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Cash-Rich Retirement: Use the Investing Techniques of the Mega-Wealthy to Secure Your Retirement Future
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| List Price: | $24.95 |
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Product Description
Invest your money like a millionaire and get sound and secure returns.
Cash-Rich Retirement, as seen on the public television series Retirement Revolution, brings the investing strategies of the mega-rich to everyday people. It breaks with conventional advice that tells the public to invest mightily in stocks, flip holdings, and seek capital gains. Hogwash! says private banker and investment advisor Jim Schlagheck. Forget speculative “gains”! Invest instead for prudent income. Save. Build a “life-cycle” annuity package for lifetime retirement income. Focus on dividend-, interest-, and rent-producing investments and insurance.
Cash-Rich Retirement is provocative and practical. Schlagheck makes private-banking investment strategies available to any investor. His income and annuity strategies are unique. He also puts retirement within reach of today’s average American with six straight-shooting, show-me-the-money steps:
- Change your “automatic pilot.”
- Diversify your holdings in radically different ways.
- Build out your investment plan with funds and objective research.
- Get all the professional help you can.
- Build income streams with a ladder of annuities.
- Invest in long-term health care insurance.
Product Details
- Amazon Sales Rank: #801015 in Books
- Published on: 2008-03-04
- Released on: 2008-03-04
- Original language: English
- Number of items: 1
- Binding: Hardcover
- 288 pages
Features
- ISBN13: 9780312377403
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
- Click here to view our Condition Guide and Shipping Prices
Editorial Reviews
From the Back Cover
Concerned about your retirement savings? You should be! But you can capitalize on today’s market turmoil and enjoy a sound and secure financial future.
Cash-Rich Retirement is the book seen on public television that explains a new, less speculative, and proven strategy to help you.
Jim Schlagheck is a private banker and investment advisor to the mega-wealthy, and the coproducer of Retirement Revolution, a public television series on better retirement preparedness. He has held senior wealth management positions with some of the world’s leading financial institutions.
In this book, Schlagheck foresees increasing financial turbulence. Pension underfunding, boomer demographics, and America’s “flip” investment psychology are sure to cause financial distress. He explains ways of offsetting these threats and how anyone can employ the success strategies of the super-rich.
Cash-Rich Retirement is provocative and practical. Schlagheck’s income and ladder-of-annuity strategies are unique. He explains the full range of the country’s most recent and most-needed financial products:
- Annuities and ways to give yourself lifetime income.
- Mutual funds, ETFs, and “fundamental” indexes.
- Investments that gain more in “up” markets and lose less when markets come down.
- Reverse mortgages.
- Health insurance.
You can enjoy a sound and secure future---just like the world’s financial elite. Whether you’re already retired, many years away from retirement, or a financial professional, Cash-Rich Retirement will help you successfully protect and enlarge your retirement capital.
About the Author
JIM SCHLAGHECK is an author, banker, longtime advisor to the ultrawealthy, and the coproducer of the public television series Retirement Revolution. He has written numerous articles on investing, retirement, and finance, and is also an acclaimed speaker, who describes better ways for retirement readiness to audiences of wealth management professionals and lay investors nationwide.
Excerpt. © Reprinted by permission. All rights reserved.
This book is going to help you. It’s going to cut through the confusing investment jargon and conflicting investment advice. It’s going to help you choose among today’s bewildering number of investment alternatives and—yes!—help you successfully achieve all the retirement income you’ll need. It’s going to help you weather a severe storm. And, count on it. An extremely severe financial storm is setting in.
At present, one of six Americans over the age of sixty-five is living in or near poverty. In twenty years, one out of four Americans over sixty-five will live in or near poverty because of gross ill-preparedness for retirement. You, however, are going to be one of the survivors coming out of the storm unscathed. This book is going to help you.
This book is a guide to help you build, enlarge, and protect your retirement wealth. Whatever your income bracket. Whatever your savings to date. This book is going to help you invest more skillfully and successfully build income for retirement.
In their publications about death and grieving, authors Elisabeth Kübler-Ross and David Kessler found that when people are told they have an incurable disease, they typically go through several distinct reaction phases. They demonstrate in succession (1) denial, (2) anger, (3) bargaining, (4) depression, and then (5) acceptance. I find that most people react to the notion of retirement in much the same way. In fact, most Americans are still in a denial phase. Most refuse to look at the hard retirement issues confronting them. Most refuse to realistically prepare for retirement or even acknowledge that their savings “opportunity clock” is ticking away.
For many people, retirement denial takes the form of spending whatever they have (and often more than they have), saving nothing whatsoever for the future. Buy another flat-screen TV! Buy that Lexus SUV! Buy! Buy! Buy! Because if you’re never going to become a multimillionaire, at least you can live like one! So buy something Armani and watch reruns of Lifestyles of the Rich and Famous. Spend! Spend! Spend!
For others, denial hides in the creed that people should look forward to retirement with an emphasis on spiritual growth and fulfillment, not monetary obsession.
I agree. We should, indeed, champion the nonmonetary dimensions of our lives and look forward to retirement as an exciting phase when we can share our experiences and wisdom with others, give back to our communities, and enjoy and add to the warmth of our families and friends.
But I believe that having adequate funds for retirement is critically important, too. I believe that—more than ever before in the brief history of American “retirement”—you have much greater responsibility to prepare financially for the future.
So as much as I recognize the importance of the nonfinancial aspects of retirement, I foremost of all want you to be able to afford retirement and health care. I want you to enjoy the next phases of your life with bread on your table and the latest miracle drugs on your nightstand. I want you to have the financial strength and wherewithal to retire.
That means saving and investing right now without any more denial or excuses.
Most people are massively in “retirement denial.” You, however, are not. That’s why you’re reading this book.
Once past the denial phase, many people move into anger. They express rage when they realize that they have not saved enough for the future. “I only have two years to go before my company pushes me out,” one man told me bitterly, “and I’m furious with myself for not having saved more. I can’t retire. I don’t have enough savings. What am I going to do?”
More and more people are becoming angry as they wake up to the reality that traditional pension plans are collapsing and that their personal savings are nonexistent or pathetically low. They are angry because they have not invested wisely—or, in fact, not saved or invested at all. They are mad as hell as they take inventory of their predicament. They thought the government and their employers were going to take care of all their retirement needs. But guess what? That isn’t going to happen. Get used to it.
Next are the people who want to bargain their way into a financially secure retirement. We are sure to see more employee groups and unions clamoring for better retirement benefits—even though many companies today can ill afford the long-term benefits they are already meant to pay. Nevertheless, many Americans will increasingly turn to unions, lobbyists, and their congressmen to bargain for better “entitlements” and benefits. But whoa there! Handing out more benefits just isn’t going to happen magically or without cost. Get used to that, too.
And then comes retirement depression (as in “We give up! We’re moving to Belize!”) and acceptance (“So I’m going to keep right on working till I’m ninety—who cares?”).
I’m here to help you translate whatever denial, anger, bargaining fever, or depression you may be experiencing into constructive action. I want to help you be one of the Americans who can and will retire securely and comfortably.
This book will help you. It will cause you to significantly change the way you invest and to get even more serious—deadly serious—about your retirement preparedness.
This book is a practical guide and a call to arms! It is a call to arms for a new, income-focused way of investing for retirement. It is a call to get back to fundamentals and common sense when you invest. And it is a call for you to take action to defend your retirement from the turmoil ahead.
Trouble Ahead
Here are the sad facts. Most Americans are woefully ill-prepared for their “golden years.” Mired in debt at home and in government, we are not saving for the future. Our pension systems are failing. Corporate retirement benefits are perilously underfunded. A “do-it-yourself” approach to retirement investing is not working. Millions of Americans do not participate in a 401(k) or any other retirement savings plan. Traditional wisdom about how to invest is often speculative and lacking in vision. Herd moves from one speculative bubble (such as technology stocks) to the next (such as real estate) happen again and again. And U.S. demographics portend a shock wave just ahead as a great surge of baby boomers gets ready to retire en masse and sell off assets.
The truth is that a great number of Americans will not be able to stop working. For many, retirement is an experiment gone sour. Many will never receive the full measure of retirement benefits on which they are counting. Many others—without adequate savings and retirement income of any kind—will simply never be able to retire.
So I see trouble ahead. Serious trouble.
This book is a wake-up call. It tells you how, after all, you will be able to retire with all the capital you need. And it gives you investment strategies that you can confidently implement—strategies based on extensive research and proven wealth-management expertise to sidestep the damage that may result from demographic changes.
My Experience Will Help You
Customer Reviews
Good Book, Good Advice
I recently took early retirement and have checked out several books looking for help to make my income last. This is the best of the lot. It helped me understand ways of shielding my investments from "performance whiplash". It also gives straightforward advice about new funds, indexes, health insurance, annuities and even reverse mortgages. Whether you are already retired, thinking of retirement, decades away from retirement or somewhere in between, this book will help you. I give it high marks for good advice, good tools, and a clear action plan for stronger finances. Best of all, it is easy to read and understand.
Tough talk
Finally a book on retirement that stands out based both on content and on style. It is a little like Dad is taking you out to the woodshed to teach you a lesson about retirement planning. He is spot on in putting responsibility back squarely in the lap of each of us for our retirement health. His investment strategies make sense and are obviously founded on a great deal of experience and research.
This is a book that compasionate companies everywhere should buy for their employees offering at least some atonement for the pensions that they have shrunk or eliminated.
Buy This Book!!!
No matter what age you are, preparing for retirement or being retired (i.e. living off of your resources) we all wonder if we are making the right decisions. Jim has done extensive research on the subject and reports his results in a very easy to understand book. It will serve as a great resource to help you achieve your objectives.
