| A Million Is Not Enough: How to Retire with the Money You'll Need | 
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Avg. Customer Rating:   (based on 9 reviews)
Sales Rank: 126276
Category: Book
Author: Michael Farr
Publisher: Springboard Press
Studio: Springboard Press
Manufacturer: Springboard Press
Label: Springboard Press
Media: Hardcover
Number Of Items: 1
Pages: 304
Shipping Weight (lbs): 1.1
Dimensions (in): 9 x 6.3 x 1.3
ISBN: 0446582239
Dewey Decimal Number: 332.024014
EAN: 9780446582230
ASIN: 0446582239
Publication Date: March 5, 2008
Availability: Usually ships in 1-2 business days
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Product Description
The million-dollar question is this: do you have at least $1 million in liquid assets to support yourself during the 20+ years most of us can expect to live after we've stopped drawing a regular paycheck? And if not...how can you get started today to meet that goal?
THE MILLION-DOLLAR MISSION outlines the steps readers need to take in order to meet this ambitious (but achievable) goal...no matter if they're 35, 45, or even 55. If you're in your 50s and still a long way from this target, you've got some work to do but you CAN make it happen. Whether you're getting a head start, starting on time, or playing catch-up, Michael Farr's plan presents a specific financial and investment plan to help Boomers reach this million-dollar goal and become safe and worry-free in their later years.
With a foreword by bestselling author P.J. O'Rourke.
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| Customer Reviews: Read 4 more reviews...
 Still hope for everyone-no usual assumptions about financial situation June 20, 2008
1 out of 1 found this review helpful
Michael Farr has written a great book for retirement investment while making none of the usual assumptions about the financial situation of the reader. His advice and outlook is geared to anyone interested in securing their finances with a solid base and whether you start at 20 or 65 or you have or have not already made your first million he encourages you with the idea that it's not too late(or early)to start. If you analyze your own money routine using the charts and schedules in the book you do see where you can take yourself financially by paying attention and using available resources. He even offers his own email address in case you aren't quite sure of the appropriate direction. It's an appealing method he offers to capture your own financial interest. Using humor and examples from his own life as well as clients he uses budget and cash situations familiar to the reader. This presentation allows the reader to identify and understand the point he's making. I would recommend it just on the merit of it not making you scared of investing. The discussions are serious but clear and the usual glazing over of the brain when reading financial material did not occur. I hope you enjoy the book.
Well worth the read! June 9, 2008
Reviewed by Sandie Kirkland for RebeccasReads (6/08)
Michael K. Farr is a professional financial advisor who manages his clients' portfolios and gives them advice on how to grow their savings so that they can enjoy a stress-free retirement. In A Million In Not Enough, he gives the reader the advantage of his advice and expertise. Farr divides investors into three groups: The "Core Boomers" are those in their early to mid-fifties; "End Boomers" are those in their early to mid forties, and are representatives of the last of the official Boomer generation; while those in their early to mid-thirties are the "Neo-Boomers," and could even be referred to as the older "Generation X". Each group needs a different strategy to be successful in the goal of accumulating enough capital to fund retirement. "End Boomers" tend to have more assets, while "Neo-Boomers" tend to have more time. Each is important, but needs differing strategies.
A concept Farr uses throughout the book is the theory of "Abundance Guilt." That is the conflict over material success that many in the Boomer generation have, due to unprecedented success, incredible work ethics and the hard-driving pace this generation tends to set for themselves. Farr insists that rather than feeling guilt at the success and material goods an individual has been able to attain, they should be proud of their accomplishments and the ability to fund retirement and leave a legacy to their heirs.
This book is full of excellent investment advice, guiding the reader through calculating their net worth, deciding how much risk they can handle, setting a budget, determining ways to save more, and ways to avoid taxes. There are multiple charts and tables, showing various scenarios. There are two specific concepts Farr advocates. The first is the magic of compounding, and the other is the superiority of the stock market as an investment vehicle; over time, it has proven to outperform any other. Farr gives a detailed explanation of how the market works, different ways of investing depending on the individual's desire to be in control, and how to research stocks. He even gives specific recommendation on which stocks might be good to own, and which mutual funds tend to be top performers.
This book is recommended for anyone who doesn't have a good grasp on basic financial concepts, and shows how to apply these concepts to make sure that investments and retirement are successful. The book has a forward by P.J. O'Rourke that I found jarring as it attempted to discuss the topic humorously, but outside of that, I found this book well worth reading.
Thank you, Mr. Farr, for helping me understand. June 6, 2008
0 out of 1 found this review helpful
Reading Mr. Farr's book has helped me understand the steps I need to prepare for my retirement. Using clear syntax and giving a cogent framework has made me feel that I, myself, have the power to control how I save money to fulfill my goals for my golden years, and that I can simultaneously provide for my children's college tuitions. Thanks, Mr. Farr for helping me feel better.
A. Danford
Noank, Conn.
 Great Book for Financial Planning May 27, 2008
I am in my late '50s and I thought this book was instrumental in helping you prioritize the different elements of financial planning. It was simple and effective in outlining steps one needs to take as you get closer to retirement. Of course, the stage you're in life determines how aggressive you should be. But overall, I found it very informative.
 Too basic. Not the best investment approach May 27, 2008
3 out of 3 found this review helpful
This book spends a lot of time helping you explore things like your current budget, how you can save more, and how much you will need in retirement. I'm sure there are some people who need this basic information, but you may be better off with the on-line retirement calculators and there are certainly better books available. My biggest concern is that he rocommends portfolios that are extremely focused on actively managed U.S. Large Cap Growth stock mutual funds, but does little to justify this approach. Choose a different book (like Bogleheads Guide to Investing)and invest in a diversified asset class portfolio of index funds and ETF's.
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