The best retirement planning books to buy in 2022

A man reads a book on retirement planning.  SmartAsset put together a roundup of the best retirement planning books to read in 2022.

A man reads a book on retirement planning. SmartAsset put together a roundup of the best retirement planning books to read in 2022.

We live in the golden age of information. The proliferation of smartphones and Wi-Fi has meant that the answer to seemingly any financial question is right at your fingertips. While the Internet provides endless opportunities to increase financial education, books remain one of the most trusted resources for personal financial education (although, of course, you can choose to read the books on the electronic device of your choice).

There are books on just about every angle of personal finance, from budgeting to to invest in stocks and real estate. When it comes to Retirement financial planning, much can be learned by reading a book that focuses specifically on this vital element of financial planning. With that in mind, here’s a roundup of the best 2022 retirement planning books to help you set and achieve your retirement goals.

A financial advisor can help you estimate your expenses in retirement, plan for medical expenses and decide when to claim Social Security. Find a trusted advisor today.

“Retirement Planning Guide” by Wade D. Pfau

Readers seeking an in-depth and comprehensive look at retirement planning may want to consider the work of Wade D. Pfau, a chartered financial analyst and leading retirement researcher. In addition to his work as director of retirement research for MacLean Asset Management and inStream, Pfau is a professor of retirement income at The American College of Financial Services and publishes his research regularly on, a website he founded. .

Pfau’s most recent book, “Retirement Planning Guide: Navigating Decisions Important to Retirement Success,” offers a comprehensive and comprehensive look at the complex and multifaceted world of retirement planning. This 476-page guide is intended to help you identify your retirement income needs, understand various investment and insurance options, navigate Social Securityas well as manage your long term care risks and medical needs. Elliot Raphaelson, a syndicated finance columnist, called Pfau’s book “the most comprehensive and best-written guide to personal finance ever published.”

“The Total Money Makeover” by Dave Ramsey

Written by nationally syndicated radio host Dave Ramsey, “The Total Money Makeover” outlines seven practical steps to take to achieve financial security. Ramsey’s “seven baby steps,” beginning with creating a $1,000 emergency start-up fund and debt snowball strategy to pay off debt, eventually escalating to investing 15% of your income for retirement and paying off your house early.

The lessons in this book can be especially helpful for people who haven’t started saving for retirement because of debt. With over 5 million copies sold, The “Total Money Makeover” is a New York Times and Amazon bestseller.

“How to Make Your Money Last” by Jane Bryant Quinn

“How to Make Your Money Last: The Indispensable Retirement Guide” by Jane Bryant Quinn is a convenient guide for retirees who are concerned about stretching their savings during their golden years.

Quinn, financial journalist and bestselling author, explores strategies to increase your savings, increase your Social Security benefits, use your home to produce income, take advantage of life insurance policies for income and more. While more than an introduction to personal finance, “How to Make Your Money Last” offers simple tips on planning for retirement and the many options available to retirees and retirement planners.

“How much money do I need to retire?” By Todd Tresidder

In the introduction to “How Much Money Do I Need to Retire?: Unusual Financial Planning Wisdom for a Stress-Free Retirement,” author Todd Tresidder reminds readers that knowing how much money you need is the “essential foundation on which you stand.” all other aspects of retirement. planning is built. With that as the central focus of his book, Tressider proceeds to guide the reader through the vital questions to ask yourself when planning for retirement, how to accurately estimate investment returns, and how to identify your “magic” number. of retirement.

Tressider, a former hedge fund manager who retired at age 35, also discusses the importance of passive income and provides practical tips for retirement planning.

“The Ultimate Retirement Guide for Over 50s” by Suze Orman

Published in 2020, “The Ultimate Guide to Retirement for Over-50s: Winning Strategies to Make Your Money Last a Lifetime” is the newest book from personal finance guru Suze Orman. This book is written specifically for people age 50 and older who need help “arranging all the pieces of your retirement puzzle and then putting them together into a cohesive plan.”

Orman tackles a different piece of the puzzle in each chapter, from building a reliable income stream that will last 25-30 years to the importance of wills and trusts. Orman’s readers celebrate his enthusiasm for personal finance, as well as his straightforward, straightforward advice.

The bottom line

Reading is a pillar of financial education.  SmartAsset put together a roundup of the best retirement planning books to read in 2022.

Reading is a pillar of financial education. SmartAsset put together a roundup of the best retirement planning books to read in 2022.

Education is the cornerstone of financial literacy, and personal finance books are a powerful tool for improving your financial acumen. There is a plethora of books devoted specifically to retirement planning. While some seek to serve as comprehensive guides to retirement planning, others focus exclusively on wealth accumulation or wealth protection. Deciding which book is right for you probably depends on your existing knowledge base and what you hope to learn.

Retirement Planning Tips

  • While books and learning are vital to improving your financial education, a financial advisor can help you put your plan into action. Finding a qualified financial advisor doesn’t have to be difficult. Free SmartAsset Tool connects you with up to three financial advisors in your area, and you can interview their advisors at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you reach your financial goals, start now.

  • Whether you’re four years or four decades away from retirement, it’s important to have an idea of ​​where you are in the progress you’re making toward a savings goal. SmartAsset Retirement Calculator can help you estimate how much you’ll have saved by the time you’re ready to retire.

  • While most people focus a lot on how much they can save for retirement, not everyone knows how much they’ll really need. To estimate how much you can reliably spend in retirement, Fidelity says your investments should cover 45% of your pre-retirement income with Social Security benefits (assuming you apply at age 67) making up the rest.

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The charge The best retirement planning books to buy in 2022 first appeared in Smart Asset Blog.

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