How to Retire by Christine Benz

HOW TO RETIRE by Christine Benz offers “20 lessons for a happy, successful, and wealthy retirement.” The text is overflowing with ideas and suggestions compiled by Benz who is the director of personal finance and retirement planning for Morningstar. For each “lesson” topic (e.g. Lifestyle, Social Security, Spending Plan), she interviews an expert and then summarizes the discussion with her key takeaways and a list of related resources. The topics are varied and reflect the complexity of the retirement transition; experts do not always agree and there is a lot of “it depends,” but that makes sense give the range of personal situations. Other lessons focus on topics like Housing, Adaptability, Healthcare, Taxes, issues for Women, and creating an Estate Plan. And, Benz has developed a companion podcast hosted on the Morningstar site which certainly merits attention. There are so many books on this subject, of course, but Benz’ compilation has consistently been in the top ten of Amazon’s list of Best Sellers in Retirement Planning and was chosen as the first selection for the newly revived Color of Money Book Club coordinated by the Washington Post’s Michelle Singletary. Readers may also enjoy the monthly (or so) perspective on being retired written by Stephen and Karen Kreider Yoder. HOW TO RETIRE is an extremely useful resource both for those planning retirement and those just beginning that adventure. I took copious notes … and agree with the Foreword where Jonathan Clements writes, “There are no wrong choices here, except choosing not to choose and instead drifting through retirement, with scant thought to how you'll make the most of your time and how you'll ensure that you’re financially okay up until the end. … First, read the pages ahead with pen in hand … Second, view retirement not as a done deal, but as a long period of trial and error. … you're going to be making it up as you go -- and that's a big part of the fun.”