The Value of Debt in Retirement: Why Everything You Have Been Told Is Wrong, by Thomas J. Anderson
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The Value of Debt in Retirement: Why Everything You Have Been Told Is Wrong, by Thomas J. Anderson
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Increase the odds you won't run out of money in retirement using debt! Conventional wisdom is wrong and being debt free in retirement may actually increase your risk. The Value of Debt in Retirement teaches you how incorporating debt into your retirement strategy may increase your return, lower your taxes and actually lower your risk. You read that right. If handled correctly, debt that thing we've all been taught to avoid can play an integral role in your life,especially in retirement. New York Times Best Selling Author and nationally acclaimed financial expert Tom Anderson shows you how to use the time tested strategies of the best companies and the ultra rich to retire comfortably, minimize taxes, buy the things you have always wanted to have and do the things you have always wanted to do. Thought provoking and against the grain, Anderson explains why your risk tolerance doesn't matter, why being debt free may actually increase your risk and why rushing to pay off your mortgage may be a financial disaster. Full of shocking revelations and tricks high- net-worth individuals have used for years, The Value of Debt in Retirement opens the world to a new approach to wealth management in retirement, one that factors in both sides of the balance sheet as an integrated ecosystem. Real-world case studies illustrate how informed debt strategies can lead to a happier, healthier retirement. See how an individual with a net worth of more than $5 million can spend $20,000 per month - after taxes - and pay less than $5,000 per year in taxes,how it is possible to increase your rate of return by 50%, and how a lower risk portfolio with debt could increase the chances you do not run out of money. Specifically written to Baby Boomers, practical guides and checklists show how to use debt strategies to fund primary and secondary properties, refinance credit card debt, and finance hobbies, such as cars and boats and recreational vehicles. Additional guides show how you can help your children, help your parents and leave a bigger legacy for your heirs and favorite charities. Regardless of your net worth, The Value of Debt in Retirement provides tools to use to apply these concepts to your personal situation. There is no free lunch: the book delivers a balanced perspective focusing on the potential risks and benefits of the strategies discussed. A discussion on economic history highlights some of the shocks the economy may face and provides important warnings that you should factor into your retirement plan. Anderson not only shows that your life expectancy may be longer than you think, but also illustrates that many investors may be on track to average returns well under 4% for the next ten years a potentially devastating combination. Irrespective of your beliefs about debt, The Value of Debt in Retirement proves risk is more important than return for retirees and provides suggestions on ways to minimize that risk. Not all debt is good and high levels of debt are bad. TheValue of Debt in Retirement is about choosing the right debt,in the right amounts, at the right time. Perhaps most importantly,this book isn't for everybody. This book requires responsible actions. If you can't handle the responsibility associated with the ideas then this book then it isn't for you. If you need a rate of return under 3% from your investments then you may not need this book. But if you can handle the responsibility and if you need a return above 3%, this book may offer insights into the best (and potentially only) way to achieve your goals.
The Value of Debt in Retirement: Why Everything You Have Been Told Is Wrong, by Thomas J. Anderson- Amazon Sales Rank: #190057 in Books
- Brand: Anderson, Thomas J.
- Published on: 2015-03-16
- Original language: English
- Number of items: 1
- Dimensions: 9.30" h x 1.20" w x 6.30" l, .0 pounds
- Binding: Hardcover
- 336 pages
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Most helpful customer reviews
8 of 9 people found the following review helpful. Anderson does it again! If you're heading toward reitrement, you can't afford to miss this book. By Jordan Gruber This book takes the lessons from the bestselling first volume in this series, The Value of Debt, and focuses specifically on the value of debt in retirement. Many financial advice gurus, like Dave Ramsey and Suze Orman, claim that *everyone* should have retiring *debt free* as their first and biggest priority, but Tom Anderson shows just how limited -- even foolish -- this advice can be for many people. Anderson also debuts a blow-your-socks-off hybrid retirement model that will let people retire and pay amazingly low taxes, but only if they have properly prepared along the way, which means having put enough money into *taxable* accounts (not just 401(k)s and IRAs) along the way. Once again, Anderson asks a great question: if less than a handful of companies in the U.S. have zero debt, including thousands that could afford to pay off all their debts, why is that so? The answer is simple: debt, in many ways, makes your financial situation -- your personal financial eco-system -- stronger, as it provides you with increased liquidity, increased flexibility, and an increased ability to survive an emergency. So, yes, of course, nobody wants to have *too much* debt, and you can't let your debt-to-assets ratio get out of hand, but on the other hand, not taking advantage of what debt has to offer just because these other authors are screaming "all debt is evil, all debt is wrong," can be a huge mistake.
6 of 7 people found the following review helpful. A "must read" for advisors and anyone concerned about their retirement By Christopher K. Merker As a long time financial advisor in the business, I was excited to see this second edition come out. The Value of Debt and the Value of Debt in Retirement offer important concepts that I apply in my everyday work. So little is understood in our business today on maximizing both sides of the balance sheets for our clients. This book clearly addresses this gap, and is a "must read" not only for advisors but for anyone who is concerned about securing their financial future now and through retirement. Tom Anderson has given us a clear guidebook on understanding and applying these concepts on prudent uses of debt and its many forms, while taking on a number of misconceptions that do more harm than good for people. This is a welcome shift in the discussion from "let's talk about your assets and your nest egg" to "how are you effectively managing your total financial picture". Bravo!
5 of 6 people found the following review helpful. A very useful way to think about managing your finances By Doug Miller Excellent, excellent book. I am getting reasonably close to retirement, and read some kind of article about managing finances in retirement just about every day. But many of the ideas in this book were completely new to me. I also read Mr. Anderson's first book (The Value of Debt), which compares the way a company's CFO manages the companies financing through the strategic use of debt to the way that responsible people with some assets might consider managing their own finances.This book applies those principles to the specifics of retirement. This book certainly isn't for everyone, and is not intended to be a do it yourself guide. I wish I had thought about some of these ideas earlier in life. Here's one example: an interest only mortgage. My thought (prior to reading this book) was that an interest only mortgage was for reckless folks who wanted to live in a house they couldn't afford. But, after thinking it through a bit, I could see it would have been a pretty good idea for buying a house you could afford, while having the discipline to put the remainder of what would have been a normal amortized loan payment into an investment account. This would have given greater liquidity, flexibility and options if you happened to come under financial distress. (For example, if you lost your job, you could just make the interest payment and could even dig into the investment account if needed). In addition, your overall returns would have been better. Instead of having increasing amounts of capital tied up in a house, that money could be invested in stocks, bonds, etc, likely to make better returns than the house. But, of course, if the house went up in value, you would benefit from that also. (There is a risk of rising interest rates, of course. I think 10 yrs fixed in the max you can get on an interest only loan). Anyway, this is a small sample of the type of thinking in the book. The author is not necessarily suggesting you do this, but rather that you think about it to see if it makes sense to you. The end of every chapter admonishes the reader to seek professional financial advice.
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