd Tresidder

Book cover of 'How Much Money Do I Need To Retire' by Todd Tresidder.

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This is the second edition of Todd Tresidder’s retirement planning book, bringing a new outlook to the old assumptions of how much you need to retire. It also looks at some retirement-planning models people have been practicing for years. 

Tresidder takes a step away from the conventional content about retirement. He explains three models you can follow for the best results: cash flow, asset-based, and lifestyle. Some of the critical points in the book are:

  • Why do conventional retirement planning models fail for most people and the assumptions they make
  • Shortcomings of Monte Carlo simulations that most financial planners use
  • The three models that everyone needs for a better retirement
  • The disparity between personal inflation rate and national inflation rate and their importance in retirement planning
  • Why your horizon might not be long-term as most financial planners claim

You will have valuable insights from this book if you value your retirement. It will allow you to take a step back and rethink some common strategies advised to you to pursue over the years. Finally, you will have a clear view of your options and settle for the best. 

3. “You Can Retire Sooner Than You Think” by Wes Moss

Book cover of 'You can retire sooner than you think' by Wes Moss.

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Before writing this book, Wes Moss surveyed a group of retirees. One of the crucial areas he touched on was their happiness after retiring. The book compares and contrasts those who are happy with those that are not. According to Moss, satisfaction in your retirement years boils down to these main elements:

  • Savings
  • Purpose
  • Mortgage
  • Income investing 
  • Income

Moss explains what you can do to have early financial independence. Furthermore, he explains early retirement and how to remain contented. If you heed the advice in the book, you are in an excellent position to achieve early retirement. 

The book also details the practices that ensure a retirement that will not be rickety. The practices include:

  • Determining the need for the retirement savings
  • Becoming an investor
  • Developing multiple income streams
  • Clearing off the mortgage in five years
  • Knowing the amount of money you want to save

4. “How to Retire with Enough Money: And How to Know What Is Enough” by Teresa Ghilarducci

Book Cover of 'How To Retire With Enough Money' by Teresa Ghilarducci.

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Teresa Ghilarducci is a retirement and savings advisor, and her book “How to Retire with Enough Money” is fascinating, especially if you like reading as a hobby. It teaches about the amount of money you need to have before retiring. 

In the book, Ghilarducci notes that most Americans don’t save enough money before retiring. Well, this is a very vivid fact! This means that these individuals spend their retirement years living in poverty. 

In the book, you will get sound advice and an elaborate plan for future savings. This will, of course, warrant discipline and high planning levels. Below are some of the main points in the book:

  • Try to invest your money in low-cost and low-risk venture
  • Limit your expenses and don’t spend money on unnecessary things
  • Ensure you keep a minimum of 70% of pre-retirement money during retirement
  • Teach yourself how to manage money without the need for a planner
  • Pragmatic ideas on how you can actualize the above

5. “How to Make Your Money Last: The Indispensable Retirement Guide” by Jane Quinn

Book Cover of 'How To Make Your Money Last' by Jane Quinn.

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It is uncommon for young people to think about what will happen in retirement. This is usually thrown in the furthest ends of the mind. You will start worrying about what you will do in retirement. It will be best to put the thought into your mind before age 65. 

Quinn elaborates that you will need to answer the following questions if you want a good life after retirement:

  • What will be your standard of living?
  • How can your money last?
  • Do you need to continue working to live decently?

Quinn goes further to elaborate on the stages of retirement. Also, she goes on to have sections according to your marital status. She explains your needs if you are married, remarried, single, or lost your lover. 

She digs deep into retirement plans, pension, social security, housing, savings, and health costs. The aim is to make you reap the most benefits from your money and have a fulfilled retirement. 

Quinn further explains that you will have lesser money for your retirement when you decide to go for safer investments. She says you might end up living a third of your life as a retiree and advises readers to invest in growth. You should invest in businesses that generate income as you still work to overcome inflation. 

6. “The New Rules of Retirement” by Robert C. Carlson

Book cover of 'The new rules of retirement' By Robert Carlson.

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This book by Robert Carlson throws out typical retirement ideas. It provides a guide to today’s successful retirement. Carlson applies independent objective research to develop viable and profitable techniques that result in financial independence. 

In this read, you will learn: how to save for retirement, invest, and come up with a spending approach that is sustainable and prudent. Also, he explains overcoming threats to financial security, including taxes, lower returns on investment, high life expectancy, and more. 

Notably, he touches on the wildcards of retirement, such as care expenses and health care. The book further goes through IRA, annuities, management, income taxes, and estate planning. You will understand how much the areas mentioned in your financial security plan are and how you can cater to your family in years to come.

Retiring does not mean you will no longer be useful. Many retired individuals are starting businesses, getting into hobbies, getting new skills, attending lessons, and more. Some of the key takeaways in the book are:

  • Understand and overcome the hurdles to your financial security
  • Have a sustainable spending habit
  • Invest your nest egg
  • Leave behind a legacy 
  • Know the proper means of estimating retirement spending
  • Have a long-term health care plan

Your retirement can be another phase of your life where you live healthily and happily. To achieve this, you should know that traditional retirement models may not suffice in today’s dynamic world. And what better way to get proven strategies than by reading “The New Rules of Retirement.”

Grow Your Portfolio After Retirement

Did you know that only three in 10 Americans have worked out a long-term financial strategy that includes investment and savings goals? The same poll finds that people who make at least $75,000 annually are most likely to budget. When you consider that a 65-year-old can live–on average–another 19 to 21.5 years, you can grasp the importance of taking personal finance seriously. No one wants to run out of money. But poor planning can do that to you. Learn to grow your investments post-retirement, not shrink them, with our hand-picked top 10 investment must-reads.

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