By Carrie Schwab-Pomerantz
Who is Carrie Schwab-Pomerantz: Carrie Schwab-Pomerantz is president of the Charles Schwab Foundation and senior vice president at Charles Schwab. She has served as an advisor to Presidents Obama and Bush in the area of financial literacy, speaks and writes about personal finance issues and writes a weekly syndicated column on personal finance, Ask Carrie.
Amava Take: This is a comprehensive guide to the financial side of retirement. Schwab-Pomerantz makes complex material accessible without over-simplifying or talking down to her readers. There are chapters on just about every topic imaginable and answers to common questions on things like retirement accounts, life insurance, long-term care, social security, Medicare and estate planning. The book if filled with helpful tips as well as next steps for each topic. Although the author is affiliated with Schwab, she remains neutral and does not pitch her own company. Overall, an excellent book for anyone already retired or planning to retire anytime in the next decade or two. (One caveat: certain advice is not up to date as the book was written before the Tax Cuts and Jobs Act of 2017).
Memorable Line: “Many retirees are including some type of work in their retirement plans for extra income as well as social interaction and a sense of purpose.”
What We’d Tell Our Friends: There are a ton of books on this subject, but this one stands out among the pack. Reading this book is like getting answers to your questions from a trusted friend who is also a financial expert. You almost feel like you are sitting across from the author and she is answering your questions. We suggest you read the first section on recommendations for every age, then skip to the sections that are relevant to you. You will almost certainly feel more competent and empowered to make financial decisions about your retirement.