Engineering Your Retirement
Retirement Planning for Technology Professionals
Published on 4. January 2007
228 pages
978-0-470-11246-5 (ISBN)
Description
A practical retirement planning resource for engineers, scientists,and mathematicians
In 1995, Dr. Mike Golio, an electrical engineer, became seriouslyinterested in planning for early retirement. In 2003, at the age of49, he and his wife achieved their goal of financial independenceand retired. Engineering Your Retirement is an outgrowth of hisresearch. Whether retirement is imminent or many years off, thisvaluable guide's straightforward, analytical approach to financialindependence answers the critical questions to achievingsuccessful, comfortable, and meaningful retirement.
Written specifically for professionals in the engineering, science,and math fields, Engineering Your Retirement examines suchimportant questions as:
* How much money will I need to retire?
* How long will it take for me to accumulate it?
* What types of post-retirement activities are available totechnical professionals?
Engineering Your Retirement discusses financial independence fromthe unique cultural view of the technical professional and featuresmany charts, graphs, analytical tools, and equations to helppresent the financial nuts-and-bolts of retiring in a logical andanalytical manner. It offers practical, firsthand advice from anindustry expert on:
* Effectively budgeting for investments
* Planning for health insurance
* Choosing a retirement community
* Building up a cash/bond ladder
* Considering inflation
* Portfolio requirements
* Investment allocations
* Paying off a mortgage
* And much more!
Reviews / Votes
"This book should be of interest to anyone looking forward toretiring comfortably on one's own schedule." (MicrowaveJournal, October 2007) "Whether a novice or a seasoned veteran...definitelyconsider adding it to your library." (IEEE MicrowaveMagazine, June 2007) "...a worthwhile addition to your early retirement library.It's highly recommended." (The Retire Early Online Magazine,January/February 2007) "...Nelson's compendium has proved to be anessential resource for so many people interested in fishes, for solong..." (Reviews in Fish Biology and Fisheries,2006)More details
Other editions
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Book
01/2007
1st Edition
Wiley-IEEE Press
€50.70
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Software
08/2006
Wiley
€36.49
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Person
Mike Golio has worked in the electrical engineering field for more than thirty-one years. During his career, his job titles included: member of the technical staff, research assistant, assistant professor, senior engineer, manager, and director. He's authored more than 150 technical papers and served as an editor for five books, as well as a reviewer for several professional journals, IEEE conferences, and book publishers. He currently enjoys spending time on technical efforts, participating in professional activities, and serving as Editor in Chief for IEEE Microwave Magazine.
Content
Preface.
Acknowledgments.
1. Retire On Your Schedule.
1.1. Retirement Options.
1.2. Is There a Retirement Crisis?
1.3. How Much Do I Need to Retire?
1.4. How Long Will it Take Me to Save Enough Money?
1.5. Learning Your Own Life Values.
2 Analysis Tools and Calculations.
2.1. Predictions Based on Average Returns and Inflation.
2.2. Spending Models.
2.3. Historical Data.
2.4. Monte Carlo Simulation.
2.5. Historical Simulation and the 4% Rule.
3 Live Below Your Means (LBYM).
3.1. Spending.
3.2. Breaking the Relationship Between Earning and Spending.
3.3. Establishing Budget Projections.
3.4. Credit Cards.
3.5. Increasing Earnings.
4 Emergency Funds and Insurance (First Take Care ofStability).
4.1. Medical Insurance and Healthcare Budgets.
4.2. Emergency Fund.
4.3. Personal Financial Concerns.
4.4. Documents.
5 Investment Instruments.
5.1. Bonds.
5.2. Stocks.
5.3. Real Estate.
5.4. Annuities.
5.5. Defined Benefit Plans (Pensions).
5.6. Cash and Certificates of Deposit.
5.7. Social Security.
5.8. Mutual Funds.
5.9. Exchange-Traded Funds (ETFs).
5.10. Commodities.
6 Your Investment Plan.
6.1. Eliminate "Bad" Debt.
6.2. Investment Issues.
6.3. Tax-Advantaged Accounts and Free Money.
6.4. Taxable Investments.
6.5. House--Purchase or Rent?
6.6. Mortgage Payoff Decision.
6.7. Taxes.
7 What Will I Do When I Retire?
7.1. Work Part-Time.
7.2. Travel.
7.3. Volunteer.
7.4. Recreation and Leisure.
7.5. Health and Self-Improvement.
8 Final Issues.
8.1. Before You Leave the Building.
8.2. Where to Live.
8.3. Sources of Income.
8.4. Taxes.
8.5. Rebalancing.
8.6. Heirs.
Appendix A: Web Site URLs: Information, Online Calculatorsand Software.
Appendix B: Fundamental Financial Equations.
Appendix C: Longevity Table.
Index.
About the Author.
