Larry E. Swedroe - Your Complete Guide to a Successful & Secure Retirement

Your Complete Guide to a Successful and Secure Retirement

Larry E. Swedroe and Kevin Grogan

harriman house ltd

18 College Street

Petersfield

Hampshire

GU31 4AD

GREAT BRITAIN

Tel: +44 (0)1730 233870

Email: enquiries@harriman-house.com

Website: www.harriman-house.com

First published in Great Britain in 2019

Copyright Larry Swedroe and Kevin Grogan

The right of Larry Swedroe and Kevin Grogan to be identified as the Authors has been asserted in accordance with the Copyright, Design and Patents Act 1988.

Paperback ISBN: 978-0-85719-732-0

eBook ISBN: 978-0-85719-733-7

British Library Cataloguing in Publication Data

A CIP catalogue record for this book can be obtained from the British Library.

All rights reserved; no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior written permission of the Publisher. This book may not be lent, resold, hired out or otherwise disposed of by way of trade in any form of binding or cover other than that in which it is published without the prior written consent of the Publisher.

Whilst every effort has been made to ensure that information in this book is accurate, no liability can be accepted for any loss incurred in any way whatsoever by any person relying solely on the information contained herein.

No responsibility for loss occasioned to any person or corporate body acting or refraining to act as a result of reading material in this book can be accepted by the Publisher, by the Authors, or by the employers of the Authors.

This book is dedicated to the associates of the Buckingham Family of Financial Services and the advisors at the more than 130 independent, fiduciary, registered investment advisory firms with whom we at Buckingham have strategic alliances. Each and every one of them works diligently to educate their clients on how markets really work and helps them fulfill their life and financial goals by building long-term relationships and doing the right thing.

Also by Larry E. Swedroe and Kevin Grogan

The Only Guide Youll Ever Need for the Right Financial Plan: Managing Your Wealth, Risk, and Investments

Reducing the Risk of Black Swans: Using the Science of Investing to Capture Returns with Less Volatility

Also by Larry E. Swedroe

The Only Guide to a Winning Investment Strategy Youll Ever Need: The Way Smart Money Invests Today

Rational Investing in Irrational Times: How to Avoid the Costly Mistakes Even Smart People Make Today

What Wall Street Doesnt Want You to Know: How You Can Build Real Wealth Investing in Index Funds

The Successful Investor Today: 14 Simple Truths You Must Know When You Invest

Wise Investing Made Simple: Larry Swedroes Tales to Enrich Your Future

The Only Guide to Alternative Investments Youll Ever Need: The Good, the Flawed, the Bad, and the Ugly

Wise Investing Made Simpler: Larry Swedroes Tales to Enrich Your Future

Think, Act, and Invest Like Warren Buffett: The Winning Strategy to Help You Achieve Your Financial and Life Goals

Investment Mistakes Even Smart Investors Make and How to Avoid Them

The Quest for Alpha: The Holy Grail of Investing

The Incredible Shrinking Alpha: And What You Can Do to Escape Its Clutches

Your Complete Guide to Factor-Based Investing: The Way Smart Money Invests Today

Praise for Your Complete Guide to a Successful and Secure Retirement

A comprehensive guide to the emotional and financial issues involved in achieving a fulfilling and stress-free retirement. The wise advice is accessibly presented with a sensitivity that can only come from years of advising individual clients how to make some of the most important decisions of their lives.

Burton G. Malkiel, author of A Random Walk Down Wall Street (now in its 12th edition)

A highly sophisticated look at smart ways of managing money in retirement, creating a homemade paycheck, and securing your standard of living.

Jane Bryant Quinn, author of How to Make Your Money Last

What a great resource! Covers all the bases. In my opinion, its Larrys magnum opus. Read it and reap.

Mel Lindauer, President of The John C. Bogle Center for Financial Literacy, and co-author of The Bogleheads Guide to Investing and The Bogleheads Guide to Retirement Planning

Students tell me that they crowd my financial strategies course, which features Swedroe and Balabans Investment Mistakes Even Smart People Make , because they like practical down-to-earth advice, illustrated with stories. This new book will serve as the capstone in the course. Now I can teach about the many dimensions of retirement: such as spending down your assets in retirement, training your kids to spend and invest right, reckoning with the possibility of losing your marbles, and how to prevent elder abuse. I will be teaching a broader course and even inducing a few students to contemplate a career as a financial advisor. I have already passed the book on to my wife and kids. What a gift!

Edward Tower, Professor of Economics at Duke University

Larry and Kevins new book lives up to the promise of its title. It deals with subjects rarely covered in books authored by investment advisors (like insurance, annuities and reverse mortgages) and does so in a thorough and objective way. Its a valuable planning guide for everyone concerned about a secure and dignified retirement.

Dan Solin, author of the Smartest series of investing books

Larry does a deep dive into all the moving parts of a holistic financial plan for retirees. The result is an essential and invaluable resource for anyone in or contemplating retirement. The scope of the material is unparalleled, making this the most comprehensive guide to retirement planning I have ever seen. Meticulously researched, and clearly presented.

Frank Armstrong III, President/Founder, Investor Solutions

Family and friends constantly share with me their concerns regarding planning for retirement, which is particularly challenging in todays market environment. Finally, I can point them to a single resource for comprehensive and thoughtful advice. Larry and Kevins book is replete with insights and answers to the difficult questions that need to be considered to ensure a prosperous retirement. Relying upon decades of experience, they demystify the vast world of retirement by sharing their own science-based investment approach and collaborating with industry experts to provide a complete overview of complicated and commonly misunderstood topics such as Social Security, Medicare and Estate Planning. Their book is your guide to a successful and secure retirement.

Marat Molyboga, Chief Risk Officer, Director of Research, Efficient Capital Management

Investing is hard enough when saving for retirement, but coordinating all of the components of a holistic plan IN retirement is even more complex and risky in todays era of high valuations and low yields. Fortunately, Swedroe and Grogan break down each key issue into a retirement framework that anyone can use to navigate this challenging environment!

Michael Kitces, publisher of the Nerds Eye View at Kitces.com, Director of Wealth Management for Pinnacle Advisory Group

Larry Swedroe and Kevin Grogan are leading a financial revolution by producing the definitive book on building a solid retirement plan. Swedroe and Grogan give you the necessary tools to navigate the daunting path of financial topics that need to be addressed for your own safety and emotional well-being in retirement. Their work will have a profound impact on your golden years.